exploration report on diamond drilling theodore …...shining tree, ontario (fig.1, 3). access is...

EXPLORATION REPORT ON

DIAMOND DRILLING

THEODORE LAKE PROPERTY

SOUTH SHINING TREE AREA

LARDER LAKE MINING DIVISION

ONTARIO

FOR

GOLDEN PHOENIX MINERALS INC

N.T.S.: 41P/3 Latitude: 47 24 Longitude: 81 00 UTM: Nad 83 Zone 17 503000E 5251000N

FRED J. SHARPLEY, P.Geo December 2011

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TABLE OF CONTENTS

PAGE SUMMARY 1.0 INTRODUCTION ............................................................................................................................................... 5 2.0 PROPERTY ........................................................................................................................................................ 5 2.1 Claims 5 2.2 Location and Access 5 2.3 Topography 6 3.0 HISTORY ............................................................................................................................................................ 6 3.1 Regional History 6 3.2 Property History 7 4.0 GEOLOGY ......................................................................................................................................................... 7 4.1 Regional Geology 7 4.2 Property Geology 7 5.0 MINERALIZATION ......................................................................................................................................... 8 5.1 Regional Mineralization 8 5.2 Property Mineralization 8 6.0 EXPLORATION ................................................................................................................................................ 8 6.1 Diamond Drilling 8 7.0 CONCLUSIONS AND INTERPRETATION .................................................................................................. 9 8.0 RECOMMENDATIONS ................................................................................................................................. 10 9.0 REFERENCES ................................................................................................................................................ 11 10.0 CERTIFICATE OF QUALIFICATIONS: F.J. SHARPLEY ................................................................... 12

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Appendix I: LIST OF FIGURES page 13 Figure 1: Location Map Figure 2: Claim Map Figure 3: Topographic-Access Map Figure 4: Drill Hole Plan Figure 5: Section – DDH: TP-11-01 Figure 5a: Section – DDH: TP-11-02 Figure 6: OGS Regional Geological Map P.3620 Figure 7: Theodore Lake Property Google Image Figure 8: OGS Local Geological Map P.3531 List of Tables Table No. 1-Theodore Lake Property-Claims 5 Table No. 2-Diamond Drill Holes Drilled 9

Table No. 3-Diamond Drill Holes Drilled with Significant Assays 9 Appendix II: DIAMOND DRILL HOLE LOGS 14 DDH NO.-TP-11-01 DDH NO.-TP-11-02 Appendix III: ASSAYS CERTIFICATES 15

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SUMMARY The Theodore Lake Property consists of 64 non-patented mining claim units in four claims located in North Williams and Dufferin Townships in the Larder Lake Mining Division 160 km southeast of Shining Tree, Ontario. The property is situated within the Archean Abitibi metavolcanic belt that occurs as a window in the Huronian Group which is part of the Superior Province of the Precambrian Shield. During September 2011, two diamond drill holes were drilled in North Williams Township totalling 364 metres. A total of two diamond drill holes were drilled to investigate an airborne EM anomaly referred to as the Theodore Lake anomaly. No significant base metals or gold values were intersected in the two holes drilled but the anomaly was probably caused by graphite. The hole intersected intermediate volcanic tuff and intermediate volcanic flow with disseminated pyrite or pyrrhotite with graphite at the contact. The felsic volcanics have potential for VMS or volcanogenic gold associated with disseminated sulphides. The North Williams-Dufferin and the Browning-Amyot felsic volcanic belts should be flown with Geotech’s V-Tem airborne electromagnetic and magnetometer system.

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1.0 INTRODUCTION Diamond drilling was carried out on the Theodore Lake Property, in North Williams Township, 100 km north of Sudbury and 30 km southeast of the Shining Tree, Ontario in the Larder Lake Mining Division, totalling 364m in two holes during the period of later September 2011. 2.0 PROPERTY 2.1 Claims The Theodore Lake Property consists of 4 contiguous, non-patented mining claims (Fig.2) totalling 64 units in North Williams and Dufferin Townships in the Larder Lake Mining Division of Ontario. The claims are summarized in Table No. 1 below. The claims total 64 hectares and are registered in the name of Roy Annett. The claims are presently under option to Phoenix Minerals Inc. Table No. 1- Theodore Lake Property-Larder Lake Mining Division Claim No.

