Oromin Explorations Ltd.
OTC Bulletin Board : OLEPF
TSX : OLE

Oromin Explorations Ltd.

January 29, 2010 20:07 ET

Oromin Provides Exploration and Development Highlights and 2010 Objectives for OJVG Sabodala Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2010) - Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) ("Oromin"), on behalf of the Oromin Joint Venture Group (OJVG), is pleased to review exploration and development highlights and 2010 objectives for the OJVG Sabodala Gold Project in eastern Senegal, West Africa.

Continuing Successful Exploration Results and Development Progress in 2009:



-- 212 sq km property position in West Africa's fastest growing gold camp,
with one operating mine and more than 10 million ounces of gold
resources reported to date by the various Companies with holdings in
this camp.
-- Oromin has defined 7 gold deposits, 4 new discoveries and 18 gold
targets within a 22-km-long, 5-to-8-km wide, northeast-trending
structural corridor within the OJVG Concession.
-- Eastern Side of the Corridor hosts four Golouma Style Higher Grade
deposits with combined open-pit and underground potential, similar to
shear-hosted vein-type deposits hosted in greenstone belts, as occur in
Canada's Kirkland Lake and Red Lake gold camps and Ghana's producing
gold camps in West Africa. These gold camps are known for deposits with
high gold grades, considerable lateral and vertical extensions and very
long mine lives.
-- Western Side of the Corridor hosts three Masato Style Bulk Tonnage open-
pit deposits, numerous similar targets and prospects, as well as the
adjacent Sabodala open-pit gold deposit being mined by Mineral Deposits
Limited (MDL) of Australia at its 20-sq-km concession.
-- Existing resource of 2.19 M oz. Indicated and 0.35 M oz. Inferred is
based on drilling only to May 2009 and does not include mineralization
drilled below conceptual open pits used to constrain this resource
calculation or drilling of five new discoveries, one of which,
Kourouloulou, has been upgraded to deposit status. For resource details
please refer to Oromin's News Release dated November 20, 2009.
-- Preliminary CIL metallurgical results are excellent, yielding recoveries
of 90% at Golouma West and Golouma South, 95% at Masato and 96% at
Kerekounda.
-- 184 holes (130 core, 39 RC and 15 exploration holes) drilled since the
May 2009 resource calculation to year-end 2009, successfully focused on
adding deep higher-grade underground resources at Kerekounda and other
advanced deposits and developing new higher grade open-pit resources at
Kourouloulou and several other recent discoveries.
-- Financings totalling $26.9 Million completed in 2009, primarily to
advance Sabodala, resulting in IAMGOLD acquiring a 16% equity stake in
Oromin.


2010 Objectives



-- Government Mining Permit expected shortly, following recent approval of
the Company's Strategic Environmental Evaluation (SEE) Report.
-- Upgraded feasibility study in progress and scheduled for completion at
the end of Q2 2010, to allow OJVG to fast-track development of the
project.
-- Decision to advance to feasibility rather than optimize the August, 2009
engineering study based on rapidly expanding potential of the project.
-- Q2 2010 Feasibility Study will be based on an updated resource estimate
for five advanced deposits (Golouma West, Golouma South, Masato,
Kerekounda, Kourouloulou) and two other deposits (Niakafiri SE and Maki
Medina).
-- Feasibility Study to focus on a proposed open-pit/underground mine
complex, with initial production from five deposits feeding a central
carbon-in-leach (CIL) mill with a capacity of 4,400 tonnes per day
(TPD). Mill capacity can be increased to about 7,000 TPD when processing
soft oxide and saprolite ores.
-- Preliminary gold recoveries of 80% for Masato's oxide mineralization
suggest potential for future heap leach mining. This opportunity will
continue to be evaluated, however the higher daily throughput option
(CIL) currently appears more favourable.
-- Four drills presently assigned to feasibility engineering and
geotechnical drill program.
-- Three additional drills being mobilized to continue advanced exploration
and resource drilling including deeper evaluation targeting higher-grade
underground resource expansion at all of the known deposits.
-- OJVG working towards reporting resources at four new discoveries -
Golouma Northwest, Kobokoto, Koulouqwinde and Koutouniokollo - after
completion of the Feasibility Study.
-- Regional exploration will aggressively continue to evaluate 18 high-
potential gold targets.
-- Environmental and Social Impact Assessment to be completed in 2010.
-- Social programs and community consultation have resulted in strong
government and local support for the project and will continue in the
years ahead.


