MOTO GOLD PROJECT • Four drill rigs operating on the Moto site. Drilling programme has been continuous since commencement in February 2004. • Reconnaissance and infill drilling during the quarter continued to identify significant, shallow gold mineralisation. • Soil sampling of regional prospects continues to highlight further targets for follow up sampling and drilling. • Independent resource estimate on four additional prospects released in May 2005. • Upgraded resource estimate planned for August 2005. • Pre-feasibility work continued during the quarter, with scoping study results planned for September 2005. • Trading of Company’s shares on the Toronto Stock Exchange commenced on 27 May
Cash outflow $4.15 mill. Cash in Hand $6 mill 2005.
MOE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
