12
October 2012 Page 1 of 12 MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM THE PRESIDENT’S REPORT The weather is changing, I saw the first snow on Toad Mtn yesterday. There are 3 active diamond drill programs just to the South West of Nelson. Altair Gold is drilling the Kena property, Excalibur is drilling the Caribou and Hellix is drilling the Athabasca (Lucky Drilling see pic). It is good to see people working, looking for a new mine! The Chamber has been very busy organizing the Minerals South Conference and Trade Show. Even though we are very busy, we still managed to fit in two school classes at the Chamber. It is important for our industry and province to inform the public about mining and the benefits it brings to British Columbians! LV Rogers Grade 11 Thanks to AME BC for Outreach support Athabasca Drilling I am happy to say, the Conference looks good! We are very lucky to have GeoscienceBC organize and sponsor the Short Course “Exploration Geochemistry: Principles, Strategies and Tools” By Heberlein Geoconsulting and ioGlobal Thanks to Paul Wilton, Jack Denny, David Johnston, Jarrod Brown, Dave Grieve, Bob Denny, Dave & Laura McMichael, Dedra Critchlow, Sue Deane and our one employee, Jane Swan. Without these volunteers, we would not have lined up 30 excellent talks and sponsors. We now have a full schedule of talks, if you are attending the conference and wanted to talk about a B.C. project, we are starting a wait list, in case a spot comes open. Our booths are now sold out, if you want a booth, we are starting a wait list. If you want to sponsor, there is always a need for that! The following is the tentative Speaker list, The Chamber thanks the people that are speakers and the companies or government that allow them to give talks at our conference! Mayor John Dooley welcoming address ALS Minerals, Lynne Bruce Webtrieve

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE …cmebc.com/wp-content/uploads/newsletters/Motherlode_2012-10-01.pdf · MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD ... Significance

  • Upload
    vandang

  • View
    219

  • Download
    5

Embed Size (px)

Citation preview

October 2012 Page 1 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

THE PRESIDENT’S REPORT The weather is changing, I saw the first snow on Toad Mtn yesterday. There are 3 active diamond drill programs just to the South West of Nelson. Altair Gold is drilling the Kena property, Excalibur is drilling the Caribou and Hellix is drilling the Athabasca (Lucky Drilling see pic). It is good to see people working, looking for a new mine! The Chamber has been very busy organizing the Minerals South Conference and Trade Show. Even though we are very busy, we still managed to fit in two school classes at the Chamber. It is important for our industry and province to inform the public about mining and the benefits it brings to British Columbians!

LV Rogers Grade 11 Thanks to AME BC for Outreach support Athabasca Drilling I am happy to say, the Conference looks good! We are very lucky to have GeoscienceBC organize and sponsor the Short Course “Exploration Geochemistry: Principles, Strategies and Tools” By Heberlein Geoconsulting and ioGlobal Thanks to Paul Wilton, Jack Denny, David Johnston, Jarrod Brown, Dave Grieve, Bob Denny, Dave & Laura McMichael, Dedra Critchlow, Sue Deane and our one employee, Jane Swan. Without these volunteers, we would not have lined up 30 excellent talks and sponsors. We now have a full schedule of talks, if you are attending the conference and wanted to talk about a B.C. project, we are starting a wait list, in case a spot comes open. Our booths are now sold out, if you want a booth, we are starting a wait list. If you want to sponsor, there is always a need for that! The following is the tentative Speaker list, The Chamber thanks the people that are speakers and the companies or government that allow them to give talks at our conference! Mayor John Dooley – welcoming address

ALS Minerals, Lynne Bruce

Webtrieve

October 2012 Page 2 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

Altair Gold Inc., Perry Grunenberg

Kena property update

AME BC

BC Overview Gold Fields, Twila Skinner

Woodjam property

Goldcliff Resource Corp.