Drilling Extends Mineralization at Deposits and Expands Resource Potential

Previous resource drilling (to May 2009) has focused on the Golouma Style Higher Grade deposits (Golouma West, Golouma South, Kerekounda and Kourouloulou) on the Eastern Side of the Corridor and the Masato Style Bulk Tonnage open pit deposits (Masato, Niakafiri SE and Maki Medina) on the Western Side of the Corridor (See attached map and resource table).

More recent drilling is primarily focused on outlining additional resources at the Golouma area deposits within the Golouma Style Higher Grade Gold Trend, including drilling the high-grade, down-dip extensions of current indicated resources at the Kerekounda, Golouma West and Golouma South Deposits and defining two recent high-grade discoveries, Kourouloulou (formerly Epsilon) and Koulouqwinde (formerly Cloverleaf).

These deposits are all situated within easy trucking distance of each other. Potential exists for some of the higher grade deposits to coalesce at depth.

Underground drill testing is generally on 20-metre spacings; initial open-pit testing is on 40-metre spacings and is reduced to 20-metre spacings where deemed necessary.

The attached tables set out selected historic and recent drilling results at each of the advanced deposits with existing resources, or which have been or are poised to be upgraded to deposit status.

Golouma Style Higher Grade Gold Trend

Golouma West Deposit:



-- 24 new core holes have been drilled at Golouma West beyond the drill-
holes used in last year's resource estimate. This drilling has targeted
higher grade mineralization as deep step-out holes, both down-dip and
laterally from previously defined Indicated Resources. Drilling thus far
has tested the Golouma West deposit over a strike extent of 1,100 metres
and to average down-dip depths of 420 metres. Favourable results have
confirmed expansion opportunities both laterally and to depth at this
advanced open-pit/underground deposit.
-- Recent highlights include hole DH-539, which returned 17.54 g/t gold
over 10 metres, and hole DH-617, which returned 10.04 g/t gold over 8
metres. Hole DH-617 is the deepest down-dip intersection within one of
the high-grade shoots comprising the underground mining opportunity at
the Golouma West deposit. The 10.04 g/t gold over 8 metre intersection
in hole DH-617 is located at a down-dip depth of 350 metres, 30 metres
further down-dip below DH-539, and is an excellent example of resource-
additive higher grade targeting of the underground deep-drilling
resource program.
-- The Golouma West Deposit remains open for expansion both to depth and to
the North and South on the Western limb.


Golouma South Deposit:



-- Nine new core holes have been drilled at Golouma South beyond the drill-
holes used in last year's resource estimate. This drilling has also
targeted higher grade mineralization as deep step-out holes, both down-
dip and laterally from previously defined indicated resources. Drilling
thus far has tested the Golouma South deposit over a strike extent of
650 metres and to average down-dip depths of 250 metres.
-- Favourable results to date have confirmed expansion opportunities
laterally and at depth at this advanced open-pit/underground deposit.
-- Recent deep drilling results continue to intersect strong mineralization
beyond previous resource outlines including 8.01 g/t gold over 6 metres
and 12.24 g/t gold over 7 metres both of which are in excess of 250
metres depth. The deposit remains open for expansion both to depth and
laterally along trend.


