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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (4751)	6/22/2003 8:40:51 AM
From: kidl	Read Replies (1) \| Respond to of 8273

Eric, Thanks for taking the time. Sure nice to be able to call on the pro(s). I have one more question if you don't mind. As I mentioned before, Rocket came up with a $400 rock value over on Stockhouse. Does this number make any sense to you based on the latest assay results? Cheers, kidl Complete Assay Results 6/16/03 The Company wishes to report receipt of complete assay results from the 4 holes presently drilled on the Mingan titanium option. The results confirm the overall grade homogeneity of the massive hemoilmenite and generally fall within the ranges of the previously reported character samples taken from Hole #3 (May 9, 2003 News Release). Hole #1 returned an average 33.84% TiO2, 56.38% Fe2O3, and 2.4% MgO over 8.38 metres, from 1.68 metres to 10.06 metres in the hole. Hole #2 returned a number of sections, the first averaging 35.43% TiO2, 58.85% Fe2O3, and 2.12% MgO over 7.34 metres, from 5.54 metres to 12.88 metres in the hole and the second 35.09% TiO2, 58.63% Fe2O3 and 2.22% MgO over 5.39 metres, from 24.51 to 29.90 metres in the hole. A series of four thin massive horizons between 12.88 metres and 24.5 metres in the hole each averaged 1.2 metres thickness and returned average grades of 34.68% TiO2, 58.1% Fe2O3 and 2.12% MgO. Hole #3 returned an average of 34.05% TiO2, 57.31% Fe2O3 and 2.27% MgO over 24.61 metres, from 3.92 metres to 28.53 metres in the hole. Hole #4 returned two major sections, averaging 31.67% TiO2, 51.61% Fe2O3 and 2.10% MgO over 8.47 metres, from 1.28 metres to 9.75 metres in the hole, and 33.02% TiO2, 56.71% Fe2O3 and 1.94% MgO over 12.0 metres from 26.84 metres to 38.84 metres in the hole. A narrow 0.36 metre section from 10.64 metres to 11.0 metres in the hole returned 36.0% TiO2, 59.50% Fe2O3 and 1.98% MgO. Assays were carried out by ALS Chemex/Chimitec in Val D'Or, Quebec. The Company plans to resume drilling at the end of the month. CONTACT: TEL: 514-481-3172 Peter H. Smith, Ph.D.,P.Eng., President FAX: 604-434-8823