George Sanders: New Discoveries In Historical Mining Districts

Len Saleken: New Finds In Old Digs-The Silver Bullet

Len Saleken: A New Cu Porphyry Discovery-Copper Mountain Camp

Copper Mountain, Peter Holbek

HCA Mountain Minerals/Heemskirk, Phil Aston

Moberly Silica Mine Huakan International Mining, Paul Cowley

J & L Update Rainbow Resources, Jim Decker Taranis Resources

Thor Teck Metals

Urban ore and traditional smelter feeds TerraLogic Exploration, Jarrod Brown

Ice River Complex

Dave Grieve

Overview of mining and exploration activity in the Kootenay-Boundary Region, 2012

Characteristics of some gold bearing occurrences in the Kootenay Arc, southeast BC

Geoscience BC

Geoscience BC activities in 2012, an overview: Christa Sluggett

Burrell Creek area mapping and relationship between mineralization and Eocene extensional tectonics in Penticton East map sheet: Trygve Hoy

University of Calgary, Ewan Webster

Metamorphism and structure of the southern Kootenay Arc and Purcell anticlinorium, southeastern BC British Columbia Geological Survey

BC Geological Survey highlights and adtivities in 2012: Stephen Rowins

Significance of the Triassic time scale study near Merritt, BC: Larry Kiakow

An update on improvements to the Digital Geology of BC: Yao Cui & Fiona Katay

How to build a “time machine” – application to mineral exploration in BC: M Mihalynuk Geological Survey of Canada TGI-4 program, Eric de Kemp

3D structural – stratigraphic modeling supporting mineral discovery in the Purcell Basin, southern BC University of Calgary, Fred Cook, Prof. Emeritus

Does the Moyie-Sylvanite anticline contain the largest copper deposit in the world?

Detailed enhancement of potential field data: implications for pinpointing subsurface sources before drilling University of BC, Andrea Dixon

Mt. Begbie Pegmatites Omineca Mining and Metals, Tim Termuende

The Wingdam Gold Deposit - Using modern mining technology as the key to unlocking buried Cariboo treasure

Bob Thompson: "Drilling Confirms Trenching Results: Potential Grows for a Monashee-type Deposit East of Vernon, BC"

October 2012 Page 3 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

HELLIX VENTURES INC. (HEL:TSX.V / HLLXF:OTC) -Vancouver, BC- Frank Underhill, President, announces updates on its Athabasca project near Nelson, British Columbia, Canada.

Hellix has received results on its soil sampling program, initiated after several areas of elevated gold-in-soil geochemistry were found in 2011 (see Hellix news release dated September 16, 2011).

The 2012 infill sampling program within the eastern claim block area continues to return significant values of gold-in-soil, with several individual samples returning over 1000 ppb gold. Some samples may have been influenced by material released from the historic tram line that transferred ore from the historic Athabasca and Venus Mines to the mill site transecting part of the soil sample grid. This reasoning does not hold true however, for the significant results this program obtained at a distance of one hundred to two hundred metres (three hundred thirty to six hundred sixty feet) to the east of the old tram line. Further investigation of this area is warranted.

Hellix also announces it has assembled all personnel for its Athabasca drill program first announced March 28, 2012. Drilling will commence very shortly.

Soil Sampling Procedures Sampling was conducted using pick and shovel to obtain "B" horizon soil samples. Sample positions were surveyed in the field with stations at 25 metre intervals. Line spacing was 100 metres, with 50 metre spaced lines in detailed areas. All samples were shipped to Acme Laboratories in Vancouver, BC, where they underwent the lab's IF-03 process, where a 30 gram split from the prepared sample is analyzed for 37 elements by ICP-MS methodology. The technical portion of this release has been reviewed by Qualified Person Laurence Sookochoff, P. Eng.

