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ARCHIVED ARTICLES - The Mining Record

04/27/2007 - Closing of Private Placement of $2.71 Million

RENO, NV - Bullion River Gold Corp. closed a private placement consisting of two parts. A private equity placement consisting of 2,280,336 units raised $1,710,250. A new secured convertible debenture agreement with Elton Participation Group that closed March 12, 2007 raised $1,000,000. Elton received a six month convertible debenture bearing simple interest at 10% per annum. The debenture is convertible into the company's common stock at a price equal to $0.75 and is secured with the shares of French Gulch (Nevada) Mining Corp., the company's subsidiary carrying out the mining activity in French Gulch.

These funds are being used for working capital and to improve the company's production equipment at the French Gulch mine in Shasta County, NV. The company purchased two new state-of-the-art crushers for its mill. Installation of these new crushers is planned for early April and is expected to take approximately two weeks. Once installed, the new crushers will improve the continuous mill feed. The new crushers will increase the calculated mill capacity to 250 tons per day. The crushers have an ultimate capacity of 1,000 tons per day. This capacity will be used to crush waste rock and improve mill capacity after other equipment in the mill is upgraded. In addition, new haulage equipment and other mining equipment have been installed. Further upgrades to the mine's equipment fleet, mill and infrastructure are planned during the coming months to increase tonnage and efficiency and lower production cost.

The company reported that it has successfully expanded into new production areas in the French Gulch Mine using the newly developed main decline; this expansion, which was originally slated for fourth quarter 2006, began in mid January 2007. Development continues to open up more stopes in the Lucky 7 vein system and to create access to the Washington vein system, which is located north of the Lucky 7. In addition, underground and surface exploration has led to the discovery of an additional vein system in the south of the Lucky 7. Additional exploration will be conducted to develop more ore resources in both known and new vein systems as well as the 257,800 ounces identified.

Peter M. Kuhn, president of Bullion River Gold Corp., said the company would continue to make equipment and production improvements to speed development in the mines. "We are taking a systematic approach to bringing on new equipment, analyzing our ore zones and handling our high-grade ore," he said. "Although recovery remains near 90%, we are not yet satisfied with our production results. We believe these new steps announced today along with our continued daily focus on improving our operations will position us to yield the results we are seeking," he said.

04/27/2007 - Fieldwork To Commence At Pyramid Mine

RENO, NV - Consolidated Goldfields Corporation reported that they will be commencing a comprehensive surface and underground mapping and sampling program at its Pyramid Mine in Churchill County, Nevada.

The Pyramid Mine is a high-grade underground gold-silver-lead-zinc vein system hosted in altered volcanic rocks within the prolific Walker Lane structural zone. Small-scale underground operations conducted in the 1970s and 1980s produced approximately 20 tons of gravity concentrates that contained an average grade of 3.3 ounces per ton gold and 478 ounces per ton silver. A small tonnage of direct shipping ore was also mined which averaged 0.774 ounces of gold per ton and 182 ounces of silver per ton.

Underground exploration conducted in the 1990s encountered multiple high-grade faces ranging in value from anomalous to 2.86 ounces per ton gold and 453 ounces per ton silver. The high-grade veins were actually hand measured within existing underground workings and a total of 4,000 tons of mineralized material was delineated at an average grade of 0.514 ounces per ton gold, 75 ounces per ton silver, 5.95% lead and 7.08% zinc.

The primary object of the exploration/development program is to map and sample the 4,000 tons of mineralized material in detail to validate the historical records. The Company then plans to initiate underground mining operations to obtain a bulk sample that will be concentrated and processed at an existing smelter. Because the mineralized material is of such high grade, significant cash flow will potentially be realized from the precious and base metals that are recovered from the bulk sample.

The comprehensive mapping and sampling program will also focus on extending the known veins to define additional tonnages of high-grade mineralized material in addition to exploring for new veins throughout the district. The Pyramid Mine project area experienced very minor exploration in the past and has never been evaluated using modern exploration techniques. Therefore, the district exhibits excellent potential to significantly increase mineral resources and develop a substantial high-grade underground mining operation. High-grade precious and base metal mineralization remains open both along strike and at depth throughout the project area.

04/27/07 - Drilling To Begin On Gunman Zinc Project

VANCOUVER - Cypress Development Corp. and Bison Gold Exploration Inc. reported that they have contracted out a diamond drill program on the Cypress (73.13%) / Bison (26.87%) owned Gunman zinc project located in White Pine County, northeast Nevada. The program will consist of up to 12,000 feet of diamond drilling in Phase 1 2007. A Bureau of Land Management (BLM) exploration permit was commenced in November 2006 in preparation of the 2007 diamond drill program.

