O/ZIt/o J/1 0DO

~b OI2-Pr/o I!I hOD II

Third Year Assessment Report

Of

Prospecting and Geochemical Investigation

On

The Nickel One Property

License # 14844m

Kikupegh Pond area, NTS Map Sheet 12A10 1

By

Roland And Marilyn Quinlan

UTM coordinates of Northeast Comer (5337500N:568500E) Nad27

Work conducted April, 2009 to March 2011

March 30th 2011

Table of contents

i Introduction 1 ii Location and Access 2 iii Local Geology 3 iv Previous work 4 vi Nfld Geology 5-6 vii Conclusions And Recommendations 7

Illustrations

Fig.1 Location One page Fig.2 Sample location One page Fig.3 NFLD Geology One page Fig.4 Local Geology One page

Appendices

viii Statement of expenditures One page ix Assay sheets (digital only) One page x Sample descriptions One page xi References Two pages

Page 1

Introduction

In early 2008 the commodity boom had reached its peak. The demand for all commodities seemingly had no limits with nickel being one of the frontrunners. At the time the acquiring of a nickel property within the province of Newfoundland and Labrador without moving to Labrador was at best tenuous.

Former work by the author had lead to the discovery of magmatic, nickel and copper bearing boulders in the south central portion of the province. Eventually the author traced the boulders to outcrop and with the advice and assistance of the Department Of Natural Resources, identified the showing as been of magmatic origin and potentially a significant new type of deposit here on the island of Newfoundland.

The area staked by the author, became known as the Lucky Moose property. It has since been optioned to a joint venture partnership between Benton Resources, Royal Roads and Golden Dory Resources with drilling expected in 2009.

With these developments the idea was to identify other mafic intrusives of similar age and chemistry and to see if these could also have the potential for a similar type of deposit. Work in 2005, checking out gold lake sediment anomalies on the south coast of the island had already identified a large gabbro intrusion that looked in field samples very much like other mafic intrusions scattered throughout the island. Field notes at the time indicated that the intrusion was nearly identical to the section of the Portage Lake intrusion that is host to the Lucky Moose showing.

Later research indicated a small nickel and copper occurrence just to the north in what is now called the Round Pond Gabbronorite (Slipp, 1952),. After researching the area and finding little if any work done specifically for magmatic type deposits it was decided to stake the occurrence. In early 2008 six claim blocks were staked and became known as the Nickel One property.

- 2 -

Location and Access

The Nickel One property consists of six claim blocks held under license # 14844m.It is situated in south-central Newfoundland just north of a lake known locally as Kikupegh Pond. For mapping purposes it can be located in the northeast quadrant of nts map sheet 12A/10.

Access to the property is limited with a helicopter or float plane ride being the quickest and easiest. Alternately a recently established forestry access road to the south of the property approaches to within five to six kilometers of the southern border of the property. From the end of this road it is at least five to six kilometers to the property.

To the far south this road comes to within a few hundred meters of the southern end of Kikupegh pond. From there a small boat can be dragged to the lake and a 4-5 kilometer boat ride will take you to within a few hundred meters of the property. From there access is again strictly on foot.

Topography is rolling so to speak with only minor changes in total elevation. The entire area except the lakes and bogs consists somewhat of gently rolling hills marked by an occasional ridge but for the most part the terrain is not difficult to navigate.

Page 3

Local Geology

For the larger region all the metasedimentary and metavolcanic rocks that extend from the Cold Spring Pond Formation to Bay d'Espoir and northeast to Kaegudeck Lake are assigned to the Baie d'Espoir Group. These rocks of the Baie d'Espoir group are considered to be Lower Middle Ordovician in age (Colman-Sadd, 1980) and the Victoria Lake Groups, further to the west represent the development of a Cambro-Ordovician island arc and back-arc basin on the pre-existing oceanic crust represented by the ophiolite belt (Colman-Sadd and Swinden, 1982. Most formations in the region have been polydeformed and, although mainly metamorphosed in the greenschist facies, locally show sharp metamorphic gradients up to migmatite.

The mineralization of the Nickel One property occurs on or near the contact between dioritic intrusive rocks and greywackes of the Baie d'Espoir Group. Pyrite, pyrrhotite and chalcopyrite occur in the outcrop of mixed diorite and greywacke. Best assays gave less then one percent nickel and trace of copper. Also according to Slipp (1952) there is a major fault near the showing and it strikes generally E-W and is believed to have a nearly vertical dip.

