EuroIR

Drilling Intersects 0.11%Mo Over 524 Meters at the Lone Pine Property, B.C.

BVU: Frankfurt

NI 43-101 Resource:

Measured + Indicated 110,340,000 tonnes Grading 0.083% Molybdenum

Ideal location with established infrastructure

The Property has access to an existing infrastructure including:

- Highway 16;

- Natural gas pipeline;

- Major hydro power transmission line and transformer sub-station;

- Located only 15 kilometers from the CN rail line in Houston, BC.

The Lone Pine Property consists of 7 mineral claims covering 1051 hectares, which are approximately 15 kilometers north-northwest of Houston, BC, and are situated in the Omineca Mining Division. Exploration or mining activities have been conducted on and around the area of the Lone Pine Claims since early in the last century, with a considerable amount of geological, geophysical, and geochemical work having been done on the Property since 1976. The Company is extremely pleased with the initial results on the first phase of drilling as significant molybdenum mineralization was intersected in all holes over such a large area, 1,200m by 1,000m, indicating a large geological system favorable for molybdenum deposition.

The main exploration method, which started in January 2008, has been diamond drilling with emphasis on the Alaskite Zone and additional drilling completed in the Quartz Breccia and Granby Zones. Twenty-five drill holes totaling 15,739.6 metres were drilled in the Alaskite Zone, 2,476.7 metres were drilled in five drill holes in the Quartz Breccia Zone and 576.7 metres were drilled in two drill holes in the Granby Zone. A total of 18,793 metres were drilled in 2008 on the Lone Pine Property.

The drilling programs completed to date have provided positive results and have also confirmed molybdenum mineralization in all holes drilled over the entire Lone Pine Property. The drilling in the Alaskite Zone has confirmed a higher grade molybdenum core within a larger, approximately 550 metres by 310 metres in plan view, mineralized body that has a northwest/southeast attitude and a steep southwesterly dip.