Cypress Development, as operator, completed a Titan electric survey, followed by a detailed gravity survey in late 2006. Both surveys were centered on the high-grade zinc-silver oxide/sulfide RH Zone area and extended a total of 1.2 miles to cover the known alteration / mineralization in the host carbonate section within the RH Trend. The survey was designed to map conductive bodies beneath and lateral to the strongly oxidized RH Zone deposit. A series of strong discrete conductors are apparent along the RH Trend. Detailed geologic control from surface mapping indicates that these conductors occur within north-south striking RH Zone carbonate stratigraphy.

In addition to the RH Zone, at least 3 new targets were identified as having zinc oxide potential. A total of 5 targets were identified as having zinc sulfide potential. None of the targets have been drill tested and all but one of the targets is within 1000 feet of surface. All of these anomalies lie within the RH Trend. These anomalies could be the result of mineralization of a similar nature to that found at the RH Zone, however they lie considerably south of any known drill results.

Of major significance is the size of all the potential targets in that all of the new targets are believed to be significantly larger than that of the RH Zone zinc-silver deposit.

The RH zinc-silver zone is contained in an area of approx. 260 feet by 150 feet and to a depth of approx. 110 feet. The combined presence of host rock, structure, surface and drill indicated zinc-silver mineralization and strong Titan conductive anomalies make the RH Trend targets a priority for the exploration of additional massive sulfide deposits on the Gunman project in Nevada.

04/26/07 - Inferred Resources at the Idaho-Maryland Mine Surpasses One Million Ounces

VANCOUVER, BC - Emgold Mining Corporation reported that the total inferred mineral resources at the Idaho-Maryland Mine in Grass Valley, California, have now surpassed one million ounces of contained gold. The inferred total resource using the historic Mine Call Factor ("MCF") of 1.44 includes 43,000 tons ("t") with an average grade of 0.93 ounces of gold per ton ("opt") to contain 40,000 ounces of contained gold. An additional 5,000t grading 2.05 opt increases the total inferred contained gold to 1,002,000 ounces of contained gold. The mine also has a measured and indicated resource consisting of 1,666,000t grading 0.28 opt using the MCF to contain 472,000 contained ounces as presented in the Company's November 2004 Technical Report prepared by Amec Americas Ltd.

Sixteen new gold resource blocks have been identified using the Company's computerized models increasing the total number of resource blocks to 216. Each of the 216 resource blocks is a target for further surface and underground exploration. Approximately 70 percent of the new resources are from primary veins including the Idaho #1 Vein, which produced one million ounces of gold from one million tons over 30 years, and the Idaho #3 Vein. These veins show remarkable continuity down-dip; continuous structures that were mined to depths of over 2000 feet. In addition, the majority of the new inferred resources were identified at the deeper levels of the mine where historic mine operations excavated drifts in veins and detailed sampling was conducted to plan future mining activities. Mining of the veins between the drifts (termed stoping) never occurred because stoping of primary and secondary veins essentially ended at the Idaho 2000 mine level. However, the mine levels below the 2000 level were developed and sampled in preparation for future mining.

Computer modeling of historic assay data was completed last year and is being used to determine the sites of potential new resource blocks and exploration targets. In addition to the new resources, more than two hundred new exploration targets have been found. Most targets are along extensions of existing veins. The exploration targets do not meet the vein thickness criteria required to be classified as resource blocks, but these areas do indicate the presence of gold mineralization and will be very important guides to identify additional gold resources in the future.

The company's address is Suite 1400, 570 Granville Street, Vancouver, BC V6C 3P1, 604.687.4622, fax: 604.687.4212.

04/25/07 - Golden Phoenix Minerals Reports Ashdown Progress

SPARKS, NV - Golden Phoenix Minerals, Inc. reported continued progress in the development and production of molybdenum concentrates at the Ashdown Project LLC mine, located in Humboldt County, Nevada.

Underground crews continue to extract molybdenite along the southern section of the Sylvia sill drift. The crews blasted south approximately 135 feet, increasing the daily volume of mineralized rock being removed and delivered to the mill. As drifting continued, the grade abruptly increased along the last 35 feet. In-house face assays have returned values of 3%-to-7% Mo, equivalent of up to $4,000 per ton value, awaiting confirmation by outside labs. This is an exploratory drift running south from the known high-grade zone in an area defined by little previous data. The width of the vein has also expanded from between four-and-five feet to an average of approximately eight feet, with some sections reaching up to 14 feet in total thickness.

