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The Ajax molybdenum deposit, located 14 km north of Alice Arm, BC, is one of North America's largest undeveloped molybdenum deposits occupying a surface area of approximately 600 by 650 metres. The Company began actively exploring Ajax in 2005, and has since delineated in significant molybdenum resource. In 2007, a 2,639 metre drill program was successful in defining near surface molybdenum mineralization that may be accessible from surface. Incorporating the results of the 2007 drill program resulted in significantly increased Mineral Resource Estimate including a 75% increase in indicated resources over the 2007 resources estimate. At a 0.040% Mo cut-off the deposit hosts a 43-101 compliant inferred resource of 483.1 million tonnes grading 0.061% Mo (649.8 million pounds) and an indicated mineral resource of 69.0 million tonnes averaging 0.065% Mo (98.9 million pounds).