The sediments which are host in part to this occurrence are probably part of the Baie d'Espoir Group which has been mapped immediately north (Swinden and Collins, 1982) and immediately east (Colman-Sadd, 1980) by subsequent mapping programs. The diorite mapped by Slipp (1952) is probably an equivalent of, if not part of, a basic intrusive mapped within and on the eastern side of Round Pond. Colman-Sadd (1980) describes this as a unit which varies from a dark pyroxene rich rock in the north, through grey gabbronorite on the islands (in Round Pond) to a lighter coloured hornblende granodiorite south of Round Pond. Colman-Sadd (1980) concluded that all the variations belong to a single middle Ordovician (or younger) intrusion which he termed the 'Round Pond Gabbronorite'.

Taken and modified from Department Of Natural Resources website ( Mods.Occurrences)

5

Newfoundland Geology

Taken from Barbour D. and Churchill R., 1999. Tectonostratigraphic setting: The Appalachian Orogen in Newfoundland is composed of four northeast-trending late Precambrian to lower Paleozoic tectonostratigraphic zones. The zones are termed Humber, Dunnage, Gander and Avalon Zones and were classified on the basis of distinct structural, depositional, tectonic and volcanic-plutonic characteristics. Portions of these zones were deformed during the Precambrian Avalonian Orogeny, the middle Ordovician penebscot/Taconic orogeny, the lower to middle Silurian Salinic Orogeny, the Devonian Acadian orogeny, and finally during the Carboniferous Alleghanian Orogeny. The Humber Zone records the development and subsequent destruction of an Atlantic-type passive continental margin on the southeast margin of Laurentia. The Dunnage Zone represents vestiges of the Iapetus Ocean and later accreted island arc systems and melanges. Rocks of the Gander Zone record the development and destruction of a continental margin located in the east of the Iapetus Ocean and possessing Celtic affinities. The rock record of the Avalon Zone relates to either rifting and subsequent opening of the Iapetus during Precambrian times, or to a subduction cycle that predated opening of the Iapetus. The zone was a stable marine platform during Cambro-Ordovician time, characterized by shallow water deposition of platformal carbonates and siliciclastic rocks. With the exception of the Gander-Avalon boundary, malanges and ophiolite complexes characterize the boundaries between the other zones. The Humber-Dunnage boundary is delineated by the Baie Verte - Brompton Line - Long Range Fault system along which ophiolitic slivers such as the Flatwater Pond Complex are found. The Gander River Complex separates the Gander and Avalon Zones. The Avalon-Gander boundary, the Dover Fault - Hermitage Flexure is delineated by subverticle to vertical faults that contain broad zones of ductile deformation. Siesmic data for the Baie Verte - Brompton Line and the Gander River Complex show that these major breaks do not extend to deeper crustal levels reaffirming earlier suggestions that the Dunnage Zone may be allochthonous on Humber and Gander Zone basement rocks. In addition, major structures such as Baie Verte - Brompton Line and Gander River Complex have shallowly dipping geometries consistent with ramp-flat style deformation. Within the Dunnage Zone volcanic, plutonic and sedimentary rocks record the development and eventual destruction of the Iapetus Ocean during the early to middle Paleozoic. The northwestern section of the Dunnage Zone, the Notre Dame Subzone, is underlain by a mixed volcanic-sedimentary package that was intruded by alkalic granitic bodies. The geometry of the Notre Dame Subzone is dominated by a northeast-southwest trending belt of predominantly Ordovician

6

aged, arc-related mafic to felsic volcanic rocks and subsidiary volcaniclastic to sedimentary lithologies. The southeastern part of the Dunnage Zone, the Exploits Subzone, is characterized by deep marine sedimentary rocks of Ordovician age and Silurian, shallow marine to fluviatile sedimentary rocks and subaerial volcanic units that have subsequently been intruded by Siluro-Devonian gabbroid and granitoid rocks. The boundary between the Exploits and Notre Dame Subzones is delineated by a late rectilinear fault or fault system termed the Red Indian Line which, in some areas, is manifested as a mylonite zone locally punctuated by intrusions.

7

Conclusions and Recommendations

The Nickel One property was staked originally to cover a small, historical nickel-copper occurrence. Since the original staking the property has seen very little detailed exploration with accessibility being a key problem. This season though, despite the work involved, a small boat was used to access the property from the southern end of Kikupegh lake. Time actually spent on the property was somewhat limited but the trip did help prepare the way for more frequent and longer visits.

