V

RECEIVED

FEB 19 2003

6EOSCIEMCE ASSESSMENT _____OFFICE

Wallbridge Mining Company LimitedMagnetometer Geophysical Survey

Performed by: Geoserve Canada Inc.Worthington East Property

Lorne Township, Sudbury DistrictNTS: 41/1/6

Prepared by: Jonathan Rudd, P.Eng. Geophysicist 216D'YouvilleSt. Sudbury, Ontario February 19,2003

41I06SW2006 2.25026 LORNE 010

Table of Contents

1. Introduction

2. Location and access

3. Property

4. History of Exploration

5. Current Grid Establishment and Ground Magnetic Survey

6. Discussion of Results and Recommendations

7. References

8. Maps

1. Introduction

Wallbridge Mining Company Limited believes the footwall rocks of the Sudbury Igneous Complex (SIC) hold excellent potential for footwall style mineral deposits and deposits associated with quartz diorite offset dikes. They acquired the Wallbridge East property to prospect for the offset dike type of mineralization. The property is considered as prospective for locating the possible southwestern extension of the Worthington offset dike. A magnetometer survey was performed to help interpret the geology and identify areas for potential mineralization.

2. Location and Access

The property is located in Lorne Township in the District of Sudbury. The claims are situated just north of Beaver Lake, which is near the TransCanada Highway (#17) about 25km west of Lively (Walden). Several all-season secondary roads in the area can be used to access the property.

3. Property

The Worthington East property is located in the northern half of Lot 5, concession 5 of Lorne Township, Sudbury Mining Division. The claim status is as follows:

Claim #1246132

Size (units)3

Recording DateMarch 5, 2001

Due DateMarch 5, 2003

The claim is in good standing and is wholly owned and operated by Wallbridge Mining Company Limited.

4. History of Exploration

1999: Wallbridge Mining Company Limited - Induced Polarization surveying - single line

5. Current Ground Magnetic Survey

No cut grid was established for the ground magnetic survey of the property. 9 lines with a nominal line spacing of 100m extending in a north south orientation were surveyed. Positioning on the survey lines was established every 200m or so using a hand held OPS unit with. The survey lines were designated 0+OOE to 8+OOE inclusive.

The ground magnetic survey was completed using a GSM-19 overhauser magnetometer manufactured by GEM Systems, Inc. This instrument measures the total magnetic field with a sensitivity of 0.015 nT and an absolute accuracy of 0.2 nT. A base station was established on the north side of the High Falls westerly access road at coordinate 461963mE and 5133003mN (UTM Zone 17N, NAD27 datum coordinates). A value of 56,OOOnT was used as the reference field.

The ground magnetic survey was conducted on all lines and comprises 220 individual measurements taken at a 25 m station interval for a total of 5.4 line-km.

The survey results are presented on two maps attached to this report. The first contains the individual measurements posted on the surface grid. The second represents the data as contours using a contour increment of 25 nT. Both maps are presented at a scale of l :5,000 using the NAD27 datum and projected using the UTM zone 17N coordinate system.

6. Discussion of Results and Recommendations

The magnetic measurements have a relatively low dynamic range with a low of 56,580 nT and a high of 57,809 nT. The background response is approximately 56,725 nT. In general, the survey results produce a generally mottled pattern of highs and lows with little line to line correlation of individual anomalies.

The data set is dominated by four highs which occur at 462300E, 5133000N; 462150E, 5132630N; 462050E, 5132450; and 462780E, 5132650N. These features are interpreted to reflect local concentrations of magnetite or pyrrhotite in the sedimentary rocks or structures on the property.

These data could be used in conjunction with other geophysical data sets to interpret and prioritize targets for pyrrhotite-rich massive sulphide sources. It is recommended that representative measurements of magnetic susceptibility be taken from the various lithologies in the survey area to confirm the source of the main magnetic features.

