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The Urique Project consists of 11 concessions covering 28,880 hectares and is located in the prolific Sierra Madre gold belt of northern Mexico, which has a well known history of gold and silver discovery and production. About the Region: Numerous plus-one million ounce gold deposits have been discovered in this 300 km long region of southwestern Chihuahua: including Mulatos (Alamos Gold), Dolores (Minefinders), Ocampo (Gammon Lake), as well as the El Sauzal mine (Glamis Gold). The Urique Project is located immediately north of Glamis's property and approximately 10 km north of the El Sauzal mine and extends 40 kilometers to the north where it borders the Monterde property (Kimber Resources). The El Sauzal mine entered production in 2004 and was scheduled to produce 170,000 ounces in 2005. As of Dec. 31, 2005, the mine has proven and probable reserves of 15,821,000 tonnes grading 3.29 g/t gold (for a total of 1,673,000 ounces) and measured and indicated resources of 20,529,000 tonnes grading 2.73 g/t gold (for a total of 1,802,000 ounces) [source: www.glamis.com]. About the Property: The Urique Project covers or surrounds ten mineralized areas with past mining activity. Each of these areas is related to large mineralized hydrothermal systems that have the potential to host bulk mineable resources. The ten areas that have been identified, to date, are briefly described below: Note: The Company has relied upon historical results from several sources in the evaluation of the Urique Project. As a majority of the results quoted were taken before current QA/QC and sample security protocols were adopted, these results should be considered 'historical' in nature and can only be used as a quantitative guide as to the relative tenor of mineralization and should not be relied upon as to what potential resources exist on the property. All sampling reported by the Consejo de Recursos Minerals (or CRM - now known as the Servicio Geologic Mexicano - or the Mexican Geological Survey) exist in the public domain. Although Yale is confident in these results, a significant aspect of the initial exploration on the property will be to re-sample each area in detail. Other Targets
Urique North - Cerro Colorado Target During the first year of exploration at Urique North, the Cerro Colorado Target was advanced to the drill-ready stage. To date the structurally controlled breccia at Cerro Colorado has been traced over a strike length of 2.5 kilometres. The width of the structure varies from 2 metres to greater than 10 metres and occurs within a much wider package of alteration. At least four areas of mineralization have been identified: the El Vergel, Mina Guadalupe and Ampliacion Guadalupe zones occur along the main structure, and the Las Taunas zone is an interpreted splay off the main structure. Mapping has shown that the main structure is continuous between all of the zones. The two priority zones within the Cerro Colorado target are the El Vergel and Mina Guadalupe zones - both have small scale historic workings and are located approximately 1.5 km apart. To date, fieldwork has included the collection of 585 rock samples - mainly in trenches. For geophysical profiles of the El Vergel and Mina Guadalupe zones - click here. For pictures from the 2008 drill program - click here.
El Vergel: Exposure of the mineralized breccia in the El Vergel area has been traced running up the hillside for approximately 200 metres. Sampling from the walls of the old workings are highlighted by 2.23 g/t gold and 150.0 g/t silver over 3.0 metres and 8.00 g/t gold and 41.3 g/t silver over 1.2 metres. As with the Mina Guadalupe area, only the strongly silicified core of the structure is exposed -- the current trenching program will determine the true width of the structure in this area. Mina Guadalupe: The mineralized breccia in the Mina Guadalupe area is intermittently exposed. The strongly silicified exposure immediately above the flooded main workings averaged 11.55 g/t gold and 44.3 g/t silver over 2.6 metres. Another chip sample from above a second working, located 50 metres along strike, graded 3.56 g/t gold and 58.3 g/t silver over 2.0 metres. The exploration potential for the area is highlighted by a continuous chip channel sample taken from a road cut located approximately 30 metres vertically above the Mina Guadalupe workings that graded 0.72 g/t gold and 43.7 g/t silver over 17.0 metres.
San Pedro: At the San Pedro target area, which surrounds the historic Sangre de Cristo gold-silver mine (owned by a third party), past work has identified several small mines and prospects developed on quartz veins with assays ranging from 6.6 to 35.0 g/t gold and 61.0 to 401.0 g/t silver over 0.3 to 1.1 metre vein widths. 292 samples have been taken in surface exposures and trenches. Three principal sets of gold-silver veins have been mapped with several of the narrow vein systems having yielded high-grade precious metals assays ranging up to 137.50 g/t gold and 133.0 g/t silver over 0.25 metres. In addition, sampling of widespread alteration coincident with the intersections of north-south and northeast vein sets suggest there may be potential for bulk mineable mineralization at San Pedro as trenching has uncovered mineralization grading 0.33 g/t gold and 7.6 g/t silver over 21.65 metres.
