We are on the second hole of a step-out program aimed at adding to our NI 43-101 mineral resource. We are excited for many reasons:

- Drilling, reinterpreting the geology, and regional prospecting and stream sediment sampling have given rise to the idea that the Askot deposit is larger than we previously supposed.

- India's GDP growth is 7.2% for the year ended March 31 and estimated at more than 8.5% for the 2010-2011 fiscal year.

- After decades of being closed off from private-sector exploration, India mines only 40,000 tonnes of copper annually and satisfies its market demand of about 1 million tonnes with imported concentrates and scrap.

- India mines 3 tonnes of gold per year and extracts another 3 tonnes from imported copper concentrates. India is the world's largest single consumer of gold - about 800 tonnes or 26 million ounces per year. There are similar shortfalls in mine production of other non-ferrous metals.

- Copper remains around $3.00 per lb. and gold is still testing $1,200 per ounce; silver, zinc and lead prices remain strong; and many analysts are projecting strength for the next several years.

- Our high-grade Askot prospect, on a paved National Highway in Uttarakhand state, India, has a NI 43-101 compliant indicated resource containing those metals.

- After 13,600 meters of drilling obvious targets and 1,000 m of exploratory underground workings the horizontal and vertical boundaries of the deposit have not been found yet.

- We have engaged an excellent team for renewed drilling at Askot: TDMA, an experienced Indian contractor under the direction of David Guild; and Dr. William Sheppard, a well-known geologist with a specialty in VMS deposits. The drilling progam will test anomalies found during the past few years.

In 2008 we obtained a NI 43-101 and JORC compliant mineral resource estimate. Those documents are available on Sedar and on this site Mineral Resource Estimate, August 12, 2008 and the Technical Report, Indicated Mineral Resource Estimate, September 30, 2008 (3.4 Mb)

The Company received the official letter of Environmental Clearance for its Askot mine, as posted on this site. Forest Clearance is in progress. It is the last remaining permit for executing our already-granted Mining Lease Deed.

The Company is still working toward commercial production at Askot as soon as possible. When this is achieved the Company plans to finalize its acquisitions and start to explore some of its other selected prospects for copper, silver, gold, lead and zinc elsewhere in India.

Please contact us any time with your questions or comments.

Andrew E. Nevin
President & CEO
201 - 304 Columbia Street
New Westminster BC V3L 1A6
Canada
Telephone +1 604 529 9076
Fax +1 604 529 9064
Mobile +1 604 250 1795

email: nevin@pebcreek.com