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Deep River Project - North Carolina

ABOUT DEEP RIVER
Deep River contains gold-copper-molybdenum mineralization that is associated with altered porphyry intrusions and associated volcanic rocks and sediments. This high-level porphyry gold style mineralization in the Carolina Slate Belt is considered to have the potential for significant tonnage and economic value. The highly anomalous soil gold values found at Deep River are analogous to those encountered during the initial geochemical surveys at the two-million ounce Ridgeway gold mine.

The alteration associated with this porphyry system forms an elliptical shape elongated in a northwesterly direction and covers an area of approximately 8 km by 5 km. Within this system, the known soil gold anomaly (+ 50 ppb) has dimensions of approximately 3 km by 1 km with gold values up to 3.5 g/t. The broad alteration pattern may indicate the sub-surface existence of a much larger intrusive system that has not been drill tested.

Results from rock sampling of the limited outcrop in the prospect area range up to 3.1 g/t gold, 0.2% copper, 0.13% molybdenum and 0.74% lead. Rock samples taken outside of the original soil grid reported 2.5 g/t and 0.6 g/t gold, indicating good potential to expand the overall dimensions of the mineralized zone. The overall zone of mineralization is poorly exposed due to deep weathering and vegetation. An airborne magnetic, radiometric and EM geophysical survey show that the presently known area of alteration and mineralization is situated on the northwest flank of a large magnetic low, indicating that the system may be significantly larger than exposed.

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LOCATION / INFRASTRUCTURE
The Deep River Gold Project is located in central North Carolina, approximately 100 kilometers southwest of the capital city of Raleigh, in a rural area consisting primarily of farms and timberland. Infrastructure is excellent with good road access and readily available power and water, as well as a skilled labor force.

Mining in North Carolina is not subject to federal mining law but is regulated by State agencies. The present state government is considered by the company to be pro-business and environmental permitting is expected to proceed without significant difficulties. All land, including the minerals rights in the prospect area is privately owned.

EXPLORATION HISTORY
Although the Deep River prospect has no recorded gold production, a few shallow prospect pits scattered throughout the area show evidence of historic gold exploration activity. The area lies within 10 kilometers of the historic Robbins gold mining district. The first modern exploration in the area was conducted by Noranda Exploration from 1989 to 1991 and consisted of extensive shallow soil sampling, trenching, an airborne geophysical survey and the drilling of 20 shallow saprolite holes up to 45 m deep (545 meters in total) and 9 core holes up to 205 m deep (838 m in total). All of the holes were drilled in a limited area and tested only a small portion of the large (3 km by 1 km) gold anomaly. Results included long intervals of anomalous gold mineralization up to 0.5 g/t. Cyprus Minerals carried out a limited mapping, sampling and trenching program before terminating their work in mid-1994 without conducting any additional drilling. To date approx. US $700,000 has been spent in 1995 dollars exploring the property with only a small portion of the known area of alteration/mineralization having been drill tested.

GEOLOGY AND MINERALIZATION
The Carolina Slate Belt is a late Proterozoic to early Paleozoic province associated with the Appalachian orogeny which consists of a complex stratigraphy of metamorphosed volcanic, sedimentary and intrusive rocks. The Carolina Slate Belt hosts the two-million ounce Ridgeway gold deposit mined by Kennecott from 1988 to 1999, together with the Haile, Brewer and Barite Hill gold mines in South Carolina. Gold production in the Carolina slate belt ranked sixth in the United States in 1992. The geologic setting is similar to world-class districts for both gold and base metals. This region is thought to have major potential for containing large undiscovered deposits of gold and silver, as well as copper, lead, zinc, and molybdenum.

Rocks within the prospect area consist principally of meta-sediments and intermediate to acidic volcanic rocks and associated intrusive rocks. The prospect area is adjacent to a broad northeast trending contact between meta-sediments and volcanic rocks. Proximity to this contact is a common factor among the major gold deposits within the Belt.

Within the altered porphyry intrusions, gold mineralization is primarily associated with silica flooding and stockwork quartz veining in highly fractured and brecciated quartz-sericite pyrite (phyllic) zones. Gold mineralization in the meta-sediments is hosted primarily by zones of silicification and moderate sericitization and is limited to the margins of the porphyry intrusions. Alteration patterns generally parallel known intrusions, indicating that most of the intrusions are pre-mineralization. The overall alteration pattern may outline the sub-surface distribution of a larger intrusive which acted as a possible source of this large mineralizing system.

PROPOSED WORK PROGRAM
Erin will acquire a 100% interest in the project, subject to completion of a minimum work program totaling US $450,000 during the first year. Triangle Minerals, Inc. is managing the land acquisition and exploration program under Erin’s supervision. Land acquisition covering all of the main Southern Anomaly B is now complete and includes 14 tracts totaling 313 acres (126.67 hectares). A total of 1,500 m of vertical HQ core drilling is planned to test the Southern Anomaly. It is anticipated that drilling will start in February. Land acquisition on the northern anomalous zone will be ongoing while drilling of the southern target is underway.

ABOUT TRIANGLE MINERALS, INC.
Triangle Minerals, Inc. (“TMI”) is a North Carolina based corporation owned and operated by geologists, who have explored the Carolina Slate Belt for over 25 years, and have been directly involved in the discovery, exploration, development, mining, and reclamation of the two-million ounce, Ridgeway gold deposit in South Carolina, as well as other significant gold and base metal discoveries in the southeastern US.

The principals of TMI have developed a proprietary technical data base, including detailed knowledge of the local geology/geochemistry, and specific knowledge of gold and base metal mineralization locations within the Carolina Slate Belt. As well, TMI enjoys a local administrative infrastructure and substantial regional expertise (including an extensive understanding of local mining laws, landowners, local customs, etc.), within the southeastern US.

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Deep River Project - North Carolina

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