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The Silvermines Project is 100% owned by the Company and is located eight kilometres south of the market town of Nenagh on the northern flank of the Silvermines Mountains of northern County Tipperary, covering 133 square kilometres. Silvermines is considered highly prospective for Irish-type zinc-lead deposits and has had little to no exploration activity over the past 20 years due to a now resolved reclamation dispute on an adjoining property. The property is located adjacent to the historic Silvermines Zinc Mine which produced approximately 10.8 million tonnes grading 7.4% zinc and 2.7% lead2 between 1968 and 1982.

Property location map of the Silvermines Project (and Silvermines North Project) Ireland

Property location map of the Silvermines Project (and Silvermines North Project) Ireland

Exploration opportunities exist at the Cooleen prospect, located approximately 1km north-east of the Silvermines historic deposit. In the early 1990s, a number of encouraging holes were drilled at Cooleen (e.g. NX-11 which cut 5.8 metres of massive sulphides averaging 17.9% Zn and 1.9% Pb) before the reclamation dispute (now resolved) stalled subsequent drilling. The Company has compiled a comprehensive database of all 78 drillholes completed on the Silvermines Project episodically from the early 1960’s to 1996. Drillholes were invariably vertical but only approximately 50 percent reached the target depth at the base of the Waulsortian Reef. The project should benefit from new insights and understanding of Irish Type zinc deposits and the application of modern exploration tools and techniques.

Silvermines

Significant historic drilling intercepts from Silvermines include:

Silvermines

Note: As the drillholes are all vertical or close to vertical and the mineralized body is believed to be more or less flat, therefore the interval width is taken as true thickness. Historic drill results have not been verified by a qualified person as the samples forming the basis of such results are not available to the Company and accordingly no quality assurance programs or quality control measures were applied by the Company.

Scientific and technical information in set out in this website has been approved by John Barry, who is a Qualified Person for the purposes of National Instrument 43-101 and who is the Vice President, Exploration Strategy of the Company

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