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| |    Recent Press Releases:
Introduction: The Macusani East project contains 53 known uranium anomalies discovered in the 1970s by the Peruvian Institute of Nuclear Energy (IPEN). Diamond drilling is currently being conducted on seven anomalies to define an initial resource on the project by 1H/2008. Results from drilling so far have confirmed the presence and continuity of near-surface uranium at grades ranging from 0.016% to 1% from depths of 0.92 metres to 50 metres. To see progress made so far, please click here. Size/Location: The Macusani East project consists of 72 concessions covering 47,820 hectares. It is situated within the Province of Carabay, Department of Puno, SE Peru, and lies within the relatively flat Altiplano of the Eastern Cordillera. The area is approx. 650 km SE of Lima. Access is by paved road on the new TransOceanic highway from the City of Juliaca to the town of Macusani (approx. 200 km). The climate in the region is semi-arid. Ownership: On April 21, 2005, Solex entered into a joint venture agreement with Frontier Pacific Mining Corporation in which Frontier Pacific had the right to earn a 50% interest in the project by spending US$4-million over five years as the operator. In June of 2008, Eldorado Gold Corporation ("Eldorado") acquired Frontier Pacific and became the Company's new joint venture partner at Macusani East. History: The Macusani East area is the most studied area in southern Peru by IPEN. After IPEN discovered the first 60 uranium showings in 1978, systematic radiometric prospecting and trenching were carried out over an area of approximately 600 square kilometers, culminating in the discovery of numerous additional uranium showings. In 1984, the OECD Nuclear Energy Agency and the International Atomic Energy Agency sponsored an International Uranium Resources Evalutaion Project Mission to Peru. The mission estimated that the Speculative Resources of the country fell within the range of 6,000 to 11,000 tonnes of uranium. For the complete Summary Report, please click here. Geology/Mineralization: Uranium mineralization consists primarily of secondary yellow to greenish yellow uranium minerals (such as coffinite, autunite, tyuyamunite and carnotite) hosted in outcropping Pliocene ignimbrite flows. Typical occurrences consist of fracture coated secondary (yellow) uranium oriented in all directions. Disseminated yellow grains are also present and extend at least 10 cm to 15 cm into the wall rocks. A bottle roll leach test conducted in August 2006 on assays from one of the targets returned high recovery levels of 99.4% after 16 days using a mild acid solution. Exploration: The Company completed a 32-hole drill program at their Calvario II near-surface uranium target. This drill program formed part of a 24,000-metre program that was conducted in 2007 to test an initial seven targets on the extensive Macusani uranium project in southern Peru. The Calvario II prospect is located 4 km west of the Calvario I prospect and is part of the Calvario Group that consists of prospects Calvario I, Calvario II, Calvario III and Puncopata in the northern part of the Macusani project. Results from the 32 holes confirmed a near-surface, flat lying ignimbrite volcanic flow containing a weighted average grade of 0.01% U3O8 (103ppm U3O8) or 0.21 pounds per ton (U3O8) over an average stratigraphic thickness of 3.0 metres covering an area measuring 200 metres by 150 metres in plan view. This represents approximately 12% of the total size of the radiometric anomaly, which measures 700 m x 350 m. Higher-grade mineralization remains open to the north and west within the remaining radiometric anomaly and results show good continuity of uranium grade within the strata-bound T2 ignimbrite volcanic flow. Uranium mineralization found through drilling at Calvario II occurs as several mineralogical types, disseminated between tuffaceous fragments and within congealing fracture fillings related to cooling of the near-surface flows. In several locations, the favourable uraniferous ignimbrite flows appear stacked one on top of the other and separated in most cases by barren or low grade ignimbrites. The application for drill permits to further define the mineralization and potential resource at Calvario II has begun. A follow-up drill program will be included as part of the 2008 (20,000 metres) drill program scheduled to begin during the first quarter of 2008.
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