PARDO PROJECT 2010 WORK REPORT I: GRID GEOLOGICAL …

PARDO PROJECT 2010 WORK REPORT I: GRID GEOLOGICAL MAPPING AND DEFINITION OF DRILLING TARGETS, AND DIAMOND DRILLING; PARDO, CLEMENT, MACBETH, VOGT, MCNISH AND JANES TOWNSHIPS, ONTARIO By: Xueming (Eric) Yang Ginguro Exploration Inc. 101-957 Cambrian Heights Drive Sudbury ON P3C 5S5 Mount Logan Resources Ltd. 101-957 Cambrian Heights Drive Sudbury ON P3C 5S5 July 23, 2010 Revised on November 2, 2010

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Table of Contents

1. Introduction 4 2. Location, Access and Physiography 4 3. Property Claim Summary 6 4. General Geologic Setting 12 5. Property Geology 13 6. Previous Work 14 7. Grid Geological Mapping and Drillhole Planning 18 8. Diamond Drilling 28 9. Conclusions 30 10. References 31 11. Cost Statement 34 12. Certificate of Author 35

List of Tables Table 1 Pardo project claims and status 6 Table 2 Claims 100% owned 9 Table 3 Lateral depositional facies description and interpretation

of the B placer (Knowles, 1968) 30 Table 4 Costs of the mapping and drilling program 34

List of Figures Figure 1 Location of the Pardo Project, Sudbury Mining District, Ontario 5 Figure 2 The boundaries of Mount Logan Resources Ltd claims (in red) and

Endurance Gold Corporation option claims (in blue) 12 Figure 3 Graph of existing cutlines and 2010 new 64.1 km cutlines (in blue) 17 Figure 4 Standardized stratigraphy for the Pardo property with hypothetical

Au grade shown by the curve 20 Figure 5 East-west cross sections over the area mapped 22 Figure 6 Blocks defined by current geological mapping and previous drilling data 24

List of Appendices

1. Drillhole PD-10-01 log

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2. Drill Section PD-10-01 3. Samples taken from drillhole PD-10-01 4. Down hole surveys of drillhole PD-10-01 5. Certificate of analysis from ALS Chemex

Back Map Pouches Map 1 1:2,500 Geological Map of the Pardo Project (southwest part) Map 2 1:8,500 Geological Map of the Pardo Project (entire mapping area) A DVD of the high definition (2m) topographic survey data

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1. Introduction During May 10 to July 23, 2010, Mount Logan Resources Ltd., a whole-owned subsidiary of Ginguro Exploration Inc. (TSX-V: GEG), initiated a grid mapping program supported by an extensive reconnaissance geological mapping and prospecting to better understand strategraphy, sedimentology and structures of the Huronian Supergroup that exposes within the Pardo property with an object of definition of drilling targets – basal pyritic quartz pebble conglomerates of Mississagi Formation. The mapping program was supported by extensive GIS data compilations and high-definition topographic data (2-metre contours and digital elevation modeling). The mapping program covered all existing cut lines, and a new 64.1 km of cutlines to provide a 1:2,500 scale geological map, which firstly differentiated mappable units of the strategraphic sequence of the Mississagi Formation. On the basis of this information, a geological model of fault-bounded blocks was established, which manifests the distribution and depth of the target unit rocks host to paleoplacer gold mineralization. A drilling program consisting of eighty-two diamond drill holes has been planned, and the first hole was started on June 30, and completed on July 6, 2010. This assessment report summarizes a part of the geological mapping work focusing on the 100% owned claims of Mount Logan Resources Ltd., and the result of the first diamond drill hole. The diamond drilling was completed by Foraco Canada Ltd., of North Bay, Ontario, employing an LF-70 hydraulic drill rig. Field work, on site drilling supervision and core logging were carried out by two geologists, Luke Longridge, and Xueming (Eric) Yang P.Geo., assisted by Winston Whymark and Wesley Whymark; all were contracted by Ginguro Exploration Inc. The mapping project and drilling planning were technically supported by Mike Shaw, consultant geologist. All work was supervised by Wayne Whymark and Richard Murphy P.Geo., Management of the company. Drill core was split with a diamond saw by Winston Whymark and Wesley Whymark under supervision of either Longridge or Yang. We are grateful to Dr. Darrel Long from Laurentian University for providing his unpublished reports and work, guiding a field trip and presentation on the stratigraphy and structures of Huronian Supergroup. 2. Location, Access and Physiography The Pardo Property is located approximately 65 kilometres northeast of Sudbury, Ontario (Figure 1), in the Sudbury Mining Division, east-central Ontario. The approximate geographic centre of the property is located at Latitude 46 Degrees, 47 Minutes north, and Longitude 80 Degrees, 15 Minutes west; or, alternatively, at NAD83_UTM_Zone 17N, coordinates 5180000 North and 555500 East. The property is primarily located in the north half of Pardo Township, but extends north-northeast into

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Clement, MacBeth and Vogt townships, and west-southwest into McNish and Janes township as well. Access to the property is excellent. From Sudbury, the Trans Canada Highway 17 runs east to the town of Warren, from which paved Highway 539 runs north to the small community of River Valley. From there, paved Highway 539A and all-weather gravel Highway 805 run north approximately 30 kilometres, crossing the western portion of the claim block. A network of logging roads run east from Highway 805, providing additional access to most of the property. The property lies at an elevation of between 280 and 350 metres above sea level, and while locally can be rugged, is generally one of modest relief. Approximately 15% of the claim block is outcrop, with the remainder a mixture of thin soil development through to thick fluvial sand plains and in places boulder till sheets of significant thickness. Vegetation is comprised of, in places, stands of virgin red and white pine, to second growth mixed forests of pine, spruce, and poplar. Infrastructure surrounding the project area is excellent. Water is plentiful, with numerous lakes on the property, and the Sturgeon River runs south very close to the western limit of the claim block. Grid power is available in River Valley. All amenities for any exploration or mine development programs are available in the world class mining centre of Sudbury, and the towns of Sturgeon Falls and North Bay, all within a ninety minute drive to the property, provide additional support services.

Figure 1 Location of the Pardo Project, Sudbury Mining District, Ontario

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3. Property Claim Summary The Pardo property claims, which are listed in Table 1, are comprised of two subsets of claims: the first subset of claims is 100% owned by Mount Logan Resources Ltd. These 100% owned claims, which are detailed in Table 2, are claims on which the assessment work described in this report was performed. Mount Logan also holds an interest in a second subset of claims that comprise the Pardo property, in the form of an option with Endurance Gold Corporation. Table 1 Pardo project claims and status

Township/Area Claim Number

Recording Date

Claim Due Date

Percent Option

Work Required

Total Applied

Total Reserve

Claim Bank

CLEMENT 4201291 2006-Sep-28

2013-Sep-28

0% $4,800 $24,000 $0 $0

CLEMENT 4201292 2006-Sep-28

2013-Sep-28

0% $4,800 $24,000 $2,917 $0

CLEMENT 4202511 2006-Sep-12

2013-Sep-12

0% $4,400 $22,000 $0 $0

CLEMENT 4202512 2006-Sep-07

2015-Sep-07

0% $4,800 $33,600 $343,064 $0

CLEMENT 4202513 2006-Sep-12

2013-Sep-12

0% $4,800 $24,000 $24,652 $0

CLEMENT 4211782 2006-Sep-28

2013-Sep-28

0% $4,800 $24,000 $0 $0

CLEMENT 4250761 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250762 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250763 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

CLEMENT 4250764 2009-Aug-12

2011-Aug-12

100% $4,000 $0 $0 $0

CLEMENT 4250765 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250766 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

CLEMENT 4250767 2009-Aug-12

2011-Aug-

100% $800 $0 $0 $0

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12 CLEMENT 4250768 2009-

Aug-12 2011-Aug-12

100% $800 $0 $0 $0

CLEMENT 4250781 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250782 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250783 2009-Aug-12

2011-Aug-12

100% $4,000 $0 $0 $0

CLEMENT 4250784 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250786 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250787 2009-Aug-12

2011-Aug-12

100% $1,200 $0 $0 $0

CLEMENT 4250788 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

JANES 4217740 2007-Sep-10

2010-Sep-10

100% $3,600 $3,600 $0 $0

MACBETH 1234842 2008-Apr-23

2013-Apr-23

0% $6,400 $19,200 $0 $0

MCNISH 1234841 2008-Apr-23

2013-Apr-23

0% $4,800 $14,400 $0 $0

MCNISH 4217741 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $0 $0

MCNISH 4217742 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217743 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217744 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217745 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217746 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217749 2007-Sep-10

2010-Sep-

100% $4,800 $4,800 $3,853 $0

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10 MCNISH 4217750 2007-

Sep-10 2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217751 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

PARDO 3009440 2004-Oct-29

2014-Oct-29

0% $4,800 $38,400 $2,610 $0

PARDO 3009441 2004-Oct-29

2014-Oct-29

0% $4,800 $38,400 $0 $0

PARDO 3011982 2005-Jul-04

2013-Jul-04

0% $4,800 $28,800 $0 $0

PARDO 3011983 2005-Jul-04

2013-Jul-04

0% $6,400 $38,400 $15,574 $0

PARDO 3011984 2005-Jul-04

2013-Jul-04

0% $6,400 $38,400 $0 $0

PARDO 3011999 2005-Jul-04

2012-Jul-04

0% $6,400 $32,000 $0 $0

PARDO 4202510 2006-Sep-12

2013-Sep-12

0% $4,800 $24,000 $48,567 $0

PARDO 4202514 2006-Sep-12

2013-Sep-12

0% $4,800 $24,000 $14,673 $0

PARDO 4217729 2007-Sep-04

2010-Sep-04

100% $3,200 $3,200 $3,853 $0

PARDO 4217730 2007-Sep-04

2010-Sep-04

100% $3,200 $3,200 $0 $0

PARDO 4217731 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $0 $0

PARDO 4217732 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217733 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217734 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217735 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217736 2007-Sep-04

2010-Sep-

100% $6,400 $6,400 $0 $0

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04 PARDO 4217737 2007-

Sep-04 2010-Sep-04

100% $6,400 $6,400 $0 $0

PARDO 4217738 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217739 2007-Sep-04

2010-Sep-04

100% $1,600 $1,600 $3,853 $0

PARDO 4217747 2007-Sep-10

2010-Sep-10

100% $1,600 $1,600 $3,853 $0

PARDO 4217748 2007-Sep-10

2010-Sep-10

100% $4,800 $4,800 $3,853 $0

PARDO 4250790 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

PARDO 4251770 2010-Feb-08

2012-Feb-08

100% $3,200 $0 $0 $0

VOGT 4250785 2009-Aug-12

2011-Aug-12

100% $4,800 $0 $0 $0

VOGT 4250789 2009-Aug-12

2011-Aug-12

100% $3,200 $0 $0 $0

Table 2 Claims 100% owned

Township/Area Claim Number

Recording Date

Claim Due Date

Percent Option

Work Required

Total Applied

Total Reserve

Claim Bank

CLEMENT 4250761 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250762 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250763 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

CLEMENT 4250764 2009-Aug-12

2011-Aug-12

100% $4,000 $0 $0 $0

CLEMENT 4250765 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250766 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

10

CLEMENT 4250767 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

CLEMENT 4250768 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

CLEMENT 4250781 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250782 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250783 2009-Aug-12

2011-Aug-12

100% $4,000 $0 $0 $0

CLEMENT 4250784 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250786 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

CLEMENT 4250787 2009-Aug-12

2011-Aug-12

100% $1,200 $0 $0 $0

CLEMENT 4250788 2009-Aug-12

2011-Aug-12

100% $800 $0 $0 $0

JANES 4217740 2007-Sep-10

2010-Sep-10

100% $3,600 $3,600 $0 $0

MCNISH 4217741 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $0 $0

MCNISH 4217742 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217743 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217744 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217745 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217746 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

MCNISH 4217749 2007-Sep-10

2010-Sep-10

100% $4,800 $4,800 $3,853 $0

MCNISH 4217750 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

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MCNISH 4217751 2007-Sep-10

2010-Sep-10

100% $6,400 $6,400 $3,853 $0

PARDO 4217729 2007-Sep-04

2010-Sep-04

100% $3,200 $3,200 $3,853 $0

PARDO 4217730 2007-Sep-04

2010-Sep-04

100% $3,200 $3,200 $0 $0

PARDO 4217731 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $0 $0

PARDO 4217732 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217733 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217734 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217735 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217736 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $0 $0

PARDO 4217737 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $0 $0

PARDO 4217738 2007-Sep-04

2010-Sep-04

100% $6,400 $6,400 $3,853 $0

PARDO 4217739 2007-Sep-04

2010-Sep-04

100% $1,600 $1,600 $3,853 $0

PARDO 4217747 2007-Sep-10

2010-Sep-10

100% $1,600 $1,600 $3,853 $0

PARDO 4217748 2007-Sep-10

2010-Sep-10

100% $4,800 $4,800 $3,853 $0

PARDO 4250790 2009-Aug-12

2011-Aug-12

100% $6,400 $0 $0 $0

PARDO 4251770 2010-Feb-08

2012-Feb-08

100% $3,200 $0 $0 $0

VOGT 4250785 2009-Aug-12

2011-Aug-12

100% $4,800 $0 $0 $0

VOGT 4250789 2009-Aug-12

2011-Aug-12

100% $3,200 $0 $0 $0

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Figure 2 The boundaries of Mount Logan Resources Ltd claims (in red) and Endurance Gold Corporation option claims (in blue). 4. General Geologic Setting Dressler (1979) described the regional geology, indicating that the region is underlain by Precambrian rocks which are locally covered by Pleistocene and recent unconsolidated sediments. Early Precambrian metavolcanics, metasediments, granitic rocks, and mafic intrusive rocks are the oldest in the area. The metavolcanics and metasediments were intruded by granitic rocks that were approximately 2,500 Ma in age (Fairburn et al., 1960; Van Schmus, 1965). Early Precambrian mafic dykes also intruded the metasediments and metavolcanics and are younger than the granitic intrusions. Middle Precambrian rocks of the Huronian Supergroup unconformably overlie the older rocks. They were deposited between 2150 to 2400 m.y. ago (Van Schmus, 1976), an age bracket which corresponds to the Aphebian of Stockwell (1964). Rocks of the

