In the spring of 2006, Stina initiated Phase II drilling with 12 reverse circulation holes on the northern half of Northern Section A. The drilling completed a 700 X 100 foot
grid, combined with 2005 RC drilling, with 110 foot stepout intervals.
In February 2008 the Company received it's first NI 43-101 Compliant Resource Estimate for its subsection of Northern Section A.
Indicated Resources
10.6 M short tons (st) ave. 0.39% V2O5 at 0.2% cutoff
8.07 M short tons (st) ave 0.44% V2O5 at 0.3% cutoff
Inferred Resources
9 M short tons (st) ave. 0.42% V2O5 at 0.2% cutoff
7.4 M short tons (st) ave. 0.48% V2O5 at 0.2% cutoff
The Company now intends to further drill this subsection as part fo a revised Phase II plan, planning to estimate Proven Resources on it's subsection, in addition to indicatd
and inferred resources for the entire Northern Section A.