TWP Units Recording Date

Due Date Work Required

Work Applied

Owner

$ $ 1200735 North

Williams 16 1993-Dec-

20 2011-Dec-20 4800 76800 Annett

1203980 North Williams

16 1997-Sept-15

2012-Sept-15 3654 85946 Annett

3001405 North Williams

16 2002-Oct-28

2011-Oct-28 6400 44800 Annett

3001406 North Williams Dufferin

16 2002-Oct-28

2011-Oct-28 6400 44800 Annett

Total 64 252346 2.2 Location and Access The property is located approximately 100 km north of Sudbury and 30 southeast of Shining Tree, Ontario (Fig.1, 3). Access is from Shining Tree on Highway 560 for 8 km to the Sandy Lake Road, then south and east to HEPC road to Tracey Lake. An ATV trail leads east for approximately 5 km to the McAra Lake camp of Liberty Mines. An AVT trail leads east for 2.5 km northeast to the Theodore Lake workings.

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2.3 Topography The topography is typical Pre-Cambian terrain with low swampy ground forested with cedar and spruce and steeply rising hills forested with birch, poplar and jack pine. The area east of Tracey Lake has not been harvested. The area is drained to the south. The soil cover is mainly sand and silt with local areas of sand, gravel and boulders between the swamps. The climate is typical of northern Ontario with snow cover and cold weather from mid November until May. 3.0 HISTORY 3.1 Regional History Prospecting in the South Shining Tree area has been mainly for base metals since the 1970’s and 80’s. The Precambrian geology of the area was mapped by W.G. Johns of the OGS in 2003 Shining Tree South Area: Map P.3531: 1: 50,000. In 2010 Map P.3620 Precambrian Geology Geological Compilation of the Maple Mountain Area, Abitibi Greenstone Belt; 1:100,000 OGS Precambrian Geology Compilation Series in 1969 published the Sudbury-Cobalt sheet in Map 2218, at a scale of 1:250 000. Exploration history of the area consists of the following:

1. 1970: Metron Exploration Limited discovered copper-zinc sulphide showing in volcanic rocks between Kite and Tracey Lake in the southern part of North William Township.

2. 1970: Kite Lake showing discovered; VLF-EM survey, trenching and 2 short DDH’s (30 metres) drilled in 1971. The holes intersected scattered fine grained pyrite and chalcopyrite (Willars 1971).

3. 1996-97: Work by Tindale and Annett reported sulphides mapped over a strike length of 800 m between Kite and Tracey Lakes. The mineralization occurs as fine grained disseminated pyrite and chalcopyrite in dacite evident in old trenches. It is also reported in drill logs of Jack Willard in 1971.

4. 1996: Roy Annette reported rusty zones in volcanic rocks at McAra Lake about 4 km southeast of showings near Kite Lake.

5. 1997: VLF-EM survey carried out on claim 1200735. McAra Lake showing described as pyrite-arsenopyrite zone in mafic volcanics assaying 1.48% Zn, 3.5 g/t Au, 4.0 g/t Ag, and 382 ppm Cu. Geological mapping and surface sampling by J. Tindale, P.Eng. in 1996-97; VLF-EM survey in

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6. 1998:OGS carried out a water geochemical survey which produced a number of gold and basemetal anomalies in the North Williams and Dufferin Township area.

7. 1998: Wallbridge carried out airborne electromagnetic and magnetic survey; ground HLEM and induced polarization surveys were carried out on together with trenching, mapping and sampling; At McAra Lake on claim 1200735 Tindale reported the A anomaly to be 400m long in a northwest direction and dipping steeply southwest contains strong pyrite-pyrrhotite mineralization with traces of chalcopyrite, sphalerite and galena. The mineralized zone is a pyritic interflow horizon along the mafic-felsic volcanic contact. Wallbridge worked mainly on the McAra Lake and Kite Lake airborne anomalies which are mineralized. No work was carried out on the Theodore airborne anomaly. Walbridge drilled 13 DDH’s on the McAra anomaly-mineralized zone.

3.2 Property History Two holes in Dufferin Township were drilled in 2006 and 2007 to investigate the eastward extension of the McAra cobalt vein on claim 1203980 (Figure 4 & 7) (Table No. 3). Two holes in North Williams Township were drilled on the Kite Zone by Wallbridge in 2002 which were caused by a zone of 20% pyrite and pyrrhotite with assays of copper up to 0.24% and zinc up to 0.36%. 4.0 GEOLOGY 4.1 Regional Geology The Theodore Lake Property is part of the Superior Province of the Canadian Shield, underlain by the Sub-Province Abitibi Domain of Archean rocks (Figure 8) as a window in the Huronian Super Group.