Kerekounda Deposit:



-- 24 new core holes and 13 RC holes have been completed to year-end 2009
since the previous resource estimate, primarily as deep step-outs
targeting higher grade mineralization both down-dip and laterally from
previously defined Indicated Resources. These successful holes have
confirmed that the higher grade zones comprising the combined open-
pit/underground deposit remain open to expansion, both laterally and to
depth, providing a future resource expansion opportunity. Drilling thus
far has tested the Kerekounda deposit over a strike length of 390 metres
and to average down-dip depths of 450 metres. Results from these holes
will be included in the Q2 2010 resource update.
-- Drilling highlights include 15.33 g/t gold over 12 metres and 10.12 g/t
gold over 13 metres and 25.34 g/t gold over 7 metres. Recent deep
drilling continues to return positive results, notably 7.17 g/t gold
over 9 metres and 7.89 g/t gold over 4 metres both of which are below
350 metres in depth.
-- The deposit remains open for expansion both to the south and to depth.


Kourouloulou Deposit (formerly Epsilon):



-- 66 new core holes and 3 new RC holes were drilled at this newly
discovered open-pit/underground deposit. This drilling outlined a
multiple quartz vein system over a strike length of 220 metres and to
depths of 200-225 metres. Results from these 69 holes (plus subsequent
holes completed in advance of the data cut-off date) will be included in
the Q2 2010 resource update.
-- Recent highlights include: 23.53 g/t gold over 12 metres, 10.20 g/t gold
over 12 metres, 196.27 g/t gold over 4 metres and 24.56 g/t gold over 7
metres.
-- The deposit remains open for expansion both to depth and to the west.


Masato Style Bulk Tonnage Gold Trend

Oromin has also completed limited additional drilling at the bulk-tonnage deposits on the Western Side of the Corridor (see attached map). These deposits are similar to or extensions of the two main deposits being mined at MDL's newly commissioned Sabodala Mine, which reports 3.5 million ounces in total resources.



-- Masato: This deposit has significant oxide mineralization and offers
excellent potential to expand existing bulk-tonnage resources (1.22 M
oz. Indicated and 71,000 oz. Inferred) as it encompasses multiple
parallel zones traced over 2 km on surface. It also may have higher
grade underground potential, as shown by recent drilling results:
notably 8.92 g/t gold over 9 metres; 14.12 g/t gold over 8 metres; 17.26
g/t gold over 12 metres; and 48.54 g/t gold over 2 metres. Additional
deep drilling will further test this advanced deposit's underground
potential.
-- Niakafiri SE: This deposit also has significant oxide mineralization
potential and represents the southern extension of MDL's Niakafiri
Deposit (540,000 oz.) to the north. The most recent resource calculation
has outlined an initial inferred resource of 119,000 ounces at the
Niakafiri SE deposit. It is coincident with an 8-km-long gold-in-soil
geochemical anomaly associated with the Masato Deposit to the north, but
has only been tested by limited drilling over a 900-metre extent and
remains open for expansion both along trend and to depth. Resource
expansion drilling is planned for the second half of 2010.
-- Maki Medina: Only limited wide-spaced shallow drilling has been
completed to date over a 1.2-km extent. The most recent resource
calculation has outlined an initial inferred resource of 70,000 ounces
at Maki Medina. This deposit has significant oxide potential based on
the limited drilling completed and remains open for expansion both
laterally and to depth. Resource expansion drilling is planned for Q1 of
2010.


Emerging Deposits and Priority Targets

The district-scale OJVG Sabodala Project offers excellent potential for significant new deposits, with 4 new discoveries and 18 targets identified to date (in addition to 7 deposits listed above). The most advanced of these, Koulouqwinde, is poised to become the newest deposit.

Koulouqwinde (formerly Cloverleaf):



-- 20 new RC holes and 1 new core hole have been drilled to follow up
previous favourable results at this high-potential target. Drilling has
now tested the Koulouqwinde vein system over a strike extent of 200
metres and to a down-dip depth of 150 metres. Koulouqwinde remains open
for expansion both laterally and to depth. Results to date suggest it
will soon be categorized as the newest gold deposit, offering both a
higher grade open-pit and an underground mining opportunity for OJVG.
The objective of recent drilling is to gather sufficient drill data for
inclusion in the Q2 2010 resource update.
-- Significant results from recent drilling include: 14.24 g/t gold over 7
metres and 13.13 g/t gold over 3 metres, 5.89 g/t gold over 5 metres,
16.60 g/t gold over 1 metre, 41.99 g/t gold over 1 metre and 96.45 g/t
gold over 1 metre.


