Ester Dome

Status

The mineral rights held by Millrock have been sold or assigned to Felix Gold. In the event Felix Gold elects to abandon any mineral rights comprising the project it must first offer to return them to Millrock. As payment for the Fairbanks area projects including Ester Dome Millrock has received  9,957,157 Felix Gold shares and US$210,000 in cash.

Millrock is entitled to a production royalty of 1.5% NSR with an advanced minimum royalty (AMR) provision.

Target

The predominant targets at the Ester Dome property are fault/vein/shear hosted gold deposits in metamorphic rocks with hydrothermal systems being sourced from granitic intrusions. Similar deposit styles existing within the Fairbanks Mining District include the True North mine operated previously and reclaimed by Kinross; Examples within the Ester Dome project area include the Grant Mine and Ryan Lode systems.

Location and Setting

Part of the Tintina Gold Province, the Ester Dome Project lies approximately 12 kilometers to the west of the city of Fairbanks and within the bounds of the mining district of the same name. Historic mining in the area led to the development of the city adjacent to the project boundaries. Ester Dome is accessible year-round by public gravel roads and is host to extensive trail networks that allow all-terrain vehicle access.

As Alaska’s “Second City”, Fairbanks is a logistics hub for Interior Alaska. The main campus of the University of Alaska and its geologic and engineering research centers are based in Fairbanks. The oil industry, two producing gold mines, and the State’s largest coal mine all rely on the three major highways, the rail line, and the international airport which converge in Fairbanks.

Land Status

The Ester Dome Project area is composed of 60 State of Alaska Mining Claims and 94 claims under exploration agreements with second parties. In total there are 3,662 hectares of mineral rights controlled by Felix Gold and subject to Millrock royalty rights.

Geology and Mineralization

The uplands of the Tintina Gold province within the Fairbanks District are underlain by metamorphic rocks of the Yukon-Tanana Terrane. A series of northeast-southwest oriented faults have dissected the metamorphic rocks and created dilatational pathways for Cretaceous-aged gold-bearing granitic magmas and hydrothermal fluids. Fairbanks District gold deposits are aligned along these northeast-southwest faults and subsidiary structures.

Mineralization in the Ester Dome area can be summarized as “vein-faults”. Structurally controlled quartz-sulfide veins with or without gold, quartz-sulfide breccias, and sulfide-bearing shear zones are the dominant mineralization styles. The potential for additional deposit models relating to felsic intrusions should also be considered and explored.

Felix Gold has calculated a gold resource for the Grant Mine which forms a part of the project.

Proposed Exploration Program

Drilling to expand the known resource at the Grant Mine is being planned by Felix Gold.