HELLIX VENTURES (HEL – TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in North America. Hellix has no debt (other than short-term trade payables), and has positive cash flow from fossil fuel production in Western Canada. All transactions stated or referred to herein are expressly subject to TSX Venture Exchange approval as well as all other applicable regulatory body approvals. For more information see: www.hellixventures.com

MINERALS SOUTH 2012 CONFERENCE & TRADE SHOW

NOVEMBER 6TH TO 8TH, 2012

Prestige Lakeside Resort and Convention Centre, Nelson, BC

NOVEMBER 6 SHORT COURSE NOVEMBER 7 – 8 CONFERENCE AND TRADE SHOW For further information visit our website: www.cmebc.com or phone 250-352-5242

October 2012 Page 4 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

Taranis Finds Another New Zone at Thor Assaying up to 6.6 g/t Au, 2.24% Cu, 25% Combined Pb-Zn and >300 g/t Ag in Grab Sampling

Lakewood, Colorado, October 11, 2012 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to report further results of rock ("grab") sampling undertaken during the summer of 2012 between the high-grade SIF and Gold Pit gold occurrences. An updated map of the sample locations incorporating data from the September 18th News Release showing gold and other significant metal values has been posted on the Taranis website, and can be viewed at www.taranisresources.com Taranis is completing a detailed structural and lithologic map of the property based on over 500 outcrop measurements plotted from differential GPS surveying. This information will provide a better understanding of the areal extent of the known mineralized zones at Thor and also highlights where possible extension might occur. Further Antiform Zone Sampling The following table outlines grab samples taken from the Antiform Zone now measuring 240 m by 150 m and provides further coverage of the area already described in the Sept 18, 2012 News Release.

West Limb Target Taranis geologists while mapping also discovered float mineralization in a soil covered area uphill from any of the known mineralized zones at Thor. This occurrence is singularly important since it would be the first known mineralization identified on the west side of the Antiform hitherto hosting all of the known mineralization at Thor. This particular float occurrence is rich in gold, silver and base metals similar to the known sulfide deposits at Thor in the True Fissure and Great Northern Zones. Being located at least 250 m west of any of these areas it suggests that the parent in situ host rock are directly below or further up the slope on the mountain side.

For more information see: www.taranisresources.com

October 2012 Page 5 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

COPPER MOUNTAIN ANNOUNCES 2012 THIRD QUARTER PRODUCTION AND SALES RESULTS

Vancouver, British Columbia – October 16, 2012 – Copper Mountain Mining Corporation (TSX: CUM) (the “Company” or “Copper Mountain”) announces production results for the third quarter of 2012 from the recently opened Copper Mountain mine located in southern British Columbia. During the third quarter of 2012 the mine completed a total of three shipments of copper concentrate, to smelters in Japan, containing approximately 12.1 million pounds of copper, 3,400 ounces of gold, and 81,800 ounces of silver. Gross sale value, based on provisional pricing is estimated at $48.3 million prior to pricing adjustments. Production from the mill during the quarter was 12.5 million pounds of copper, 4,315 ounces of gold, and 77,166 ounces of silver, the higher gold content is the result of increased ore from Pit #2. As previously announced on September 17th the ramp up to full production has taken longer than expected. Mill operating time was negatively impacted during the third quarter due to SAG mill grate replacements and extensive tailings line maintenance, both of which are now complete. Following the planned mill maintenance shutdown at the start of August; whereby the recently received newly designed grates were installed in the SAG mill, and electrical modification to the ball mill motors were made, as well as repairs to the tailings line, unscheduled downtime has been decreased providing confidence that the mill can operate at the planned 92 percent availability. Subsequent to the planned maintenance shut down in early August, the Company has attained design mill throughput. From a mining point of view, the addition of the extra mining equipment announced earlier this year has assisted in increasing the mining capacity and has also allowed flexibility in mine planning. Mining in Pit 2 has been accelerated to be developed in parallel with Pit 3, as part of the new mine optimization plan. Mine production is continuing above the planned rate of 160,000 tpd. In addition, during the quarter the Company continued with its 2012 exploration program which forms the first part of a larger three year exploration strategy for the property. The objectives of the exploration program are threefold: determination of the potential long-term pit limits, conversion of resources to reserves in order to assist with near to mid-term mine planning and continued exploration of outlying or new areas of mineralization. There are currently two diamond drills on the property which are focused on mineralization at depth in the southern end of Pit 3 and around Pit 2. Results will continue to be released as drilling progresses. About Copper Mountain Mining Corporation: Copper Mountain is a Canadian resource company managed by an experienced team of professionals with a solid track record of exploration and development success. The Company’s shares trade on the Toronto Stock Exchange under the symbol “CUM”. Copper Mountain owns 75% and Mitsubishi Materials Corporation owns 25% of the Copper Mountain Mine. The 18,000 acre mine site is located 20 km south of the town of Princeton in southern British Columbia. The Copper Mountain Mine has a current resource of approximately 5 billion pounds of copper and recently commenced production. Additional information is available on the Company’s new web page at www.CuMtn.com.

