Phase II Drill results released August 14, 2007

Drill Hole SD-07 averages 191 metres @ 0.05% WO3 and 0.02% MoS2. Results from hole SD-07 are tabulated below:

Intersection

Thickness

Depth

WO3 (%)

MoS2 (%)

Au (g/t)

Bi

(%)

Formation

8m

10-18m

0.03

<0.01

0.06

0.02

Skarn (Myobong Slate)

8m

21-29m

0.08

0.05

1.12

0.05

Skarn (Myobong Slate)

1m

31-32m

0.07

0.08

0.12

0.03

Skarn (Myobong Slate)

20m

48-68m

0.14

0.04

0.09

0.03

Skarn (Myobong Slate)

1m

70-71m

0.55

0.01

0.38

0.15

Skarn (Myobong Slate)

1m

79-80m

<0.01

0.41

<0.01

<0.01

Skarn (Myobong Slate)

1m

99-100m

<0.01

0.47

<0.01

<0.01

Skarn (Myobong Slate)

6m

107-113m

0.16

0.01

0.01

0.01

Skarn (Myobong Slate)

14m

115-129m

0.13

0.02

0.11

0.01

Skarn (Myobong Slate)

2m

146-148m

0.07

<0.01

0.01

0.01

Skarn (Myobong Slate)

1m

152-153m

0.14

<0.01

0.02

0.01

Skarn (Myobong Slate)

9m

161-170m

0.10

0.02

0.05

0.01

Skarn (Myobong Slate)

4m

179-183m

0.03

<0.01

0.03

<0.01

Skarn (Myobong Slate)

2m

190-192m

0.29

<0.01

0.04

0.01

Skarn (Myobong Slate)

7m

194-201m

0.08

0.01

0.03

0.01

Skarn (Myobong Slate)

 

SD-07 intersected the following lithological units in sequence:

0-204m. Quartz-scheelite vein stockworks in skarn altered Myobong Slate.

204-300m. Jangsan Quartzite.

Drill Hole SD-08 averages 132 metres @ 0.10% WO3 and 0.03% MoS2. Results from hole SD-08 are tabulated below:

Intersection

Thickness

Depth

WO3 (%)

MoS2 (%)

Au (g/t)

Bi

(%)

Formation

26m

16-42m

0.11

0.03

0.13

0.05

Skarn (Myobong Slate)

3m

42-45m

0.01

0.25

0.05

0.02

Skarn (Myobong Slate)

11m

46-57m

0.01

0.06

<0.01

<0.01

Skarn (Myobong Slate)

1m

58-59m

0.07

0.01

0.02

<0.01

Skarn (Myobong Slate)

19m

64-83m

0.28

0.04

0.32

0.05

Skarn (Myobong Slate)

1m

86-87m

0.46

0.04

0.08

0.02

Skarn (Myobong Slate)

2m

92-94m

0.14

0.03

<0.01

<0.01

Skarn (Myobong Slate)

1m

105-106m

<0.01

0.06

<0.01

<0.01

Skarn (Myobong Slate)

1m

113-114m

0.29

0.01

0.18

0.02

Skarn (Myobong Slate)

16m

119-135m

0.16

0.02

0.10

0.02

Skarn (Myobong Slate)

1m

137-138m

<0.01

0.11

0.04

<0.01

Skarn (Myobong Slate)

3m

139-142m

0.15

0.02

0.09

0.01

Skarn (Myobong Slate)

1m

145-146m

<0.01

0.08

<0.01

<0.01

Skarn (Myobong Slate)

4m

142-156m

0.13

0.01

0.03

0.01

Skarn (Myobong Slate)

4m

160-164m

0.24

0.01

0.04

0.01

Skarn (Myobong Slate)

10m

170-180m

0.11

0.01

0.06

0.01

Skarn (Myobong Slate)

1m

182-183m

<0.01

0.08

<0.01

<0.01

Skarn (Myobong Slate)

5m

184-189m

0.05

<0.01

0.03

0.01

Skarn (Myobong Slate)

6m

197-203m

0.09

0.01

0.08

0.01

Skarn (Myobong Slate)

1m

205-206m

0.10

<0.01

0.08

0.01

Skarn (Myobong Slate)

5m

210-215m

<0.01

0.07

<0.01

0.01

Quartzite (Jangsan Quartzite)

3m

278-281m

0.08

<0.01

0.03

0.01

Quartzite (Jangsan Quartzite)

2m

283-285m

0.22

<0.01

0.05

0.04

Quartzite (Jangsan Quartzite)

1m

290-291m

0.07

<0.01

1.20

0.02

Quartzite (Jangsan Quartzite)

 

SD-08 intersected the following lithological units in sequence:

0-208m. Quartz-scheelite vein stockworks in skarn altered Myobong Slate.

