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Overview The CUMO Molybdenum Project is situated in the mountains of south-central Idaho. Good, all-weather highway and logging roads provide year-round access from Idaho City, located just 15 miles southwest of the property. The deposit was discovered by AMAX Exploration Inc. (AMAX) in 1963 was explored by AMAX and joint venture partners including AMOCO Minerals and Climax Molybdenum who completed multiple stages of exploration beginning in 1968 and continuing through 1982. This exploration included geological mapping, geochemical surveys, geophysical surveys, 36,022 feet of diamond drilling and a computer-generated block model geologic reserve calculation The 1982 AMAX computer generated block model indicated a geological resource of 1.387 billion tons of 0.093% MoS2 at a 0.05% MoS2 cutoff, including a higher-grade core zone of 444 million tons of 0.135% MoS2 at a 0.10% MoS2 cutoff. It should be noted that any resource/reserve estimates referred to are historical and as such in accordance with NI 43-101, section 2.4 should be used only as an indicator of the potential of the property. In the fall of 2004, Mosquito Consolidated Gold Mines Limited acquired the rights to the CUMO claim group from CUMO Molybdenum Mining Inc. The project, which boasts one of the largest molybdenum deposits in the world, was obtained at a favorable price during depressed metals markets. The property comprises a total of 344 claims covering an area of 28.7 sq km or 2,867 hectares with an exploration permit (CE) issued for drilling and excellent road access. Since 2004 , Mosquito has increased the footage drilled 80,184 feet in 45 holes, two resource calculations and a metallurgical test program. Current resource estimate consist of 1.3 Billion tons indicated and an additional 2.25 billion tons inferred of open-pit accessible multi-element mineralization, containing: in the indicated category 1.8 Billion pounds of 'moly' (molybdenum oxide), 2.1 Billion pounds of copper, 90.8 Million ounces of silver and 123.5 Million pounds of tungsten, with an additional, in the inferred category, 2.3 Billion pounds of 'moly' (molybdenum oxide), 3.3 Billion pounds of copper, 143.8 Million ounces of silver and 158.9 Million pounds of tungsten. CUMO contains one of the world's largest, strategic, stores of mineral wealth and we expect to develop the project significantly further. Metallurgical test work indicates excellent recoveries(+90% MoS2). More significantly the tailings were found to be clean and non acid generating, which will lead to major cots savings and a reduction in environmental concerns.  | |  | | |
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