To date the historical nickel occurrence has not been located. Only a few samples of float material have been sampled with no encouraging results. Work is expected to continue for at least another season as time and weather permits.

Table 1 The Nickel One Property Sample Description License # 14844m NTS Map Sheet 12A/01 Zone 21 Nad 27

Sample #

Type Rock type

Mineralization Au (ppb)

Ni (ppm)

Utm coordinates

M1068 grab sediments Minor pyrr 5 14 567535:5336242

M1069 grab sediments Minor pyrr 5 8 567524:5336220

M1070 grab sediments Minor pyrr 5 7 567513:5336187

Au Fire Assay/ICP Geochemistry CertificateClient: Marilyn QuinlanGeologist: Eastern Analytical LimitedProject: P.O. Box 187Sample: Rock Little Bay Road Signed by:______________________

Springdale, NLDskFile: E1012100 A0J 1T0 (Concentrations in assay range

may cause interferences in DateIn: December 22, 2010 Phone: 709-673-3909 associated elements.)DateOut: January 07, 2011 Fax: 709-673-3408

Email:easternanalytical@nf.aibn.com---------------------------- ------------------ --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------Sample Au Ce Sr Ba Fe P Hg Mg As V Na Mo Al Be Ca Zn Cu Sb Ag Pb Bi Ti Cd Co Ni W La K Mn Sn CrNumber ppb ppm ppm ppm % % ppm % ppm ppm % ppm % ppm % ppm ppm ppm ppm ppm ppm % ppm ppm ppm ppm ppm % ppm ppm ppm----------------------------- ------------------ --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------- --------M1056 500 33 8 178 2.66 0.10 1 0.03 9 4 0.19 1 0.39 0.5 0.25 18 175 5 0.5 7 2 0.01 1.0 9 2 10 10 0.23 230 20 98M1057 148 42 8 229 2.85 0.11 1 0.02 5 5 0.23 1 0.38 0.5 0.16 23 48 5 0.2 4 2 0.01 0.8 8 2 10 10 0.22 133 20 182M1058 240 30 17 161 2.28 0.07 1 0.16 6 3 0.17 1 0.28 0.5 0.98 29 8 5 1.2 179 2 0.01 1.1 6 1 193 10 0.20 725 20 110M1059 317 32 4 43 0.81 0.05 1 0.01 5 2 0.26 1 0.16 0.5 0.06 4 9 5 0.2 4 2 0.01 0.5 2 3 10 10 0.05 60 20 264M1060 5 10 3 31 1.86 0.01 1 0.01 5 2 0.13 92 0.05 0.5 0.01 2 159 5 3.2 >2200 2 0.01 0.5 2 4 10 10 0.04 22 20 286M1061 5 14 111 13 4.76 0.05 1 1.95 5 35 0.15 1 0.90 0.5 >5.50 58 20 5 0.2 7 2 0.01 1.7 23 10 10 10 0.09 1575 20 63M1062 5 52 3 10 2.66 0.04 1 0.48 11 35 0.17 1 1.25 0.5 0.12 27 4 5 0.2 8 2 0.03 0.7 7 18 10 10 0.09 184 20 195M1063 5 10 2 10 0.71 0.01 1 0.09 5 7 0.16 1 0.22 0.5 0.04 12 9 6 0.2 8 2 0.01 0.5 2 9 10 10 0.06 71 20 406M1064 5 58 3 15 2.91 0.04 1 0.53 70 37 0.12 1 1.35 0.7 0.10 31 5 5 0.2 2 2 0.04 0.8 10 22 10 10 0.08 433 20 153M1065 5 15 1 10 0.92 0.01 1 0.14 13 14 0.16 4 0.33 0.5 0.03 12 4 5 0.2 10 2 0.01 0.5 4 9 10 10 0.05 124 20 357M1066 5 10 1 10 0.53 0.01 1 0.05 5 5 0.13 2 0.15 0.5 0.02 4 3 5 0.2 5 2 0.01 0.5 2 8 10 10 0.04 66 20 324M1067 5 16 3 12 1.49 0.02 1 0.26 7 17 0.16 1 0.71 0.5 0.08 17 3 5 0.2 3 2 0.02 0.5 6 17 10 10 0.12 148 20 206M1068 5 27 3 10 2.09 0.02 1 0.36 10 32 0.17 2 0.91 0.5 0.08 29 23 5 0.2 3 2 0.03 0.5 7 14 10 10 0.12 199 20 211M1069 5 10 1 10 0.78 0.01 1 0.08 5 9 0.15 2 0.25 0.5 0.03 6 3 5 0.2 2 2 0.01 0.5 2 8 10 10 0.09 66 20 309M1070 5 18 2 10 0.60 0.01 1 0.04 19 8 0.17 2 0.24 0.5 0.03 3 4 5 0.2 2 2 0.01 0.5 2 7 10 10 0.10 55 20 286