Kobokoto South



-- Kobokoto South is part of the broad Kobokoto target area which is
comprised of multiple gold-in-soil geochemical targets within windows of
a lateritic-covered plateau measuring at least 2,500 by 3,000 metres.
-- Recent trenching at Kobokoto South has confirmed near-surface oxide
mineralization similar to that occurring at the Masato, Niakafiri SE and
Maki Medina Deposits (Masato Style Bulk Tonnage deposits). Trenching
highlights include: 1.25 g/t gold over 35 metres, 1.91 g/t gold over 9
metres; and 3.42 g/t gold over 5 metres. Additional trenching and
exploration drilling are planned for Q1 2010, with resource drilling to
follow in Q2 2010.


Koutouniokollo



-- This newest priority target is situated south of the Golouma West,
Golouma South, Kerekounda, Kourouloulou deposits and the Koulouqwinde
target within the Golouma Style Higher Grade Gold Trend. New trenching
results show potential for both bulk-tonnage and higher grade deposits
within two separate mineralized trends. Trenching has thus far tested
the 200 metre by 400 metre gold-in-soil geochemical target, which is
coincident with a topographic high within a very extensive area of
lateritic cover.
-- Trenching of the bulk-tonnage NE-oriented structure returned 1.45 g/t
gold over 36 metres. Trenching of the higher grade NW trend returned
2.84 g/t gold over 3 metres; 16.37 g/t gold over 3 metres and 42.76 g/t
gold over 3 metres. Additional trenching through the lateritic cover
along the mineralized trends is planned for Q1 2010, with initial
resource drilling to follow.


Golouma NW



-- This priority target consists of a northwest-trending, shear-hosted
quartz vein system coincident with a gold-in-soil geochemical target
measuring approximately 450 metres by 100 metres. Initial drilling
results include 6.66 g/t gold over 5 metres and 2.21 g/t gold over 10
metres. More drilling is planned for Q2 2010.


Feasibility Study

The Feasibility Study being prepared by SRK Consulting and Ausenco Limited is estimated to cost $3.2 million, exclusive of geotechnical drilling and environmental permitting costs, and is scheduled for completion by the end of June 2010.

The upgraded study will examine mining sequences, production schedules and project economics for the bulk-tonnage Masato Deposit and four higher-grade open-pit/underground deposits - Golouma South, Golouma West, Kerekounda and Kourouloulou (and possibly others) - and also include further metallurgical testwork to confirm CIL-only process recoveries in the range of 90% to 96% for these five deposits. See our January 19/2010 news release for further details.

Doug Turnbull, P. Geo., is a qualified person for the purposes of National Instrument 43-101, and has verified the data disclosed in this news release. William Bond, P. Geo., is also a qualified person for the purposes of National Instrument 43-101, and has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.

To find out more about Oromin Explorations Ltd., visit www.oromin.com.

On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.

Chet Idziszek, President

Cautionary Statement

This document contains "forward-looking statements" within the meaning of applicable Canadian securities regulations. All statements other than statements of historical fact herein, including, without limitation, statements regarding exploration plans and our other future plans and objectives, are forward-looking statements that involve various risks and uncertainties. Such forward-looking statements include, without limitation, estimates of exploration investment and the scope of exploration programs. There can be no assurance that such statements will prove to be accurate, and future events and actual results could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from our expectations are disclosed in the Company's documents filed from time to time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made, and we do not undertake any obligation to update forward-looking statements should conditions or our estimates or opinions change. Forward-looking statements are subject to risks, uncertainties and other factors, including risks associated with mineral and oil & gas exploration, price volatility in the commodities we seek, and operational and political risks.



