The Moly Brook Property is located 2.5 km from the Hamlet of Grey River on the south coast of Newfoundland, less than 4 km from a deep water, ice free, navigable fjord. Molybdenum was first discovered at Moly Brook in 1995 by the now defunct Royal Oak Mines Inc. while exploring for gold. On the basis of just four drill holes, Royal Oak was satisfied that it had discovered a significant porphyry-style molybdenum deposit. However, due to extremely low molybdenum prices at the time and Royal Oak's deteriorating financial situation, they discontinued all exploration in Eastern Canada shortly after the discovery.