FIRST YEAR ASSESSMENT REPORT ON THE HAMMERDOWN SOUTH PROPERTY KING S POINT AREA, NEWFOUNDLAND

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2 FIRST YEAR ASSESSMENT REPORT ON THE HAMMERDOWN SOUTH PROPERTY KING S POINT AREA, NEWFOUNDLAND Licenses: M, M, M and M NTS Mapsheets: 012H/08 and 012H/09 Garry Fraser 66a Frontenac Ave. Mount Pearl, Newfoundland Prospecting and Sampling Program Work performed from July 2010 and June 2011 August, 2011 i Page

3 SUMMARY During 2010 and 2011, research, compilation, prospecting and rock sampling was performed on 81 mineral exploration claims held under licenses #017558M, M, M. These exploration licenses constitute a total of 2025 hectares of contiguous claims in the King s Point area near Green Bay, Newfoundland. Several priority targets lie within the claims including the Goldfish, Ursa Major, Ursa Minor, Pisces and Southern Cross base metal prospects. The claims are held in an agreement between the prospector owning the claims and RDF Consulting Ltd. As part of the assessment work, an extensive review and compilation of data was undertaken prior to subsequest field programs. A total of 5 days were spent on the property during by geologists and consultants exploring the area. In total, 19 rock samples were collected during the two phases of exploration. Traversing was performed across all claims and it was noted that exposure is poor in many areas, particularly in the areas of the known Prospects. As part of its 2011/2012 exploration program, follow-up work will focus additional prospecting in the area. Mineralization noted during both field visits suggest additional work is warranted. ii P age

4 TABLE OF CONTENTS SUMMARY... ii I. INTRODUCTION Location and Access... 1 Property Summary License Status... 1 Previous Exploration Work... 1 II. GEOLOGY General Geology, Lakesed Geochemistry and airborne magnetics... 3 III FIELD PROGRAM Purpose... 3 Results of 2010/2011 Work IV. CONCLUSIONS AND RECOMMENDATIONS Page LIST OF FIGURES Figure 1: Hammerdown SouthClaims Location Map... 2 Figure 2: Simplified Property Geology Map... 4 Figure 3: Ag Lake Sediment Geochemistry Map... 5 Figure 4: Au Lake Sediment Geochemistry Map... 6 Figure 5: Co Lake Sediment Geochemistry Map... 7 Figure 6: Cu Lake Sediment Geochemistry Map... 8 Figure 7: Ni Lake Sediment Geochemistry Map... 9 Figure 8: Pb Lake Sediment Geochemistry Map Figure 9: Zn Lake Sediment Geochemistry Map Figure 10: GSC Airborne Magnetics Map Figure 11: Anglo/Huson Bay Compilation Map Figure 12: Anglo/Huson Bay Airborne Survey Figure 11: Rock Sample Location Map LIST OF TABLES Table 1: Current G. Fraser Claims... 1 LIST OF APPENDICES Appendix A: Personnel, Contractors and Expenditures Appendix B: Rock Sample Database iii Page

5 I. INTRODUCTION Location and Access The Hammerdown South Property is located on 1:50,000 Mapsheets 12H/08 and 12H/09 and centered at UTM Coordinate E/ N (NAD 27/Zone 21). The claim blocks are located approximately thirteen kilometers southwest of the town of King s Point, Newfoundland which can be accessed via paved highways from the Trans Canada Highway. A good network of ATV trails and woods roads access many areas within the claims block. Infrastructure, sea ports, and a vast history of mining occur in the area. A property location map has been provided as Figure 1. Property Summary and License Status Table 1 summarizes the individual claim licenses relevant to this report. The property consists of 81 contiguous claims held under four separate exploration licenses. The claims are held 100% by the original claims holder. License No. No. of Claims Work Due Date M 30 August 26, M 16 August 26, M 9 August 26, M 26 August 26, 2011 Table 1: Current Claims held by G. Fraser Previous Exploration Work Exploration in the area during the early 1900 s led to the discovery of the Rendell-Jackman deposits in Two massive sulphide lenses were discovered on this prospect and shafts were sunk into the mineralization with limited mining occurring. The Newfoundland Government drilled five holes in the deposit in Between , Kontiki Mines Ltd. drilled 10 short holes on the main Rendell-Jackman prospect. Ground work performed on the Rendell- Jackman deposit consisted of VLF-EM by Falconbridge in 1951 and VLF-EM, magnetics and soil geochemistry by Noranda in Prospecting and mapping led to the discovery of a massive sulphide lens at the east end of Rendell-Jackman during the Noranda era. The majority of the exploration work performed within the claims held under the mineral licenses relating to this report was performed between 1986 to 1996 by Noranda Exploration Company and Major General Resources Ltd. These exploration activities led to the discovery of the Hammerdown, Orion, Muddy Shag, Reigel, Rumbullion, Lochinvar Batter s Brook, and Golden Anchor deposits and prospects. 1 P age

