Ivanhoe Property

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The Ivanhoe Property is located in the western portion of the Swayze Greenstone belt, proximal to the Kapuskasing High metamorphic terrain. It is underlain by rocks typical of the Timmins Gold Camp, and includes variably altered and deformed mafic and ultramafic volcanic rocks, intermixed with Timiskaming-type conglomerates and porphyry intrusives. The Destor Porcupine Fault Zone, which is spatially associated with the prolific Timmins Gold camp, has been interpreted to extend across the Ivanhoe Property.

The Ivanhoe Property is ideally located in northern Ontario, near significant deposits and producers. Roughly 75 km to the west is Probe Mines Limited’s Borden Lake Gold Zone, which contains a pit-constrained Indicated Resource of 3,686,000 ounces of gold averaging 1.02 g/t Au and an additional Inferred Resource of 625,000 ounces of gold averaging 1.08 g/t Au (www.probeminerals.com). IAMGOLD’s Cote Lake Deposit is roughly 70 km to the south, which has an Indicated Resource of 7,035,000 contained ounces grading 0.9 g/t Au, and an Inferred Resource of 965,000 ounces grading 0.7 g/t Au. (www.iamgold.com)

Finally, the Ivanhoe claims surround the historic Joburke Gold Mine, based on a 1946 discovery by Joseph Burke and Maynard Bromley. Past production from Joburke is reported at 450,000 tonnes at 3.58 g/Au/t (Ontario MNDM).

Previous work on the GTA claims has outlined a number of gold occurrences, gold-in soil anomalies and gold alteration trends which will be the focus of GTA’s initial exploration. Additionally the area has been the focus of a recent airborne geophysical survey sponsored by the OGS (Ontario Geological Survey), resulting in an excellent data base. Ivanhoe is accessible by a major highway, by railway, and by forest access roads.

Pursuant to an option agreement and subject to regulatory approval, GTA can earn a 100% interest in Ivanhoe by making staged cash payments totaling $ 260,000 over five years, share issuances totaling 1,000,000 common shares over 5 years, and incurring minimum exploration expenditures of $ 250,000 over two years. The optionors will retain a 3% Net Smelter Royalty, half of which can be purchased for $1,500,000.

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