Brunswick Exploration Options Nickel Property in Quebec - Seite 2

Historical records indicate no assays were done for cobalt nor platinum-palladium, and that all drilling was limited to a small area measuring 330 x 300 metres.

• 3D geological modelling indicates the main intrusive system is open to the north (down-dip), open to the east, and a 2007 airborne geophysical survey indicates the presence of EM conductors stretching to the east from the known mineralized body.
• Quebec government stream geochemical surveys indicate anomalies of up to 400 ppm Ni in sediments, located 1,100 metres north of the deposit. In addition, other ultramafic intrusive bodies on the Property have never been drilled.

The Property is considered highly prospective as the host layered intrusions include websterite, minor harzburgite and norite, as well as high-tenor mineralization (3-4% Ni in 100% sulfides). A Voisey’s Bay type metallogenic model applies well to this property, in that late-tectonic fertile mafic-ultramafic bodies intrude older sulfide-bearing gneiss/migmatite terranes and have presumably been fed by deeper mineralized magma conduits (chonoliths).

Option and Purchase Terms (All dollar figures in Canadian dollars)

Brunswick optioned 25 claims representing 1,374.5 hectares from Les Ressources Tectonic Inc. The option allows BRW to acquire a 100% interest in the Property over a three-year period for a total cash consideration of $170,000 and exploration expenditures of $500,000 under the following terms:

• Upon closing of the formal agreement, Brunswick Exploration will pay $15,000 dollars;
• Upon the first-year anniversary of the closing, Brunswick Exploration will pay $45,000 and will have completed $100,000 in exploration;
• Upon the second-year anniversary of the closing, Brunswick Exploration will pay $50,000 and will have completed and additional $150,000 in exploration;
• Upon the third-year anniversary of the closing, Brunswick Exploration will pay $60,000 and will have completed and additional $250,000 in exploration;

The schedule can be accelerated at BRW’s discretion. BRW has also granted a two percent (2%) NSR on the claims covered by the option agreement. The first half (1%) of the NSR may be repurchased upon payment of $1,500,000 from BRW to the optionor. BRW retains a first right of purchase of the second half of the NSR.