Schedule

-----------------------------------------------------
Golouma West Gold Deposit (Selected Historic Results)
-----------------------------------------------------
From - To Interval Gold
Drill Hole (m) (m) (g/t)
-----------------------------------------------------
RC-49 152.-166 14 7.36
incl.152-157 5 13.20
-----------------------------------------------------
RC-60 112-123 11 14.35
incl.114-116 2 61.88
-----------------------------------------------------
RC-76 20-36 16 3.09
incl.33-35 2 9.69
64-87 23 4.15
incl.75-77 2 10.17
-----------------------------------------------------
RC-93 47-54 7 7.83
incl.49-50 1 39.99
-----------------------------------------------------
RC-115 187-197 10 4.51
incl.191-194 3 9.09
-----------------------------------------------------
RC-120 136-140 4 9.36
incl.136-138 2 15.68
-----------------------------------------------------
RC-125 104-117 13 3.86
-----------------------------------------------------
RC-153 94-100 6 5.58
incl.99-100 1 12.28
-----------------------------------------------------
RC-216 3-8 5 2.46
45-53 8 14.57
incl.51-53 2 40.62
195-198 3 6.71
-----------------------------------------------------
DH-50 44-53 9 7.79
incl.45-47 2 18.95
-----------------------------------------------------
DH-154 128-138 10 6.91
incl.131-133 2 19.69
-----------------------------------------------------
DH-168 238-256 18 4.80
incl.254-256 2 18.83
-----------------------------------------------------
DH-179 199-206 7 4.75
-----------------------------------------------------
DH-210 28-34 6 5.55
incl.31-32 1 17.01
-----------------------------------------------------
DH-226 163-182 19 5.66
and 178-181 3 10.59
200-209 9 5.28
incl.207-208 1 16.94
-----------------------------------------------------
DH-239 161-165 4 13.02
incl.162-163 1 25.96
-----------------------------------------------------
DH-429 262-272 10 8.59
incl.266-269 3 23.94
-----------------------------------------------------
DH-430 283-288 5 46.90
incl.284-285 1 165.60
-----------------------------------------------------
DH-434 304-313 9 13.39
-----------------------------------------------------
DH-517 275-279 4 6.27
-----------------------------------------------------
DH-526 302-305 3 9.94
-----------------------------------------------------
DH-539 311-321 10 17.54
incl.315-317 2 65.69
-----------------------------------------------------
DH-587 120-137 17 2.84
incl.128-132 4 5.41
-----------------------------------------------------
DH-590 237-242 5 4.07
-----------------------------------------------------
DH-617 325-333 8 10.04
incl.325-326 1 46.98
-----------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing
0.5 g/t and 1.0 g/t gold cut-off levels with a maximum internal dilution
of 2 metres. No cutting of gold assays has been employed for reported
intervals. The attitude of mineralized intervals varies and reported
mineralized intersections may not represent true widths.

