In 2006, the Snegamook property was covered with an airborne radiometric/magnetic survey in conjunction with the surveys over the CMB JV properties. Limited prospecting carried out in the fall of 2006 resulted in the discovery of the Near Miss Showing (the zone did not appear as an airborne radiometric anomaly). The showing, which lies approximately four kilometres southwest of the Two Time Showing, gives total count values greater than 10,000 cps in sub-angular boulders and outcrop covering an area approximately 100 metres by 30 metres. In 2006, a total of 12 grab samples taken from the area gave five samples with values greater than 0.1% and four other samples giving values greater than 0.02%, ranging from 0.0007% to 0.14% U3O8. The host rock, fractured/brecciated felsic to mafic intrusive units, is similar to the Two Time Zone and carries uranophane. Follow up work in 2007, which included line cutting, RadonEx surveys and prospecting and diamond drilling (totalling 1,375 meters in six holes), noted a significant RadonEx anomaly associated with the Near Miss Showing and has given rock sample values from 78 to 5,000 ppm (0.008% to 0.5%) U3O8.

Line cutting consisted of a series of control lines across both the CMB NW and Snegamook properties at one-kilometer intervals. These lines provide access and control for the RadonEx, soil geochemistry, geological mapping and prospecting. No detailed grids have been cut to date. RadonEx surveys showed a discontinuous trend of radon anomalies along the southern extension of the Two Time trend; anomalies in the Near Miss area and areas to the north of the Near Miss; and an extensive area of anomalous values along a northeast trend from the Near Miss, across the property to the north-eastern corner of the claims.

Prospecting was concentrated on RadonEx anomalies with most of the anomalous samples associated with major east-northeast or north-north-westerly trending structures, the most significant of which is a 12-kilometer long east-northeast trending suture that extends from the Near Miss Showing across the property, approximately 2.5 kilometers south of the Two Time Zone, to the area of the highly anomalous lake sediment values on the CMB NW property. The uranium values are hosted in hematite bearing breccia zones close to the trace of the structure and in pegmatitic zones to the north of it. Mineralization with values up to >0.1% U308 was located. The Near Miss Showing, located in the south-western portion of the Snegamook property, gives values from 78 to 5,000 ppm (0.008% to 0.5%) U3O8 in rock samples from outcrop and also shows good coincidence with RadonEx radon gas anomalies.

The diamond drilling in the fall of 2007 tested RadonEx anomalies and the Near Miss Showing. Four holes, totalling 985 meters, tested the Two Time trend over a two-kilometer strike length, approximately 1.5 kilometers to the south of the Two Time Zone, located on the CMB NW property to the north. The drilling intersected intrusive and older gnessic rocks with sections of structurally controlled, brecciated monzodiorite, similar in style to the Two Time mineralization, which carried moderate to strong chlorite, hematite and carbonate alteration and uranium mineralization in holes SN-07-02 and SN-07-03. Values ranged from 50 to 1,034 ppm U308 with the best section averaging 189 ppm U308 (0.378 lbs/ton) over 24 meters, similar to values located in the Phase 1 drill program on the Two Time Zone itself. The other two holes missed their targets.

Drill holes SNNM-07-01 and SNNM-0702, spaced 80 meters apart, targeted the Near Miss Showing. Both holes intersected one-meter intervals of uranium mineralization grading 235 and 1,534 ppm U308. The mineralization is developed proximal to, or along the contact with, older Archean Gneiss. Drilling in 2008, which is continuing, has tested the showing with four drill holes - SNNM-08-3 to 7 for a total of 807 meters. All holes to date have intersected zones of radioactivity as defined by total count scintillometer. Core samples have been sent for analysis and results are pending.

In 2008, continued drilling is testing uranium mineralization located in the 2007 first pass drilling and mineralized areas discovered by prospecting and untested radon gas anomalies, including high-priority targets south and east of the Two Time Zone and to the north of the Near Miss Showing. A total of 30 drill holes, including 24 (6,913 meters) in 2008, have been drilled to date.

Eleven holes (SN-08-5 to 8, 10, 11, 14, 15, 17, 18 and 20), totaling 4,735 meters, tested the Two Time trend over a two kilometer strike length, approximately 1.5 kilometers to the south of the Two Time Zone, on the CMBNW JV property. This trend was previously identified in 2007, by drill holes SN-07-02 and 03. The recent drilling has traced the uranium mineralization 800 meters to the north of SN-07-03. Twelve of 13 drill holes have intersected structurally controlled, brecciated monzodiorite, similar to the Two Time Zone mineralization, with moderate to strong chlorite, hematite and carbonate alteration in older intrusive and gneissic units. Individual one meter values range from 50 to 1,110 ppm U308, with the highest grade section in SN-08-8 averaging 206 ppm U308 (0.41 lbs/ton) over 73 meters, similar to values located in the Phase 1 drill program on the Two Time Zone. Higher grade zones, 0.11% (2.13 lbs/ton) U308 over three meters and 0.11% (2.22 lbs/ton) U308 over two meters were located in SN-08-18.

Two holes, SN-08-09 and SN-08-12, totaling 1,726 meters, tested the possible extension of the Two Time Zone at depth, approximately 600 meters to the south of the known zone on the CMBNW JV property to the north. Both holes failed to intersect mineralization. They deviated to the north, away from the proposed target, and failed to test the projected extension.

Two holes, SNNM-08-03 and 04, totaling 422 meters, were targeted 50 meters to the west of 2007 holes SNNM-07-01 and 02, which tested the Near Miss showing. Both holes intersected hematite microbreccias with individual one meter intervals grading from 113 to 2,117 ppm U308, with the widest intersection averaging 213 ppm U308 (0.43 lbs/ton) over 16 meters including one meter of 0.21% (4.23 lbs/ton) U308. The mineralization is developed proximal to and along the contact with the older Archean Gneiss.

Drill holes SNNM-08-05 to SNNM-08-09 (800 meters), targeted coincident airborne radiometric and radon gas anomalies, 500 meters to one-kilometer to the north of the Near Miss Showing. No significant mineralization was intersected and to date the anomalies remain unexplained.

Four holes (SN-08-13, 16, 19 and 21), totaling 1,224 meters, tested areas away from known mineralized trends. Two holes, SN-08-13 and 16 (432 meters), targeted strong radon gas anomalies approximately one kilometer to the west of the Two Time extension area. No significant mineralization was intersected and the anomalies remain unexplained. Two holes, SN-08-19 and 21 (474 meters), targeted strong radon gas anomalies coinciding with anomalous grab samples from outcrop, approximately two kilometers to the east of the Two Time Zone extension, on Licence 11472M. Both holes located weak radioactivity, as defined by total count scintillometer, in brecciated pegmatite with moderate to strong hematite alteration. Sample values were insignificant, however more work is required in this area as the radon gas anomalies are some of the strongest located in the surveys of the area.

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