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Mississagi Formation, the Gowganda Formation, and the Lorrain Formation occur in the area. The Mississagi Formation consists of conglomerate, sandstone, greywacke, and argillite. The Gowganda Formation is comprised of greywacke, conglomerate, arkosic wacke, and subarkose. The Lorrain Formation is primarily comprised of quartzite, sandstone, and minor silty wacke. Nipissing intrusive rocks (approximately 2150 Ma), mostly gabbros, intrude all other older formations below the Lorrain Formation. A late Precambrian olivine diabase dyke outcrops in northwestern Janes Township, immediately south of Pardo Township. All of the above lithologies occur north of the Grenville Front Boundary Fault, in the Southern Structural Province of the Canadian Shield. South of the Grenville Front Boundary Fault, in the Grenville Structural Province, rocks consist of biotite-plagioclase gneiss, biotite-hornblende-plagioclase gneiss, feldspathic gneiss, amphibolite, gabbro, anorthosite, migmatite, olivine diabase, and ultramafic rocks (Easton, 2007). 5. Property Geology The Pardo property is predominantly underlain by rocks of the Huronian Supergroup, and specifically by conglomerates, sandstones, siltstones and greywackes of the basal Mississagi Formation up through the Gowganda and Lorrain Formations (Long, 1986; Clark, 1998). The Nippising diabase and/or gabbro occur in northwest and west of the property in Clement, Macbeth, and McNish townships, and in the northeast of property in Vogt township. The northern two thirds of the property show a series of roughly north-south trending units of conglomerate and siltstone-sandstone. MacVeigh (1956) concluded the formations form a syncline trending north 20 degrees east and plunging 5 degrees to the southwest. While very few field observations of strikes and dips have been made, those few that have been observed confirm that the sediments do form narrow, north south trending localized basins, perhaps filling paleotroughs in the Archean basement. The overall thickness of the Proterozoic sequence ranges from nil, where Archean greywackes are observed in outcrop on surface, to in excess of 377 metres, as documented by the 1956 diamond drilling completed by Pickle Crow Gold Mines in the area south of Silver Lake. Where observed on outcrops, the basal conglomerate is generally matrix supported, with a highly variable clast size ranging from a few centimeters to in excess of 1 metre. Sorting in the conglomerate is generally very poor, suggesting the basal conglomerate may have a glacial origin as opposed to a fluvial genesis. Clast lithologies are also highly variable, but in decreasing abundance are quartz, siltstone/shale, chert, granite, diorite, and lesser varied rock types.

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Gold mineralization defined to date on the property is associated with basal pyrite quartz pebble conglomerate of the Mississagi Formation within 30 metres above the uncomformity of Archean basement metasediments. 6. Previous Work In 1932, Bruce reported that a small quartz vein was located immediately south of the current property boundary. The vein was stripped and sampled, but yielded very low gold values. Between 1956 and 1957, Pickle Crow Gold Mines Limited explored for uranium minerals in the area, and completed two rounds of diamond drilling totaling 16 holes and 7,489 feet. MacVeigh (1956) and Thompson (1960) briefly presented the drilling results. Selected core samples from these holes were routinely assayed for uranium, yielding low and uneconomic values; only sporadic gold assays were reported, to a high of 0.055 opt over 10 feet. From the 1974 to 1996, the area comprising the property was withdrawn from staking, as part of the Bear Island Indian Caution. No exploration activity was allowed or reported during that period, though a limited Cobalt Embayment wide sampling program carried out by the Ontario Geological Survey in 1980’s sampled quartz pebble conglomerates located on the south shore of Tee Lake, and returned anomalous gold values to 165 ppb Au. In 1996, the property was staked by Vancouver based junior company Tenajon Resources Corporation. In 1997, the company completed a two phase exploration program on the property, comprised of an initial 1:20,000 reconnaissance scale mapping and sampling program, followed by a mechanized stripping and channel sampling program on the property. That work resulted in the discovery of two significant gold showings known as the “Northern” and Southern” Occurrences. At the Northern Occurrence, stripping revealed a thin veneer of basal conglomerate resting unconformably on Archean basement greywackes. The basement rocks trend approximately east-west and are almost vertical, while the basal conglomerate is flat lying and “pancaked” onto the basement. In several locations, the conglomerate is strongly iron-oxide stained, and carries up to 3-5% fine disseminated pyrite in the matrix. Grab values to 9.94 gpt gold were returned from the area, while channel samples returned a contiguous 12 metre interval grading 0.966 gpt gold. At the Southern Occurrence, only the basal conglomerate is exposed, and again, pyritic portions returned grab samples to 2.47 gpt Au, and channel samples to 1.75 gpt Au over 3 metres. During the same year, Tenajon completed orientation humus sampling and scintillometer surveys over the Northern Showing, to determine the applicability of those two exploration techniques to identify additional gold occurrences. The scintillometer survey failed to detect any anomalous radioactivity associated with the

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gold occurrence. The humus sampling detected several anomalies immediately over the showing area, and 100 metres north and south of the showing, with individual sample tenures to 62 ppb Au. In 1998, the property was optioned to Triex Resources Inc., earning a 60% interest in the project by completing $125,000 of exploration work during the 1998-1999 field seasons. That work included completion of a 40 kilometre cut-line grid over the area surrounding the Northern Occurrence, followed by humus geochemistry and ground magnetic/VLF-EM and pole-dipole induced polarization surveys over the grid. Both the humus geochemical survey and the IP survey identified multiple anomalies warranting follow-up. In July, 1999, Triex completed a program of power stripping and channel sampling over selected targets based on both IP and humus geochemistry responses. Of eight targets identified and sampled during the program, six returned anomalous gold mineralization over substantial widths. The IP survey appeared to have been extremely effective in defining high pyrite content portions of the conglomerate. Best results included an average grade of 451 ppb Au from twelve samples collected over a fifty metre exposure of the conglomerate, with high values to 2.20 gpt Au, and seven metres averaging 1.42 gpt Au, with a high individual metre channel carrying 7.03 gpt Au. During 2000, Tenajon briefly re-assumed operatorship, and planned to assess the southern portions of the property for PGE potential. That work was never carried out. Due to depressed metal prices, the property was allowed to lapse in 2004, and was acquired by the current property owners. In July, 2006, Endurance Gold Corporation completed a single 18 metre diamond drill hole on Claim 3011983. The hole was designed to approximately duplicate a 1956 drill hole by Pickle Crow Gold Mines, which was exploring the area for uranium. That hole indicated that the basal conglomerate was in excess of 100 metres thick, and Endurance had planned a 150 metre diamond drill hole to provide a complete stratigraphic cut through the basal conglomerate, with corresponding continuous geochemistry. Unfortunately, due to extremely difficult overburden conditions, the hole failed to reach bedrock, and was abandoned after six days of drilling. Also in July, 2006, Endurance Gold Corporation completed a 2500 metre mechanical stripping, washing, and channel sampling program at three locations, to evaluate IP anomalies generated as a result of the 1998 Triex work. That program was of a reconnaissance nature, and took place immediately off of the then property boundary. On receipt of results, Endurance staked 8 additional claims to cover the prospective stratigraphy. Results from the July 2006 program included a channel sample returning 3.52 gpt Au over 13 metres, with widespread anomalous gold values from the exposed basal conglomerate. In October, 2006, Endurance completed an additional 900 square metre stripping, washing and channel sampling program, as an extension to the July, 2006 program. That work has been filed for assessment (McIvor, 2006).

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Also in 2006, Katrine Exploration and Development was contracted to cut a 20.96 line kilometre grid on the property. In late October, Larder geophysics Ltd. was contracted by Endurance to complete a detailed ground magnetometer and VLF-EM survey over that grid, and that work was subsequently filed for assessment (Ploeger, 2006). In April, 2007, Endurance Gold Corporation completed a 17.5 line-kilometre Induced Polarization Survey over portions of the property (McIvor, 2007). That work successfully identified numerous strong I.P. chargeability highs, believed to coincide with significant pyrite concentrations within the basal conglomerate horizon, and with gold mineralization related spatially with the pyrite. During the period May 15 through June 22, 2007, a 23.0 line-kilometre geological mapping and prospecting program was carried out on portions of the Pardo Property (Cullen and McIvor, 2008). Mapping consisted of walking cut-grid lines, and noting all outcrop locations and lithologies, as well as relevant sulphide content. Systematic grab sampling was completed on outcrops containing any appreciable sulphide content. A total of 121 samples were collected during the program. The mapping program primarily encountered three basic lithological types. Most prevalent was a poorly sorted, matrix supported basal conglomerate believed to be a member of the Mississagi Formation. This lithology, the host to previously defined gold anomalies on the property, contained variable sulphide content, from nil to in excess of 5% in places. Typically, a higher sulphide content, and increase in the percentage of quartz clasts in the conglomerate, is empirically related to significantly anomalous gold values, and these parameters were noted during mapping. Also encountered during the program were stratigraphically higher sequences of sandstone/quartzite, which typically were not mineralized. The third lithological type encountered during mapping was a siltstone-argillite, believed to be Archean in age and typically located immediately beneath the basal conglomerates. In numerous instances, the stratigraphic relationships between the three units were unclear in the field, due to insufficient vertical outcrop exposure. The overlying sandstone/quartzite unit was often similar in appearance to the underlying siltstone/argillite unit, and differentiating the two was difficult. As such, at many locations on the enclosed map, the two units are described but undifferentiated as to stratigraphic position and age. For the most part, the encountered sedimentary strata were flat lying to very gently dipping in both east and west directions, suggesting a gently undulating paleotopography. Of the 121 samples collected during the program, 28 returned significantly anomalous gold values in excess of 100 ppb. Of those 28 samples, 6 returned gold values of between 100 and 500 ppb, and 1 sample returned a value in excess of 1,000 ppb (Sample 343555, with 1,880 ppb Au). Most all the significantly anomalous gold values were from pyritic conglomerate, though one sample of quartzite (Sample 343732) in the Tee Lake area returned a gold assay of 528 ppb Au. During the period July 15 through August 15, 2007, a 56 hole, 653 metre diamond drilling program was carried out on portions of the Pardo Property. All 56 holes were

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drilled on Claim 4202512, to test strong Induced Polarization chargeability anomalies in the immediate vicinity of surface channel sample results of 3.52 gpt Au over 13 metres, in the Trench 2 area of the property. All holes were vertical, and designed to drill through the basal conglomerate horizon into Archean basement metasediments. The close spacing of the holes was designed to provide detailed information regarding the distribution of gold mineralization within the conglomerate in the third (vertical) dimension, and allow correlation between surface channel sample results and grade in drill core. Most all holes drilled in the Trench 2 area encountered variable thicknesses of the targeted pyritic quartz pebble dominant basal conglomerate, before penetrating the underlying Archean metasedimentary stratigraphy (argillites-siltstones). In certain lower lying areas (Holes 15, 43 and 56) the drill holes collared into basement rocks, with no conglomerate horizon present. During the period May 25 through July 07, 2008, a 41 hole, 979.5 metre diamond drilling program was carried out on portions of the Pardo Property. The holes were drilled on claims numbered 3009440 (Holes 70, 72 through78, 80 through 83), 4202512 (Holes 11 through 29), 4202513 (Holes 09,10) and 4202514 (Holes 01 through 08), and were designed to test a series of strong IP chargeability anomalies and/or strong surface gold values in the target conglomerate horizon over a large portion of the property, as a follow up to the 2007 diamond drilling program. In 2009, Mount Logan Resources Ltd., a subsidiary of Ginguro Exploration Inc., carried out a reconnaissance mapping and prospecting program, collecting 370 grab samples that contain up to 72.2 gpt Au. This program generally identified the distribution of major rock types exposed in the property, and confirmed that basal pyrite quartz pebble conglomerates of the Mississagi Formation locally contain appreciable gold mineralization. In addition, five 500-pound bulk samples were collected using controlled explosives. These samples were metallurgically tested, indicating an average head grade of 2.0 gpt and 94% gold could be recovered (Ginguro Exploration Inc. April 11, 2010 press release). The result of this test is positive. A 51 km cutline grid was also made by Mount Logan in 2009, which was investigated by a ground magnetometer survey. Magnetic highs were noted in the northwestern portion of the surveyed grid, which is interpreted to be resulted from the Nipissing diabase and/or gabbro dykes. However, no magnetic anomalies related to basal conglomerates were picked up. An IP survey on the same grid was carried out, and identified 35 anomalies. Some of these IP targets were drilled by a diamond drilling program during July 29 through August 20, 2009, which consisted of 17 holes totaling 742 metres. Significant gold mineralization intervals were intersected in 14 holes, and a large gold nugget was recovered at the depth of 41.46 metres from borehole PD-09-09. The drilling program led to realizing that some of the IP anomalies reflect structures or diabase dykes.

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7. Grid Geological Mapping and Drillhole Planning A grid geological mapping program supported by GIS compilations, high definition topographic data, and reconnaissance geological mapping was performed on the Pardo property during May 10 to July 23, 2010, in order to better understand strategraphy, sedimentology and structures of the Huronian Supergroup that exposes within the Pardo property with an object of definition of drilling targets – basal pyritic quartz pebble conglomerates. The grid mapping at scale of 1:2500 covered existing cutlines made previous and 64.1 km new cutlines in which 28.2 km on the 100% owned claims made this year by Mount Logan Resources Ltd. (Figure 3), which was conducted by Luke Longridge (2010). The GIS compilations and reconnaissance geological mapping were completed by Xueming (Eric) Yang (2010).