4.2 Property Geology The Theodore Lake Property is divided into four units as follows which follow fault systems striking northwest-southeast and east-west and northeast-southwest and dip southerly (Figure 6,7,8). The geological legend for the property is as follows: THEODORE LAKE PROPERTY LEGEND Proterozoic Nipissing-diabase Huronian Super Group Archean

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Granite Mafic to intermediate volcanic rocks, usually massive to tuffaceous. 5.0 MINERALIZATION 5.1 Regional Mineralization Regional mineralization is found in the area as follows (Figure 10):

1. Barite Veins: North Williams Barite Mine at Tracey Lake; barite veins in diabase

2. Base Metals: McAara Lake: Co, Ni, Cu in Archean interflow sediments in

mafic volcanics in Dufferin Township.

5.2 Property Mineralization

Untested airborne EM anolamalies occur near Theodore Lake in North Williams Township. 6.0 EXPLORATION 6.1 Diamond Drilling A total of two diamond drill holes were drilled in North Williams Township to investigate an airborne EM anomaly. A total of 364 metres were drilled in two holes (Fig.4, 5, 6, 7, 8) Nos. TP-11-01 and 02. During the period of late September 2011 from September 15 to 30, 2011, Salo Drilling of Connaught, Ontario carried out a drill program in the Theodore Lake area, 30 km southeast of Shiningtree, Ontario. Two holes TP-11-01 and TP-11-02) were drilled in the Theodore Lake area to test an airborne EM anomaly west of Theodore Lake. The holes encountered intermediate volcanic tuff and flow. The holes intersected graphite and pyrite or pyrrhotite at the contact. QA/QC was followed in sampling the BQ core. The core is split in half for sampling. Standards, blanks and duplicates were inserted into the stream of core samples every 20 m. The core was assayed at Swastika Laboratories using 30 gram samples. The core samples were analyzed using the fire assay method and AA finish. Samples of 1g/t Au or greater was re-assayed using the gravimetric method. The drill holes are as located as follows with significant assays.

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Table No. 2-Golden Phoenix Minerals-Theodore Lake Property-2011 Diamond Drill Program Hole ID

UTM Zone 17

Zone Line N

E

Elev Core Size

Az Dip Depth m Claim

Nad 83 TP-11-01

502706E 5250990N

075S 200W BQ 360 -47 164 1203980 3001405

TP-11-02

502706E 5250990N

075S 200W BQ 010 -57 200 1203980 3001405

Total 364 Table No. 3-Golden Phoenix Minerals Inc-Theodore Lake Property-2011 DDH Program- Significant Assays Hole ID UTM

Zone 17 Zone From To Inter

m Au g/t

Py%

Rock Comments

Nad 83 TP-11-01 502706E

5250990N Graph Theodore

Zone TP-11-02 502706E

5250990N Graph Theodore

Zone S-07-01 502729E

5249447N 64.4 64.9 0.50 2 2.5% Co

0.3% Ni McAra Extention

S-06-01 502729E 5249447N

37.5 38.1 0.70 5 0.35% Co

McAra Zone Extension

WKL-01-01 178.8 184 5.6 20 Cu-Zn Kite Zone WKL-01-02 98.8 114.2 15.4 20 Cu-Zn Kite Zone NSV: no significant assays; diss: disseminated pyrite; MV: mafic volcanics; FT: felsic tuff; mag: magnetic; FZ: fault zone; sh’rd: sheared; py: pyrite 7.0 CONCLUSIONS AND INTERPRETATION The airborne EM anomaly was caused by graphite; the zone was assayed for gold and base metals but no visible base metals such as chalcopyrite, sphalerite or cobalt are evident. Assays are not yet available. The felsic volcanics have potential for VMS or volcanogenic gold associated with disseminated sulphides. These volcanic rocks of Archean age occur as window in the Huronian rocks.

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8.0 RECOMMENDATIONS The North Williams-Dufferin and the Browning-Amyot felsic volcanic belts should be flown with GeotechsV-Tem airborne electromagnetic and magnetometer system. Dated at Kirkland Lake, Ontario on December 15, 2011. “signed and sealed” ________________________ Fred J. Sharpley, B.A. (Sc), P.Geo.

