Acquired in February 2007, Hemisphere Resources' Glandore Gold Project is located 40km east of the Golden Mile and was previously owned by WMC and ANGLOGOLD. The project has an extensive database of previous exploration data and three dimensional modelling supports geological interpretation. The Project has advanced exploration targets identified.

The Glandore Gold Project comprises 13 Prospecting Licences and 3 Mining Lease Applications that in total cover 22km² in area, as shown in Figure 2 below.

Hemisphere Resources carried out a comprehensive review of all known data on Glandore, including available plans, sections, and an extensive database including geology, geophysics, geochemical and drilling results. The detailed geology and targets are shown in Figures 2 and 3 below.

Exploration Summary

Exploration drilling programs completed to date have produced very positive results with near surface targets tested and four lode zones drill tested to date.

Three dimensional modelling confirms an understanding of distribution of gold with over 20 favourable target areas identified.

Primary favourable areas include (click on the links to read more):

• Axial Planar Fault
• Supergene Zone
• East Lode
• Central Fault Zone

These programs are being implemented with very encouraging results to date.

Fig 1: Glandore Gold Project Location

Fig 2: Glandore Target Areas

Fig 3: Glandore Favourable Lithologies

Three Dimensional Models

The northern part of the Glandore Project is modelled in Fig 4 below showing en-echelon sub vertical targets and flatter zone. The interpretation is that the highest grades are where vertical and flat targets intersect. The general orientation of vertical targets are:

• Strike ~ 320°
• Dip ~ 55° to 70°

Fig 4: Glandore 3D Model 1

Exploration Drilling Programs

A detailed geological interpretation of the project area was developed based on the existing detailed geological database. This review confirmed that the favourable localisation of gold mineralisation is controlled by the intersection of the magnetite enriched, dolerite and gabbroic phases of the Glandore Sill, with the axial-planar faults and shear zones within the hinge zone of the Glandore Antiform. The Company believes this is a similar structural setting to the Golden Mile in Kalgoorlie and a number of other important gold deposits in Western Australia.

The potential for gold mineralisation at depth increases from south to north along the tenements due to the plunge of the anticline which has been interpreted to be 20° to the north.

From this interpretation, an exploration program was prepared and over 2,000m of Reverse Circulation (RC) drilling has been conducted. Initial testing was three significant near surface gold mineralised target areas of the Supergene Zone and the Central Fault Zone .

This initial drilling produced very positive results, confirming mineralisation to be open at depth and to the north and south of the Supergene Zone and open down dip and along strike of the South Central Zone .

Untested Target Zone Drilling

Programs have also been planned to explore untested target zones, as follows:

• Where previous RAB and RC drilling has shown intercepts of significant gold grades associated with the intersection of northwest trending faults with the granophyric zone.

• Along the strike from the Lake Consols shaft – which reported a mined gold grade of 22g/t – there was a previous intersection identified of 5m at 35.8g/t from 24m.

• In areas where a number of surface geochemical gold anomalies are either completely untested by drilling or have had only minor drill testing.