208-211m. Fault breccia.

211-300m. Jangsan Quartzite.

Drill Hole SD-10 averages 119 metres @ 0.12% WO3 and 0.01% MoS2. Results from hole SD-10 are tabulated below:

Intersection

Thickness

Depth

WO3 (%)

MoS2 (%)

Au (g/t)

Bi

(%)

Formation

10m

8-18m

0.15

<0.01

0.01

0.04

Skarn (Myobong Slate)

3m

24-27m

0.15

<0.01

0.03

0.03

Skarn (Myobong Slate)

1m

31-32m

0.01

<0.01

0.15

0.12

Skarn (Myobong Slate)

20m

57-77m

0.23

0.01

0.09

0.04

Skarn (Myobong Slate)

16m

90-106m

0.21

<0.01

0.01

0.02

Skarn (Myobong Slate)

15m

112-127m

0.18

<0.01

0.03

0.03

Skarn (Myobong Slate)

1m

140-141m

0.09

0.01

<0.01

0.01

Skarn (Myobong Slate)

2m

145-147m

0.08

0.02

0.07

0.06

Quartzite (Jangsan Quartzite)

1m

150-151m

0.15

0.01

<0.01

0.01

Quartzite (Jangsan Quartzite)

1m

156-157m

0.16

<0.01

0.03

0.02

Quartzite (Jangsan Quartzite)

1m

165-166m

0.11

0.01

<0.01

0.01

Quartzite (Jangsan Quartzite)

2m

168-170m

0.08

<0.01

0.34

0.01

Quartzite (Jangsan Quartzite)

3m

181-184m

0.30

0.01

<0.01

0.01

Quartzite (Jangsan Quartzite)

4m

203-207m

0.09

<0.01

0.07

0.02

Quartzite (Jangsan Quartzite)

1m

223-224m

1.59

0.01

0.11

0.24

Quartzite (Jangsan Quartzite)

1m

228-229m

1.31

<0.01

<0.01

0.02

Quartzite (Jangsan Quartzite)

3m

233-236m

0.06

<0.01

<0.01

0.01

Quartzite (Jangsan Quartzite)

20m

247-267m

0.10

<0.01

0.02

0.02

Quartzite (Jangsan Quartzite)

2m

281-283m

0.13

<0.01

0.07

0.03

Quartzite (Jangsan Quartzite)

4m

296-300m

0.12

<0.01

0.01

0.01

Quartzite (Jangsan Quartzite)

 

Mineralisation intersected in SD-10 at the end of hole is open at depth below 300 metres.

 

SD-10 intersected the following lithological units in sequence:

0-145m. Quartz-scheelite vein stockworks in skarn altered Myobong Slate.

145-300m. Jangsan Quartzite.

Drill Hole SD-11 averages 205 metres @ 0.13% WO3 and 0.03% MoS2. Results from hole SD-11 are tabulated below:

Intersection

Thickness

Depth

WO3 (%)

MoS2 (%)

Au (g/t)

Bi

(%)

Formation

38m

15-53m

0.17

0.06

0.23

0.04

Skarn (Myobong Slate)

1m

56-57m

<0.01

0.27

0.01

<0.01

Skarn (Myobong Slate)

15m

71-86m

0.37

0.06

0.19

0.04

Skarn (Myobong Slate)

1m

94-95m

0.21

0.01

0.07

0.01

Skarn (Myobong Slate)

1m

96-97m

0.01

0.28

<0.01

<0.01

Skarn (Myobong Slate)

2m

99-101m

<0.01

0.15

<0.01

<0.01

Skarn (Myobong Slate)

1m

104-105m

0.01

0.30

<0.01

<0.01

Skarn (Myobong Slate)

1m

110-111m

<0.01

0.08

0.01

<0.01

Skarn (Myobong Slate)

1m

117-118m

0.05

0.01

<0.01

<0.01

Skarn (Myobong Slate)

3m

122-125m

0.10

<0.01

0.07

0.01

Skarn (Myobong Slate)