References

Blewett, K 1978: Diamond drilling report for the Great Burnt Lake area, Newfoundland. Rio Tinto Canadian Exploration Limited Unpublished report [GSB# 012A/0228] Bucknell, W R 1978: Diamond drill logs and plans for the Great Burnt Lake area, Newfoundland. Rio Tinto Canadian Exploration Limited Unpublished report [GSB# 012A/01/0208] Colman-Sadd, S P and Swinden, H S 1983: Cold Spring Pond, Newfoundland. Unpublished Map 83-108 Mineral Development Division, Department of Mines and Energy, Government of Newfoundland and Labrador Open File 012A/01/0360 Heshka, W and Sander, G W 1970: Report on 1969 investigation of the Buchans concession and south concession areas, Newfoundland. Hansa Syndicate, Sander Geophysics Limited, and Hansa Explorations Limited Unpublished report [GSB# 012A/0120] Swinden, H S and Hyde, R S 1988: Geology and economic potential of the Pipestone Pond area [12A/1 NE; 12A/8 E], central Newfoundland. Geological Survey Branch, Department of Mines, Government of Newfoundland and Labrador Report 88-02, 101 pages. [GSB# 012A/0622] Bucknell, W R, McCance, J A, and McKenzie, C B 1976: Report of geological, geophysical and diamond drilling surveys on the Cold Spring Pond claim in the Great Burnt Lake area, Newfoundland. Rio Tinto Canadian Exploration Limited and Consolidated Morrison Explorations Limited Unpublished report [GSB# 012A/01/0187] Bucknell, W R 1977: Report on the geology, geophysics and geochemistry of the Godaleich Pond claim group claims 9614-9619 and 10192-10193 in the Godleich Pond area, Newfoundland. Rio Tinto Canadian Exploration Limited Unpublished report [GSB# 012A/01/0189] Colman-Sadd, S P 1980: Geology of south-central Newfoundland and evolution of the eastern margin of Iapetus. American Journal of Science, Vol. 280, pages 991-1017. [GSB# NFLD/1459] Colman-Sadd, S P 1984: Geology of the Cold Spring Pond map area [west part] 12A/1, Newfoundland. In Current Research. Mineral Development Division, Department of Mines and Energy, Government of Newfoundland and Labrador Report 84-01, pages 211-219. [GSB# NFLD/1363] Dickson, W L and Tomlin, S L 1983: Geology of the Despoir Brook map area and part of the Facheux Bay map area, south-central Newfoundland. In Current Research. Mineral Development Division, Department of Mines and Energy, Government of Newfoundland and Labrador Report 83-01, pages 51-56. [GSB# NFLD/1332] Harris, J L 1980: Report on geophysical and drilling survey for the Round Pond project on claims in the Round Pond area, Newfoundland. Rio Tinto Canadian Exploration Limited Unpublished report [GSB# NFLD/1158]

Harris, V 1976: Assessment report on claims 9614-9619 in the Great Burnt Lake area, Newfoundland. Consolidated Morrison Explorations Limited Unpublished report [GSB# 012A/01/0181] Holmes, J M and Gubins, A 1986: First year assessment report on geological, geochemical and geophysical exploration for the Hermitage Flexure project for licence 2601 on claim blocks 4140-4142 in the Despoir Lake area, Newfoundland. Selco Division-BP Resources Canada Limited Unpublished report, 24 pages. [GSB# NFLD/1511] Holmes, J M 1987: Second year assessment report on geological and geochemical exploration for the Hermitage Flexure project for licence 2601 on claim blocks 4141-4142, 4622 and 4626 in the Despoir Lake, Little Despoir Lake and Dismal Pond areas, Newfoundland. Selco Division-BP Resources Canada Limited Unpublished report, 78 pages. [GSB# NFLD/1695] Swinden, H S and Hyde, R S 1988: Geology and economic potential of the Pipestone Pond area [12A/1 NE; 12A/8 E], central Newfoundland. Geological Survey Branch, Department of Mines, Government of Newfoundland and Labrador Report 88-02, 101 pages. [GSB# 012A/0622]