6 Figure 1: Hammerdown South Claims Location Map 2 P age

7 Work performed between 1990 and 1992 by Anglo Gold and Hudson s Bay Mining concentrated in the area pertaining directly to the claims related to this report. Anglo/Hudson s Bay explored the area for Buchan s style VMS deposits as the area is host to the Catcher s Pond volcanic units thought to be analogous to rock units in the Buchan s Belt. During the field efforts, gridding, ground geophysics, airborne, soils sampling, prospecting and drilling were undertaken and proved successful in discovering numerous new zones of mineralization. These zones included the Ursa Minor, Ursa Major, Goldfish, Southern Cross and Pisces VMS showings and prospects. These zones have been documented in assessment file 012H/1642 submitted by Hudson Bay Mining. No work in recent years have been documented on the claims. II. GEOLOGY General Geology, Lakesed Geochemistry and Airborne magnetics The Hammerdown South Property is underlain dominantly by various Cambrian to Ordovician aged lithologies of the Lushes Bight Group and Catcher s Pond group of rocks that are mainly characterized by mafic marine volcanics. Included in these units are sheeted dykes, micro gabbroic intrusives, porphyritic dykes, massive and pillowed basalts, felsic tuffs, pillow breccias and basaltic tuffs. The rock units are host to numerous base metal and gold deposits throughout the Springdale peninsula. Devonian to carboniferous shales, sandstones and conglomerates can be found on parts of the northern portions of the claims. Figure 2 provides a simplified geological map of the area underlying the King s Point exploration licenses. Regional lake sediment geochemical data shows good multi-element correlation of various elements. Figures 3 through 9 show simplified maps of the various elements of lake sediment geochemistry. Figures 10 and 11 show wide spaced airborne geophysical magnetics data flown by the GSC in the 1970 s. Of particular interest is the north-south trending magnetic high that transects the claims. The source of this anomaly is unknown however mineral occurrences occur on both sides of this feature. III FIELD PROGRAM PURPOSE Data compilation and field prospecting and sampling were the focus of the 2010 and 2011 work programs. An intense review of all available data was undertaken by RDF Consulting Ltd. The compilation was successful in gaining a better understanding about the mineral potential of the claims. Historic work by Anglo American and Hudson Bay Mining were the focus of the data review. 3 P age