Figure 3 Graph of existing cutlines and 2010 new 64.1 km cutlines (in blue) 7.1 Mapping Units

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Using data from drillholes drilled by Mount Logan Resources Ltd. in 2009, and by Endurance Gold Corporation in 2007 and 2008 together with observations on outcrops and trenching exposures, a stratigraphic sequence of the target rocks – basal pyritic quartz pebble conglomerates of Mississagi Formation, can be established for the area. The stratigraphic subdivision comprises three basic units, namely a lower conglomerate unit (Unit 1), overlain by a sandstone unit (Unit 2), and an upper conglomerate (Unit 3). These units are mappable with the help of 2-metre contour topographic data and derivative digital elevation model (DEM). This stratigraphy has been devised using the graphic logs provided by Dr. Darrel Long at Laurentian University, and is present in most of the deeper boreholes. However, Dr. Long’s logs all stop at a depth of 25 m, hence some of his logs have been extended using the Endurance core logs. In addition to lithological correlations, plots of grade vs. depth have been constructed, and grade correlated across boreholes. Cores have been sampled at meter intervals, and thus a correlation between grade and lithology is imperfect. Nonetheless, there does appear to be a stratigraphic control on Au grades. The characteristics of each unit are as follows. Unit 1 – This is the lowermost unit, developed immediately above the unconformity with the Archaean basement. It comprises conglomerate, with minor subunits of sandstone and siltstone. Typically pyrite and chalcopyrite are found in a conglomerate near the base of this unit. Clasts are rounded to subrounded. It is within conglomerates from this lowermost unit that grades of >1000 ppb Au are generally found. Unfortunately, samples previously taken were spaced at meter intervals, rather than sampling stratigraphic units, and a detailed correlation of grade versus lithology is not possible, but it does appear as though higher grades are found in conglomerates at the base and top of Unit 1. Additionally, a basic subdivision for Unit 1 can be constructed (see below). Unit 2 – Overlying the lower conglomerate of Unit 1, is a 5-15 m thick subarkosic sandy unit. This sandy unit is a generally the only marker horizon in the field, as the appearance of Unit 1 and Unit 3 in outcrop is similar. Although generally sandy, it contains occasional pebbles, and these may appear as conglomerate layers in drill core. It contains fine disseminated pyrite throughout. Although Au grade never reach the 1000 ppb level in Unit 2, the upper portions of this unit may carry elevated grade, up to 700 ppb Au. Unit 3 – The uppermost unit in the stratigraphy of the project area, this is an upper conglomerate. It appears to contain a lower proportion of quartz clasts relative to lithic clasts than Unit 1, may be locally matrix supported, and contains only minor amounts of pyrite. Clasts are more angular than Unit 1. Elevated grades up to an 800 ppb are found in this unit. Note that selected cores need to be reclogged in order to constrain the characteristics of these units better – the logs provided by Dr. Long do not include information such as

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proportions of quartz clasts, whether pyrite is secondary, or whether it is present as detrital grains, e.g., buckshot pyrite. 7.2 Subdivision of Unit 1 Based on the numerous drillcores logged by Dr. Darrel Long, it is possible to draw up a subdivision of Unit 1, into five subunits (termed A to E from lowest to highest). Although this subdivision is not applicable to geological mapping, it could shed lights on our drilling program in the future. These subunits can be correlated in drillcores across the entire project area, but thin and thicken, and may be locally absent. The subdivision is as follows: Subunit 1A - is a 0.5 m to 3 m thick conglomerate unit with a slightly higher proportion of quartz clasts than other conglomerate units. It may contain rounded, detrital pyrite grains, as well as recrystallized, euhedral pyrite cubes. This subunit typically contains higher grades than many of the overlying units, with grades of 60 to 2500 ppb, over meter intervals. Subunit 1B - overlying 1A, this is a thin (~0.3 m to 1 m thick) sandy unit, which may be interbedded with siltstone or minor conglomerate. Subunit 1C – the middle conglomerate unit, may be up to 5 m in thickness. Subunit 1D – another thin (0.5 m to 1 m) sandy to silty layer. Subunit 1E - An upper conglomerate layer is the uppermost subunit in Unit 1. It is up to 10 m thick, and may also contain elevated grades, up to 5000 ppb Au. Note that although this subdivision of Unit 1 can be constructed, many of these layers are discontinuous along ~10 m of strike, and it may be that subunits 1C and 1E may be the same unit, separated by a discontinuous sandy unit (subunit 1D). A standardized stratigraphic subdivision for the Pardo property is shown in Figure 4. The stratigraphic units need to be better defined in terms of clast type, clast size, matrix versus clast supported nature. This was done by reclogging selected boreholes which show the entire stratigraphy (PD08-25, PD08-82 and PD09-09). It is noted that in some deeper boreholes (PD09-07 to PD09-12), there are additional sandstone and conglomerate unit present above Unit 3.

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Figure 4 Standardized stratigraphy for the Pardo property with hypothetical Au grade shown by the curve. 7.3 Mapping and Cross-Sections Using this stratigraphic subdivision, in conjunction with borehole data, it is possible to construct structure contours with the lower unconformity, below which the Archaean basement occurs. However, field mapping, and correlations of closely spaced borehole logs indicates that the lower unconformity, and the entire stratigraphic package, have been displaced by a number of N-S to NNE-SSW trending normal faults. These typically form half-graben structures displacing the stratigraphy. Between these faults, the stratigraphy is generally subhorizontal to gently dipping (generally dips of <15°). Because of this, a plan view is inadequate to show the details of the structure in the area, and a number of E-W cross sections have been drawn (Figure 5). The locations of these sections are shown on the accompanying map (see back pocket). In addition to these N-S faults, a number of dextral NW- to WNW-trending strike slip faults postdate and offset the N-S faults. Diabase dykes are seen to intrude into both sets of faults, and form areas of lower elevation. In places, there has been extensive intrusion of diabase –

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it is often these areas which have been previously drilled, as they form IP anomalies. It is noteed that low-lying areas on the map have been interpreted as being underlain by diabase - in many of these cases diabase float or boulders are noted in field, but areas such as lakes and marshes are also interpreted as being underlain by diabase. Conglomerates and quartzites of the Missisagi Formation are more resistant, and generally form elevated blocks, bounded by lowlands with faults and diabase intrusions.

Figure 5 East-west cross sections over the area mapped

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7.4 Definition of Blocks A number of fault-bounded blocks on the northern end of the property, where previous drilling has been extensive. Towards the south of the existing gridlines, fewer holes have been drilled and the geology is less well defined, although a number of major fault-bounded blocks have been identified. Typically, these blocks are relatively easy to define, as the quartzites and conglomerates of the Mississagi Formation have positive relief, whereas faults, gabbro dykes and the Archaean basement erodes to areas of low relief. However, because of this, many of the gabbro dykes are inferred based in topography – they do not form outcrops, but often boulders of gabbro are found in low-lying areas. Towards the south of the mapped area, units higher in the Mississagi Formation crop out (rather than the simple three unit subdivision previously devised). These are mapped simply as “Upper Mississagi Sandstones and Conglomerates” or “Gritstone”, until more drilling has defined the stratigraphy of these area. The blocks defined in the northern areas from mapping and drilling are shown on Figure 6, and are as follows:

• Eastern Block • Nugget Block • Trench-2 Block • Western Block • North-Western Block • Northern Occurrence Block • Southwest Block

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Figure 6 Blocks defined by current geological mapping and previous drilling data

The characteristics of each of these blocks are discussed below.

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Eastern Block

This horst block contains the lower conglomerate unit, at shallow depths (less than 20m) and is defined by previous drillholes PD08-02, PD08-03, PD08-04, PD08-05, PD08-06, 08, PD08-10, PD09-13 and PD09-14. In these holes the basement is intersected at shallow depths, and Au grades are low with analyses less than 400 ppb. Hence, despite the shallow depth, this area should be considered as low priority. It may be useful at a later stage to view the core, and possible resample ¼ cores based on stratigraphic subdivisions rather than m-intervals. A number of the drillholes drilled in this area (not listed above) have been drilled into dykes of gabbro, which have intruded into the faults adjacent to this block. The 2008 and 2009 drill logs (McIvor, 2008, 2009; Oosterman, 2009) show that most holes drilled in this area have low percentages of quartz pebble clasts (less than 20%) and low amounts of pyrite (less than 3%), although in PD-08-04 there is a 50cm layer at the contact with the basement with elevated quartz and pyrite contents, but no significant Au content of 94 ppb.

Nugget Block

This graben block, between the horsts of the Eastern Block and the Trench 2 Block, is where the gold nugget was found in PD-09-09, and is defined by holes PD-09-07, PD-09-08, PD-09-09, PD-09-10, PD-09-11, and PD-09-12. This block is bounded to the west and east by large faults separating it from the Trench 2 Block and the East Block, and the basal contact is at a greater depth than in the adjacent blocks (40-50 m). Owing to of the greater depth of the basement contact, the lower units previously defined do not crop out at surface, and there are quartzite and conglomerate horizons above the three units originally defined. Apart from the Au nugget found in PD-09-09, there have been few promising intersections in this block, with the highest grade being 874 ppb (PD-09-07), in addition to a number of other >100 ppb intersections. Nonetheless, this block might be considered moderately prospective, and warrants more drilling.

Trench 2 Block

This block has been extensively drilled by Endurance in the Trench 2 area. To the north of this drilling, Archaean basement is found, but structure contours and field mapping indicate that this block extends at depth to the southwest, to a maximum depth of ~40m. Holes previously drilled by Endurance generally intersected only Unit 1, and show good grades in the lower portions of Unit 1 (2407 ppb in PD-07-02, 2947 ppb in PD-07-03, 1915 ppb in PD-07-04, 5211 ppb in PD-07-08, 1776 ppb in PD-07-16, 2494 ppb in PD-

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07-18, 2707 ppb in PD-07-23, 4951 ppb in PD-07-25, 3507 ppb in PD-07-28, 11428 ppb in PD-07-31, 2560 in PD-07-32, 4713 ppb in PD-07-65). Since these intersections have all been drilled in shallow holes, and the down-dip extension of this unit has not been explored, this block should remain a priority. In many of the holes drilled in this block, Unit 1 intersections have rounded quartz clasts up to 35%, with a corresponding increase in pyrite content up to 10%. However, this is not consistent for every intersection, and may be the results of channelization.

Western Block

This block, separated from the Trench 2 block to the east by a large normal fault, forms another graben. This area includes holes PD-08-16, PD-08-17, PD-08-18, PD-08-19, PD-08-20, PD-08-21, PD-08-22, PD-08-23, PD-08-24, PD-08-25, PD-08-26, PD-08-27, PD-08-28. Holes PD-08-16 and PD-08-17 PD-08-21, PD-08-22, were ended in Unit 2 quartzite, without reaching lower conglomerate or the basement. Basement contact is at ~30 m depth. Elevated values for Au (up to 9 g/ton) as well as elevated pyrite (up to 7%) are found in Unit 1, near the base, where this has been drilled. Since there have been good intersections in holes which intersected Unit 1, this block should be considered prospective, and more drilling is recommended for this block.

Southwest Block

This block, drilled in 2007 and 2009, is separated from the Western Block by a large strike-slip fault and gabbro dyke, and contains drillholes PD-07-70, PD-07-72, PD-09-01, PD-09-02, PD-09-03, PD-09-04, PD-09-05, and PD-09-06. Mapping indicates that this block continues to the south for ~1 km south of the most southerly holes drilled. Some grades over 1000ppb have been found (PD-09-05), and the Unit 1 conglomerate in this block shows higher proportions of quartz pebbles (30-50%), and pyrite (10-30%). Although PD-09-06 shows no Unit 1 conglomerate, it can be seen in the field that this hole was cased in Unit 1, but the casing core was not collected or sampled. Based on the promising intersection found in PD-09-05, and the fact that this block extends to the south, this block should be considered prospective.

North-western Block

This block, to the north-west of Trench 2, likely represents an extension of the Trench 2 Block. It contains two drillholes, PD-08-14 and PD-08-15, which both intersect only Unit

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1. These drillholes, together with mapping, indicate that the strata dip towards the southwest, and that this block likely extends down-dip to a maximum depth of ~30 m. Although no significant grades were found in the two holes drilled in this block, it has been poorly explored and warrants further exploration.

Northern Occurrence Block

Just to the east of the Northern Occurrence, this block has been extensively drilled by Endurance in 2008, and contains drillholes PD-08-73, PD-08-74, PD-08-75, PD-08-76, PD-08-77, PD-08-78, PD-08-80, PD-08-81, PD-08-82, and PD-08-83. In this block, the basement is intersected at depths of 30-40 m in some holes (PD-08-78, PD-08-80, PD-08-81, PD-08-83), whilst other holes intersect “basement” at shallower depths. However, it is likely that these shallower intersections are in fact intersections with gabbro dykes. The fine-grained chill margins of these dykes have a very similar appearance to the fine-grained metasediments in the basement, and field mapping indicates that a number of dykes cross-cut this area. In some holes, grades of ~1 g/t and up have been found (1047 ppb in PD-08-76, 953 ppb in PD-08-80, 1974 ppb in PD-08-82), and a number of other intersections of a few hundred ppb. However, since this area has been extensively explored, it should be considered as lower priority.