Work progresses on the development of a second high-grade stope located in the main Sylvia zone to the north of the current mining. This stope is designed to open two new faces within the known high-grade portions of the vein over the coming weeks, and will replace the previously developed stope access due to superior efficiencies in working geometry and rock quality.

Development crews are also making excellent progress on the southwest crosscut that will open access to the down-dip extension of the high-grade zone. This area, which lies about 110 feet down-dip from the current working level, will provide access to an estimated 15,000-ton block of mineralization within the expected highest-grade segment of the vein. This represents approximately six-months production in addition to that accessed by the upper stope. Over 110 feet of crosscut has been blasted and is nearing intercept with the vein. When completed, this crosscut will allow the opening of a number of new working faces in the high-grade zones, giving more miners access to the higher quality mineralization. Six additional miners have been added to the staff, bringing the current total to 24 underground personnel. This has increased both production and development activity throughout the mine.

David A. Caldwell, CEO and Chief Geoscientist for Golden Phoenix,commented, "The discovery of the additional mineralization in the south extension of the Sylvia drift highlights the potential for future discovery on the Ashdown property. We are currently planning to utilize targeted geologic and geophysical methods that we believe are uniquely suited to unlocking the true magnitude of this largely unexplored property."

The mill has also increased its staff levels and is now capable of round- the-clock operation. The mill has been running continuously during March, except for a five-day scheduled maintenance and upgrade period during which mill feed continued to be stockpiled. The mill resumed production on March 13, 2007 and continues to produce and bag moly concentrate for near-term sale and shipment. Recoveries at the mill have improved rapidly through this ramp-up period and are now generally up to 90-to-95%, with concentrate values averaging 54% Mo. Work continues on the metallurgy of the deposit, with variances in the mineralogical composition of the moly-bearing rock being addressed through bench-testing at the mill.

The 350-foot surface hole, which was drilled two months ago, has now been accessed underground. This 12-inch hole provides communication and ventilation to the deepest portions of the workings. A refuge chamber is being constructed adjacent to the hole to provide the mine crews additional safety support. It will also allow for the delivery of sand to backfill and stabilize the active stopes as they are mined, opening the way for full-scale stope mining to proceed.

04/24/07 - Gryphon Gold Reports 165 ft of 0.21 ozs/ton

VANCOUVER, BC - Gryphon Gold Corporation reported the first 3 holes of its US $4.5 million 72 hole 2007 Borealis district exploration program. The first three holes of the 2007 program with assay results are in the Graben deposit and the Lucky Boy zone located under the Central Pediment of the Borealis property. Hole G-29, one of the two in-fill holes drilled in the Graben deposit, had a 165 feet intercept of 0.21oz/ton. The hole drilled in the Lucky Boy anomaly is 3.0 kilometers west of the Graben deposit and assayed anomalous gold at considerably higher levels than the two previously released companion holes (CP -01 and 02) that discovered this new horizon.

In mid-February Eklund Drilling Company changed to a 24-hour per day drilling operation which is expected to result in completion of 5 or more holes per month. Generally, drilling will rotate between expanding the Graben deposit and testing the newly discovered targets within the Central and Western Pediments.

This gold resource, which extends over 700 meters (north-south), is delineated by 38 widely spaced holes. This presents an opportunity to increase its gold resources by extending it in several directions and by filling in the gaps. The two 'in-fill' holes just completed have helped confirm the continuity of the deposit:

¥ At 197 meters (640 ft) of 1.1g/tonne hole G-28 is the longest continuous intersection of potentially ore grade gold mineralization drilled to date in the Graben deposit. The mineralized zone in hole G-28 is 27 meters longer than hole G-7 (169 meters of 3.4 g/tonne) and is located 38 meters southeast of hole G-07.

¥ Hole G-29 was drilled 37 meters southwest of hole G-18.

The results for the two in-fill holes drilled in the Graben during February are:

------------------------------------------------------------------------

Hole From To Interval Gold Interval Gold

No. (meters) (meters) (meters) (g/tonne) (feet) (oz/ton)

------------------------------------------------------------------------

G-28 149 346 197 1.1 640 0.03

G-29 183 241 58 6.5 185 0.19

including 191 241 50 7.3 165 0.21

------------------------------------------------------------------------

N.B. The mineralization is composed of multiple fracture systems. The

length of the vertical intercepts may or may not represent true

width/thicknesses.

