Mt Penck Project (Pacific Kanon – 80%, NGG – 20%)

Mt Penck is the principle Pacific Kanon property and will be subject to a concerted exploration effort to define resources when the Pacific Kanon IPO is finalized.

More than 80 holes totalling 6,000m have been completed with intervals such as 72m at 1.79g/t gold, 2m at 36.7g/t gold and 43m at 2.35g/t gold. Bulldozer trenching has yielded results such as 40m at 8.89g/t gold, 97m at 3.39g/t gold and 5m at 60g/t gold. All results are available in the NI 43-101 report.

The Mt Penck property is in West New Britain Province, Papua New Guinea. Access to the property is usually by road from the provincial capital of Kimbe. The property is within a few kilometres of the coast.

Mt Penck is an eroded strata-volcano with gold mineralization associated with an intrusive complex. The company has identified a 4 square kilometre arsenic/gold geochemical anomaly within the 100 square kilometre license. Most of the license is yet to be explored.

Drilling recommenced at Kavola East in April 2009 as part of a planned 25 hole drill program at 3 prospects.

Readers are advised to refer to the Press Release and Technical Report Sections of this web-site for complete information including detailed drill and trench results.

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