October 2012 Page 6 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

New Gold Zone Discovered At High Property- "King Tut"--Drill Cuts 222M of 0.88 G/T Gold

October 15, 2012, Vancouver, BC: Teuton Resources Corp. (“Teuton”) (“TUO”-TSX-V) ("TFE"-Frankfurt) (“TEUTF”—OTC BB) is pleased to report results from the first hole drilled in 2012 on the High property, situated north of Stewart in the Eskay Creek-Sulphurets-Premier region of northwestern British Columbia (the “Golden Triangle”). The High property adjoins due south of Pretium Resources’ Brucejack property. A new zone, dubbed the “King Tut”, has been discovered by surface sampling and drilling 150m south of the boundary with Pretium’s Brucejack property, host of the Valley of the Kings zone (see Fig.1, for location).

Drill Hole Interval (metres) Width (metres) Width (feet) Gold (g/t)

H12-01 300-522 222 728 0.88

The drillsite was located on a rock island which has appeared from under the snow and ice, 600m west of the southward projection of the Brucejack fault. The newly exposed rock is bisected by a contact between hypabyssal porphyry and sediments + mafic intrusives. The drill hole had a dip of 75 degrees and was collared within the sediments, intersecting the porphyry at 300m down dip. Although two more holes were planned at shallower angles to intersect the gold-bearing porphyry at higher elevations, time constraints precluded their start. A drill section is produced in Fig.2, accompanying this news release. Four surface grab samples were taken in the porphyry immediately southwest of the drill collar. Results are as follows:

Sample # Sample Type Copper (%) Lead (%) Zinc (%) Silver (g/t) Gold (g/t)

High-1 Grab 0.07 0.36 0.10 <14.5> 1.79

High-2 Grab 0.09 0.33 0.95 <40.1> 16.80

High-3 Grab 0.12 0.08 0.16 <4.2> 0.56

High-4 Grab 0.09 0.38 0.74 <10.8> 1.58

The copper, lead and zinc values obtained in these grabs, coming from galena, sphalerite and tetrahedrite mineralization, indicate potential for higher gold grades in the upper portion of the porphyry, the topmost 300 vertical meters of which remains to be tested. Dino Cremonese, P.Eng., President of Teuton Resources Corp., commented as follows: “With this first hole into the northern High claims gossans, we were fortunate enough to hit extensive gold mineralization, proving that the prolific system of gold-bearing deposits evident in the properties of Pretium Resources and Seabridge Gold extends southward into our ground. The nearest zone to the north is Pretium’s Bridge deposit from which 21 holes drilled in 2010 averaged 237m of 0.87 g/t gold, the same grade and almost same length as our hole. Surface sampling of the King Tut suggests that we may encounter higher grade sections when we return to drill the untested upper region of this zone. As well as the King Tut, there are at least six other targets in the vicinity.”

Core sampling is now complete on Holes H12-02 and H12-03 drilled into the gold zone exposed in the southern portion of the High claims (see Fig.1), and samples have been shipped to the laboratory. Both holes exhibit lengthy (up to 100m) sections of intense iron carbonate alteration with cross-cutting fractures containing sphalerite and pyrite mineralization. Assays should be available within three weeks.The Qualified Person for the purposes of this news release is D. Cremonese, P.Eng. All samples are assayed by Loring laboratories of Calgary, an ISO9001-certified laboratory. The Qualified Person has used the assay data for the drilling and the drill logs to calculate the gold-bearing intervals The QA/QC protocol system employed during the 2012 exploration program included procedures for monitoring the chain-of-custody of samples and the insertion of blanks and reference standard samples in every batch of samples. Mr. Cremonese has not independently verified the data from Pretium Resources. http://www.teuton.com

