Project Summary

The Alliance Project is located in the James Bay Lowlands of northern Ontario, near the transition of the Lowlands and the Canadian Shield. The project includes more than 60 staked targets within the 6-million acre area of the Fort Hope Airborne Survey, flown on behalf of the Ontario Geological Survey.

Trigon is the operator at Alliance and can earn a 60% interest in the project from Pele Mountain Resources (TSX-V: GEM). The Alliance project is part of Trigon’s Ontario Diamond Exploration Initiative, bringing a renewed strategic focus to the high-potential, yet underexplored Superior Craton of northern Ontario.

Area Potential

The Superior craton in Ontario accounts for 23% of the earth’s Archaean rocks. The geology and the lithospheric conditions are very favourable for diamonds. DeBeers has demonstrated that kimberlites with exceptionally high quality diamonds can be found in the James Bay Lowlands of northern Ontario. They report that the diamonds from Victor, where mine construction has commenced, have an average value of more than US $450 per carat. The Victor pipe is located approximately 250km NE of Alliance.

Exploration

In 2005 Trigon carried out an airborne geophysical survey, using a proprietary magnetic system, on closely-spaced lines. This program was followed by targeted heavy mineral and Mobile Metal Ion sampling to prioritize drill targets for drilling. Microprobe analysis of visually selected indicator minerals confirmed the presence of G10d chemistry, which is indicative of a diamondiferous kimberlite source.

During the winter 2006 exploration program ground magnetic surveys were completed. A subsequent drill testing of 23 targets with Trigon's lightweight reverse circulation drill rig failed to intersect kimberlite. The sources of the indicator minerals remain to be found.

The Alliance area is currently subject to active competitive exploration by both major and junior diamond exploration companies. Trigon is now undertaking a detailed analysis of the results to date. This analysis will determine the best way to move the project forward.

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