Drill Results

Micon International Limited, mineral industry consultants, following an independent review of the Hat Project, confirms Doubleview’s identification of the Lisle Zone as an alkalic copper-gold porphyry deposit with significantly elevated gold values. Copper and gold comprise approximately 85% of the total value of the deposit, with copper accounting for 45 to 52% of the value, and gold accounting for 32 to 41%. Although cobalt could contribute 13 to 15% to the value, it is not included in the following metal equivalent estimates due to unresolved issues about its recovery and payability.  Similarly, silver and palladium are not included.

The Company notes that the Lisle Zone, of the Hat deposit, is not fully delineated in any direction but present drilled dimensions are approximately 920 metres north-south, 650 metres east-west and about 620 metres vertical. As previously announced and detailed below, the most recent hole, H034, that was directed to a high-resolution 3D induced polarization and magnetic anomalous area in the southwest of the Zone, intersected 689 metres of strong disseminated sulphide mineralization. This is the strongest mineralization drilled on the property and presents a very compelling target for expansion that will be further explored when drilling resumes.

Drill core and standard QA/QC samples are forwarded to a fully accredited wholly independent analytical laboratory in Vancouver. Analytical methods include multi-acid digestion followed by ICP-AES analysis of 34 elements. Over-limit analyses are further processed by “Ore Grade” methods. Gold is determined by Fire Assay and Atomic Adsorption Spectrometry methods.

Hat Project assays indicate that gold to copper ratios increase with depth, particularly in zones where strong potassic alteration is accompanied by heavy magnetite mineralization, as in holes H-022 and H-023.  Current on-going studies of the metal abundances and ratios, and the distribution of base-metals, and other major and trace elements is focused on targeting higher copper-gold grades in the system.

Hat Copper Porphyry Gold Assay Results:

* AuEq and CuEq are calculated on the basis of long-term metal prices: Au US$1300/oz, Cu US$2.60/lb
– CuEq (%) = ([(%Cu) x (22.0462) x ($2.6) + (g/t/Au) x (1/31.1035) x ($1300)]) ÷ ((22.0462) x ($2.60))).
– AuEq (g/t) = ([(%Cu) x (22.0462) x ($2.6) + (g/t/Au) x (1/31.1035) x ($1300)])/($1300 x1/31.1035)
– The calculation of AuEq and CuEq does not include Cobalt.
– No metallurgical recovery tests have been conducted: Gold and Copper assays are reported at 100% recovery and were directly converted from copper and gold assays.