ANNUAL - 2006 2006   2005   2004   2003   2002   2001   2000                 Dear Shareholder: After years of consolidating land, conducting systematic early stage exploration work and generally just keeping our noses above water in a lousy gold market, our assets are finally starting to show more shine. In 2006, the gold price finally outran the Canadian dollar. As of today, the spot gold market is sitting north of CDN$775 per ounce, or approaching CDN$25 per gram, or about CDN$250 per ounce more than it averaged in 2005. The Moss Lake gold deposit is starting to get interesting – Rip Van Winkle is waking up. The Company has initiated efforts to re-evaluate its potential through independent studies involving open pit optimization work, operating and capital cost estimates and economic models. Diamond drilling will follow to reclassify resources, provide material for further metallurgical testing and, importantly, trace the southwest extension where the deposit remains open. Management believes that these undertakings, with a modicum of promotion and public awareness, will catalyze a significant revaluation of our assets. On behalf of the Board of Directors, George N. Mannard President April 19, 2007