Schedule

-----------------------------------------------------
Golouma South Gold Deposit (Selected Historic Results)
-----------------------------------------------------
From - To Interval Gold
Drill Hole (m) (m) (g/t)
-----------------------------------------------------
RC-10 94-103 9 24.58
incl.99-101 2 98.77
-----------------------------------------------------
RC-26 0-16 16 6.66
incl.10-13 3 14.61
61-67 6 2.63
-----------------------------------------------------
RC-127 157-171 14 7.06
incl.157-163 6 14.32
incl.157-158 1 30.18
-----------------------------------------------------
RC-134 9-21 12 4.84
incl.16-20 4 10.41
-----------------------------------------------------
RC-192 112-116 4 8.26
incl.113-114 1 27.74
120-138 18 8.41
incl.120-122 2 19.19
and 125-128 3 24.07
-----------------------------------------------------
RC-194 78-97 19 8.83
incl.86-88 2 41.00
-----------------------------------------------------
RC-265 106-111 5 12.62
incl.107-108 1 49.21
117-119 2 7.16
-----------------------------------------------------
RC-555 159-168 9 12.79
-----------------------------------------------------
RC-557 257-263 6 8.01
-----------------------------------------------------
DH-11 40-63 23 6.64
-----------------------------------------------------
DH-42 50-59 9 8.55
incl.50-52 2 18.12
-----------------------------------------------------
DH-61 118-134 16 4.99
141-147 6 2.41
-----------------------------------------------------
DH-138 44-51 7 7.12
73-76 3 3.13
79-82 3 2.23
-----------------------------------------------------
DH-188 7-19 12 10.95
incl.11-15 4 21.46
-----------------------------------------------------
DH-196 110-125 15 5.91
incl.112-113 1 52.19
-----------------------------------------------------
DH-247 11-21 10 5.89
incl.16-17 1 24.07
24-32 8 2.25
incl.26-28 2 6.18
-----------------------------------------------------
DH-316 199-204 5 15.01
incl.202-203 1 46.30
211-220 9 5.26
incl.216-219 3 9.60
-----------------------------------------------------
DH-519 262-273 11 8.26
-----------------------------------------------------
DH-523 275-280 5 5.55
-----------------------------------------------------
DH-528 200-204 4 12.52
-----------------------------------------------------
DH-545 38-46 8 4.29
incl.38-42 4 6.04
-----------------------------------------------------
DH-548 51-55 4 4.71
incl.54-55 1 13.99
-----------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing
0.5 g/t and 1.0 g/t gold cut-off levels with a maximum internal dilution
of 2 metres. No cutting of gold assays has been employed for reported
intervals. The attitude of mineralized intervals varies and reported
mineralized intersections may not represent true widths.

Schedule

-----------------------------------------------------
Kerekounda Gold Deposit (Selected Historic Results)
-----------------------------------------------------
From - To Interval Gold
Drill Hole (m) (m) (g/t)
-----------------------------------------------------
RC-458 112-122 10 7.15
-----------------------------------------------------
RC-460 160-164 4 9.51
-----------------------------------------------------
RC-463 66-73 7 25.34
-----------------------------------------------------
RC-484 164-176 12 4.45
incl. 168-169 1 15.98
and 175-176 1 25.96
-----------------------------------------------------
RC-515 168-175 7 11.29
incl. 168-169 1 65.72
-----------------------------------------------------
RC-525 48-60 12 6.47
incl. 49-52 3 16.97
-----------------------------------------------------
RC-535 86-98 12 15.33
-----------------------------------------------------
RC-566 192-198 6 6.13
incl. 192-193 1 28.28
-----------------------------------------------------
RC-600 47-54 7 8.53
incl. 47-51 4 13.89
-----------------------------------------------------
RC-611 241-246 5 10.70
-----------------------------------------------------
DH-360 41-50 9 52.61
incl. 41-44 3 15.68
44-45 1 407.00
45-50 5 3.89
-----------------------------------------------------
DH-362 106-112 6 13.18
incl. 110-111 1 67.42
-----------------------------------------------------
DH-367 61-65 4 48.68
-----------------------------------------------------
DH-376 46-55 9 15.51
-----------------------------------------------------
DH-378 35-42 7 12.87
-----------------------------------------------------
DH-390 139-145 6 35.41
incl. 140-141 1 52.23
and 143-144 1 157.40
-----------------------------------------------------
DH-414 150-160 10 8.52
incl.156-159 3 21.29
-----------------------------------------------------
DH-424 112-116 4 14.89
-----------------------------------------------------
DH-426 287-300 13 10.12
-----------------------------------------------------
DH-445 251-265 14 4.08
incl. 254-259 5 7.30
-----------------------------------------------------
DH-448 234-245 11 5.96
incl. 241-245 4 10.66
255-260 5 4.58
-----------------------------------------------------
DH-458 112-122 10 7.15
incl.112-116 4 16.65
-----------------------------------------------------
DH-468 311-318 7 12.45
-----------------------------------------------------
DH-488 360-369 9 7.17
-----------------------------------------------------
DH-589 308-311 3 8.35
335-336 1 9.00
-----------------------------------------------------
DH-596 325-335 10 4.87
incl.328-331 3 7.89
-----------------------------------------------------
DH-605 319-321 2 28.05
incl.320-321 1 53.10
-----------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing
0.5 g/t and 1.0 g/t gold cut-off levels with a maximum internal dilution
of 2 metres. No cutting of gold assays has been employed for reported
intervals. The attitude of mineralized intervals varies and reported
mineralized intersections may not represent true widths.