Comparison of previous drill logs with the relogged cores

We relogged three of the previously drilled cores (PD-08-25, PD-08-82 and PD-09-09) using the log sheet devised by Mike Shaw, Consultant Geologist. When compared these with the old logs captured into the new format by Winston Whymark and Wesley Whymark, Geological Assistants, the difference in detail is astounding. The previous logs do not capture any of the detail regarding changes in clast composition, clast sizes, pyrite contents, and sandy interbeds within the conglomerates. This means it is difficult to draw any conclusions regarding where the mineralization lies with from the old core logs, and will need to pay attention to this when logging the new core to be drilled in this field season.

Historical core logs – Pickle Crow logs

Towards the south of the mapped area, where there have been no holes drilled by Endurance or Ginguro, there are a number of historical holes, drilled by Pickle Crow

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Gold Mines in 1956. We captured the historical logs using new log sheet and georeferenced these holes as best as possible in our GIS.

From these holes, it is evident that in the Tee Lake area (where a trench was blasted), upper conglomerate crops out, and the basal contact is at 30-50 m depth. Additionally, these logs confirm field observations that a unit of microconglomerate is found in this area, above the level of the Unit 3 conglomerate. A hole drilled in a similar area to PD-09-16 (I-33 S) confirms field observations that this block extends to the south, with the basal contact at depths of ~130 m. Another drillhole in the Line 34 area (P-21 S) indicates the southern limit of the conglomerate, where exposure is limited. Drillholes 7 and 8 confirm field observations that towards the west of the mapped area, the Mississagi Formation is thick, and the basal contact occurs at depths of >300-400 m.

7.5 Results of Geological Mapping and proposed drill holes

Based on the current mapping and previous drilling data, a number of areas show potential for further drilling. Additionally, there are mapped areas which show Mississagi Formation rocks that have not been drilled. Thus, the drilling should be divided into two phases - an initial phase of drilling stratigraphic holes along E-W lines (with possible extra N-S holes), followed by a more extensive drilling to better define the mineralization. 82 holes were planned. The first hole PD-10-01 was drilled on claim 4217748, and the results of drilling is included in this assessment report.

Although the current mapping area covers claims optioned from Endurance, i.e., 4201291, 4201292, 420511, 4202512, 4202513, 3009440, 3009441, 3011982, 3011983, 3011984, 3011999, 4202510, 4202514 and 100% owned claims of Mount Logan, i.e., 4250766, 4217749, 4217750, 4217751, 4217729, 4217730, 4217731, 4217732, 4217733, 4217734, 4217735, 4217736, 421338, 4217739, 4217747, 4217748, 4251770, this report concentrates on the 100% owned claims of Mount Logan. In the back pocket, one 1:2,500 scale geological maps (Map 1) and one 1:8,500 scale (Map 2) covering existing cutlines and the 64.1 km new cutlines (Figure 3) and showing entire area mapped. Also, location of PD-10-01 is shown on Map 5 and Map 6.

8. Diamond Drilling The diamond drilling was completed by Foraco Canada Limited of North Bay, Ontario, using an LF70 hydraulic drill rig. Core size was NQ. Core recoveries were 100%, with the target conglomerate horizon a hard and competent unit. During drilling, recovered

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core was placed in core boxes, tagged and sealed via fiber tape or rubber strap, and delivered to the Mount Logan core logging area at the end of each shift.

On site drilling supervision and core logging were completed by Luke Longridge and Xueming (Eric) Yang P.Geo., of Sudbury, Ontario. All core samples were sawn by Winston Whymark and Wesley Whmard, of Ontario under supervision of Longridge or Yang. Both saw and splitter were thoroughly cleaned after each sample was taken. The half-core collected was sealed in plastic sample bags, with appropriate laboratory identification tags, and then sealed in fabrene shipping bags for delivery to the ALS Chemex Facility in Sudbury, Ontario, for sample preparation and analysis. An internal quality assurance and quality control program was used to monitor the analytical results; i.e., minimum 5% of samples shipped to the labs are certified standards, duplicates and blanks.

The first hole PD-10-01 was drilled on claim 4217748 (see location on Map 1 and Map 2), started on June 30 and completed on July 6, 2010. It collared on overburden with 6.0 metre thick, and drilled vertically through a 373.68 metre thick sequence comprising of sandstone, siltstone, mudstone and conglomerate into the Archean basement consisting of metasediments. The target rock of quartz pebble pyritic conglomerate was intersected at the depth of 346.34 m, with an apparent thickness of 27.30 m. This confirms the geological model based on the present geological mapping data, that the basal conglomerate (Unit 1) extends to south over 2 km from hole PD-09-17 drilled last year by Mount Logan, and structure controls the relative depth of fault-bounded blocks. The significance of this hole is that it greatly expands the area of potential gold mineralization reef(s). A 7.39 m interval of conglomerate was encountered by drilling from 152.24 to 159.63 m. Detailed on the drilling data is attached in the drill log as an Appendix 1 in this report, consisting of 3 tables and a diagram of cross section; 1) drillhole PD-10-01 log, 2) samples taken from drillhole PD-10-01, and 3) down hole surveys of drillhole PD-10-01. The core logging was carried out using the new core logging form. The codes of rock types used in the drill log were adopted from Knowles (1968), which are commonly used in South Africa and presented in Table 3.

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Table 3 Lateral depositional facies description and interpretation of the B placer (Knowles, 1968)

Significant gold mineralization intervals were returned as indicated below. It appears these intervals are separate gold mineralized units host in conglomerate. Detailed for the assay data are presented in the appendices 2 and 3

From 349.81 to 350.81 metres, 2.31 ppm Au, over 1.0 metre;

From 152.24 to 152.65 metres, 1.57 ppm Au, over 0.41 metre.

Sample_No. From (m) To (m) Interval (m) Rock_type (unit) Au (ppm) H930903 152.24 152.65 0.41 Conglomerate layer 1.57 H930904 154.06 154.21 0.15 Conglomerate layer 0.84 H930860 349.81 350.81 1.00 Conglomerate unit 2.31 H930873 357.48 357.83 0.35 Conglomerate unit 0.64

9. Conclusions During May 5 to July 23, an extensive grid geological mapping and reconnaissance geological mapping program was completed to better understand the distribution of basal quartz pyritic conglomerates of the Mississagi Formation and effective define

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drilling targets. Current geological mapping data defined a number of fault-bounded blocks, which allows us to plan some initial drilling. 82 drillwholes were proposed. The first hole PD-10-01 was drilled, and intersected significant gold-bearing reefs over 2 km south of hole PD-09-17, confirming the geological model built up on the basis of current geological mapping data. This significantly expands the distribution range of gold-bearing conglomerate unit. However, what is lacking at this stage are some details such as isopachs for the different units, and detailed stratigraphic information. These will be further investigated with the progress of on-going drilling program. It is suggested that core logging should follow the practices used in the report, describing such information as clast type, whether conglomerates are matrix or clast supported, matrix composition, sulphide types.

Additionally, there are mapped areas which show Mississagi Formation cocks that have not been previously drilled. Thus, the drilling should be divided into two phases - an initial phase of drilling stratigraphic holes along E-W lines (with possible extra N-S holes), followed by a more extensive diamond and/or RC programme to better define the mineralization. Obviously, in areas with basement, no drilling will take place along the cutlines. And perhaps in areas where it is known that the basal contact is at >100m depth, fewer holes should be drilled. The first PD-10-01 drilled in the south has provided an idea of the geology of this area consistent with our geological model, which has not been previously drilled.

10. References Bruce, E.L. 1932: Geology of the Townships of Janes, McNish, Pardo and Dana; Ontario Department of Mines Volume 41, Part 4, p.1-28, Accompanied by map 41f, scale 1 inch to ½ mile. Clark, J.G. 1998: Report on 1998 Geophysics and Humus Sampling, Pardo Property; Triex Resources Inc. Internal Report. Cullen, D. 1997: Report on 1997 Prospecting, Geological Mapping, Stripping and Channel Sampling on the Pardo Property; Tenajon Resources Corporation Internal Report. Cullen, D. and McIvor, D.F. 2008: Report on the Summer 2007 Mapping and Prospecting Program on the Pardo Property, Pardo and Clement Townships, Sudbury Mining Division, Ontario; Endurance Gold Corporation Assessment Report (Number and Acceptance Pending).

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Dressler, Burkhart O. 1979: Geology of McNish and Janes Townships, District of Sudbury; Ontario Geological Survey Report 191, 91 p., Accompanied by Map 2425, scale 1:31,680. Easton, R.M., 2007. Precambrian geology, Crerar – River Valley area; Ontario Geological Survey, Preliminary Map P.3578, scale: 1:50,000. Fairbairn, H.W. et al. 1960: Mineral and Rock Ages at Sudbury-Blind River, Ontario; Proceedings of the Geological Association of Canada, Volume 12, p. 41-66. Knowles, A.C. 1968: A Sedimentological Investigation of the B Reef in the Northern Part of the Orange Free State Goldfields. Anglo American Corporation Limited, Unpublished Technical Report, 37 p. Long, D.G.F. 1981: The Sedimentary Framework of Placer Gold Concentrations in Basal Huronian Strata of the Cobalt Embayment; in Summary of Field Work, 1981, by the Ontario Geological Survey, OGS Miscellaneous Paper 100, ed. by John Wood et al. Long, D.G.F., 1986: Stratigraphic and Depositional Setting of Placer Gold Concentrations in Basal Huronian Strata of the Cobalt Plain; Ontario Geological Survey, Open File Report 5593, 125 p.

Longridge, L. 2010: Report – Mapping of existing gridlines and Interpretation of existing drillholes, with suggestions for initial 2010 drilling; Report on mapping of new cutlines. Ginguro Exploration Inc., Internal Memo, 10 p. MacVeigh, E.A. 1956: Report on the Geology of the Pickle Crow Gold Mines Property, Pardo Township, Temagami Area, Ontario; Pickle Crow Gold Mines Internal Report. McIvor, D.F. 2006: The Results of a July, 2006 Diamond Drilling Program in Pardo Township, Sudbury Mining Division, Ontario; Endurance Gold Corporation Assessment Report 2.33271. McIvor, D.F. 2006: The Results of an October, 2006 Mechanized Stripping, Washing and Channel Sampling Program on Claim 4202512 in Clement Township, Pardo Property, Sudbury Mining Division, Ontario; Endurance Gold Corporation Assessment Report W0670.01904. McIvor, D.F. 2007: The Results of an April 2007 Induced Polarization Geophysical Survey on the Pardo Property, Pardo and Clement Townships, Sudbury Mining Division, Ontario; Endurance Gold Corporation Assessment Report (Pending Acceptance) W0770.02268.

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McIvor, D. F. 2008: Report on the October-November 2007 Prospecting and Sampling Program on the Pardo Property, Pardo and Clement Townships, Sudbury Mining Division, Ontario; Endurance Gold Corporation Assessment Report W0870.00796. McIvor, D. 2008: Results of the 2007 Diamond Drilling Program On the Pardo Property, Pardo and Clement Townships, Sudbury Mining Division, Ontario. Endurance Gold Corporation Assessment Report.

McIvor, D. 2009: Summary Report: Results of the 2008 Diamond Drilling Program On the Pardo Property, Pardo and Clement Townships, Sudbury Mining Division, Ontario. Endurance Gold Corporation Assessment Report.

Ontario Geological Survey 1975: Map 2361, Sudbury-Cobalt Geological Compilation 27. Oosterman, D. 2009: Results of the 2009 Diamond Drilling Program On the Pardo Reef Property, Pardo and Clement Townships, Sudbury Mining Division, Ontario. Mount Logan Resources Ltd. Assessment Report.

Ploeger, C.J. 2006: Magnetometer and VLF Surveys Over the Pardo Gold Project, Pardo and Clement Townships, Ontario; Larder Geophysics Ltd. Assessment Report Q0670.01901. Stockwell, C.H. 1964: Fourth Report on Structural Provinces, Orogenies and Time Classification of the Canadian Precambrian Shield; p.1-21, in Age Determinations and Geological Studies, Part II, Geological Studies, Geological Survey of Canada, Paper 64-17, 29 p. Thomson, J.E. 1960: Uranium and Thorium Deposits at the Base of the Huronian System in the District of Sudbury; Ontario Department of Mines Geological Report No. Van Schmus, W.R. 1965: The Geochronology of the Blind River-Bruce Mines Area, Ontario, Canada; Journal of Geology, Volume 73, Number 5, p. 755-780. Yang, X.M. 2010: Reconnaissance geological mapping: updated report. Ginguro Exploration Inc., Internal Memo, 5 p. 11. Cost Statement The total costs of $163,944.05 incurred on the claims of 100% owned by Mount Logan Resources Ltd. are broken down in terms of work type, associated costs, and other items (Table 4).

34

Table 4 Costs of the mapping and drilling program Items Unit of work Rate/unit of work Costs ($) Line cutting 28.20 649.75 18,322.95 Foraco Canada Invoice 390.00 130.42 50,864.00 PhotoSat invoice (data) 85 218.66 18,586.10 Data processing, interpretation, and report preparation 116.00 85.00 9,860.00 Exploration Services 336.66 ALS Chemex invoice 55.00 64.33 3,537.91 Wages and benefits 120.00 304.16 36,498.93 Supervision 9.00 1000.00 9,000.00 Field supplies 6,150.00 Food 3,200.00 Fuel 2,062.50 Truck Rental 50.00 30.00 1,500.00 ATV Rental 25.00 30.00 750.00 Blue Demon Lodge 30.00 80.00 2,400.00

Total 163,069.05 12. Certificate of Author 1) I am currently hired as Exploration Geologist by Ginguro Exploration Inc., 101-957

101-957 Cambrian Heights Drive, Sudbury, ON P3C 5S5 2) I graduated with a Bachelor of Engineering (Geology) and a Master of Science

(Economic Geology) from Hefei University of Technology in 1983 and in 1986, respectively. I received a Ph.D. degree (Economic Geology) from the University of New Brunswick in 2005.

