Quebec Properties

Opinaca and Wildcat Properties

Opinaca

On December 9, 2004, Everton signed an option agreement with Azimut Exploration to earn up to 65% interest in two blocks covering 284 km² by spending $4.8 million in exploration work, and cash payment of $340,000 over 5 years.  These claims are adjacent to Virginia Gold Mine Inc.'s Eleonore gold deposit in James Bay, Quebec, which was recently acquired by Goldcorp. Everton is the manager of the Opinaca project.

The summer 2006 prospecting program on Opinaca Block "A" has returned numerous values that show the high density of gold-bearing outcrops along this trend that is now being referred to as the "Inex" Zone.  Values received to-date confirm the gold potential of the "Inex" Zone which is now outlined by 12 separate gold outcrop showings.  Approximately 40 m south of the initial discovery (located on the westernmost part of the 1.7-km trend), 9 grab samples show gold values higher than 0.5g/t Au including: 12.35 g/t Au, 13.87 g/t Au and 17.21 g/t Au.  Also about 1100 m east of the initial discovery, 6 grab samples show gold values higher than 0.5 g/t Au including: 7.98 g/t Au, 8.39 g/t Au, and 9.13 g/t Au.  Furthermore, 6 additional showings with gold values ranging from 1.05 g/t Au to 2.49 g/t Au have been identified.  All samples are associated with induced polarization (I.P.) anomalies. Initial trench results near the westernmost part of the "Inex" Zone returned 7.54 g/t Au over 0.5 meters in a rock channel sample.  Most showings are hosted by paragneiss with 2 to 3% sulphides (pyrite & pyrrhotite) interbedded with biotite-rich facies.

On Opinaca Block "B", the summer 2006 prospecting program has led to the discovery of the "Claude" Target that is associated with a northeast-trending deformation zone, where selected rock samples from outcrops have returned up to 5.62 g/t Au.  Approximately 150 meters east of the "Claude" Target and down-ice of the deformation zone, four samples collected from two 1-2 meter large boulders, returned values of 35.98 g/t Au, 4.69 g/t Au, 3.54 g/t Au and 3.28 g/t Au. The source of the boulders remains to be found. The "Claude" Target consists of a sheared silicified and mineralized paragneiss outcrop containing some quartz veinlets.  The mineralization is composed of 3-5% disseminated pyrite with traces of arsenopyrite and molybdenite. The northeast-trending structure was originally recognized during the reconnaissance program of 2005, where a value of 1.71 g/t Au was obtained from a paragneiss outcrop containing quartz-feldspar-molybdenite veinlets, located 750 meters southwest of the "Claude" Target.

The Opinaca "B" Block is adjacent to the western boundary of Everton's 100%-owned Wildcat 5 property where the Manuel Showings have been discovered and recent channel cuts have returned up to 12.01 g/t Au over 4.6 meters. The Claude Target is approximately 10 km south-west of the "Manuel" Showings (see below in the text). A ground geophysical Induced Polarization (I.P.) program was recently completed on the "Claude" Target and the related boulders area. Results are currently being analyzed, and follow-up prospecting is planned to begin in October on the I.P. anomalies. Everton can earn up to a 65% interest in both Opinaca Block "A" and "B" projects from Azimut Exploration. Everton is the operator.

Please review our press releases for updates.
 

Wildcat

In January 2005, the Company acquired 100% interest in seven blocks of claims, totaling 302 km² in the immediate area of the Eleonore gold discovery.  The claims were acquired from an independent staking syndicate.

On August 15, 2006, Everton announced the discovery of the "Manuel" Showing on its 100%-owned Wildcat 5 Property.  Prospecting and sampling on the seven Wildcat blocks of property led to the discovery of the "Manuel" Showing where encouraging gold results were returned. A rock-chip sampling channel made perpendicularly to the mineralized structure returned 10.6 g/t Au over 3.0 m. Two grab samples collected on the same outcrop graded values of 18.0 g/t Au and 29.2 g/t Au.

Trenching work on the "Manuel" Showing stripped an outcrop over 9 meters along the strike of mineralization where four rock-saw sampling channels, spaced 2 to 3 meters apart, were cut perpendicularly to the mineralized structure. From the easternmost to the westernmost channel, values obtained are: 11.79 g/t Au over 4.2 meters,  8.29 g/t Au over 4.2 meters, 12.01 g/t Au over 4.6 meters and 5.37 g/t Au over 4.5 meters.  Field observation from prospecting work indicates that the mineralized zone remains open in all directions. The "Manuel" Showing is characterized by moderately to strongly silicified paragnessic rocks containing up to 3% fine to medium-grained disseminated, pyrite, pyrrhotite, arsenopyrite, with some traces of chalcopyrite. Small quartz veinlets are also present.

Additional prospecting and sampling 500 m east of the original "Manuel" Showing returned grades of 75.79 g/t Au, 24.20 g/t Au, 11.14 g/t Au, 3.30 g/t Au and 1.74 g/t Au from rock outcrop  samples. 

A ground geophysical I.P. program over the "Manuel" Showing and its lateral extensions was recently completed.  Everton is currently analyzing the results, and follow-up prospecting and mechanical trenching are planned to begin by late September on the I.P. anomalies. 

On the Everton's 100%-owned Wildcat 2 property, initial sampling from outcrops and boulders returned grades of 14.51 g/t Au, 5.35 g/t Au, 1.22 g/t Au, 0.91 g/t Au and 0.67 g/t Au.  These initial results are from a new zone named the "Inex" Zone Extension since they lie on strike and trend 1000 m east of the "Inex" Zone on Everton's Opinaca "A" Block.  Everton's Wildcat 2 property is contiguous to the south-eastern edge of the Opinaca "A" Block.  As reported on August 23, 2006 Everton and Azimut Exploration have identified numerous gold outcrops on the  Inex Zone ranging in values from 50.9 g/t Au, 17.21 g/t Au, 13.87 g/t Au, 12.35 g/t Au, 9.13 g/t Au, 8.39 g/t Au, 7.98 g/t Au, 2.49 g/t Au and 1.05 g/t Au. More sampling is still in progress on the Wildcat 2 property

Please review our press releases for updates.

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