Labrador Property

The Company together with Belmont Resources Inc. have signed an amended agreement for the acquisition of new claims in the CENTRAL MINERAL BELT (“CMB”) URANIUM DISTRICT, LABRADOR.

With the assistance of Mr. James G. Burns, P.Eng, Consulting Geologist Ruza arranged the staking of three new geologically and strategically located claim blocks (128 units-32.0 square km). These units are the composition of the amended agreement.

The three licence blocks comprise two properties; Stormy Lake (Otter Lake) totals 105 units (26.25 square km.), and Partridge River (Isabella Falls) totals 23 units (5.75 square km.). They are located 95 km NW and 165 km WNW, respectively, from Goose Bay, Labrador.

The Stormy Lake group is located in an area surrounded by a land package being explored by Aurora Energy Resources Inc.—“AXU” (Altius Mineral Corporation – “ALS” and Fronteer Development Group Inc. –“FRG”). The Aurora Energy --Altius/Fronteer land package comprises some of the most active uranium exploration projects ( ie. Michelin, Moran Lake, Post Hill Deposits) in the ‘Central Mineral Belt’ uranium district of Labrador. Longview Strategies Inc./Bayswater Uranium Corp.-- “BAY” and Crosshair Exploration & Mining Corp. –“CXX also have adjacent land holdings and are conducting exploration near the Stormy Lake block.

The Partridge River claims are located nearby areas being explored by Tripple Uranium Resources (recently optioned claims to Universal Uranium Ltd.—“UUL” and Silver Spruce Resources Inc. “SSE” exploring jointly with Universal Uranium.

Both Crosshair and Aurora have released significant findings in the Central Mineral Belt and as a result of these exploration results and the rise in the price of uranium, the CMB has seen extensive claim staking over the past few months.

On September 20, 2006 the companies filed NI 43-101 report by James G.Burns, P.Eng., Consulting Geologist.

"The Belmont-Montoro Partridge River and Stormy Lake properties have substantial merit as potential settings for unconformity-related uranium deposits."

For the full report in acrobat format please CLICK HERE.