3) I am member of the Association of Professional Geoscientists of Ontario (APGO), Registration Number 1582.

4) I have worked as a geologist for a total of 27 years since my graduation from University.

5) I have read the definition of "Qualified Person" set out in National Instrument 43-101 ("NI 43-101") and certify that by reason of my education, affiliation with a professional association (as defined in NI 43-101) and past relevant work experience, I fulfill the requirements to be a "Qualified Person" for the purposes of NI 43-101, and for the purposes of writing and submitting this assessment report.

6) I am the author responsible for the preparation of the technical report titled “Pardo Project 2010 work report I: grid geological mapping and definition of drilling targets,

and diamond drilling; Pardo, Clement, Macbeth, Vogt, McNish and Janes townships, Ontario".

7) I have been working on with the property since 2010, and during the drilling program described here-in, was on the property for most of the period May 10 through July 17'h, 2010.

8) I am not aware of any material fact or material change with respect to the subject matter of this report, the omission to disclose which makes this report misleading.

9) I am not independent of Ginguro Exploration Inc., applying all tests in section 1.5 of Nl43-1 01. I am under contract as Exploration Geologist of the company.

1 O)As of the date of this certificate, and to the best of my knowledge, information and belief, the Technical Report contains all scientific and technical information related to the program here-in described.

Dated this 29th Day of July, 2010

Signed

Xueming (Eric) Yang, Ph.D., P.Geo.

35

36

Appendix

1. Drillhole PD-10-01 log 2. Samples taken from drillhole PD-10-01 3. Drill Section PD-10-01 4. Down hole surveys of drillhole PD-10-01 5. Certificate of analysis from ALS Chemex

Project: Pardo 1. Drillhole PD-10-01 logDrill Log ID

Northing Easting Elevation Surveyed?

Dip Azimith Core size

End hole Date Start

Date Comple

Logged by

Logged Date

Sampled by

Sampled Date

PD-10-01 5177520 554479 263.5 No 90 NQ 390m 30/06/2016/7/2010 L.Longridge 7/7/2010 W.Whymark 7/7/2010Graphic Depth Lithology code Particle/clast size Clast composition Pyrite/sulphides Matrix Bedding/Contacts Comments /f sf sm sc gf gm gc From To Lith minor Lith maj Ave Max Qtz% Type 2 Py type Py % Py Size Type Size Dips Type Stratigraphy/ Interpretation

0 6 OB

6 152.24 Gmpw shw 30 disseminatrace 0.5

coarse to fine sand, with local pebbles and thin matric supported conglomerate layers

152.24 152.65 Gmpm 30 50 40 metavolcasecondary1 1 greywac0.5-1 mm152.65 154.06 shw 0154.06 154.21 Gmpm 30 50 20 metavolcanics, silts0 greywac0.5-1 mm154.21 155.1 shw 50 secondary1 2 sand with local pebbles155.07 155.3 Gmpm 30 50 40 metavolcanics, silts0155.31 158.95 shw 0158.95 159.63 Gmpm 30 50 30 metavolcanics, silts0

Type

Diamond

Page 1 of 4




End hole Date Start

Date Comple

Logged by

Logged Date

Sampled by

Sampled Date


Type

Diamond

159.62 249.71 shw 30 disseminatrace 0.3variably coarse to fine sand, some local interbeds of mudstone

249.71 255.34 fl spots trace 3

255.34 267.74 shw coarse sand

267.74 274 shwsome silty beds, 1 m fine sand near base, silicic

274 300.15 fl veins 1 3pyrrhotite and chalcopyrite, fine sand near base of unit

300.15 313.13 Gmpm 8 40 20 metavolcasecondarytrace 3 Gowganda?

313.13 317.17 shw disseminatrace 0.1fine sand, siltly/shaley interbeds

317.17 321.47 shw coarse sand

321.47 346.34 12 cm qtz vfl silt beds near base

Page 2 of 4




End hole Date Start

Date Comple

Logged by

Logged Date

Sampled by

Sampled Date


Type

Diamond

d346.34 350.81 Gmpm 5 20 70 metavolcadetrital 1 0.3 greywac0.5 mm

350.81 352.56 shw disseminatrace 0.5

352.56 352.95 fl veins trace pyrrhotite/chalcopyrite veins352.95 353.39 Gmpm 20 50 80 metavolcamatrix 5 0.1 greywac1 mm pyrrhotite 353.93 354.04 fl veins trace pyrrhotite/chalcopyrite veins354.04 355 Gmpc 30 60 50 siltstone, secondary25 1 sulphide1 mm pyrrhotite and chalcopyrite

355 355.19 fl355.19 356.83 Gmpc 30 70 60 BIF, siltst detrital 10 3 greywac2 mm356.83 358.83 Gmpc 8 40 40 siltstone, massive, 20 2 greywac2 mm

358.83 359.8 Gmpm 10 50 60 siltstone disseminatrace 0.5 greywac2 mm359.8 361 shw bedding 2 0.1 pyrite on bedding planes361 361.79 Gmpc 5 10 90 metavolcadissemina1 0.5 greywac0.3 mm361.79 362.91 shw362.91 365.14 Gmpm 25 50 10 metavolcadissemina2 0.5 greywac0.3-2 mm sand interbeds

20cm shale at base

365.14 365.91 shale shw356.91 366.93 Gmpc 20 40 90 metavolcamatrix, de8 1 greywac0.5 mm

366.93 370.66 shw 20 20mm qtz clasts

Page 3 of 4




End hole Date Start

Date Comple

Logged by

Logged Date

Sampled by

Sampled Date


Type

Diamond

370.66 371.74 Gmpm 10 20 60 metavolcamatrix 2 0.3 sulphide0.3-2 mm

371.74 372.47 shw 40372.47 372.93 Gmpm 15 30 90 metavolcadetrital 5 2 greywac1 mm pyrrhotite and pyrite372.93 373 shw373 373.16 Gmoc 15 30 100 detrital 5 2 sulphides, greywacke sulphides in matrix373.16 373.68 shw 15 disseminatrace 0.2373.68 374.83 shw374.83 390 metasediments veins trace

pypyrrhotite veins

Page 4 of 4

Lithology (facies) codes used in the drill logs (after Knowles, 1968)

0PD-10

-01

250

390m

554,

600

mE

554,

550

mE

-50 mN

554,

400

mE

554,

450

mE

554,

500

mE

-150 mN

-100 mN

300 mN

0 mN

50 mN

100 mN

150 mN

200 mN

250 mN

554,

350

mE

Mount Logan Resources Ltd.

0 10

Author: E Yang

Pardo Project, OntarioDrill Section PD-10-01

Facing north

Collar: Easting 554479Northing 5177822Elevation 263.5 m

20

metres

40

Scale: 1:1000

Drawing:

Projection: UTM_NAD83_Zone 17N

Date:1/11/2010

Office: Sudbury

MIU_Middle to Upper Units of Mississagi Formation

OB _Over Burden

MIGL_Basal Unit Lower of Mississagi Formation

MIGU_Basal Unit Upper of Mississagi Formation

MIS_Basal Unit Middle of Mississagi Formation

MA_Matinenda Formation

ABS_Archean Basement Metasediment

MK_McKim Formation

RLGS_Gritstone of Ramsay Lake Formation

RLDI_Diamictite of Ramsay Lake Formation

PEF_Lower Silt /Mud Unit of Pecors Formation

PES_Upper Sand Unit of Pecors Formation

Legend for StratigraphyEOH

StratigraphyTrace Shade

HoleID

2. Samples taken from drillhole PD-10-01HoleID From To SampNo SampDesc Au_ppm Ag_ppm Al_pc As_ppm B_ppm Ba_ppm Be_ppm Bi_ppm Ca_pcPD-10-01 152.24 152.65 H930903 Conglomerate layer 1.57 0.2 0.93 10 <10 30 <0.5 <2 0.14PD-10-01 154.06 154.21 H930904 Conglomerate layer 0.827 0.3 0.77 <2 <10 30 <0.5 <2 0.31PD-10-01 155.07 155.3 H930905 Conglomerate layer 0.287 0.3 0.79 <2 <10 20 <0.5 <2 0.17PD-10-01 158.95 159.63 H930908 Conglomerate layer 0.071 <0.2 0.71 7 <10 40 <0.5 <2 0.25PD-10-01 344.3 345.34 H930854 Lower portion of fines layer 0.005 0.3 1.38 2 <10 20 <0.5 <2 0.61PD-10-01 345.34 346.38 H930855 Lower portion of fines layer <0.005 <0.2 2.06 4 <10 50 <0.5 <2 0.53PD-10-01 346.38 347.23 H930856 Conglomerate unit 0.122 <0.2 0.8 <2 <10 20 <0.5 <2 0.13PD-10-01 347.23 348.27 H930857 Conglomerate unit 0.007 <0.2 0.5 <2 <10 30 <0.5 <2 0.15PD-10-01 348.27 349.3 H930858 Conglomerate unit 0.007 0.3 0.22 3 <10 20 <0.5 <2 0.11PD-10-01 349.3 349.81 H930859 Conglomerate unit 0.02 0.2 0.4 6 <10 40 <0.5 <2 0.09PD-10-01 349.81 350.81 H930860 Conglomerate unit 2.31 <0.2 0.29 <2 <10 10 <0.5 <2 0.07PD-10-01 350.81 351.78 H930861 sand <0.005 <0.2 0.48 <2 <10 40 <0.5 <2 0.09PD-10-01 351.78 352.56 H930862 sand 0.005 <0.2 1.13 <2 <10 40 <0.5 <2 0.1PD-10-01 352.56 352.95 H930865 mudstone 0.006 <0.2 1.54 <2 <10 30 <0.5 <2 0.25PD-10-01 352.95 353.42 H930866 Conglomerate unit 0.009 0.2 1.36 <2 <10 30 <0.5 2 0.18PD-10-01 353.42 354.04 H930867 mudstone 0.006 0.2 2.15 <2 <10 60 <0.5 <2 0.26PD-10-01 354.04 354.48 H930868 Conglomerate unit 0.028 <0.2 0.72 11 <10 20 <0.5 2 0.08PD-10-01 354.48 355 H930869 Conglomerate unit 0.229 0.5 0.58 72 <10 20 <0.5 9 0.07PD-10-01 355 355.19 H930870 mudstone 0.017 <0.2 1.43 4 <10 60 <0.5 <2 0.04PD-10-01 355.19 356.83 H930871 Conglomerate unit 0.085 0.2 0.4 22 <10 10 <0.5 <2 0.02PD-10-01 356.83 357.48 H930872 Conglomerate unit 0.134 <0.2 0.46 40 <10 20 <0.5 3 0.02PD-10-01 357.48 357.83 H930873 Conglomerate unit 0.637 1.2 0.5 151 <10 20 <0.5 11 0.02PD-10-01 357.83 358.31 H930876 Conglomerate unit 0.271 0.4 0.5 62 <10 20 <0.5 5 0.04PD-10-01 358.31 358.92 H930877 Conglomerate unit 0.104 0.2 0.43 21 <10 10 <0.5 <2 0.05PD-10-01 358.83 359.8 H930878 Conglomerate unit 0.024 <0.2 0.34 6 <10 10 <0.5 <2 0.02PD-10-01 359.8 361 H930879 sand 0.018 <0.2 0.31 6 <10 20 <0.5 <2 0.02PD-10-01 361 361.79 H930880 sand 0.015 0.2 0.85 6 <10 40 <0.5 <2 0.06PD-10-01 361.79 362.91 H930881 sand 0.005 <0.2 0.57 <2 <10 30 <0.5 <2 0.02PD-10-01 362.91 363.92 H930882 Conglomerate unit 0.02 0.5 1.13 <2 <10 40 <0.5 2 0.08PD-10-01 363.92 364.67 H930883 Conglomerate unit 0.007 <0.2 1.12 <2 <10 40 <0.5 <2 0.06PD-10-01 364.67 365.14 H930884 Conglomerate unit 0.01 <0.2 0.76 <2 <10 30 <0.5 <2 0.03PD-10-01 365.14 365.91 H930887 sand 0.005 0.3 0.68 <2 <10 40 <0.5 <2 0.12PD-10-01 365.91 366.4 H930888 Conglomerate unit 0.02 0.3 0.45 3 <10 30 <0.5 2 0.1PD-10-01 366.4 366.93 H930889 Conglomerate unit 0.034 0.7 0.34 17 <10 20 <0.5 7 0.03PD-10-01 366.93 367.94 H930890 sand 0.007 0.2 0.38 <2 <10 40 <0.5 <2 0.05

Page 1 of 10

HoleID From To SampNo SampDesc Au_ppm Ag_ppm Al_pc As_ppm B_ppm Ba_ppm Be_ppm Bi_ppm Ca_pcPD-10-01 367.94 368.74 H930891 sand 0.007 0.2 0.48 <2 <10 40 <0.5 2 0.04PD-10-01 368.74 369.75 H930892 sand 0.011 0.4 0.47 <2 <10 40 <0.5 3 0.05PD-10-01 369.75 370.66 H930893 sand 0.007 0.3 0.45 <2 <10 40 <0.5 2 0.06PD-10-01 370.66 370.98 H930894 matrix supported conglomerate 0.011 0.4 0.49 4 <10 40 <0.5 5 0.06PD-10-01 370.98 371.74 H930895 matrix supported conglomerate 0.008 0.3 0.42 <2 <10 40 <0.5 3 0.03PD-10-01 371.74 372.47 H930896 sand <0.005 0.2 0.47 <2 <10 50 <0.5 <2 0.05PD-10-01 372.47 372.93 H930897 Conglomerate unit 0.012 0.4 0.43 <2 <10 20 <0.5 9 0.46PD-10-01 372.93 373.16 H930898 Conglomerate unit 0.011 0.4 0.37 <2 <10 30 <0.5 2 0.58PD-10-01 373.16 373.68 H930899 sand 0.006 <0.2 0.37 <2 <10 40 <0.5 <2 0.03PD-10-01 373.68 374.83 H930900 sand <0.005 0.2 0.9 <2 <10 50 <0.5 <2 0.2PD-10-01 374.83 375.28 H930901 basement <0.005 0.3 2.04 <2 <10 60 <0.5 <2 0.26PD-10-01 375.28 376.34 H930902 basement <0.005 <0.2 2.22 <2 <10 50 <0.5 <2 0.29