8 Figure 2: Simplified Geological Map 4 P age

9 Figure 3: Ag Lake Sediment Geochemistry Map 5 P age

10 Figure 4: Au Lake Sediment Geochemistry Map 6 P age

11 Figure 5: Co Lake Sediment Geochemistry Map 7 P age

12 Figure 6: Cu Lake Sediment Geochemistry Map 8 P age

13 Figure 7: Ni Lake Sediment Geochemistry Map 9 P age

14 Figure 8: Pb Lake Sediment Geochemistry Map 10 P age

15 Figure 9: Zn Lake Sediment Geochemistry Map 11 P age

16 Figure 10: GSC Airborne Magnetics Map 12 P age

17 Two small field programs were initiated during the fall of 2010 and summer of 2011 in an attempt to define additional mineral targets of interest and to confirm previously identified occurrences and grades reported from historical work. The claims are host to numerous high priority mineral occurrences including the Ursa Major, Ursa Minor, Goldfish, Pieces and Southern Cross prospects and showings. An attempt was made to investigate the occurrences in the field. Mineralization was only noted on the Goldfish and Ursa Minor Zones. The other zones could not be located in the field and are most likely not exposed as they were essentially geochemical and geophysical targets. The following summarizes past results from the areas noted above: Ursa Major and Southern Cross: The Ursa Major and Southern Cross prospects have returned sections in drilling of disseminated to semi-massive sulphides assaying up to 3.7% Cu over 0.2 m. Ursa Minor: The Ursa Minor Zone consists of stringer and semi-massive sulphide mineralization returning low grade base and precious metal assays over broad widths including 0.23 g/t Au and 25 g/t Ag over 30.8 m as well as 1.1% Zn over 13.5 m. Surveys over the Ursa Minor sulphide zone detect the known mineralization as a coincident chargeability high/ resistivity low and suggest the horizon remains open in both strike directions. Goldfish: Also discovered by Phelps Dodge in 1997, this zone is located in the northeast corner of license 4330 and consists of a 0.65 m wide section of granular, pyritic, massive sulphides intersected in drill hole GF-9 assaying 1.36% Zn, 0.69% Pb, 0.06% Cu, g/t Ag and 0.95 g/t Au over 0.65 m (Thurlow, 1997). The mineralization is interpreted to occur at a transitional contact between aphyric rhyolite breccias (Indian Brook felsic package) and an overlying sequence of felsic tuffaceous rocks and sediments (Batters Brook felsic volcanic package). Subsequent shallow drilling by Phelps Dodge failed to intersect additional comparable mineralization down dip or along strike, however, drilling of the horizon was hampered by a sequence of mafic dyke/sill units which dilate stratigraphy in the area. Pieces: Discovered by Phelps Dodge in 1997, this zone is hosted by felsic volcanics of the Indian Brook package and consists of a narrow band (vein?) of high-grade massive sulphide intersected in drilling assaying 12.9% Zn, 8.5% Pb, 1.02% Cu, 54 g/t Ag and 0.11 g/t Au over 0.13 m (hole GF-3, Thurlow, 1997). Subsequent drilling by Phelps Dodge intersected similar sulphides down dip, however, the zone remains untested along strike and at depth below 100 m (Thurlow, 1998). 13 P age

18 RESULTS OF 2010/2011 WORK Significant time was spent on data compilation for the claims related to this report. Several assessment reports submitted by Major General, Anglo Gold and Hudson Bay Mining were the focus of the compilation work. Digital AutoCad maps were redigitized and used as interpretations for the follow-up work performed on the property. The most significant data obtained from the reports were compilation maps generated showing prospect locations, drill hole locations and soil geochemical data. Figure 11 below represents a portion of the compilation work directly related to the claims pertaining to this report. Figure 12 has been provided and shows the Anglo/Hudson Bay airborne magnetic survey. The historic data obtained was very useful in pinpointing localities for follow-up ground work. Prospecting Two trips were made to the property during 2010/2011. The first field visit was made by the claims holder and a geologist from RDF Consulting Ltd. during September Two days were spent on the property performing reconnaissance work mainly around the road network. It was noted that mineralization in the area of the Goldfish and Pisces Prospects were extensive and additional work is required in this area. During the visit a total of 6 samples were collected for analysis. A second visit was made to the property by a geologist and prospector from RDF Consulting Ltd. A total of 3 days were spent traversing and prospecting the area around the known showings. During the visit a total of 11 samples were collected from the main mineralized areas. Samples from this work program were only assayed for gold and silver as no visibly economic concentrations of base metals were noted. Several of the prospects were walked but no evidence of mineralization was uncovered. Much of the area is covered and outcrop is limited. The results of the sampling from both the 2010 and 2011 sampling programs are listed below in Table 2. A detailed database and assay sheets are provided in Appendix B. Sample UTM_E UTM_N Au As Zn Cu Ag Pb Number ppb ppm ppm ppm ppm ppm 2010 D D UR UR UR GF GF GF HSDF HSDF HSDF HSDF11-04?? P age