October 2012 Page 7 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

Gold Mountain Proceeding with Open Pit Test at Elk Gold Project Vancouver, BC – October 2, 2012 – Gold Mountain Mining Corporation (the “Company” or “Gold Mountain”) is pleased to announce that the Company has recently received government permits to proceed with a bulk sample program to confirm open pit mining parameters projected in the Preliminary Economic Assessment report that was completed in early 2011. The 10,000 tonne bulk sample is projected to be completed this fall and is estimated to contain 6,000 ounces of gold. Crews and equipment have been mobilized and mining in progressing. The location of the bulk sample pit is east of the previous Bonanza open pit and underground operations. The bulk sample program will mine the eastern extension of the same vein structure previously mined in the early 1990’s and produced 51,500 ounces of gold. The operations will focus on determining the optimum open pit mining process and will also provide a more representative grade for the Elk Gold potential resource. It had been noted previously that the high-nugget effect of the gold deposit yielded an underestimate of the in-situ gold grade based on the assays generated from surface diamond drill holes. The bulk sample program will provide a confirmation of this hypothesis for the Elk Gold project. In addition, the bulk sample will provide more information on the structural and grade continuity as well as mining and milling characteristics for the Elk gold-bearing structures. Information gained from the bulk sample program will be invaluable for the planning of the production phase for the Elk Gold project. This step towards the production of the Elk Gold deposit will be most critical for future planning and optimization. The Company's Senior Geologist, Robert Wilson, P.Geo., acts as the Company's Qualified Person for technical disclosure per National Instrument 43-101, and has reviewed and approved the technical content of this press release.http://www.aumtn.com/

October 2012 Page 8 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

Rainbow Resources Inc. (TSX VENTURE: RBW) (“Rainbow” or the “Company”) is pleased to provide the following exploration update as it continues to advance its 13,000-hectare Big Strike Gold-Silver Project in the West Kootenays and its Jewel Ridge Property along the prolific Battle Mountain-Eureka Trend in Nevada. Highlights:

A 15-hole Phase 1 drill program has been completed at the International Silver Property and assays are pending;

Big Strike Project drilling shifts this week to the Gold Viking Property, contiguous to the past producing Ottawa Mines (1.8 million ounces of silver at an average grade of 61.6 opt);

Fresh historical data magnifies potential of Jewel Ridge Property in Nevada with drilling commencing shortly to follow up on previous near-surface intercept of 2.1 g/t Au over 39.6 metres. International Silver Property Rainbow has completed a 15-hole shallow drill program at its International Property near the historic silver mining community of Kaslo in southeast British Columbia, 140 km north of Nelson. Drilling consistently intersected the International vein system and core is being analyzed for silver, lead, zinc and gold mineralization. The Company is eagerly anticipating results within the next 2-3 weeks which, along with prospecting efforts in progress, will help guide the next stage of exploration at this previously undrilled 4,000-hectare property. Drilling Shifts To Gold Viking, Sampling Assay Returns 10 g/t Au A first-ever drill program begins this week at the Gold Viking Property adjacent to the Village of Slocan, 70 km north of Nelson. Permits for numerous sites have been received from the B.C. Ministry of Energy & Mines and are valid until November of next year. Phase 1 drilling will focus on the central portion of the property where a prominent low resistivity feature (see map on Company web site) is coincident with a multi-element soil geochemical anomaly. This feature, 1,400 metres long and 320 metres wide, may represent a structural break that could have acted as a conduit for mineralizing hydrothermal fluids. A north-south trending mafic dike is exposed within this same corridor. Rainbow will be drilling to depths of approximately 200 metres. Gold Viking is contiguous to Rainbow’s Ottawa Property and the Ottawa Mines, a significant silver producer in the early 1900’s (1.8 million oz. at an approximate average historical mined grade of 61.6 opt or 2,113 g/t Ag). Gold Viking, which has never been previously drilled, features numerous historical adits that traced mineralization in a north-south direction and yielded quantities of silver, gold and lead from mining of high-grade material in the early 1900’s. The Gold Viking and Ottawa properties share many of the characteristics of a felsic-intrusion-associated silver-lead-zinc vein-type deposit. While grab samples from adits in the central and southern portions of Gold Viking returned silver values ranging from 1.9 opt to 14.3 opt (66 g/t to 489 g/t) as reported by Rainbow March 15, 2012, a recent re-check of these samples has also yielded some significant gold assays including 3.0 g/t, 4.6 g/t and 10.0 g/t. A 1-metre channel sample from the upper adit on the south side of Gold Viking returned 1.5 g/t Au. Rainbow cautions that these samples, while encouraging, may not be representative of mineralization on the property. http://www.rainbowresourcesinc.com/