The combination of geologic and geophysical data and interpretation of drill-hole results to date indicates a possible 700 to 1,000 meter extension to the length of the Graben's hydrothermal system as well as extensions to its width. These extensions will be drilled in turn as part of the 2007 program.

The two recent drill holes (WP-01 and WP-02 reported Jan 17, 2007) in the Flatlands zone of the Western Pediment (5.3 km west of the Graben deposit) also define an additional 1000 meters of lateral extension of mineralized horizons.

These results support the view that the Borealis system is one of the largest known volcanic-hosted high-sulphidation gold-bearing mineralized systems in Nevada. To date favorable gold-bearing horizons totaling more than 8 square kilometers have been identified in the Central and Western Pediments. Gryphon Gold's focus now is to locate structurally disrupted zones within these newly confirmed horizons that contain higher grade gold mineralization similar to the Graben deposit.

The 72 hole 2007 Borealis exploration program is designed to increase the Graben sulphide deposit's gold resources and to discover additional gold deposits under pediment cover. The program will alternate between step-out drilling on the Graben extensions and in-fill drilling where holes are widely spaced, and exploration for additional gold deposits within the newly identified gold-bearing hydrothermal systems of the Central and Western Pediments. This cycle of rotating areas drilled allows for assay turn-around to guide the efficient selection of specific drill sites based on each target area's results. It is anticipated that a suite of five or six drill holes including both development and exploration holes will be release every four to six weeks.

04/23/07 - Drilling Continues On Hall-Tonopah Deposit

SPOKANE, WA - Idaho General Mines, Inc. reported that based on ongoing drilling and evaluation work the company anticipates that its wholly owned Hall-Tonopah molybdenum deposit, located in Nye County Nevada, will be its second major molybdenum development project. The Hall-Tonopah deposit has been undergoing a comprehensive drilling and evaluation effort which not only confirms the existence of an economic ore body but also suggests the potential for an extension of the molybdenum mineralization. Bruce Hansen, Chief Executive Officer of Idaho General, commented, "While our main focus and effort is the permitting and development of the Mount Hope Mine near Eureka, Nevada, we are excited be able to continue to progress a second major molybdenum project. Hall-Tonopah is also one of the world's larger high grade molybdenum deposits."

The current Idaho General drilling program at Hall-Tonopah is designed to augment the existing drill hole data bases of both the original Hall-Tonopah development companies (Anaconda Company and Cyprus Amax), which consists of more than 160 diamond drill holes and over 150,000 feet of drilling and data. The current Idaho General drilling program is directed toward the reconfirmation of the molybdenum mineralization in the original mining plan of Cyprus and also targeting additional molybdenum resources using more reliable large diameter diamond drill core. During the period 1981 to 1991, 50 million tons was mined by open pit methods at a mined grade of 0.11 percent molybdenum. Anaconda Company and Cyprus Amax had delineated a mineable zone of 200 million tons at a grade of 0.095 percent molybdenum. The mine plan contemplated a single open pit which was concentrated upon mining the Hall, or lower molybdenum mineralization zone.

The current Idaho General drilling program has completed two of six planned diamond drill holes. The first new diamond drill hole (HT 679), completed in February 2007, tests the upper mineralized Tonopah molybdenum zone. This hole was drilled to a depth of 2,825 feet at an angle of 55 degrees. The assays for the first 710 feet have been received and average 0.091 percent molybdenum, which confirms the assay results of previous corresponding holes. A total of 4,600 feet of core has been drilled to date and is in various stages of geologic review with assays forthcoming. The current assessment of the property suggests that further drilling may extend both the Hall molybdenum ore zone and the near surface Tonopah molybdenum ore zone. Robert Russell, Chairman of the Board, said that, "Based on our current modeling and preliminary data, we believe that a mining rate of at least 20,000 tons per day can be sustained at grades of 0.09 to 0.11 percent molybdenum or approximately 2 pounds molybdenum per ton mined."