19 HSGH HSGH HSGH HSGH HSGH HSGH HSGH Table 2: Summary Rock Sample Database IV. CONCLUSIONS AND RECOMMENDATIONS Although assay results from the Hammerdown South Property were somewhat disappointing, only a small portion of the property was looked at. The Hammerdown South Property is extensive and requires a much larger program to fully evaluate its potential. The claims are host to numerous mineralized zones that need to be properly evaluated. Mineralization in the area is extensive and the potential for economic base metal and gold mineralization is possible. Further work is required. A program has been outline for 2011/2012 as follows: - Continued detailed and selective prospecting over prioirity areas and sampling of all claims blocks - Detailed mapping by a qualified geologist - Landsat interpretation Respectfully Submitted Garry B. Fraser (Genuine Prospector) 15 P age

20 Goldfish Pisces Ursa Minor Ursa Minor Southern Cross Figure 11: Anglo/Hudson Bay Compilation Map 16 P a g e

21 Figure 12: Anglo/Hudson Bay Airborne Survey 17 P age

22 Figure 12: 2010/2011 Rock Sample Location Map 18 P age

23 APPENDIX A Expenditures, Personnel and Contractors

24 TOTAL EXPENDITURES AND DISTRIBUTION BY LICENSE NUMBER SUMMARY OF HAMMERDOWN SOUTH PROJECT EXPENDITURES (2010/2011) RDF Consulting Ltd. - Compilation of data M, M, 6, M and M - Prospecting, equipment and maps 6, Assessment Report 1, Accommodations (King s Point 5 days x $110/night) Assay Costs (19 samples) Sub-total $ 14, Overhead Charges (Project supervision, travel, office, etc: 15%) $ 2, Total..$ 16, Licence No. # of Claims $ Total Expenditures M 30 6, M 16 3, M 9 1, M 26 5,200.00

25 PERSONNEL, CONTRACTORS AND EXPENDITURES PERSONNEL Garry Fraser - Prospector Mount Pearl, Newfoundland CONTRACTORS RDF Consulting Ltd. Prospecting and Geological Services 26 Blue River Place St. John s, Newfoundland A1E 6C3 Tel: (709)

26 APPENDIX B ROCK SAMPLE DATABASE

27 Sample UTM_E UTM_N Au Ce Sr Ba Fe P Hg Mg As V Na Mo Al Be Ca Zn Cu Sb Ag Pb Bi Ti Cd Co Ni W La K Mn Sn Cr Number ppb ppm ppm ppm % % ppm % ppm ppm % ppm % ppm % ppm ppm ppm ppm ppm ppm % ppm ppm ppm ppm ppm % ppm ppm ppm 2010 D D UR UR > UR GF GF GF HSDF HSDF HSDF HSDF11-04?? HSGH HSGH HSGH HSGH HSGH HSGH HSGH

28 APPENDIX C Analytical Assay Sheets

29 Au Fire Assay/Geochem Analysis Certificate Client: RDF consulting Ltd. Geologist: Dear Fraser Eastern Analytical Limited Project: P.O. Box 187 Sample: Rock 403 Little Bay Road Springdale, NL DskFile: A0J 1T0 Signed by: Graham Smith DateIn: June 20, 2011 Phone: DateOut: June 24, 2011 Fax: SAMPLE Au Ag NUMBER ppb ppm Blank 5 0 Std - Au Std - RTS Std - MP HSGH HSGH HSGH HSGH HSGH HSGH HSGH HSDF HSDF HSDF HSDF-3 Dup HSDF

30 Au Fire Assay/ICP Geochemistry Certificate Client: RDF Consulting Ltd. Geologist: D. Fraser Eastern Analytical Limited Project: P.O. Box 187 Sample: Rock Little Bay Road Signed by: Springdale, NL DskFile: E A0J 1T0 (Concentrations in assay range may cause interferences in DateIn: September 03, 2010 Phone: associated elements.) DateOut: September 13, 2010 Fax: Sample Au Ce Sr Ba Fe P Hg Mg As V Na Mo Al Be Ca Zn Cu Sb Ag Pb Bi Ti Cd Co Ni W La K Mn Sn Cr Number ppb ppm ppm ppm % % ppm % ppm ppm % ppm % ppm % ppm ppm ppm ppm ppm ppm % ppm ppm ppm ppm ppm % ppm ppm ppm Blank LKSD-2-STD D D UR UR > UR GF GF GF