Mineral exploration rights for option.

A new uranium province Nts 24I12 Quebec.

The Cage uranium district was discovered during an exploration survey made in 2005 in Northern Québec.

In 2007 Areva paid $52,000,000 for 10% of Urancor, the registered title owner of the Cage claims.

In 2008 NWT Uranium estimated their North Rae & Lac Daniel uranium discovery had the potential value of $500,000,000.

Link to the Sigeom's discussion of the Lithotectonic geology.

Summary

Historical data confirms the North Rae and Lac Daniel claims in northern Quebec show significant potential for mineable uranium & associated ree mineralization. Here are the key facts:

Geology: The claims are located in a geological context conducive to uranium mineralization, characterized by uranium-ree bearing pegmatites betweeen the archean-aged gneissic-plutonic crust (tonalitic composition) and paleoproterozoic supracrustal cover (a sedimentary sequence known as the Lake Harbour Group).
An Unconformity: The Lake Harbour Group and, in particular, the unconformity at the base of it, appears to be a primary regional locus of uraniferous pegmatite formation. The contact of the Lake Harbour Group with the basement gneiss complex is not only an unconformity but also is an important thrust-fault plane. GM65967 p6

Mineralization Zones: Multiple mineralized zones have been identified, primarily associated with pegmatite bodies along tectonically controlled horizons. These zones exhibit variable thicknesses and lateral continuities.

Exploration Results: Exploration activities, including ground prospecting, airborne geophysical surveys, and geochemical surveys, have identified significant uranium enrichment in the area. Pegmatites have been found to contain uranium grades ranging from 0.1% to 0.8% U3O8.
Drilling Results: The 2008 anomaly targeted drilling program was limited to 2 short holes because of weather and mechanical issues. Both had intersected uranium mineralization, indicating uranium grades ranging from 70 ppm to 270 ppm U3O8 over various intervals.
Channel Sampling: 2009 Channel sampling conducted on known mineralized outcrop zones has returned promising results, with uranium grades ranging from 0.11% to 0.22% U3O8 over significant intervals.
Potential for Economic Deposits: The presence of multiple mineralized zones, reasonable grade continuity, and lateral extensions suggest the potential for economically exploitable uranium deposits, particularly considering the envisioned Rossing-type deposit.
Azimut Exploration's last report: 2010 The claims are described as drill-ready targets, with recommendations from previous reports indicating areas for further investigation.

Assessment Reports' Key Data

Azimut's 2005-09, +$8,000,000, exploration discovered the North Rae & Lac Daniel area with uranium mineralized pegmatite fields. Pale yellow uranophane-stained and/or coated surfaces are common.

Azimut envisioned the potential of:

- an open pit mineable deposit and,

- the formation of a higher grade unconformity deposit at depth.

Link to the 2009 Release

Link to the live map here.

Nearest local airport : Kangiqsualujjuaq - Georges River Airport 65 kms

Nearesr regional airport : Kuujjuaq Airport, 160 kms

Both are drill ready targets (Lac Daniel GM65041 pdf p40-46) as recommended by Azimut's last report 2009. (see below)

Below is the chart summary of the surface sampling of lac Daniel's Puqlia's pegmatite field as an example.

Puquila NW's associated critical metals average

The 2024 claim block covers the key pegmatite zones.

Les pegmatites contiennent des traces de produits jaunes (uranophane) et sont riches en biotite et en quartz.

claim 1st period is 3 years to file a work report & renewal.

Link to norhern zone indices data: - Puqila Nord D4.6 , - Puqila NW , - Puqila D4.7

- Les 2008 travaux d'exploration pour l'uranium sur la propriété du projet Daniel Lake constituent la première phase exploratoire du projet highlighting:

Specifically,

- La zone Puqila consiste en quelques filons de pegmatite blanche à biotite d'épaisseur décamétrique, pouvant être suivis sur quelques centaines de mètres, ainsi que de nombreux filons de dimensions plus restreintes. La minéralisation uranifère est associée à des essaims de filons de pegmatite à biotite.