7. References

Geologic map 2361

8. Maps

(in back pocket) l :5000 Total Magnetic Field - Contoursl :5000 Total Magnetic Field - Postings

Respectfully Submitted,

Jonathan Rudd, P.Eng. Geophysicist

MINISTRY OF NORTHERN DEVELOPMENT AND MINES

Transaction No: W0370.00274

Recording Date: 2003-FEB-19

Approval Date: 2003-APR-25

Work Report Summary

Status: APPROVED

Work Done from: 2002-SEP-01

to: 2003-FEB-15

Client(s):

392385

Survey Type(s):

WALLBRIDGE MINING COMPANY LIMITED

MAG

Work Report Details:

Claim*Perform Appliedperform Applied Assign Reserve

Perform Approve Applied Approve Assign Approve Reserve Approve

S 1246132 S2.664 S2,664 ~ - ~--.S2.664 52,664

S2.664 S2.664 32,664 S2.664

SO

SO

O

SO

SO

SO

Due Date

SO 2005-MAR-05

SO

External Credits:

Reserve:

SO

SO Reserve of Work Report* W0370.00274

SO Total Remaining

Status of claim is based on information currently on record.

41I06SW2006 2.25026 LORNE 900

2003-May-06 13:27 Armstrong-d Page 1 of 1

Ministry ofNorthern Developmentand Mines

Date: 2003-APR-28

Ministers du Developpement du Nord et des Mines Ontario

GEOSCIENCE ASSESSMENT OFFICE 933 RAMSEY LAKE ROAD, 6th FLOOR SUDBURY, ONTARIO P3E 6B5

WALLBRIDGE MINING COMPANY LIMITED 129 FIELDING ROAD LIVELY, ONTARIO P3Y1L7 CANADA

Tel: (888) 415-9845 Fax:(877)670-1555

Dear Sir or Madam

Submission Number: 2.25026 Transaction Number(s): W0370.00274

Subject: Approval of Assessment Work

We have approved your Assessment Work Submission with the above noted Transaction Number(s). The attached Work Report Summary indicates the results of the approval.

*At the discretion of the Ministry, the assessment work performed on the mining lands noted in this work report may be subject to inspection and/or investigation at any time.

Yours Sincerely,

Ron Gashinski

Senior Manager, Mining Lands Section

Cc: Resident Geologist

Mark Hall (Agent)

Wallbridge Mining Company Limited (Assessment Office)

Assessment File Library

Wallbridge Mining Company Limited (Claim Holder)

Visit our website at http://www.gov.on.ca/MNDM/LANDS/mlsmnpge.htm Page: 1 Correspondence 10:18214

ONTARIOCANADA

WNISTRV OF NORTHERN DEVELOPMENT AND MINIS

PROVINCIAL HININO RECORDER'S OFFICE

Mining Land Tenure Map

4880001*

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Thoae wishing lo atako mining daima should consult wilh the Prowndal Mining Recorders' Office of the Ministry of Northern Development and Mines for additional General Information and Limitationsinformation on the status of the lands shown hanson. This mgp is not Intended for navigational, aurvey, or (and tide determination purposes as the information Contact Information: Toll Free Map Datum: NAD 83shown on this map Is compiled from various source*. Completeness and accuracy are not guaranteed. Additional information may also be obtained through the Provincial Mining Recorders' Office Tel: 1 (888) 41S-BM5 eld 67t8)jecHon: UTM (6 degree)local Land Titles or Registry Office, or the Mlnlitry of Natural Resources. Willet Green Miller Centre 933 Ramsey Lake Road Fax: 1 (877)670-1444 Topographic Data Source: Land Information Ontario

Sudbury ON P3E 6B5 Mining Land Tenure Source: Provincial Mining Recorders' OfficeThe information shown Is derived from digital data available In the Provincial Mining Recorder!' Office at the time of downloading from the Ministry of Northern Home Page: www.mndm.gov.on.ca/MNDM/MINES/LANDS'miemnpga.ntni Development and Mines web situ.

This map may not ahow unregistered land tenure and interests in land including certain patents, teases, easements, right of ways, flooding rights, licences, or other forms of disposition of rights and interest from tha Crown. Also certain land tenure and land uses that restrict or prohibit frae entry to stake mining claims may not be illustrated.

Date l Time of Issue: Frl Apr 25 15:44:43 EOT 2003

TOWNSHIP ; AREA PLAN LORNE G-4074

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41I06SW2006 2.25026 LORNE 200

ONTARIOCANADA

MINIS TUT OF NORTHERN DCVELOPMCHT ANO MHIE3

MOVMCUU. HIM 1*0 RECORD*r* OFFICE

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41I06SW2006 2.25026 LORNE230

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