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Urique South - Urique Area
The Urique zone is made up of an epithermal vein district measuring 2 x 2 km in size with more than 15 historic mines identified to date. Initial sampling at Urique has yielded local bonanza grade gold and silver values with highlights of 86.0 g/t gold and 8,290.0 g/t silver.
Urique, (including the recently discovered El Rosario target) are priority targets for the Q1/08 drill program.
El Rosario Target
This most recently identified zone, El Rosario, is located east of the town of Urique and comprises multiple historic mines and prospects that exploited a system of high grade veins. Formal mining of this area ended in the late 1920's and consisted of several hundred metres of underground workings on three levels. These historic workings are all within a zone of strong silicification in the andesite host rocks that measures approximately 100 metres wide and over 400 metres long. The zone is open at depth and along strike.
Sampling has yielded significant values of as much as 10.6 g/t gold and 8,290.0 g/t (or 241.5 ounces per ton) silver from 10-40 centimetre wide veins (see table below for more detailed results). Sampling within the altered andesite has yielded gold and silver values of as much as 0.2 to 0.3 g/t gold and 5.0 to 41.0 g/t silver suggesting that the El Rosario area has the potential to host a bulk tonnage open pittable resource.
As this area has poor exposure, trenching and drilling will be needed to fully understand the geology and mineralization. Significant assay results from the El Rosario area are shown below.
SAmpling Results:
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Width Au Ag Ag Cu Pb Zn
Sample (m) (g/t) (g/t) (oz/t) (%) (%) (%)
=======================================================
El Rosario area - Surface
7463 0.25 1.35 1,050.0 30.6 - 4.5 -
7466 0.85 8.13 25.0 0.7 - - -
7471 0.35 1.35 977.0 28.5 - 7.2 -
7472 0.25 0.33 194.0 5.7 - 1.0 0.8
7473 0.10 1.23 1,110.0 32.3 0.2 17.3 1.8
7474 0.30 1.01 341.0 9.9 - 2.0 -
7510 0.10 7.17 49.0 1.4 - 0.3 0.2
7515 0.40 2.86 10.2 0.3 - - -
7517 0.10 2.46 29.0 0.8 - 0.2 -
-------------------------------------------------------
Mina Murcielego - Vein
7485 0.10 1.73 8,290.0 241.5 1.6 5.0 0.6
7487 0.10 2.78 3,640.0 106.0 1.0 11.7 0.3
7490 0.12 8.88 1,030.0 30.0 0.3 8.6 1.8
Mina Murcielego - Wallrock
7486 0.80 0.24 76.3 2.2 - 0.2 0.2
7488 0.40 0.45 37.5 1.1 - 0.5 0.2
7489 0.80 0.16 265.0 7.7 - 0.3 0.2
Mina Murcielego - Surface
7491 0.50 1.09 196.0 5.7 - 0.8 -
7492 0.10 2.72 870.0 25.3 - 1.4 -
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El Salto Crosscut - Veins
6858 0.22 4.93 804.0 23.4 0.2 0.4 -
6859 0.10 3.72 425.0 12.4 0.6 0.4 0.7
El Salto Crosscut - Wallrock
6854 0.44 0.19 21.3 0.6 - - -
6856 1.05 0.16 6.4 0.2 - - -
6860 0.40 0.43 14.1 0.4 - - -
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Prospect pits and small workings - Veins
6815 0.15 0.06 898.0 241.5 0.2 2.0 -
7483 0.10 2.14 3,220.0 93.8 1.2 7.4 6.9
7497 0.10 0.62 197.0 5.7 - 1.2 -
7499 0.12 0.98 210.0 6.1 - 0.6 -
7500 0.30 1.54 261.0 7.6 - 2.6 0.5
7501 0.10 0.83 293.0 8.5 - 2.2 -
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Tezcalama Crosscut - Veins
6837 0.40 2.28 15.9 0.5 - - -
6838 0.10 0.35 1,550.0 45.2 0.5 0.4 0.2
6840 0.10 2.24 524.0 15.3 0.2 1.3 0.2
6842 0.17 2.87 1,155.0 33.6 1.1 2.7 0.2
6843 0.10 0.76 302.0 8.8 0.2 0.3 7.9
6853 0.10 10.60 453.0 13.2 0.5 7.9 2.8
Tezcalama Crosscut - Altered wallrock
6844 2.00 0.02 10.1 0.3 - - 0.2
6845 2.00 0.05 5.3 0.2 - - -
6846 2.00 0.32 5.1 0.1 - - 0.2
6847 2.00 0.30 41.2 1.2 - - -
6848 2.00 0.21 5.5 0.2 - - -
6849 2.00 0.01 2.0 0.1 - - -
6850 1.60 0.09 12.2 0.4 - - -
6851 1.50 0.24 5.0 0.1 - - -
6852 1.00 0.07 38.6 1.1 - - 0.2
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