Ann: High Grade Results from SPD Vanadium, page-2

HIGH GRADE RESULTS FROM SPD VANADIUM PROJECT

- Surface samples outside resource area return whole rock results with V2O5 contents > 2%.

- High grade results from magnetite “pipes” comprised of almost 100% magnetite, occurring separately from the mapped and drilled vanadiferous titanomagnetite layers (which average 0.78% V2O5).

- Further investigations to be carried out into the magnetite pipes to determine their potential to add value to the SPD Vanadium Project.

- Due diligence on SPD Project acquisition nearing completion.-