Executive Summary

1. Yukon is a good, mining-friendly place with good infrastructure etc.
2. Property's main target is a "Volcanic Massive Sulphide" (VMS) Copper-gold prospect with historic drill reesults of copper @ 3.15% and 1.20% over 5 meters (two holes); 1.64% over 10 meters (gold not assayed), and, later, 1.96% copper plus 2g/t gold over 2.1 meters.
   • This target can be traced for up to 1500 meters along strike.
   • Same host geological sequence that contains the Windy-Craggy deposit (>113 million tons) to the south in BC (now a park)
   • Project is a high grade copper target, with gold credits.
3. Property has a second, differant target:
   • The same ultramafic rock complex that hosts several known Ni-Pt-Pd deposits in the Kluane region is present.
   • Historically, 2 ddholes tested the sill and returned intersections of 0.16 - 0.17% Ni (PGE not analyzed at the time) over 12-15 meters (very significant widths).
   • Typical example is the Wellgreen Deposit with a resource of 50 million tons @ 0.36% Ni, 0.35% Cu, 0.5g/t Pt and 0.34g/t Pd.
   • All intervening land is staked along the belt by major South African PGE Co.
4. Local creeks have produced gold and platinum nuggets in drainage below the prospect's mineralized horizons.
5. Exploration proposed includes modern, "state-of-the-art" geophysical surveying and geological investigation ; and step-out core drilling. All previous work is with technology obsolescent techniques "(ie: 1960's)

Cu-Au Volcanogenic Massive Sulphide

• Potential VMS Windy Craggy-type Cu-Au deposit.
• Diamond drill results up to 1.96% Cu and 2 g/t Au over 2.1 metres, and 1.76% Cu and 296 ppb Au over 5.4 metres
• Grab sample values up to 18.3% Cu and 6.7 g/t Au

Potential Cu-Ni-PGE Mineralization

• Potential Wellgreen-type Cu-Ni-PGE deposit
• An Ultramafic sill, which contains Wellgreen-type mineralization throughtout the Kluane Ultramafic Belt, is present east of the Main Zone
• Two diamond drill holes intersected nickel grades of 0.16% to 0.17% over lengths of 12 to 15 metres; one hole ended in mineralization

Roadside Accessible

• 28 km northwest of Haines Junction.
• 8 km tote road from Alaska Highway
• Tote road continues past property to active placer mines on Kimberly Creek.
• 240 km from deepwater port at Haines, Alaska.
• Grid power available in Haines Junction.
• Property is near proposed Alaska Highway pipeline route.

Geology and Mineralization

• Main Zone showings include several concordant mineralized horizons up to 10 metres thick and dipping 20° to 40° to the south.
• Chalcopyrite, pyrite, and pyrrhotite occur as blebs and stringers hosted in andesites, andesitic tuffs and argillites.
• Additional showings located 100 metres to 1500 metres from the Main Zone (some are extensions of the Main Zone; others may represent additional mineralized horizons higher in the sequence.)

Selected Historic Diamond Drill Results

The Ellen Project, is located in the Whitehorse Mining District approximately 27 km northwest of Haines Junction, which is 159 km by road from Whitehorse, Yukon Territory. The property comprises the Ellen 1-20 and Ellen 25-37 claims, covering approximately 1400 acres.

The Ellen Project is underlain by andesitic volcanic rocks, with minor interbedded limestone and clastic beds. Diorite, andesite and fine grained peridotite sills of the Kluane mafic-ultramafic suite have been emplaced along thrust faults at the base of the volcanic sequence. The above units are unconformably overlain by clastic sedimentary rocks in the southern property area.

The Kluane mafic-ultramafic suite hosts a number of magmatic nickel-copper-platinum group mineral occurrences from Northern British Columbia, through Yukon and into Alaska. One of these occurrences, the Wellgreen Deposit, produced almost 200,000 tonnes of Ni-Cu-PGE ore in 1972 and 1973 and hosts reserves of 49.9 million tonnes grading 0.36% Ni, 0.35% Cu, 0.51 g/t Pt and 0.34 g/t Pd. The Kluane Belt nickel-copper-PGE occurrences are particularly enriched in the rarer platinum group elements osmium, iridium, ruthenium and rhodium.

Exploration on the Ellen Project, from 1954 to present, has involved approximately 1,214m of drilling in 17 holes, hand/blast trenching, rock and soil geochemistry, ground electromagnetic and magnetic geophysical surveys.

The main prospect consists of a volcanogenic massive sulphide showing and possibly a feeder system with strong alteration and chalcopyrite stringers and breccia infilling. Results from previous drilling include 3.15% Cu over 5.2m in MC66-1, 1.64% Cu over 10.4m in MC66-2 and 1.96% Cu, 2.1g/t Au over 2.1m in DDH 95-3.

Mineralization exposed at the main showing occurs as intense malachite and azurite stained outcrops along the canyon of Ellen Creek, with several zones up to 10m wide consisting of high grade copper+-gold bearing semi-massive pyrite and chalcopyrite layers (parallel to bedding and shear planes), crosscutting stringers and breccia zones with sulphide cement.

Previous drilling on the property intersected a serpentinite sill carrying low grade nickel values averaging 0.17% Ni over12-15m (DDH 95-4 and 95-5). PGE mineralization is commonly known to be ssociated with low grade nickel and higher grade copper throughout the Kluane Ultramafic Belt. Another sill is postulated in the southwestern property area based on the ground magnetic signature.

The main prospect appears to represent a feeder zone that has been traced to 75m. Additionally, chalcopyrite occurrences have been traced for 800m along strike to the southeast and 500m along strike to the northwest.

Strong copper+-gold soil geochemical anomalies (with maximum values of 4818 ppm Cu and 1340 ppb Au) are present, generally coincident with geophysical conductors outlined along the main zone and subparallel to it.

The Ellen Project constitutes a property of merit based on the presence of a significant volcanogenic massive sulphide showing on the property with high grade Cu/Ag/PGE values and the potential to trace the showing along strike as evidenced by the numerous chalcopyrite occurrences, anomalous copper-gold soil geochemistry and coincident geophysical anomalies.

A $100,000 initial program is proposed for the Ellen Project consisting of a HLEM survey with additional mapping, access upgrading and minor trenching to trace copper-gold mineralization further to the northwest and southeast and to delineate areas of PGE potential.