Page 2 of 10

2. Samples taken from drillhole PD-10-01HoleID From To SampNo SampDescPD-10-01 152.24 152.65 H930903 Conglomerate layerPD-10-01 154.06 154.21 H930904 Conglomerate layerPD-10-01 155.07 155.3 H930905 Conglomerate layerPD-10-01 158.95 159.63 H930908 Conglomerate layerPD-10-01 344.3 345.34 H930854 Lower portion of fines layerPD-10-01 345.34 346.38 H930855 Lower portion of fines layerPD-10-01 346.38 347.23 H930856 Conglomerate unitPD-10-01 347.23 348.27 H930857 Conglomerate unitPD-10-01 348.27 349.3 H930858 Conglomerate unitPD-10-01 349.3 349.81 H930859 Conglomerate unitPD-10-01 349.81 350.81 H930860 Conglomerate unitPD-10-01 350.81 351.78 H930861 sandPD-10-01 351.78 352.56 H930862 sandPD-10-01 352.56 352.95 H930865 mudstonePD-10-01 352.95 353.42 H930866 Conglomerate unitPD-10-01 353.42 354.04 H930867 mudstonePD-10-01 354.04 354.48 H930868 Conglomerate unitPD-10-01 354.48 355 H930869 Conglomerate unitPD-10-01 355 355.19 H930870 mudstonePD-10-01 355.19 356.83 H930871 Conglomerate unitPD-10-01 356.83 357.48 H930872 Conglomerate unitPD-10-01 357.48 357.83 H930873 Conglomerate unitPD-10-01 357.83 358.31 H930876 Conglomerate unitPD-10-01 358.31 358.92 H930877 Conglomerate unitPD-10-01 358.83 359.8 H930878 Conglomerate unitPD-10-01 359.8 361 H930879 sandPD-10-01 361 361.79 H930880 sandPD-10-01 361.79 362.91 H930881 sandPD-10-01 362.91 363.92 H930882 Conglomerate unitPD-10-01 363.92 364.67 H930883 Conglomerate unitPD-10-01 364.67 365.14 H930884 Conglomerate unitPD-10-01 365.14 365.91 H930887 sandPD-10-01 365.91 366.4 H930888 Conglomerate unitPD-10-01 366.4 366.93 H930889 Conglomerate unitPD-10-01 366.93 367.94 H930890 sand

Cd_ppm Co_ppm Cr_ppm Cu_ppm Fe_pc Ga_ppm Hg_ppm K_pc<0.5 18 40 27 1.99 <10 <1 0.650.8 23 22 33 1.99 <10 <1 0.52<0.5 19 56 26 1.81 <10 <1 0.51<0.5 15 20 42 1.56 <10 <1 0.5<0.5 14 60 33 2.53 <10 <1 0.22<0.5 29 59 38 3.45 10 1 0.35<0.5 13 44 54 1.68 <10 <1 0.22<0.5 22 30 65 1.81 <10 <1 0.26<0.5 12 17 24 0.85 <10 <1 0.13<0.5 17 19 23 1.43 <10 <1 0.28<0.5 22 15 75 1.82 <10 <1 0.2<0.5 14 17 39 1.44 <10 <1 0.33<0.5 17 27 36 2.28 <10 <1 0.4<0.5 19 37 36 2.85 <10 1 0.23<0.5 67 53 139 5.8 <10 <1 0.28<0.5 20 55 62 3.81 10 <1 0.51<0.5 75 33 508 7.65 <10 <1 0.28<0.5 129 33 184 8.91 <10 <1 0.22<0.5 11 35 46 3.14 <10 1 0.44<0.5 39 22 80 3.34 <10 <1 0.16<0.5 52 22 96 4.3 <10 <1 0.22<0.5 175 37 131 11.7 <10 <1 0.21<0.5 94 27 93 5.8 <10 <1 0.25<0.5 34 24 68 2.84 <10 <1 0.26<0.5 18 23 36 1.64 <10 <1 0.22<0.5 19 18 37 1.39 <10 <1 0.22<0.5 30 30 32 1.95 <10 <1 0.56<0.5 8 19 12 1.08 <10 <1 0.36<0.5 53 37 103 4.27 <10 <1 0.74<0.5 21 31 40 2.72 <10 1 0.75<0.5 24 25 56 2.41 <10 <1 0.46<0.5 9 14 31 1.35 <10 <1 0.43<0.5 30 15 54 2.69 <10 <1 0.27<0.5 55 14 48 3.44 <10 <1 0.2<0.5 9 10 18 0.8 <10 <1 0.29

Page 3 of 10

HoleID From To SampNo SampDescPD-10-01 367.94 368.74 H930891 sandPD-10-01 368.74 369.75 H930892 sandPD-10-01 369.75 370.66 H930893 sandPD-10-01 370.66 370.98 H930894 matrix supported conglomeratePD-10-01 370.98 371.74 H930895 matrix supported conglomeratePD-10-01 371.74 372.47 H930896 sandPD-10-01 372.47 372.93 H930897 Conglomerate unitPD-10-01 372.93 373.16 H930898 Conglomerate unitPD-10-01 373.16 373.68 H930899 sandPD-10-01 373.68 374.83 H930900 sandPD-10-01 374.83 375.28 H930901 basementPD-10-01 375.28 376.34 H930902 basement

Cd_ppm Co_ppm Cr_ppm Cu_ppm Fe_pc Ga_ppm Hg_ppm K_pc<0.5 11 13 34 1.13 <10 <1 0.3<0.5 17 13 41 1.53 <10 <1 0.26<0.5 7 11 20 0.88 <10 <1 0.29<0.5 28 11 48 1.78 <10 <1 0.28<0.5 17 10 52 1.39 <10 <1 0.310.8 7 11 30 0.99 <10 <1 0.321 52 11 279 3.34 <10 <1 0.221.1 54 10 251 3.19 <10 1 0.24<0.5 7 8 28 0.72 <10 <1 0.3<0.5 14 19 24 1.34 <10 <1 0.43<0.5 32 50 24 3.27 <10 <1 0.5<0.5 22 74 25 3.6 10 <1 0.53

Page 4 of 10


La_ppm Mg_pc Mn_pc Mo_ppm Na_pc Ni_ppm P_ppm Pb_ppm S_pc10 0.4 68 1 0.01 43 350 13 0.4910 0.35 98 1 0.01 50 500 24 0.7710 0.37 96 6 0.01 41 270 22 0.6410 0.39 88 <1 0.01 91 310 4 0.2510 0.91 292 1 0.04 46 170 6 0.2230 1.42 436 1 0.01 84 530 3 0.3810 0.52 126 1 0.03 32 100 6 0.2510 0.28 121 2 0.02 39 110 17 0.6910 0.1 67 1 0.02 15 40 20 0.4610 0.16 86 2 0.01 27 30 6 0.7510 0.17 41 1 <0.01 34 40 6 0.8810 0.21 95 1 <0.01 28 40 3 0.4920 0.69 166 1 <0.01 58 130 3 0.5140 1.11 250 2 <0.01 63 590 3 0.4710 0.9 262 1 <0.01 157 160 4 2.4930 1.41 234 2 <0.01 74 730 <2 0.7110 0.42 92 10 0.01 136 80 4 4.5120 0.3 58 3 <0.01 131 70 14 9.830 0.75 130 2 <0.01 49 120 4 1.1110 0.19 48 1 <0.01 51 30 6 2.8110 0.19 56 2 <0.01 62 40 13 4.1610 0.22 55 2 <0.01 176 60 30 >10.010 0.24 58 3 <0.01 124 60 16 6.210 0.22 78 2 <0.01 47 40 7 2.1210 0.13 38 1 <0.01 29 40 4 1.0610 0.06 41 1 <0.01 27 60 5 0.9130 0.42 98 1 <0.01 58 60 3 0.710 0.19 75 1 <0.01 20 40 3 0.2320 0.57 128 1 <0.01 83 210 22 1.7310 0.56 139 1 <0.01 53 190 5 0.7210 0.35 93 1 <0.01 44 60 <2 0.9420 0.26 77 1 <0.01 49 100 2 0.3120 0.14 72 3 <0.01 63 80 20 210 0.11 34 1 0.01 66 70 41 3.3420 0.05 40 1 <0.01 18 80 7 0.35

Page 5 of 10


La_ppm Mg_pc Mn_pc Mo_ppm Na_pc Ni_ppm P_ppm Pb_ppm S_pc20 0.13 37 1 <0.01 32 90 12 0.5210 0.14 60 1 <0.01 28 80 18 0.8320 0.15 33 1 0.01 17 90 9 0.3140 0.19 46 2 0.01 43 190 14 1.0630 0.08 21 1 <0.01 35 120 9 0.8330 0.11 46 1 <0.01 23 80 4 0.3330 0.17 90 5 0.01 67 100 25 3.0720 0.1 126 5 0.01 68 100 14 2.9820 0.05 20 1 <0.01 21 90 2 0.3130 0.36 110 1 0.01 45 220 4 0.2420 1.19 238 2 0.01 99 920 3 0.3530 1.3 290 1 <0.01 89 1050 2 0.24

Page 6 of 10


Sb_ppm Sc_ppm Sr_ppm Th_ppm Ti_pc Tl_ppm U_ppm V_ppm W_ppm<2 1 8 <20 0.07 <10 10 10 <10<2 1 15 <20 0.04 <10 10 8 <10<2 1 11 <20 0.05 <10 10 7 <10<2 1 13 <20 0.05 <10 <10 9 <10<2 2 15 <20 0.04 <10 <10 30 <10<2 2 14 <20 0.03 <10 <10 23 <10<2 1 4 <20 0.04 <10 <10 18 <10<2 1 5 <20 0.03 <10 <10 9 <10<2 <1 4 <20 0.01 <10 <10 3 <10<2 <1 3 <20 0.02 <10 <10 4 <10<2 <1 2 <20 0.02 <10 <10 4 <10<2 <1 4 <20 0.02 <10 <10 4 <10<2 1 4 <20 0.03 <10 <10 10 <10<2 1 10 <20 0.01 <10 <10 14 <10<2 1 5 <20 0.03 <10 <10 19 <10<2 2 8 <20 0.04 <10 <10 24 <10<2 1 3 <20 0.02 <10 <10 13 <102 1 2 <20 0.01 <10 10 11 <10<2 2 4 <20 0.01 <10 <10 16 <10<2 1 2 <20 0.01 <10 <10 6 <10<2 1 2 <20 0.02 <10 <10 8 <102 1 2 <20 0.02 <10 20 9 <10<2 1 4 <20 0.03 <10 10 8 <10<2 1 3 <20 0.03 <10 10 6 <10<2 1 2 <20 0.02 <10 <10 4 <10<2 <1 3 <20 0.01 <10 <10 2 <10<2 1 2 <20 0.07 <10 <10 12 <10<2 1 2 <20 0.03 <10 <10 6 <10<2 2 3 <20 0.09 <10 <10 23 <10<2 1 3 <20 0.1 <10 <10 17 <10<2 1 2 <20 0.05 <10 <10 10 <10<2 1 5 <20 0.02 <10 <10 6 <10<2 1 4 <20 0.01 <10 30 3 <10<2 1 4 <20 0.01 <10 40 2 <10<2 <1 3 <20 <0.01 <10 <10 1 <10

Page 7 of 10


Sb_ppm Sc_ppm Sr_ppm Th_ppm Ti_pc Tl_ppm U_ppm V_ppm W_ppm<2 <1 3 <20 0.01 <10 <10 3 <10<2 <1 3 <20 <0.01 <10 <10 2 <10<2 <1 4 <20 <0.01 <10 <10 2 <10<2 1 6 20 <0.01 <10 20 2 <10<2 <1 4 <20 <0.01 <10 10 2 <10<2 <1 4 <20 <0.01 <10 <10 3 <10<2 1 5 <20 <0.01 <10 10 2 <10<2 1 5 <20 <0.01 <10 <10 2 <10<2 <1 3 <20 <0.01 <10 <10 2 <10<2 1 5 <20 0.01 <10 <10 6 <10<2 2 11 <20 0.03 <10 <10 18 <10<2 2 8 <20 0.03 <10 <10 20 <10

Page 8 of 10


Zn_ppm652054511466630124671641453348131026778875820724402022447

Page 9 of 10


Zn_ppm131753631415721920775949281

Page 10 of 10

3. Dow

n hole surveys of drillhole PD-10-01

HoleID

ToA

zimuth

Dip

PD

-10-01114

284.3-88.5

PD

-10-01165

291.3-88.2

PD

-10-01216

292.488.2

PD

-10-01267

292.2-87.9

PD

-10-01318

297.9-86.1

PD

-10-01369

308.0-86.0

(

A Project: PARDO

P.O. No.:

ALS Chemex EXCELLENCE IN ANALYTICAL CHEMISTRY ALS Canada Lid

2103 Dollarton Hwy North Vancouver BC V7H OA7 Phone· 604 984 0221 Fax 604 984 0218 WWIN.alschemex.com

CERTIFICATE SD1 0093503

This report is for 55 Drill Core samples submitted to our lab in Sudbury, ON, Canada on 9-JUL-2010.

