The Goldbrook Story

The Raglan District in northern Quebec is one of the most prospective areas in Canada for the discovery of nickel, copper, cobalt and platinum group metal (PGM) deposits. The district occurs within the same belt of ancient rocks that host the prolific Thompson nickel deposits in Manitoba. The Raglan (or Cape Smith) belt is approximately 325 kilometers long by 60 kilometers wide and already hosts Xstrata’s Raglan nickel-copper-PGM mine which began commercial production in 1998. Its development has led to extensive infrastructure improvements and the area is now more easily accessible thanks to improved port facilities, a network of roads and daily air service to nearby communities. In 2005 the mine produced over 20,000 tonnes of nickel-in-concentrate, over 5,000 tonnes copper-in-concentrate and 525 tonnes of cobalt-in-concentrate, with significant quantities of palladium and platinum. The mine accounts for approximately 10% of Canadian annual nickel production.

Recognizing the potential of the Raglan region in 2003, Goldbrook management initiated an aggressive acquisition and joint venture program. As a result, the company is now the largest landholder in the Raglan region (approximately 704,000 acres).

Raglan is an emerging Ni-Cu-PGE district at an early stage of exploration and development and consists of at least two mineralized trends. The Xstrata deposits occur as multiple ore bodies scattered along a 55 km section of a more laterally extensive geological trend known as the “ Raglan trend”. Early discoveries in 2003 by Goldbrook and Anglo American indicated that significant mineralization may also be found on this trend as far as 45 and 90 kilometers east and west of the Xstrata deposits respectively. Similarly, discoveries by Canadian Royalties Inc. have helped establish the potential of the second trend (the ‘south trend’) by the discovery of a series of deposits that are now the subject of a Bankable Feasibility study which will assess the economic viability of a stand-alone mining and milling operation.

Following the success of the Goldbrook 2004 exploration program, the company caught the attention of UK/South Africa based mining giant Anglo American plc, one of the world’s largest natural resource companies, and entered into an option and joint venture agreement with its subsidiary Anglo American Exploration (Canada) Ltd. (“AAEC”) for the further exploration and development of the Belanger and Nuvilik properties. These claims in the western half of the district comprise approximately 24% of Goldbrook’s total landholdings.  In December 2006, Anglo elected to discontinue the Option, which allows Goldbrook to regain 100% of Belanger and Nuvilik properties, which includes the Getty mineralize zone.

Goldbrook to spend $4 Million on central and eastern properties in 2006

The remaining landholdings, comprising the Wakeham and Ungava properties, cover key positions over the central and eastern parts of the District along potential extensions of the north and south mineralized trends. These properties are being explored in 2006 under a $4 million exploration program by Goldbrook and is independent of the Anglo program, being run by Goldbrook’s geologists out of their Lac Guindeau exploration camp located some 10 km south of the Raglan Mine. Goldbrook are using a multi-disciplinary approach to explore these vast landholdings including airborne and ground geophysical surveys to detect potential nickel-bearing rocks, geochemistry, geological mapping, prospecting and 3000m of diamond drilling.

In summary, Goldbrook is well-positioned for further discovery via two independent exploration programs – one on its western claims being undertaken by mining leader Anglo American, and the second on its eastern claims by Goldbrook’s own geological team.

The Way Forward