The Company gained 100% control of the Hall-Tonopah project including all outstanding royalties in January 2007. The project is located on fee lands owned by the Company, meaning that permitting will be administered by the State of Nevada. The Company anticipates that this may shorten the overall mine permitting timeline and reduce capital costs. In addition, much of the infra-structure and other facilities from previous operators remain in place, including, power, water, roads and tailing facilities. The Company is also evaluating the potential to treat Hall-Tonopah concentrates at its planned Mount Hope molybdenum roasting facilities, creating additional synergies and cost savings.

The company's address is 10 N. Post Street, Suite 610 Spokane, WA 99201, (509) 838-1213, fax: (509) 838-0457, email: info@igmines.com

04/20/07 - Marathon drilling continues to expand W and RD Zones

TORONTO, ON - Marathon PGM Corporation reported the results of ten drill holes in the W and RD Zones. Marathon drilled four holes in the W Zone, with three holes intersecting good grades. These results are consistent with prior results in this zone, which is characterized by high PGM values. The highest grade intersection was in M-07-257, which had 8 m grading 7.1 g/t PGM and gold and 0.16% copper within a 76 m intercept grading 1.26 g/t PGM and Au and 0.11% copper. This hole also confirmed the down dip extension of the W Zone. Hole M-07-261 contained an intersection of 6.3 g/t of PGM and Au over 8 m, and hole M-07-263 contained an intersection of 3.1 g/t of PGM and Au over 6 m. These results further expand the W Zone mineralization up dip. Hole M-07-254 contained lower PGM values but confirmed the continuity of the W Zone mineralized envelope into the hanging wall of the BR Zone.

Drilling in the RD zone continues to outline the horizontal mineralization within a shallow basin in the footwall. Four contiguous holes (M-07-253, 255, 256 and 258) along section 3150 N contain a minimum 10 m of mineralization with grades between 0.3 to 1.7 g/t PGM and gold and 0.13 to 0.32% Cu and confirm the extension of the RD zone by 50 m to the south. Drill holes M-07-259 and M-07-269 contain no significant values and serve effectively to constrain the western boundary of the RD Zone.

The Company's current drilling activities are focused on expanding mineralization in the Malachite and W Zones and testing IP targets between the northern boundary of the BR Zone and the Southern Resource Area. These IP targets were identified during a deep IP survey conducted in January and February 2007. Drilling will shift in to exploration targets in the Dunlop and WD Zones while waiting for road conditions to improve after the spring thaw.

04/19/07 - New Jersey Mining Intersects Coleman Vein

KELLOGG, ID - New Jersey Mining Company reported that it has driven a crosscut on the 740 level across the Coleman quartz-gold vein. The vein is 4.7 meters wide on the left rib and 3.6 meters wide on the right. Gold mineralization is concentrated toward the hangingwall with pyrite, tennantite and some visible gold.

Chip sampling of the vein on the left rib averages 1.93 grams per tonne (gpt) gold and 11 gpt silver with the two meter wide portion near the hangingwall grading 3.27 grams/tonne gold and 9 grams per tonne silver. The grade of the right rib is 1.59 gpt gold and 16 gpt silver with the two meter wide portion near the hangingwall grading 2.02 gpt gold and 13 gpt silver. Thin stringers of tennantite, a copper-arsenic sulfosalt mineral which is a member of a group of minerals known as fahlore, are visible in the higher grade section of the vein. Grab samples of this mineralization assayed 93 gpt silver.

Company President Fred Brackebusch, commented, "The Coleman vein has an impressive width where our crosscut intersected it which is 150 meters below the surface outcrop. Fluid inclusion testwork indicates the vein is mesothermal which implies the vein could extend to depths of three kilometers or more."

The exploration plan is to drift on the vein in both directions so that an updated resource calculation for the Coleman vein can be completed, and explore for a mineable, high-grade ore shoot that can be profitably processed at the New Jersey mill. Earlier sampling shows that 1.4 meter wide face about 20 meters southeast of the intersection averages 9.0 gpt gold, and a 2002 drill-hole intercepted the vein about 100 meters north of the intersection and assays 6.8 gpt gold over 2.5 meters. Vein material mined during the resource definition drifting will be processed in the nearby New Jersey mill to accurately establish the grade of the vein.

04/18/07 - Freeport-McMoRan Copper & Gold Inc. Completes Acquisition of Phelps Dodge Corp.

PHOENIX, AZ - Freeport-McMoRan Copper & Gold Inc. announced that it has completed its acquisition of Phelps Dodge Corporation creating the world's largest publicly traded copper company. In this $26 billion transaction, Phelps Dodge shareholders received $88 in cash ($18 billion in total) and 0.67 of a share of FCX's common stock (137 million shares in total), equivalent to a value of $128.68 per Phelps Dodge share based on the closing price of FCX's common stock on March 16, 2007. FCX currently has approximately 334 million shares outstanding.

