THE BANKS MINE

With historical production values of .25 oz. gold and 17 oz. silver per ton, the Banks Mine represents a significant asset for development.

It was mined in the early part of this century on a small scale but shut down as part of the War effort in WW2.

Historical mining barely scratched the surface of this deposit with the structure open for 10,000 feet along its length and confirmed to the 1000 foot level on neighboring claims.

Assays from existing tunnels have delineated a potential resource 12 feet wide by 100 feet deep by 160 feet long. This represents a section of resource block between two levels of the already developed section of the mine. The Corporation’s current estimates put this block at 15,840 tons grading .442 oz. per ton gold and 22.08 oz. per ton silver (an approximate value of $8 million).

A further resource roughly the same size is expected between the next lower levels of the developed section of the mine which has had partial development to the 210 foot level.

This vein is expected to extend to some depth as ore has been blocked out to as deep as 1000 feet on neighboring claims.

The Banks is located on a major fault structure which hosts several mines along its length.

Recent geological testing of the developed tunnel system has confirmed a major anomalous zone carrying gold and silver running the length of the existing mine; open at both ends and at depth.

Plan of Operation

Micrex has already completed a substantial amount of development work at the mine. Most of the development has been in the form of a decline driven to a second level in the mine and across the one known ore concentration on the footwall side of the structure.

This has improved access for further development as well as made it possible to bulk sample the confirmed vein at depth.

With the confirmation of the footwall vein Micrex completed a reconnaissance drilling program on the Banks. Drilling across structure from the hanging wall into the footwall confirmed mineral potential.