The following have access to data associated with this certificate: RICHARD MURPHY I JNT LOGANIGINGURO WEBTRI I ERIC YANG

To: GINGURO EXPLORATION INC. ATTN: ERIC YANG 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 555

ro· GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 5S5

Page: 1 Finalized Date: 15-JUL-2010

Account: GINEXP

SAMPLE PREPARATION ALS CODE DESCRIPTION

WEI-21 Received Sample Weight

LOG-2.2 Sample login - Red w/o BarCode

LOG-23 Pulp Login - Rcvd with Barcode

CRU-QC Crushing QC Test

PUL-QC Pulverizing QC Test

CRU-31 Fine crushing - 70% <2mm

SPL-21 Split sample - riffle splitter

PUL-31 Pulverize split to 85% <75 um

ANALYTICAL PROCEDURES ALSCODE DESCRIPTION INSTRUMENT

ME-ICP41 35 Element Aqua Regia ICP-AES ICP-AES

Au-AA23 Au 30g F A-AA finish AAS

This is the Final Report and supersedes any preliminary report with this certrr.cate number. Results apply to samples as submitted. All pages of this report have been checked and approved for release. Signature: ~--

Colin Ramshaw, Vancouver Laboratory Manager

Me tho" AAoalyte

Unlla Sample Description LOll

H930854 H930855 H930856 H930857 H930858

H930859 H930860 H930861 H930862 H930863

H930864 H930865 H930866 H930867

H930868

H930869 H930870 H930871 H930872 H930873

H930874 H930875 H930876 H930877 H930878

H930879 H930880 H930881 H930882 H930883

H930884 H930885 H930886 H930887

H930888

H930889 H930890 H930691 H930892 H930893


2103 Oollarton Hwy Nonh Vancouver BC V7H OA7 Phone: 604 984 0221 Fax: 604 984 0218 www.alschemex.com

WEI-21 Au-AA23 ME-tCP41 ME-ICP41 ME-ICP41 ME~CP41

Recvd Wt. Au Ag AI As B kg ppm ppm % ppm ppm

002 0005 02 0 01 2 10

2.53 0.005 0 .3 1.38 2 < 10

2.32 "'0.005 <0.2 2.06 4 <10 2.33 0. 122 <0.2 0.80 <2 <10 2.04 0.007 <0.2 0.50 <2 <10

1 96 0.007 0.3 0.22 3 <10

1.14 0.020 0.2 0.40 6 <10 2.27 2.31 <0.2 0.29 <2 <10 2. 13 <0.005 c:0.2 0.48 <2 <10 1.96 0.005 <0.2 1.13 <2 <10 1 55 0.009 0.2 1.68 27 <10

0.02 2.31 1.5 1.55 17 <10 0.84 0.006 <0.2 1.54 <:2 < 10 1.06 0.009 0.2 1.36 <2 <10 1.46 0.006 0.2 2.15 <2 <10 1.04 0.028 <0.2 0.72 11 <10

1.21 0.229 0.5 0.58 72 <10

0.42 0.017 <0.2 1.43 4 <10 3.53 0.085 0 .2 0.40 22 <1 0 1.36 0.134 <0.2 0.46 40 <10 0.81 0.637 1.2 0 .50 151 <:10

0.77 0.015 0.2 1.56 18 <10 <0.02 1.800 1.7 1.50 23 10 0.97 0.271 0 .4 0.50 62 <1 0 1.33 0.104 0.2 0.43 21 <10

2.10 0 024 <0.2 0.34 6 <10

2.64 0.018 <0.2 0.31 8 <10 1.81 0.015 0.2 0.65 G <10

2.47 0 .005 <0.2 0.57 <2 <10 2.18 0 .020 0.5 1.13 <2 <10 1.64 0 .007 <0.2 1. 12 <:2 <1 0

1.34 0 .010 <0.2 0.76 <2 <10 0.73 0.013 0.2 1.66 22 <10

<:0.02 1.550 1.9 1.39 22 20 1,58 0.005 0.3 0.68 <2 <10 1.00 0.020 0.3 0.45 3 <10

1.04 0 .034 0 7 0.34 17 <10 2.17 0 .007 0.2 0.38 <2 <10 2.10 0.007 0 2 0.48 <2 < 10 2.23 0.01 1 0.4 0.47 <2 <1 0 2.02 0.007 0.3 0.45 <2 <10

ro GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 555

Project: PARDO

Page: 2- A Total# Pages: 3 (A- C)

Finalized Date: 15-JUL-2010 Account: GINEXP

CERTIFICATE OF ANALYSIS 5010093503

ME·ICP41 ME·ICP41 ME-ICP41 ME·ICP41 ME-lCP4 1 ME-ICP41 ME-ICP41 ME-ICP41 ME-ICP41 Ba Be Bl Ca Cd Co Cr Cu Fe

ppm ppm ppm "' ppm ppm ppm ppm ,. 10 05 2 001 0.5 1 1 1 001

20 <0.5 <2 0.61 <0.5 '14 60 33 2.53 50 <0.5 <2 0.53 <0.5 29 59 38 3.45 20 <0.5 <2 0.13 <0.5 13 44 54 1.68 30 <0.5 <2 0.15 <0.5 22 30 65 1.81 20 <0.5 <2 0. 11 <0.5 12 17 24 0.85

40 <0.5 <2 0.09 <0.5 17 19 23 1.43 10 <0.5 <2 0.07 <0.5 22 15 75 1.82 40 <0.5 <2 0.09 <0.5 14 17 39 1.44 40 <0.5 <2 0.10 <0.5 17 27 36 2.28 10 <0.5 <2 1.30 <0.5 24 47 105 1.53

30 1.5 <2 3.43 <0.5 410 103 4460 14.00 30 <0.5 <2 0.25 <0.5 19 37 36 2.85 30 <0.5 2 0.18 <0.5 67 53 139 5.80 80 <0.5 <2 0.26 <0.5 20 55 62 3.81

20 <0. 5 2 0.08 <0.5 75 33 508 7.65

20 <0.5 9 0.07 <0.5 129 33 184 8.91 60 <0.5 <2 0.04 <0.5 11 35 46 3.14 10 c:O.S <2 0 02 <0.5 39 22 80 3.34 20 <0.5 3 0 .02 <0.5 52 22 96 4.30 20 <0.5 11 0 02 c:o.s 175 37 131 11.70

10 <:0.5 <2 1.06 <0.5 21 48 106 1.77 20 1.3 15 3.08 <0.5 593 95 6650 21.3 20 <0.5 5 0 .04 <0.5 94 27 93 5.80

10 <0.5 <2 0.05 <0.5 34 24 68 2.84 10 <0.5 <2 0.02 <;0.5 18 23 36 1 64

20 <0.5 <2 0.02 <0.5 19 18 37 1.39 40 <0.5 <2 0.06 <0.5 30 30 32 1.95 30 <0.5 <2 0.02 <0.5 8 19 12 1.08 40 <0.5 2 0.08 <0.5 53 37 103 4.27 40 <0.5 <2 O.OG <0.5 21 31 40 2.72

30 <0.5 <2 0.03 <0.5 24 25 56 2.41 10 <0.5 <2 1.35 0.5 22 44 95 1.52

20 1.1 <2 2.80 <0.5 687 65 7620 24.0 40 <0.5 <2 0.12 <0.5 9 14 31 1.35 30 <0.5 2 0.10 <0.5 30 15 54 2.69

20 <0.5 7 0.03 <0.5 55 14 48 3.44 40 <0.5 <2 0.05 <0.5 9 10 18 0.80 40 <0.5 2 0.04 <0.5 11 13 34 1.13 40 <0.5 3 0.05 <0.5 17 13 41 1.53 40 <0.5 2 0.06 <0.5 7 11 20 0.88

... , ... ., h•lyt• U•lte

Sample Description LOll

H930854 H930855 H930856 H930857 H930858

H930859 H930860 H930861 H9308G2 H930863

H930864 H930865 H930866 H930867 H930868

H930869 H930870 H930871 H930872 H930873

H930874 H930875 H930876 H930877 H930878

H930879 H930880 H930881 H930882 H930883

H930884 H930885 H930886 H930887 H930888

H930889 H930890 H930891 H930892 H930893

ALS Chemex EXCELLENCE IN ANALYTICAL CHEMISTRY ALSCanaclaltd

2103 Dollarton Hwy North Vancou11er BC V7H OA7 Phone 604 984 0221 Fax. 604 984 0218 ........w.~.alschemex.com

ME~CP4 1 ME-ICP41 ME~CP41 ME·ICP41 ME·ICP41 ME-ICP41 Ga H9 K La Mg Mn ppm ppm % ppm ,. ppm 10 1 001 10 001 5

<10 <1 0.22 10 0.91 292 10 1 0.35 30 1.42 436

<10 <1 0 22 10 0.52 126 <10 <1 0.26 10 0.28 121 <10 <1 0.13 10 0.10 67

<10 <1 0.28 10 0.16 86 < 10 <1 0 20 10 0.17 41 <10 <1 0.33 10 0.21 95 <10 <1 OAO 20 0.69 166 <10 <1 0.12 <10 0 96 295

<10 1 0.61 20 1.79 768 <10 1 0.23 40 1.11 250 <10 <1 0.28 10 0.90 262 10 <1 0,51 30 1.41 234

<1 0 <1 0.28 10 0.42 92

<10 <1 0.22 20 0 30 58 <10 1 0.44 30 0.75 130 <10 <1 0. 16 10 0. 19 48 <10 <1 0.2.2 10 0.19 56 <10 <1 0.21 10 0.22 55

<10 1 0.10 <10 1.08 340 <10 <1 0.53 20 1.49 685 <10 <1 0.25 10 0.24 58 <1 0 <1 0.26 10 0.22 78 <10 <1 0.22 10 0 13 38

<10 <1 0.22 10 0.06 41 <10 <1 0.56 30 0.42 98 <10 <1 0.36 10 0. 19 75 <10 <1 0.74 20 0.57 128 <10 1 0.75 10 0.58 139

<10 <1 0.46 10 0.35 93 < tO <1 0.13 <10 0.93 293 <10 <1 0.44 10 1.28 619 <10 <1 0.43 20 0.26 77 <'10 <1 0 27 20 0.14 72

<10 <1 0.20 10 0. 11 34 <10 <1 0.29 20 0.05 40 <10 <1 0.30 20 0. 13 37 < 10 <1 0.26 10 0. 14 60 <1 0 <1 0.29 20 0.15 33

To: GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 5S5

Project: PARDO

Page: 2- B Total# Pages : 3 (A- C)


CERTIFICATE OF ANALYSIS SD1 0093503

ME-ICP41 ME~CP41 ME-ICP41 ME-ICP~1 ME~CP4 1 ME~CP41 ME~CP41 ME-ICP41 ME·ICPt.1 Mo Na Nt p Pb s Sb Sc Sr

ppm ,. ppm ppm ppm % ppm ppm ppm 1 001 1 10 2 001 2 1 1

1 0.04 46 170 6 0.22 <2 2 15 1 0.01 84 530 3 0.38 <2 2 14 1 0.03 32 100 6 0.25 <2 1 4 2 0.02 39 110 17 0.69 <2 1 5 1 0.02 15 40 20 0.46 <2 <1 4

2 0.01 27 30 6 0.75 <2 < 1 3 1 <0.01 34 40 G 0.88 <2 <1 2 1 <0.01 28 40 3 0.49 <2 <1 4 1 <0.01 58 130 3 0.51 <2 1 4

<1 0.09 so 190 24 0.05 <2 2 30

9 0.04 8030 1690 14 5.65 3 8 834 2 <0.01 63 590 3 0.47 <2 1 10 1 <0.01 157 160 4 2.49 <2 1 5 2 <0.01 74 730 <2 0.71 <2 2 8 10 0.01 136 80 4 4.51 <2 1 3

3 <0.01 131 70 14 9.8 2 1 2 2 <0.01 49 120 4 1.11 <2 2 4 1 <0.01 51 30 6 2.81 <2 1 2 2 <0.01 62 40 13 4,16 <2 1 2 2 <0.01 176 60 30 >10.0 2 1 2

<1 0.07 50 190 13 0.10 <:2 2 26 8 0.04 >10000 1450 14 6.8 3 7 712 3 <0.01 124 60 16 6.2 <:2 1 4 2 <0.01 47 40 7 2.12 <2 1 3 1 <0.01 29 40 4 1.06 <2 1 2

1 <0.01 27 60 5 0.91 <2 <1 3 1 <0.01 58 60 3 0.70 <2 1 2 1 <0.01 20 40 3 0.23 <2 1 2 1 <0.01 83 210 22 1.73 <2 2 3

1 <0.01 53 190 5 0.72 <2 1 3

1 <0.01 44 60 <2 0.94 <2 1 2 <1 0.07 47 200 39 0.06 <2 2 30 6 0.03 >10000 1250 13 8.0 5 6 599 1 <0.01 49 100 2 0.31 <2 1 5 3 <0.01 63 80 20 2.00 <2 1 4

1 0.01 66 70 41 334 <2 1 4 1 <0.01 18 80 7 0.35 <2 <1 3 1 <0.01 32 90 12 0.52 <2 <1 3 1 <0.01 28 80 18 0.83 <2 <1 3 1 0 01 17 90 9 0,31 <2 <1 4