Silver King Mine, Nelson, BC for Sale or Option.

Reserve estimates done in 1960's and 1980's (non NI 43-101 compliant) indicate Ag, Cu, Pb & Zn content

valued at $35 million remaining U/G & in dumps @ today's prices. Past production: $187 million. New vein

discovered in 2009 drilling. Neighbors now drilling. Includes 111 acres of deeded land in 7 parcels. Asking

$499k for land and mineral plus NSR for outright sale or can be optioned. For further details, links to reports,

etc. contact [email protected].

October 2012 Page 9 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

Pacific Booker Minerals Inc. Announces Environmental Assessment Report on Effects Posted Vancouver BC, October 3, 2012: As per the British Columbia Environmental Assessment Act, the Company was required to conduct an Environmental Assessment (“EA”) to determine the potential for adverse environmental, economic, social, heritage and health effects that may occur during the life cycle of the project. The Company’s Application, prepared by Qualified Professionals, determined that there were no significant adverse environmental, economic, social, heritage and health effects. This was supported by a BC Environmental Assessment Office (EAO) commissioned independent 3rd Party review. The EAO EA also concluded that there were no significant adverse effects. The full EAO EA report and the Recommendations of the Executive Director are posted on the EAO Project Information Centre, Morrison Copper/Gold Project, EA Certificate Documentation. The full EAO EA report is available at the following link: http://a100.gov.bc.ca/appsdata/epic/html/deploy/epic_document_224_34961.html The Recommendations of the Executive Director Report is available at the following link. Please copy and paste this link in your internet browser: http://a100.gov.bc.ca/appsdata/epic/documents/p224/1349124744225_76a35b470efa85e3042b23ff875a0daa3578f33cdc79d8cc1a1d22271456485d.pdf The Company is now considering all available options to respond to the Ministerial decision.

October 2012 Page 10 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

DISCOVERY VENTURES INC. SIGNS A LETTER OF INTENT TO ACQUIRE THE WILLA GOLD DEPOSIT

Discovery Ventures Inc. has signed a letter of intent to enter into negotiations and to complete technical due diligence with the intent of acquiring up to 80-per-cent interest in the mineral claims located in the Slocan mining district of British Columbia known as the Willa deposit. The mineral property consists of 5,328 hectares and is located south of the town of Silverton, B.C.

The deposit has been extensively explored and developed to by several operators, including Noranda, Rio Algom, BP Minerals, Bethlehem Resources Corp., Northair Mines Ltd. and Hudson Bay Mining & Smelting. An extensive database is under review which covers work that includes 596 drill holes totalling 189,000 feet (57,250 metres) of core drilling and 8,500 feet (2,575 metres) of underground workings, extensive geophysics and sampling consisting of 17,150 analyses for gold, copper and silver.

The Willa deposit is primarily identified as a subvolcanic breccia-hosted type deposit (L01, B.C. Mineral Deposit Profiles). A subvolcanic intrusive is located near or above a porphyry hydrothermal system. This creates a pyrite and silica-rich mineralized stockwork breccia closely spaced to sheeted veins with local massive to disseminated replacement zones. The mineralization is usually polymetallic (copper-silver-gold (arsenic-antimony)).

This letter of intent will serve as the basis for negotiating a definitive agreement. Company president Akash Patel comments, "We believe the Willa project will offer Discovery Ventures shareholders significant value in today's exciting gold market."