Schedule

-----------------------------------------------------
Kourouloulou Gold Deposit (Selected Historic Results)
-----------------------------------------------------
From - To Interval Gold
Drill Hole (m) (m) (g/t)
-----------------------------------------------------
RC-170 76-79 3 50.39
-----------------------------------------------------
RC-174 89-93 4 12.50
incl.91-92 1 41.19
-----------------------------------------------------
RC-176 51-56 5 19.97
-----------------------------------------------------
RC-177 38-41 3 16.33
incl.38-39 1 30.32
-----------------------------------------------------
RC-268 153-156 3 5.00
159-164 5 7.40
incl.160-161 1 29.25
167-173 6 13.08
incl.167-170 3 23.75
-----------------------------------------------------
RC-578 56-68 12 10.20
-----------------------------------------------------
RC-579 192-204 12 23.53
209-217 8 16.54
-----------------------------------------------------
RC-637 35-42 7 24.56
-----------------------------------------------------
RC-639 15-22 7 4.13
incl.15-16 1 11.44
incl.18-19 1 13.72
-----------------------------------------------------
DH-67 145-147 2 25.07
-----------------------------------------------------
DH-72 81-84 3 98.37
incl.81-82 1 289.00
-----------------------------------------------------
DH-73 162-170 8 17.61
incl.163-166 3 38.36
-----------------------------------------------------
DH-456 104-106 2 13.09
-----------------------------------------------------
DH-505 40-44 4 81.10
-----------------------------------------------------
DH-520 48-51 3 27.79
-----------------------------------------------------
DH-522 52-56 4 196.27
-----------------------------------------------------
DH-524 161-162 1 58.02
-----------------------------------------------------
DH-540 93-95 2 29.26
-----------------------------------------------------
DH-544 77-79 2 14.13
-----------------------------------------------------
DH-557 41-43 2 7.04
-----------------------------------------------------
DH-560 78-81 3 16.83
incl.79-80 1 45.28
-----------------------------------------------------
DH-568 47-49 2 29.64
incl.48-49 1 50.91
-----------------------------------------------------
DH-579 24-30 6 6.87
incl.27-30 3 11.95
105-107 2 6.61
-----------------------------------------------------
DH-581 65-67 2 6.17
-----------------------------------------------------
DH-588 83-84 1 35.39
182-183 1 15.50
-----------------------------------------------------
DH-592 147-148 1 6.17
-----------------------------------------------------
DH-594 203-204 1 6.53
-----------------------------------------------------
DH-597 38-43 5 5.35
incl.42-43 1 17.70
103-108 5 14.50
incl.103-105 2 33.66
-----------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing
0.5 g/t and 1.0 g/t gold cut-off levels with a maximum internal dilution
of 2 metres. No cutting of gold assays has been employed for reported
intervals. The attitude of mineralized intervals varies and reported
mineralized intersections may not represent true widths.