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9.0 REFERENCES EMR Topographic Map: 41/P (1981) 1:50,000 O.G.S. Bedrock Geology of Ontario (1991) Map 2543: 1:1,000,000 O.G.S. Shaded Image of Total Magnetic Field of (1991) Ontario. Map 2586: 1:1,000,000 O.G.S. Vertical Magnetic Gradient of Ontario (1991) Map 2590: 1:1,000,000 O.G.S. Tectonic Assemblages of Ontario; (1992) Map 2577; 1:1,000,000 O.G.S. Assessment Work Files: Kirkland Lake O.G.S. The Precambrian geology of the area was mapped by W.G Johns of the OGS in 2003 “Shining Tree South Area”: Map P.3531: 1: 50 000”. 2011 Claim Map: North William and Dufferin O.G.S. Precambrian Geology Compilation Series, Sudbury-Cobalt Sheet 2188 1:250 000 Tindale, J.L. and Annett, Roy: Report on Excavator Stripping Program on the (2008) Theodore Lake Property in North William Township, Larder Lake Mining Division, Ontario.

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10.0 CERTIFICATE OF QUALIFICATIONS

I, Frederick James Sharpley of the Town of Kirkland Lake, Province of Ontario, do

hereby certify:

1) That I am a consulting geologist and reside at 3 Gov’t Road East, Unit 10, P.O.

Box 433, Kirkland Lake, Ontario, P2N 3J1.

2) That I graduated from the University of Saskatchewan, Saskatoon,

Saskatchewan, holding a degree of Bachelor of Arts (Science-Geology:1959).

3) That I have practised my profession as a mineral exploration geologist for a period of 50 years. I have worked as a geologist continuously for a total of 50 years since graduation from university. I have been directly involved in exploration for base metals, uranium, gold and silver mainly in Canada but also in Mexico, Central America and Africa. I also worked for five years as a mine geologist for Temagami Mining Company Ltd. (a VMS copper mine). Recently I have worked for Opawica Explorations Inc. on the Maybrun gold-copper deposit; for Pelangio Mines Inc. and Detour Gold Corp. on the Detour gold deposit; for Wolfden and Sabina on the Follansbee (Bonanza) gold deposit in Red Lake; and NFX on the West Bear Lake gold deposit in the Larder Lake area; and for Mistango River Resources Inc on the Omega deposit.

4) That I am a practising member of the Association of Professional Geoscientist of

Ontario (APGO) # 0249.

5) That I personally supervised the field work and wrote the report.

6) That I have no financial interest in the Theodore Lake Property in South Shining

Tree Area, Ontario.

Dated at Kirkland Lake, Ontario on December 15, 2011.

“signed and sealed”

________________________

Fred J. Sharpley, B.A. (Sc), P.Geo.

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APPENDIX I: LIST OF FIGURES

Figure 1: Location Map Figure 2: Claim Map Figure 3: Topographic-Access Map Figure 4: Drill Hole Plan Figure 5: Section – DDH: TP-11-01 Figure 5a: Section – DDH: TP-11-02 Figure 6: OGS Regional Geological Map P.3620 Figure 7: Theodore Lake Property Google Image Figure 8: OGS Local Geological Map P.3531

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GOLDEN PHOENIX MINERALS INC.


Property Location

Figure 1 December 2011

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(meters)NAD83 / UTM zone 17N

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GOLDEN PHOENIX MINERALS INC.THEODORE LAKE PROPERTY

Map Drawn By: Lisa LaRocqueDecember 2011

South Shining Tree Area

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Figure 3

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VERTICAL EXAG. 1.139TOLERANCE +/- 0.615 mSECTION TOP, BOT 427.8 m 250 mEXTENTS 158.5 m 177.7 mREF. PT. E, N 502706 m 5251050 mSECTION SPECS:

FELSITEFSDACITEDacINTERMEDIATE TUFFITGRAPHITIC BRECCIAGph-BxOVERBURDENOVBDRock

ROCK CODES PAT LABEL DESCRIPTION




502640 E 502640 E

502660 E 502660 E

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VERTICAL EXAG. 1.139TOLERANCE +/- 0.599 mSECTION TOP, BOT 416.3 m 203 mEXTENTS 158.5 m 213.3 mREF. PT. E, N 502715 m 5251044 mSECTION SPECS:

DACITEDacINTERMEDIATE TUFFITGRAPHITIC BRECCIAGph-BxOVERBURDENOVBDRock

ROCK CODES PAT LABEL DESCRIPTION




502650 E

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APPENDIX II:

DIAMOND DRILL HOLE LOGS

DDH NO.-TP-11-01 DDH NO.-TP-11-02

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0.00South Shining Tree

GRID: DI Virtual: Theodore Grid

Claims: 1203980 200W 075S 0502706E 5250990N NAD 83 0 360.00 -47.00 164.00 Start: September 15, 2011; End: September 20, 2011

DRILL COMPANY: Salo Drilling FJS

TP-11-01.xls

GOLDEN PHOENIX MINERALS INC. DDH#: TP-11-01South Shining Tree UTM GRID LOCATION: North Williams TWP., Ontario Drill Company: Salo Claims: 1203980 3001405DDH#: TP-11-01 5250990N DRILL COMPANY: Salo Drilling BQ CoreAz 360 0502706E GRID: DI Virtual: Theodore Grid Logged by: Fred SharpleyDIP -47 ZONE 17 E 200WE.O.H: 164.00 NAD 83 N 075SElev.: Start: September 15, 2011; End: September 20, 2011

From To Rock Type Code Description Sample# % Sul From To m Au g/t Au g/t Cu % Zn % Pb % Mo %Grav

0.00 3.00 OVBD OVBD casing left in hole

3.00 44.35 Inter. Tuff ITIntermediate Tuff: medium grey, very fine grained, banded at 70-80 CA; fine red garnets

33.56 0.05 quartz vein at 60 CA

44.35 45.75 Felsite FS Felsite: pale pink, very fine grained, banded at 70 CA

45.75 50.00 Inter. Tuff ITIntermediate Tuff: medium grey, very fine grained, banded at 70-80 CA;

50.00 50.64 Felsite FS Felsite: pale pink, very fine grained, banded at 70 CA


62.10 62.50 Graph-Bx Gph-BxGraphitic Breccia: graphitic with white carbonatebreccia at 70 CA


66.35 67.40 Felsite FSFelsite: pale pink, very fine grained, banded at 70 CA;pale pink felsite with 20% mafic mineral 2mm

56001 65.35 66.35 1.00

67.40 71.23 Graph-Bx Gph-BxGraphitic Breccia: graphitic with white carbonatebreccia at 70 CA; 3-8% pyrite in brecciated zones 56002 66.35 67.40 1.05

56003 1 67.40 68.40 1.00

71.23 164.00 Dacite DacDacite: light grey, very fine grained, fairly massive uniform 56004 8 68.40 69.00 0.60

56005 5 69.00 70.00 1.0073.80-74.20 pink carbonate breccia at 70 CA 56006 3 70.00 71.20 1.20

56007 71.20 72.00 0.80

1 of 2 12/21/2011

TP-11-01.xls

From To Rock Type Code Description Sample# % Sul From To m Au g/t Au g/t Cu % Zn % Pb % Mo %90.00-91.750 1-3% disseminated pyrite 56008 89.00 90.00 1.00

56009 1 90.00 91.00 1.00

56010 Standard SH4156011 2 91.00 91.75 0.7556012 91.75 92.50 0.7556013 5 131.00 132.00 1.00

131.00-133.0 3-5% disseminated pyrite in graphiticargillite 56014 3 132.00 133.00 1.00

56015 133.00 134.00 1.00142.20-143.20 3-5% disseminated pyrite in graphiticargillite 56016 2 142.00 143.00 1.00

56017 2 143.00 144.00 1.00164.00 EOH

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TP-11-01.xls

DDH Sample # From To Width g/t Au Rock %S #QV %QV Py Ser Sio2 Alteration Comments # of samp=16TP-11-01 OVB 0TP-11-01 56001 65.35 66.35 1.00 0.00 FT SAMPLE STARTTP-11-01 56002 66.35 67.40 1.05 0.00 FTTP-11-01 56003 67.40 68.40 1.00 0.00 Grap 1 1TP-11-01 56004 68.40 69.00 0.60 0.00 Grap 8 8TP-11-01 56005 69.00 70.00 1.00 0.00 Grap 5 5TP-11-01 56006 70.00 71.20 1.20 0.00 Grap 3 3TP-11-01 56007 71.20 72.00 0.80 0.00 DacTP-11-01 56008 89.00 90.00 1.00 0.00 DacTP-11-01 56009 90.00 91.00 1.00 0.00 Dac 1 1TP-11-01 56011 91.00 91.75 0.75 0.00 Dac 1 1TP-11-01 56012 91.75 92.50 0.75 0.00 DacTP-11-01 56013 131.00 132.00 1.00 0.00 DacTP-11-01 56014 132.00 133.00 1.00 0.00 Dac 3TP-11-01 56015 133.00 134.00 1.00 0.00 DacTP-11-01 56016 142.00 143.00 1.00 0.00 Dac 2TP-11-01 56017 143.00 144.00 1.00 0.00 Dac 2