The agreement may be effected in one of several different ways, most likely an option to acquire the claims by Discovery Ventures from 0951719 B.C. Ltd. The parties will jointly determine the optimum structure for the transaction in order to best satisfy regulatory and other considerations, including mutually agreed upon performance based milestones.

The agreement purchase payable by Discovery to 0951719 B.C. shall consist of an agreed upon consideration by both parties. The closing conditions will include the completion of a National Instrument 43-101-compliant technical report on the Willa property and subsequent approval by the exchange. The due diligence period shall be a maximum of 30 days.

We seek Safe Harbor. more at www.stockwatch.com DVN

October 2012 Page 11 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

Wed Oct 17, 2012 Happy Creek drills 14.0 metres of 0.65% W03 in 60 metre step-out hole at Fox tungsten property

October 17, 2012 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSX-V:HPY, the "Company") is pleased to announce

additional drill results from its 100% owned, 162 square kilometre Fox tungsten-molybdenum property. The Fox property is located approximately 75 kilometres northeast of 100 Mile House, British Columbia (B.C.), Canada. At the Ridley Creek area, four prospects called the 708, BN, RC and BK span a distance of approximately 3.0 kilometres. In 2010, trenching returned 1.0 metre of 2.38% W03 (tungsten trioxide), 0.40 metres of 11.10% W03, 7.0 metres of 0.80% W03, and 4.6 metres of 0.85% W03 at each prospect, respectively. In 2011, the first ever drilling at the RC prospect returned very positive results including 7.35 metres of 1.22% W03 and 4.7 metres of 1.02% W03. On September 18, and October 3 2012, the Company announced additional results that are summarized in the table below. New results from the RC prospect include vertical hole F12-11 with 14.0 metres of 0.65% W03 starting at 27.0 metres depth. This includes 1.6 metres grading 3.82% W03, 0.45% zinc, 3.1 g/t indium and 0.10 g/t gold. Results continue to indicate strong tungsten grades along with zinc and the rare metal indium. F12-11 is located approximately 60 metres northwest of F12-09 that returned 11.0 metres grading 0.82% W03. The near surface zone dips gently (approximately 10 to 16 degrees) west and the interval in F12-11 is thought to reflect near true-thickness. F12-11 also confirms the mineralized zone extends for approximately 125 metres beyond a trench containing 5.0 metres of 0.98% W03, and the zone remains open in extent. David Blann, President and Chief Executive Officer of Happy Creek states: "F12-11 is another excellent result that is 60 metres away from a similar result in F12-09. This project continues to advance nicely. Drilling is beginning to outline a near-surface zone containing strong tungsten grades. We have tested only a small portion of the three kilometre long trend, providing us with large scale potential." For more information see: www.happycreekminerals.com

October 2012 Page 12 of 12

MINING: GOOD NEIGHBOUR AND PROVIDER TO THE WORLD WWW.CMEBC.COM

215 HALL STREET NELSON, BC V1L 5X4

PHONE (250) 352-5242

Membership Application form

For the Year 2013

YOUR SUPPORT IS ESSENTIAL TO THE LIFE OF THE CHAMBER

PLEASE COMPLETE SO THAT WE CAN UPDATE OUR FILES.

NAME: __________________________________ COMPANY ____________________________________

STREET ADDRESS: _________________________________________________________________________

CITY/PROVINCE/POSTAL CODE: ______________________________________________________________

PHONE: AREA CODE: _________ PHONE: ____________________________ FAX: ______________________

Email: ___________________________________________________________________________________

INDIVIDUAL MEMBERSHIP $ 40.00 ___________

SMALL CORP MEMBERSHIP (2-10 EMPLOYEES) $100.00 ___________

SMALL CORP MEMBERSHIP (11-30 EMPLOYEES) $200.00 ___________

MEDIUM CORP MEMBERSHIP (31-50 EMPLOYEES) $300.00 ___________

LARGE CORP MEMBERSHIP (51+ EMPLOYEES) $500.00 ___________

Date………………………………………………………. $___________

THANKS FOR YOUR SUPPORT ----- Chamber of Mines of Eastern BC