Manitoba Mining Information

Is gold going to reach $5,000 per once?

Schroder Investment Management Ltd., which oversees $277 billion of assets globally, thinks that Gold may rise to over $5,000 an once.

You could easily see for the next several years that prices rise not to $1,000 an ounce, but prices rise to $5,000 an ounce or beyond as inflation psychology becomes more and more embedded and people become desperate to have a source of value,'’ said Christopher Wyke, London-based emerging market debt and commodities product manager at Schroder, which oversees about $10 billion of commodity assets.
Investors are turning to gold for protection as two-thirds of the world’s population cope with inflation rates that are climbing to more than 10 percent, Wyke said. Cash and inflation- linked bonds are poor substitutes as low interest rates, coupled with surging inflation, erode the real value of assets, he said.

Demand for gold will also rise as central banks become net buyers for the first time in 20 years, driven by developing countries, he added. Last year, world production of gold sank to the lowest since 1937 as reserves are depleted and few new sources of gold have been found.

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Manitoba Mining - San Gold Hits High Grade Gold at Rice Lake

San Gold drills 6.22 m of 85.1 g/t Au at Hinge No. 4

2008-05-21 05:37 PT - News Release

Mr. Dale Ginn reports

SURFACE DRILLING INTERSECTS 85 G/TONNE GOLD OVER 6.3 METERS AT HINGE #4

San Gold Corp. has released assay results for drill hole No. GS-08-33 in the new high-grade Hinge No. 4 zone. Hole No. 33 encountered 85.1 grams per tonne (g/t) (2.49 ounces per ton) over 6.22 metres (20.4 feet) at 100 metres (330 feet) below surface in a broad, continuous quartz-carbonate vein containing abundant visible gold throughout. Results from this hole are summarized with an accompanying table demonstrating the even distribution of the high grades throughout the intersection.

Hole No. From To Length Gold assay Zone
(metres) (metres) (feet) (g/t) (oz/t)

GS-08-33 109.1 115.4 6.3 20.7 85.1 2.49 (Visible gold) Hinge #4

DISTRIBUTION OF GRADE WITHIN THE ZONE

From To Length Gold assay
(metres) (metres) (g/t) (oz/t)

109.1 110.1 1.0 61.0 (1.78)
110.1 111.6 1.5 2.1 (0.06)
111.6 112.6 1.0 173.3 (5.06)
112.6 113.9 1.3 193.2 (5.64)
113.9 114.9 1.0 36.7 (1.07)
114.9 115.4 0.5 9.6 (0.28)

Dale Ginn, chief executive officer of San Gold, stated: “Our exploration team led by Bill Ferreira has made a new and promising high-grade discovery near our operating mill and on our mining lease. We look forward to increasing the size and quality of the new Hinge zones, which have unlocked the exploration potential of the entire volcanic sequence to the north of the main mine unit. Hole No. 33 is the most significant gold exploration hole drilled in the Rice Lake belt, and indeed, in Manitoba for some time, and is a credit to persistent drilling near-producing and past-producing mines.”

Assays are pending from the intersections of the same zone on Section line 400E (three holes: GS-08-23, 25 and 27) and the remaining holes on section 500E (two holes: GS-08-29 and 31) and will be reported as received by the company. Drill holes No. 25, No. 29 and No. 31 encountered similar intersections in terms of width and mineralogy with strong mineralization including visible gold observed in each hole. This zone remains open along strike to the northeast and to the southwest as well as at depth.

Please see news in Stockwatch dated Jan. 15, 2008, Feb. 19, 2008, and April 21, 2008, for previously posted results of the Hinge zones as discovered to date. The new zones are roughly parallel, dip to the northwest and are made up of quartz and carbonate veins containing gold mineralization. The volcanic units which contain the new veins are located in a sequence of rocks which lie approximately 1,500 metres into the hangingwall stratigraphically above and geographically to the north of the mineralized mine unit of the Rice Lake gold mine. To date, a total of at least four subparallel new veins have been discovered in the Hinge area, as well as numerous uncorrelated breccia zones within 100 to 300 metres of surface. Two diamond drills are currently drilling in the Hinge area. The new zones are located approximately 1.5 kilometres to the northeast of San Gold’s operating Rice Lake and mine and mill, and are fully accessible by road.