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0.00 TheodoreGRID: DI Virtual: 200W-400N

Claims: 1203980 200W 400N 0502706E 5250990N NAD 83 0 10.00 -57.00 200.00 Start: September 21, 2011; End: September 30, 2011

DRILL COMPANY: Salo Drilling FJS

TP-11-02.xls

GOLDEN PHOENIX MINERALS INC. DDH#: TP-11-02Theodore UTM GRID LOCATION: North Williams TWP., Ontario Drill Company: Salo Claims: 1203980 3001405DDH#: TP-11-02 5250990N DRILL COMPANY: Salo Drilling NQ CoreAz 10.00 0502706E GRID: DI Virtual: 200W-400N Logged by: Fred SharpleyDIP -57.00 ZONE 18 E 200WE.O.H: 200.00 NAD 83 N 400NElev.: Start: September 21, 2011; End: September 30, 2011

From To Rock Type Code Description Sample# % Sul From To m Au g/t Au g/t Cu % Zn % Pb % Mo %Grav

0.00 3.00 OVBD OVB casing left in hole



69.50 96.50 Dacite DacDacite: light grey, very fine grained, fairly massive uniform


98.85 200.00 Dacite DacDacite: light grey, very fine grained, fairly massive uniform

145.30-147.50 15% streaks of pyrrhotite in chlorite zone

187.30-188.30 white quartz-carbonate vein at 20-30 CA

56018 65.00 65.50 0.5056019 2 65.50 66.50 1.0056020 2 66.50 67.50 1.0056021 67.50 68.00 0.5056022 2 68.00 69.00 1.0056023 69.00 69.50 0.5056024 69.50 70.00 0.5056025 96.00 96.50 0.5056026 2 96.50 97.50 1.00

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TP-11-02.xls

From To Rock Type Code Description Sample# % Sul From To m Au g/t Au g/t Cu % Zn % Pb % Mo %

56027 Standard SH41 ###56028 1 97.50 98.00 0.5056029 2 98.00 98.85 0.8556030 98.85 99.50 0.6556031 144.80 145.30 0.5056032 20 145.30 146.40 1.1056033 5 146.40 147.50 1.1056034 1 187.30 188.30 1.00

200.00 EOH DupBlank

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TP-11-02.xls

DDH Sample # From To Width g/t Au Rock %S #QV %QV Py Ser Sio2 Alteration Comments # of samp=17TP-11-02 OVB 0TP-11-02TP-11-02TP-11-02 56018 65.00 65.50 0.50 0.00 FT SAMPLE STARTTP-11-02 56019 65.50 66.50 1.00 0.00 Graph 2 2TP-11-02 56020 66.50 67.50 1.00 0.00 Graph 2 2TP-11-02 56021 67.50 68.00 0.50 0.00 GraphTP-11-02 56022 68.00 69.00 1.00 0.00 Graph 2 2TP-11-02 56023 69.00 69.50 0.50 0.00 DacTP-11-02 56024 69.50 70.00 0.50 0.00 DacTP-11-02 56025 96.00 96.50 0.50 0.00 Graph 2 2TP-11-02 56026 96.50 97.50 1.00 0.00 Graph 1 1TP-11-02 56028 97.50 98.00 0.50 0.00 Graph 2 2TP-11-02 56029 98.00 98.85 0.85 0.00 DacTP-11-02 56030 98.85 99.50 0.65 0.00 DacTP-11-02 56031 144.80 145.30 0.50 0.00 DacTP-11-02 56032 145.30 146.40 1.10 0.00 Graph 20 pyrrhotiteTP-11-02 56033 146.40 147.50 1.10 0.00 Graph 5 pyrrhotiteTP-11-02 56034 187.30 188.30 1.00 0.00 Dac 1 65 1TP-11-02 0 0.00 0.00 0.00 0.00

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APPENDIX III:

ASSAY CERTIFICATES

exploration report on diamond drilling theodore …...shining tree, ontario (fig.1, 3). access is...

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