10.6 M st of NI 43-101 compliant Indicated Resources at an average grade of 0.39% vanadim pentoxide (V2O5)on Northern Section A alone (700 feet X 100 feet subsection)
Additional 9M st of NI 43-101 compliant Inferred Resources on Northern Section A
Potential for High tonnage of Resources
Potentially Leachable
Potentially Open-pittable
Soft host rock easy to grind
Potenatially low direct costs
Open to the north, known to extend to the south, and at least 600 feet in depth with a 2,000 foot strike length on Northern Section A
Over the last five years, the price for Vanadium pentoxide moved from a 5 year low of $1.34 per pound in 2002 to the current range of $12.50 per pound
Property is a 764 acre (37 claims) vanadium project located approximately 32 miles southeast of Eureka, Nevada.
In the 1970's, Hecla Mining Company, based on drilling and exploration results, estimated a "reserve" of 6.1 million short tons at 0.39% vanadium pentoxide (V2O5) to a depth of 144 feet
below surface (not NI 43-101 compliant).
Stina has spent over $708,000 on new drilling and exploration of the Property in the past 16months.
Based on Stina's recent 2005/2006 drilling results, the historical 6.1 million tons of mineralization has been expanded to a 16 to 24 million ton mineralization target extending to 600
feet below surface with grades ranging from 0.5% V2O5 for the lower tonnage to 0.2% V2O5 for the higher tonnage.
Stina believes that the Bisoni McKay Property can be quickly proven and put into production in a reasonable time frame and cost compared to other mining operations. Stina is in the process
of reviewing recovery methods including possible leaching and open pit mining.
Stina believes that the Bisoni McKay Property has several inherent economic and logistical advantages over other vanadium supplies in the world.
Vanadium is an essential alloying element used in high strength, low alloy steels, titanium-aluminum alloys for the aerospace industry and other chemical processes. 85% of vanadium consumption
is used for the steel alloys used for tools, buildings, bridges, automobiles, pipelines and machinery operating at high temperatures. Vanadium is usually found naturally as vanadium pentoxide
and can be sold either as vanadium pentoxide (V2O5), or ferrovanadium for industrial use such as steel-making.
Global demand for steel has increased significantly over the past several years due to strong economies and Asian demand, and is expected to reach 1.05 billion tonnes in 2006, up from 972 million
tonnes in 2004. Demand for the raw materials for steel-making, including vanadium, will continue to be strong.
Stina is in regular contact and developing its relationships with vanadium purchasers
