Abitibi Greenstone Belt “Grassroots Exploration Project”, North-West Québec and North-East Ontario

Project Overview

Golden Valley Mines’ original and continued core exploration focus is the Abitibi Greenstone Belt “Grassroots Exploration Project”. The project consists of a series of distinct properties located in the economically significant and historically prolific Abitibi Greenstone Belt, which stretches from Timmins, Kirkland Lake and Matachewan (Ontario) in the west, through Rouyn-Noranda, Cadillac, Malartic, Val-d’Or and Chibougamau (Québec) to the east over a distance of some 500 kilometres.

The majority of the Company’s properties are 100%-owned and have had little or no previous exploration work but are located in geological domains considered prospective by management for the occurrence of precious (gold) or base metals (copper-zinc-silver and nickel-copper-platinum group element) deposits.

Primary exploration targets in the Abitibi Greenstone Belt include the eastern  extension of the Destor-Porcupine Fault Zone north of Rouyn-Noranda and Val-d’Or from the Ontario border; the western portion of the Blake River Group volcanics in Ontario; and several previously untested airborne electromagnetic (AEM) anomalies and structural features elsewhere in the Abitibi region.

Project Potential

Few geological environments in the world possess the mineral potential of the Abitibi Greenstone Belt, in terms of historic and current mineral production, and that continue to offer significant, low-cost exploration potential.

The Abitibi Greenstone Belt accounts for impressive historic production statistics for several commodities estimated at:

• 8.2 million tonnes (18 billion pounds) of copper
• 15.9 million tonnes (35 billion pounds) of zinc
• 161 million ounces of gold and
• 900 million ounces of silver

Historically there have been over 100 mines discovered within the Abitibi Greenstone Belt, and mining development investment continues to be near record highs with the total amount exceeding $1 billion in 2007.

While the majority of historic discoveries have been made at or near outcrops, over 90% of the Abitibi Greenstone Belt is covered by swamps providing for an abundance of low cost exploration opportunities for new discoveries. Modern geophysical methods may provide for discovery success, and other enabling factors relate to the well-developed infrastructure, a supportive political environment, and an educated workforce that provide for low-cost exploration.