This program was carried out under the supervision of W.S. Ferreira, PGeo, the qualified person for this project under National Instrument 43-101. The drill core was split, with half sent to TSL Laboratories in Saskatoon, Sask., and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Check assays were also performed on pulps and rejects by both TSL and by Accurassay Laboratories of Thunder Bay, Ont. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones.

San Gold Corp

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New Player In The Manitoba Gold Rush

It has been said that small ripples can make big waves. A new exploration company, EagleRidge Minerals Ltd is making a big splash in the Rice Lake Gold Camp. Several smaller mineral claim staking ripples made in the past, have now merged together to create a wave of sorts that have splashed into the creation of EagleRidge Minerals Ltd (ERM), a new gold digger in Manitoba.

Although a new company, the roots of ERM are based in the history and efforts of Robert Freeman, an independent prospector who had the vision too quietly and carefully research and acquire a large package of mining claims in underexplored and geologically promising areas of the gold belt. Together with Gerald Massey, Freeman founded Central Consolidated Resources Inc. (CCR) which went on to become perhaps the largest “privately held” owner of mining claims in the region.

Freeman from CCR and William Moore of Boathouse Capital Advisory Group were then instrumental in establishing the consolidation of the land package that lead to the creation of Bell Gold Resources Inc. and EagleRidge Resources Ltd. Both of which are junior exploration companies, one focused on precious metals and the other on base metals.

After careful review of the exploration and mineral discovery potential of both companies it was obvious that considerable synergy existed that once acted upon would result in greater rewards with less costs. As a result of this a friendly merger was achieved and led to the creation of Eagle Ridge Minerals Ltd. This merger adds greatly to the overall mineral discovery potential while creating a stronger and more robust management and financial structure than the companies would have had if operating independently.

ERM now owes over 22,000 hectares of mineral exploration lands in southeastern Manitoba, most of which are located in emerging Rice Lake Gold Belt. Having six different groups of mineral claims gives the company a property base on a significant scale. The ERM properties have known occurrences for gold, copper, nickel and other minerals, as reported in historic government assessment files. Many of these properties have not been explored with modern methods or new techniques. Numerous mineral showings on these properties have remained idle for decades without follow up exploration.

Realizing that the best place to find a new discovery is next to an old one, the ERM exploration team is focused on detailed review and exploration of areas were mineral occurrences are known to exist, yet due to past economic conditions and/or past exploration limitations have remained idle. This exploration model, when used elsewhere under similar conditions, has resulted in new mineral discoveries that have paid immense dividends, including the Red Lake area of Ontario. The Red Lake Gold Camp shares almost twin geology with the Rice Lake Belt.

ERM has developed and commenced an exploration plan designed to more fully investigate both historic mineral showings and newly indentified zones on its properties. The ERM exploration activities are fashioned after similar plans that were successfully used in the recent Rice and Red Lake area discoveries made by other gold companies. It incorporates similar methods and exploration modeling.

ERM has begun exploration projects and commissioned geological reviews of its properties. This work has already identified several priority exploration targets that exhibit high potential for increased discovery of mineral resources.

JW Campbell an independent geologist and engineer recently completed a report on the geological features and mineral potential for one group of the company’s mining claims. This report was based on review of historic past work, geology investigations, data review and assessment along with a site visit. The report is written in a 43-101 compliant format and has clearly indentified favorable areas for gold deposits on the property.

ERM holds mineral rights to exploration lands that it is willing to bet have high potential for new gold discoveries. How much, its too early to tell, but the company and joint venture partners have agreed to spending several million dollars on gold exploration in the Rice Lake Gold Camp over the next 4 years, in order to prove a gold deposit of economic scale.

EagleRidge Minerals Ltd.

Investor Relations

William Moore

Suite 204 - 133 Richmond Avenue West

Toronto Ontario

416 - 363 - 9733

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