- La taille des filons varie des petites veines aux intrusions d'une largeur de quelques dizaines de mètres d'épaisseur s'étendant sur plusieurs centaines de mètres de longueur.

- Les pegmatites de la zone Puqila se répartissent comme suit :

Schematic of Petit & Grand Puquila pegmatite fields photo above

Petit Puquila area

Link to GM65394 for all the other key zones's pegmatite sampling data & schematic maps p29-34.

- Puquila Nord D6-4 trenching data chart below ( GM65041 )

- Deux trous de forage ont été initiés en septembre 2008 mais n'ont pu être complétés.

- link to the most recent assessment report(English), AZIMUT EXPLORATION INC 2009 GM 65394 :

"The primary objective of the 2009 work program was the channel sampling of selected mineralized exposures on the main known uranium pegmatite showings. The secondary objective was the examination and prospecting of the main known showing areas as well as the exploration of several additional targets as selected from previous airborne survey data.

A total of 82 channel samples were taken on the Daniel Lake Property - 67 on the Puqila North Zones and 15 on the R7 zone. Radiometric anomalies selected from the airborne spectrometer surveys were ground-checked. This included more detailed prospecting in the R7 area.

The Puqila Zones are a series of loosely connected mineralized pegmatites and boulders occuring along a 7 kilometre NW-SE trend, located just east of the southern part of Daniel Lake.

The best uranium mineralization discovered to date on the property is the Puqila North pegmatite.

(The Puqila Centre pegmatites, located just to the south, exhibit great strike extent but are only moderately mineralized, and therefore were not channel-sampled in 2009.)

The Puqila North Main Zone is dominated by a large exposure of mineralized, coarse-grained, undeformed, quartz-feldspar-biotite pegmatite sill measuring over 20m across, as explosed along a northwest-facing hillside. A total of 56 channel samples gave an average uranium grade for the Puqila Main Zone of 296 ppm U or 0.035% U3O8.

This grade compares well with the composite drill hole average from the two short 2008 holes.

Prospecting in the southeast part of the Daniel Lake block led to the discovery of additional mineralized pegmatites within the shallow south-dipping succession of Lake Harbour Proterozoic metasediments. A distinct layer of banded grey and white quartzite within the metasedimentary sequence was found to be anomalously radioactive. This layer appears to be a conformable, continuous stratigraphic unit within the gently south-dipping sequence.

Both uraninite and pale yellow uranophane-stained and/or coated surfaces are common.

Newly discovered Uraniferous Quartzite Horizon 2009

Lac Daniel mineralized areas.

Newly discovered SE mineralization sampling data 2009 as high as 6190 ppm

2009's SE new discovery quartzite sampling data by zone:

Puqila - D4.1 Puqila - D4.1-4 Puqila - D4.1-5

Puquila NW

GM 65027 :

- Éch. 69590879 : 2900 ppm U, 991 ppm Th, 1370 ppm Pb et 681 ppm Mo;

- Éch. 69590876 : 532 ppm U, 164 ppm Th et 244 ppm Pb;

- Éch. 69590885 : 577 ppm U, 157 ppm Th, 241 ppm Pb et 140 ppm Mo;

- Éch. 69590917 : 805 ppm U, 312 ppm Th et 440 ppm Pb;

- Éch. 69590919 : 474 ppm U, 112 ppm Th et 203 ppm Pb;

GM 65041 :

- Éch. 69590871 : 3980 ppm U, 1490 ppm Th, 1860 ppm Pb, 1600 ppm Ce, 770 ppm La, 548 ppm Nd et 137 ppm Pr;

- Éch. 69590816 : 720 ppm U, 138 ppm Th et 350 ppm Pb;

- Éch. 69590870 : 540 ppm U, 263 ppm Th et 272 ppm Pb;

- Éch. 69590875 : 741 ppm U, 318 ppm Th et 466 ppm Pb.

The key conclusion :

this stratiform uraniferous quartzite layer discovered in 2009 merits additional investigation.

shear zone cutting across the claim block
providing a conduit for fluids to cross the unconformity
triggering the deposition of U-oxide minerals, mainly uraninite/pichblende (UO₂).