JEFFERSON CANYON PROJECT

About the Jefferson Canyon Project

The Jefferson Canyon Project is located in south central Nevada and contains a large volcanic-hosted epithermal Au-Ag system which is the same age as the nearby Round Mountain deposit/mine. Round Mountain is a world-class low-sulfidation epithermal deposit that has produced 15Moz of gold to date with additional reserves and resources. Both Round Mountain and Jefferson Canyon are hosted in felsic ash-flow tuffs along the margins of calderas and both contain a strong northwest-trending structural control to mineralization. Mineralization at Jefferson occurs in veins, vein-stockwork, disseminated and stratiform replacement. Drill hole GJ81 at Jefferson Canyon returned 41.2m of 6.4 g/t Au and 402 g/t Ag (CR Exploration Company, 1985). Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company's Vice President, Exploration is a qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of this press release. The QP has not completed sufficient work to verify the historical information on the property, particularly in regards to historical drill results. However, the QP believes that prior drilling and analytical results were completed to industry standard practices.