ORDUBAD

The 462 sq km Ordubad Contract Area in the Nakhchivan region contains numerous targets including Shakardara, Piyazbashi, Misdag, Agyurt, Shalala and Diakhchay, which are all located within a 5km radius.  The Company has approval from the Azeri Government to explore for precious and base metals at Ordubad until 13 April 2011.  Exploration work will focus primarily on the three copper prospects at Agyurt, Shalala and Diakhchay, which the Company believes also have the potential to contain gold and molybdenum.   The remaining properties in the Contract Area are Yashiling, Goyhundur, Keleki and Kotam.