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<br />GOIL /IDL PROfECr PAGE I-! <br />' ~ PROPERLY LOCATION AND OWNERSIiIP <br />1~ <br />The property is 8 miles northwest of Boulder Colorado at an average <br />elevation of 8,000 feet and is part of the Boulder County telluride <br />~ gold belt, a broad north Vending SO square mile area of mineralize- <br />, lion, which hosted the earliest Colorado gold camps in the late 18th <br />Century. <br /> The Cash Mine property is owned by a joint venture, Imown as "Gold <br />' Hill Ventures", comprising the Steen family, the original property <br /> owners, the Fraser family, and Cosmos Resources Inc of Vancouver <br /> and consists of 24 patented and 6 unpatented lode claims azound the <br />t old Cash Mine. In addition the Steen family owns a further 87 sur- <br /> rounding claims azound the Cash group, 21 of which are held by "Mi <br /> Vida Enterprises", wholly owned by the Steen's and 66 in joint <br />' venture with New Wallstreet Mining Company. <br /> Road access to the area is good. Boulder is 35 miles northwest of <br /> Denver on Highway 36 and the road from Boulder to the town of <br /> Gold Hill, west from Boulder on Highway 119 for 2 miles and <br /> northwest up Four Mile Canyon Drive, is an all weather road. <br />~, The climate during the winter is not severe despite the elevation. <br /> Gold Hill is at an elevation of 8,300 feet, Summerville 7,400. The <br />' collaz of the Gold Hill Mine shaft is 8,100 feet. <br /> Figures 1 shows the location of the project. <br /> <br /> A detailed underground sampling program, carried out by a consulting <br />t <br />' geologist, Russell McLellan, at the old Cash Mine delineated the <br /> following reserves:- <br />' t <br />• Tons Ore opt Au opt Ag <br />t Indicated 16,900 1.04 8.76 <br /> Dumps 75,000 0.25 2S0 <br /> Slope Fill 10,000 030 2.75 <br /> <br />R. W. Tumer C.Eng. <br />Consulting Mining Engineer <br />