7m

129-136m

0.30

0.06

0.13

0.02

Skarn (Myobong Slate)

5m

143-148m

0.56

0.04

0.20

0.02

Skarn (Myobong Slate)

5m

163-168m

0.16

0.01

0.02

0.01

Skarn (Myobong Slate)

2m

171-173m

0.31

0.08

0.04

0.01

Skarn (Myobong Slate)

1m

174-175m

0.06

<0.01

<0.01

<0.01

Skarn (Myobong Slate)

1m

176-177m

0.02

0.34

<0.01

<0.01

Skarn (Myobong Slate)

6m

182-188m

0.10

0.03

0.02

0.01

Skarn (Myobong Slate)

1m

197-198m

0.09

<0.01

0.06

0.01

Skarn (Myobong Slate)

6m

207-213m

0.09

0.01

0.12

0.02

Skarn (Myobong Slate)

6m

216-222m

0.01

0.11

0.02

0.01

Quartzite (Jangsan Quartzite)

1m

223-224m

0.07

0.05

0.01

0.02

Quartzite (Jangsan Quartzite)

2m

226-228m

0.04

0.07

0.03

0.01

Quartzite (Jangsan Quartzite)

4m

236-240m

0.02

0.08

0.02

0.01

Quartzite (Jangsan Quartzite)

1m

252-253m

<0.01

0.17

<0.01

<0.01

Quartzite (Jangsan Quartzite)

1m

254-255m

0.01

0.01

0.19

0.01

Quartzite (Jangsan Quartzite)

2m

261-263m

0.01

0.08

<0.01

<0.01

Quartzite (Jangsan Quartzite)

1m

274-275m

<0.01

0.06

<0.01

<0.01

Quartzite (Jangsan Quartzite)

1m

278-279m

<0.01

0.06

<0.01

0.01

Quartzite (Jangsan Quartzite)

 

SD-11 intersected the following lithological units in sequence:

0-28m. Pungchon Limestone.

28-214m. Quartz-scheelite vein stockworks in skarn altered Myobong Slate.

214-300m. Jangsan Quartzite.

Drill Hole SD-12 averages 178 metres @ 0.09% WO3 and 0.02% MoS2. Results from hole SD-12 are tabulated below:

Intersection

Thickness

Depth

WO3 (%)

MoS2 (%)

Au (g/t)

Bi

(%)

Formation

5m

53-58m

0.04

0.02

0.03

0.04

Skarn (Myobong Slate)

13m

60-73m

0.10

0.04

0.15

0.03

Skarn (Myobong Slate)

4m

74-78m

0.19

<0.01

0.27

0.04

Skarn (Myobong Slate)

2m

81-83m

0.01

0.24

<0.01

<0.01

Skarn (Myobong Slate)

20m

98-118m

0.41

0.01

0.08

0.01

Skarn (Myobong Slate)

2m

149-151m

0.28

0.16

0.01

<0.01

Skarn (Myobong Slate)

1m

155-156m

0.10

0.17

0.01

0.01

Skarn (Myobong Slate)

2m

158-160m

0.24

<0.01

0.24

0.05

Skarn (Myobong Slate)

1m

162-163m

0.12

<0.01

<0.01

<0.01

Skarn (Myobong Slate)

1m

164-165m

0.12

<0.01

0.11

0.02

Skarn (Myobong Slate)

1m

167-168m

0.11

<0.01

0.01

<0.01

Skarn (Myobong Slate)

2m

169-171m

0.16

<0.01

0.03

0.02

Skarn (Myobong Slate)

1m

174-175m

<0.01

0.37

<0.01

<0.01

Skarn (Myobong Slate)

4m

183-187m

0.08

<0.01

0.01

<0.01

Skarn (Myobong Slate)

1m

196-197m

0.02

0.02

0.26

0.04

Skarn (Myobong Slate)

1m

202-203m

0.14

<0.01

0.17

0.02

Skarn (Myobong Slate)

1m

222-223m

0.04

0.56

0.04

0.01

Skarn (Myobong Slate)

7m

224-231m

0.13

<0.01

0.04

0.01

Skarn (Myobong Slate)

 

SD-12 intersected the following lithological units in sequence:

0-53m. Pungchon Limestone.

53-233m. Quartz-scheelite vein stockworks in skarn altered Myobong Slate.

233-300m. Jangsan Quartzite.