Exploration Programs

Exploration Programs: The first phase of exploration at the joint venture property will include surface exploration guided by the results of a recent airborne geophysical survey. The goal is to discover mineralization similar to that discovered in 2007 by Noront Resources at its Double Eagle Property, which is widely considered to be one of the most significant grassroots discoveries made in Canada in recent years. Noront drilled 27 holes totaling 5,047 meters during its first full exploration season, with one of the best holes returning 117 meters grading 4.1% nickel, 2.2% copper, 2.1 grams platinum and 7.1 grams palladium per tonne, starting at 7 meters below surface. In order to direct its resources to in-the-ground exploration programs in the highly prospective Ring of Fire district of Ontario, Lund Gold has terminated its option and related payments to maintain the Carneirinho gold project in Brazil.