James R. Moffett, Chairman of the Board of FCX, said: "The new FCX will benefit from a diverse portfolio of proven assets, an attractive growth profile and an exciting portfolio of exploration targets. We are highly enthusiastic about the asset base created by this leading copper producer."

Richard C. Adkerson, FCX's Chief Executive Officer, said: "We are pleased to combine the assets of two great companies in the largest transaction in the history of the metals and mining industry. These assets will deliver significant copper volumes to an attractive market place, providing substantial cash flows that will enable us to invest in growth projects and reduce debt rapidly. We look forward to the opportunities that this highly attractive transaction provides our shareholders."

The new FCX will be an international mining industry leader based in North America with large, long-lived, geographically diverse assets and significant proven and probable reserves of copper, gold and molybdenum. FCX has one of the most dynamic portfolios of operating, expansion and growth projects in the copper mining industry.

04/17/07 - Queenstake Reports Measured & Indicated Resources

DENVER, CO - Queenstake Resources Ltd. reported that estimated measured and indicated resources including reserves, totaled 1.9 million ounces of gold contained in 8.2 million tons grading 0.23 ounce of gold per ton (opt) at year-end 2006. Proven and probable reserves of gold totaled 485,700 ounces contained in 2.0 million tons at a grade of 0.25 opt at year-end 2006, using a three-year average gold price of $485 per ounce.

For year-end 2005, measured and indicated resources were 8.8 million tons grading 0.24 opt totaling 2.1 million contained ounces while proven and probable reserves were 3.7 million tons at a grade of 0.24 opt for 877,900 contained ounces.

The reduction in reserves in 2006 was primarily due to higher mining unit costs, resulting in an increase in cutoff grade, some remnant ounces condemned with the shutdown of the Murray Mine and elimination from reserves of ounces below the water table at the Smith Mine. Measured and indicated resources were slightly lower, due to the above factors as well as depletion from production at the SSX-Steer Complex and Smith Mine during the year.

In addition, inferred resources of 2.4 million tons at 0.23 opt totaled 545,200 contained ounces at year-end 2006, compared to 2.6 million tons at 0.23 opt for 605,600 contained ounces a year ago. Queenstake's proven and probable reserves, and measured, indicated and inferred resources were audited and verified by SRK Consulting (U.S.), Inc.(3) in accordance with the standards of Canadian National Instrument 43-101.

The Starvation Canyon project maintained its reserves and measured and indicated resources in 2006, while enhancing the definition of the two known resource zones. Queenstake estimated Starvation Canyon's measured and indicated resources totaled approximately 636,500 tons at 0.29 opt for 184,300 contained ounces, including probable reserves of 112,900 contained ounces, at year-end 2006. The drilling program conducted during 2006 began testing targets of up to a mile away, which will be followed up in 2007.

Queenstake invested $4.9 million in exploration during the full-year 2006 with five surface drill rigs working at the Jerritt Canyon District, at Starvation Canyon and other targets. Exploration expenditures for 2006 were constrained by reduced cash being available from operations and access to drill rigs.

04/16/07 - Redstar Extends Nevada Geological Database Agreement

VANCOUVER, BC - Redstar Gold Corp. and AngloGold Ashanti North America Inc. have agreed to extend Redstar's exclusive rights to AngloGold Ashanti's extensive Great Basin, Nevada geological database. The database includes detailed regional geological, geophysical and geochemical data, as well as over 1,200 property-specific, prospect files. The database gives Redstar a significant advantage in identifying high quality projects for acquisition in Nevada.

Redstar has used information contained in the database to acquire six projects in Nevada and is the basis for entering into its recently-announced agreements with International Tower Hill Mines Ltd. "The significant value of the AngloGold Ashanti database is demonstrated by the successful efforts in acquiring projects in established, gold producing areas including the prolific Carlin Trend as well as the Bullfrog and Sleeper districts," said Scott Weekes, President of Redstar Gold. "The database also includes proprietary ideas and techniques developed by AngloGold Ashanti for exploration in Nevada. Our partnership allows Redstar to compete for exploration properties in Nevada at a very sophisticated level and attract high-quality joint venture partners. We expect 2007 to be the most active in the Company's history including drill programs on the existing properties and new property acquisitions."