Why Nevada?

Starting in 1859 with the Comstock Lode and running through 2009, the latest year for complete records, the state of Nevada has produced approximately 186 million ounces. This represents 3.6% of total world production during this time period.  87% of this total has been produced since the original Carlin Mine owned by Newmont began production in 1965.  Nevada truly is “elephant country” when it comes to major gold deposits. In 2009, the latest year for complete records, gold production in the state came from 20 major operations. The news in 2010 and early 2011 continued to be encouraging from the standpoint of a long-term sustainable gold mining industry.  During the first quarter of 2010, Barrick’s Cortez Hills mine commenced operation. This operation is located in the Cortez Trend, and the pre-production reserve plus resource totalled greater than 11 million ounces of gold.  Carlin’s Cortez Hills property is located 4 miles east of Cortez Hills, and the JDS property occurs 18 miles to the southeast. One September 6^th, Barrick announced two new gold discoveries on the Cortez Trend, which demonstrate the continuing excellent growth potential in this area. The new 3.5 million ounce gold resource at Red Hill occurs just 1.2 miles south of our Cortez Summit property. The other exciting recent development is the Newmont Mining Corporation acquisition of Fronteer Gold in a deal valued at $2.3 billion.  The acquisition includes the new Long Canyon deposit, which is reported to contain measured, indicated and inferred gold resources totalling 2.2 million ounces (Fronteer Gold news release January 12, 2011). The deposit is located in a “new” exploration terrain 100 miles east of the Carlin trend of gold deposits.  Carlin’s Willow property is located in this new prospective region, approximately 50 miles northwest of Long Canyon.