Goldbanks Project Area

The property consists of an aggregate of 699 unpatented lode mining claims covering approximately 14,441 acres in T30N, R38E, and T31N, R38E. The property is held under the terms of an Exploration License and Option Agreement between Kinross Goldbanks Mining Company (―KGMC‖), a subsidiary of Kinross Gold Corporation (―KGC‖) of Toronto, ON and TML Ventures Inc. (―TML‖) of Vancouver, BC dated March 15, 2004. The option was assigned by TML to Desert Gold Ventures Inc. (―Desert Gold‖ or the ―Issuer‖) of Vancouver, BC on April 29, 2004. Under the terms of the amended Agreement Desert Gold, the current project operator, is required to complete an aggregate of $5,000,000 in staged exploration expenditures and issue up to 200,000 shares in staged payments on or before December 31, 2008 in order to earn a 50% interest in the property. A total of 501 unpatented lode mining claims are held by KGC while 198 mining claims are held in the name of Goldbanks Nevada Ventures Inc., a wholly owned subsidiary of Desert Gold.

Gold exploration conducted by Bear Creek Exploration on a large block of claims from 1979-85. In 1986, G.L. Grauberger staked 300 claims centered around the Nevada Quicksilver Mine and after an initial successful drilling program in 1988, proceeded to drill over 500 holes before entering into a 50/50 joint venture with Kinross Gold Corporation in May, 1995; eventually selling his interest to Kinross in 1997; but reserving a 3.5%NSR on future productio

Since 1979, the Goldbanks property has been extensively explored and drilled by several companies, including: Bear Creek Exploration, AuCo, Restoration Minerals Company, MK Gold, Kinross, Newmont, and last by Desert Gold Ventures in 2004-05. To date there have been 1,056RC holes and 128 DD holes totaling 746,804 feet of drilling. Most of the holes were drilled to depths of at least 400 feet, with many holes reaching 1400 feet.


Reference:

desertgold.pubco.net/s/Goldbanks-Deposit.asp
desertgold.pubco.net/s/Goldbanks-Summary.asp

desertgold.pubco.net/i/pdf/TP-Goldbanks43101_Amended_4-...