True Blue & REE Project

This property consists of 335 quartz claims and covers an area to the West of Ketza River, Yukon Territory, Canada. The property hosts significant aquamarine mineralization and evidence of REE-bearing units was confirmed during the 2010 exploration program.

The Company successfully joint ventured this project to Great Western Minerals (GWG) in 2009-2010 period; due to other corporate priorities GWG elected not to continue the on-site exploration and True North have retain their 100% interest in the project.

Strong carbonate alteration has affected the rocks across the property. Low level concentrations of REE, Zr and Nb occur in the meta-volcanic and igneous rocks with a general trend that the more siliceous the host rocks are, the higher the REE, Zr and Nb concentrations. The highest grade mineralization occurs in a small dyke at Guano Ridge which graded 2.67% REO+Y. Individual ZrO2 grades within the dykes are as high as 4.77%, similarly the maximum Nb2O5 grade is 2.92%. In both the skarns and the dykes the proportion of heavy rare earths to total rare earths in the mineralized zones ranges between 23% to 28%.

Additional work to advance the project could consist of small programs of soil and rock sampling at the Mat, Blue, Double A and Trip showings to determine the type and extent of REE mineralization and assess the large magnetic anomaly south of Guano Ridge to determine if it is caused by a late, differentiated phase of the syenite pluton which fed the mineralized dykes. The Company remain open to Joint Venture prospects for this interesting project.