Schedule

-----------------------------------------------------
Masato Gold Deposit (Selected Historic Results)
-----------------------------------------------------
From - To Interval Gold
Drill Hole (m) (m) (g/t)
-----------------------------------------------------
RC-154 98-106 8 2.25
-----------------------------------------------------
RC-160 21-35 14 2.27
incl. 22-27 5 3.49
-----------------------------------------------------
RC-162 42-69 27 2.26
-----------------------------------------------------
RC-166 29-42 13 2.65
55-79 24 2.49
incl. 64-68 4 8.40
incl. 65-66 1 20.00
-----------------------------------------------------
RC-180 103-118 15 2.23
incl. 106-108 2 5.83
-----------------------------------------------------
RC-203 83-101 18 2.10
incl. 85-89 4 5.49
-----------------------------------------------------
RC-319 6-22 16 1.83
incl. 12-16 4 3.53
53-67 14 2.35
incl. 62-66 4 4.90
-----------------------------------------------------
RC-333 188-215 27 1.93
incl. 188-193 5 4.01
and 198-201 3 4.59
-----------------------------------------------------
DH-09 0-39 39 1.83
incl. 0-5 5 3.68
and 18-26 8 4.09
-----------------------------------------------------
DH-95 85-107 22 2.44
-----------------------------------------------------
DH-106 26-42 16 2.15
-----------------------------------------------------
DH-116 72-87 15 2.64
incl. 81-82 1 13.68
-----------------------------------------------------
DH-237 126-150 24 2.00
and 141-148 7 3.86
154-175 21 1.11
-----------------------------------------------------
DH-279 154-168 14 3.64
incl. 156-164 8 5.70
175-203 28 2.56
incl. 184-197 13 3.64
-----------------------------------------------------
DH-303 159-190 31 1.59
incl. 168-171 3 5.06
200-208 8 1.68
-----------------------------------------------------
DH-312 180-205 25 8.86
incl. 183-195 12 17.26
incl. 189-190 1 124.50
-----------------------------------------------------
DH-341 51-62 11 2.88
incl. 59-62 3 5.48
-----------------------------------------------------
DH-383 0-14 14 1.80
incl. 6-14 8 2.55
-----------------------------------------------------
DH-454 9-36 27 2.85
-----------------------------------------------------
DH-457 23-58 35 1.91
-----------------------------------------------------
DH-465 51-62 11 2.61
-----------------------------------------------------
DH-475 34-44 10 2.76
incl. 36-38 2 5.67
54-57 3 2.61
64-68 4 1.48
-----------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing
0.5 g/t and 1.0 g/t gold cut-off levels with a maximum internal dilution
of 2 metres. No cutting of gold assays has been employed for reported
intervals. The attitude of mineralized intervals varies and reported
mineralized intersections may not represent true widths.

Schedule

-----------------------------------------------------
Koulouqwinde Prospect (Selected Historic Results)
-----------------------------------------------------
From - To Interval Gold
Drill Hole (m) (m) (g/t)
-----------------------------------------------------
RC-642 130-131 1 3.50
141-143 2 6.16
147-148 1 41.98
-----------------------------------------------------
RC-643 74-75 1 13.51
-----------------------------------------------------
RC-644
-----------------------------------------------------
RC-648 16-19 3 5.18
125-126 1 7.00
-----------------------------------------------------
RC-649 74-77 3 13.13
incl.74-75 1 29.46
150-152 2 9.49
-----------------------------------------------------
RC-653 156-157 1 96.45
-----------------------------------------------------
RC-659 23-25 2 2.52
114-115 1 16.60
-----------------------------------------------------
RC-660 139-144 5 5.89
incl.140-141 1 26.42
-----------------------------------------------------
DH-337 47-48 1 9.50
168-171 3 3.45
-----------------------------------------------------
DH-343 42-47 5 2.23
-----------------------------------------------------
DH-349 50-52 2 2.61
-----------------------------------------------------
DH-489 50-52 2 8.64
108-109 1 15.81
-----------------------------------------------------
Mineralized intervals are based on 1-metre composite samples utilizing
0.5 g/t and 1.0 g/t gold cut-off levels with a maximum internal dilution
of 2 metres. No cutting of gold assays has been employed for reported
intervals. The attitude of mineralized intervals varies and reported
mineralized intersections may not represent true widths.


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