Molllo~

Aaolyto U•llta


H930854 H930855 H930856 H930857 H930858

H930859 H930860 H930861 H930862 H930863

H930864 H930865 H930866 H930867 H930868

H930869 H930870 H930871 H930872 H930873

H930874 H930875 H930876 H930877 H930878

H930879 H930880 H930881 H930882 H930883

H930884 H930885 H930886 H930887 H930888

H930889 H930890 H930891 H930892 H930893


2103 Dollarton Hwy North Vancouver BC V7H OA7 Phone. 604 984 0221 Fax 604 984 0218 www.alschemex.com

ME-ICP4 1 ME~CP41 ME-ICP41 ME-ICP41 ME-ICP41 ME·ICP41 Th n Tl u v w

ppm % ppm ppm ppm ppm 20 001 10 10 1 10

<20 0.04 <10 <10 30 <10 <20 0.03 <10 <10 23 <10

<20 0.04 <10 <10 18 <10 <20 0.03 <10 <10 9 <10 <20 0.01 <10 <10 3 <10

<20 0.02 <10 <10 4 <10 <20 0.02 <10 <10 4 <10 <20 0.02 <10 <10 4 <10 <20 0.03 <10 <10 10 <10 <20 0.13 <10 <10 36 <10

<20 0.12 <10 <10 114 <10 <20 0.01 <10 <10 14 <10 <20 0.03 <10 <10 19 <10 <20 0.04 <10 <10 24 <10 <20 0.02 <10 <10 13 <10

<20 0.01 <10 10 11 <10 <20 0.01 <10 <10 16 <10

<20 0.01 <10 <10 6 <10 <20 0.02 <10 <10 8 <10 <20 0.02 <10 20 9 <10

<20 0.15 <10 <10 39 <10 <20 0.12 <10 <10 117 <10 <20 0.03 <10 10 8 <10 <20 0.03 <10 10 6 <10 <20 0.02 <'10 <10 4 <10

<20 0.01 <10 <10 2 <10 <20 0.07 <10 <10 12 <10 <20 0.03 <10 <10 6 <10 <20 0.09 <10 <10 23 <10 <20 0.10 <10 <10 17 <10

<20 0.05 <10 <10 10 <10 <20 0. 15 <10 <10 37 < 10 <20 0.11 <10 <10 11 2 <10

<20 0.02 <10 <10 6 <10 <20 O.D1 <10 30 3 <10

<20 0.01 <10 40 2 <10 <20 <0.01 <10 <10 1 <10 <20 0.01 <10 <10 3 <10 <20 <0.01 <10 <10 2 <10 <20 <0.01 <10 <10 2 <10

fo: GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 5S5

Project: PARDO

Page: 2 - C Total# Pages: 3 (A- C)



ME~CP41

Zn ppm

2

46 66 30 12

4

6 7 16 41 27

82 45 33 48 13

10 26 7 7 8

25 90 8 7 5

8 20 7

24 40

20 43 89 22 4

4 7 13 17 53

Me the• Aftalrt• u .. , ..


H930894

H930895

H930896 H930897

H930898

H930899

H930900 H930901

H930902

1-1930903

H930904 H930905

H930906

H930907 H930908


2103 Dollarton Hwy North Vancouver BC V7H OA7 Phone 604 984 0221 Fax: 604 984 0218 www.alschemex.com

'NEI·21 Au-AA23 ME-ICP41 ME·ICP41 ME-ICP41 ME-ICP41

Rec'Jd WI. Au Ag AI As B ~g ppm ppm % ppm ppm

0.02 0 005 02 001 2 10

1.03 0.011 0.4 0.49 4 <10 1.54 0.008 0.3 0.42 <2 <10 1.46 <0 .005 0.2 0.47 <2 < 10

0.99 0.012 0.4 0.43 <2 <10

0.43 0.011 0.4 0.37 <.2 <10

1.11 0.006 <0.2 0.37 <2 <10

2.31 <0.005 0.2 0.90 <2 <: 10

1.24 <0.005 0.3 2.04 <2 <10 2.14 <0.005 <0.2 2.22 <2 <10 , 06 1.570 0.2 0.93 10 <10

0 74 0.827 0.3 0.77 <2 < 10

0 .56 0.287 0.3 0 .79 <2 <10

1.58 0.008 0.2 1.71 21 <10 <0.02 2.08 1.8 1 32 20 20

1.46 0.071 <0.2 0.71 7 <10

fo: GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 5S5

Project: PARDO

Page: 3- A Total# Pages: 3 (A- C)


CERTIFICATE OF ANALYSIS SD1 0093503

ME-ICP41 ME-ICP41 ME~CP41 ME~CP41 ME·ICP41 ME~CP41 ME·ICP41 ME·ICP41 ME-ICP41 Ba Be Bl Ca Cd Co Cr Cu Fe

ppm ppm ppm % ppm ppm ppm ppm o/o

10 0.5 2 001 05 1 1 1 001

40 <0.5 5 0.06 <0.5 28 '11 48 1.78 40 <0.5 3 0.03 <0.5 17 10 52 1.39 50 <0.5 <2 0.05 0.8 7 11 30 0.99 20 <0.5 9 0.46 1.0 52 11 279 3.34 30 <:0.5 2 0.58 1.1 54 '10 251 3.19

40 <0 .5 <2 0.03 <0.5 7 8 28 0.72 50 <0.5 <2 0.20 <0.5 14 19 24 1.34 60 <0.5 <2 0.26 <0.5 32 50 24 3.27 50 <0.5 <2 0.29 <0.5 22 7 4 25 3.60 30 <0.5 <2 0.14 <0.5 18 40 27 1.99

30 <0.5 <2 0.31 0.8 23 22 33 1.99 20 <0.5 <2 0 .17 <0.5 19 56 26 1.81 20 <0.5 <2 1.21 0.5 25 46 133 1.67 40 1 0 <2 2.64 <0.5 690 81 7660 25.5 40 <0.5 <2 0.25 <0.5 15 20 42 1.56

Met-•• Analyt•

Uolta Sample Description LOll

H930894 H930895 H930896 H930897 H930898

H930899 H930900 H930901 H930902 H930903

H930904 H930905 H930906 H930907 H930908


21 03 Oollarton Hwy North Vancouver BC V7H OA7 Phone· 604 964 0221 Fax: 604 984 0218 www.alschemex.com

ME-ICP41 ME-lCP41 ME-lCP41 ME-ICP41 ME-ICP41 ME-ICP41 Ga Hg K La Mg Mn

ppm ppm "' ppm 'II> ppm

10 1 0 01 10 0 01 5

< 10 <1 0.28 40 0. 19 46

< 10 <1 0.31 30 0.08 21 <10 <1 0.32 30 0.11 46

<1 0 <:1 0.22 30 0.17 90 < 10 1 0.24 20 0.10 126

< 10 <1 0.30 20 0.05 20 <10 <1 0.43 30 0 .36 110

< 10 <:1 0.50 20 1.1 9 238 10 <1 0 .53 30 1.30 290

< 10 <1 0.65 10 0.40 68

< 10 <1 0.52 10 0.35 98

< 10 <1 0.5 1 10 0 37 96 <1 0 <1 0.12 <10 1.03 310 <1 0 1 0.39 10 1.18 593

<10 <1 0 .50 10 0 .39 88

To GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 555

Project: PARDO

Page: 3- B Total# Pages: 3 (A- C)



ME-ICP41 ME·ICP41 ME-ICP41 ME-ICP41 ME-lCP41 ME-ICP41 ME·ICP41 ME-ICP41 ME-ICP41 Mo Na No p Pb s Sb Sc Sr

ppm % ppm ppm ppm % ppm ppm ppm 1 0 01 1 10 2 001 2 1 1

2 0 01 43 190 14 1.06 <2 1 6 1 <0.01 35 120 9 0.83 <2 <1 4 1 <0.01 23 80 4 0.33 <:2 <: 1 4

5 0.01 67 100 25 3.07 <2 1 5 5 0.01 68 100 14 2.98 <2 1 5

1 <0.01 21 90 2 0.31 <2 <1 3 1 0.01 45 220 4 0.24 <2 1 s 2 0.01 99 920 3 0.35 <2 2 11 1 <0.01 89 1050 2 0.24 <2 2 8 1 0 .01 43 350 13 0.49 <2 1 8

1 0.01 50 500 24 0.77 <2 1 15 6 0 .01 41 270 22 0 .64 <2 1 11

<1 0 .11 54 190 32 0.06 <2 2 32 6 0.04 > 10000 11 50 20 8.2 8 6 542

<1 0.01 91 310 4 0.25 <2 1 13

MetltiHII

Aloelyt• u .....


H930894

H930895

H930896 H930897

H930898

H930899 H930900

H930901

H930902 HS30903

H930904

H930905

H930906 H930907

H930908

ALS Chemex EXCELLENCE IN ANALYTICAL CHEMISTRY ALS Canada Ltd

2103 Dollarton Hwy North Vancouver BC V7H OA7

Phone 604 984 0221 Fax: 604 984 021 8 w.vw.alschemex.com

ME-ICP41 ME·ICP41 ME-ICP41 ME-ICP41 ME-ICP41 ME-ICP41

Th Ti Tl u v w ppm " ppm ppm ppm ppm 20 001 10 10 I 10

20 <0 .01 <10 20 2 <10

<20 <0.01 <10 10 2 <10

<20 <0.01 <10 <10 3 <10

<20 <0.01 <1 0 10 2 <10

<20 <0.01 <10 <10 2 <10

<20 <0.01 <1 0 <10 2 <10 <20 O.Q1 <10 <10 6 <1 0 <20 0.03 <10 <10 18 <10 <20 0.03 <10 <10 20 <10

<20 0.07 < 10 10 10 <10

<20 0.04 <10 10 8 <10 <20 0.05 < 10 10 7 <10

<20 0.12 <10 <10 38 <10 <20 0. 10 <10 <10 109 <10 <20 0.05 <10 <10 9 <1 0

To: GINGURO EXPLORATION INC. 101-957 CAMBRIAN HEIGHTS DRIVE SUDBURY ON P3C 5S5

Project' PARDO

CERTIFICATE OF ANALYSIS

ME-ICP41

Zn ppm

2

63 14

157

219

207

75 94

92

81 65

205

45

36 94

11

Page: 3 • C Total# Pages: 3 (A- C)


5010093503

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!.

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!.

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3011999

4217748

30119833011984

4217750

4217749

PARDOMCNISH

3011999

42523464217748

30119833011984

4217750

553250

553250

553500

553500

553750

553750

554000

554000

554250

554250

554500

554500

554750

554750

555000

555000

555250

555250

555500

555500

555750

555750

556000

556000

556250

556250

556500

556500

556750

556750

5177

500

5177

500

5177

750

5177

750

5178

000

5178

000

5178

250

5178

250

5178

500

5178

500

5178

750

5178

750

5179

000

5179

000

5179

250

5179

250

5179

500

5179

500

Legend!. Proposed holes_July 10-2010.csv Events

Ginguro_cut_line_2010ornelem_Project_Areas_2010mnrrdseg_Project_Areas_2010SECTION LINESSTRUCTURE CONTOURSFAULTSDIABASE DYKESUPPER MISSISSAGI SANDSTONESGRITSTONEUNIT 3 - UPPER CONGLOMERATEUNIT 2 - SANDSTONEUNIT 1 - LOWER CONGLOMERATEBASEMENTReconn_StructuresDiabase, Diabase, NipissingSandstone, MississagiConglomerate, GowgandaConglomerate, MississagiGranite, Psammite, Archean Basement

Rev250kpolyNipissing Diabase SillsCobalt Group: Gowganda FormationHough Lake GroupMetasediments

0 0.3 0.6 0.9 1.20.15Kilometers

®

Geological Map of the Pardo Project1:2,500

Ginguro Exploration Inc.Pardo Reef Project

Sudbury Minining DistrictMap 1

UTM_NAD83_Zone 17NPD-10-01

#

#

!.

!.!. !.

!. !. !.

!. !.

!. !. !. !. !. !. !. !. !. !.

!.!. !.

!. !. !. !. !. !. !. !. !. !. !. !.

!. !. !. !. !. !. !. !. !. !. !. !.

!. !. !. !. !. !. !. !. !. !. !. !. !.

!. !. !. !. !. !. !. !. !. !. !. !.

!. !. !. !. !. !. !.

!. !. !. !.

Southern Occurrence

Northern Occurrence

1234842

3011984

4217738 4217737

4250765

3011983

42177354217734 4217736

4250762

4217750

4217751

4217732 42177314217733

3011999

3011982

4202511

30094404202510

4202512

4202514

4202513

3009441

1234841

4217729 42177304217749 4217748

4211782 42012914201292

4217739

4251770

4250790

4250786

4250764 4250761 4250784

PARDOMCNISH

CLEMENTMACBETH

1234842

3011984

4217738 4217737

4250765

3011983

42177354217734 4217736

4250762

4217750

4217751

4217732 42177314217733

3011999

3011982

4202511

30094404202510

4202512

4202514

4202513

3009441

4252346

1234841

4217729 4217730

4252302

4217749 4217748

4211782 42012914201292

4217739

4251770

4250790

4250786

4250764 42507614250784

550000

550000

552000

552000

554000

554000

556000

556000

558000

558000

560000

560000

5178

000

5178

000

5180

000

5180

000

5182

000

5182

000

5184

000

5184

000

Legend!. Proposed holes_July 10-2010.csv Events

Ginguro_cut_line_2010ornelem_Project_Areas_2010mnrrdseg_Project_Areas_2010SECTION LINESSTRUCTURE CONTOURSFAULTSDIABASE DYKESUPPER MISSISSAGI SANDSTONESGRITSTONEUNIT 3 - UPPER CONGLOMERATEUNIT 2 - SANDSTONEUNIT 1 - LOWER CONGLOMERATEBASEMENTReconn_StructuresDiabase, Diabase, NipissingSandstone, MississagiConglomerate, GowgandaConglomerate, MississagiGranite, Psammite, Archean Basement

Rev250kpolyNipissing Diabase SillsCobalt Group: Gowganda FormationHough Lake GroupMetasediments

0 1 2 3 40.5Kilometers

®

Geological Map of the Pardo Project1:8,500

Ginguro Exploration Inc.Pardo Reef Project

Sudbury Minining DistrictMap 2

UTM_NAD83_Zone 17NPD-10-01

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