Part of the 2011 Exploration programme will be the significant...

Part of the 2011 Exploration programme will be the significant expansion of the existing Measured, Indicated and
Inferred Resources totalling 3.159 Billion tonnes of V2O5 at 0.30% (at 0.23% V2O5 cut-off grade).

In addition to these resources, Speewah estimates that a vanadiferous magnetite Exploration Target of 2 to 5 Billion tonnes at 0.30-0.32% exits in the Speewah Dome.

Drilling in the 2010 Exploration Programme just completed will be submitted for analysis in order to obtain an upgrade of the existing Resource early in 2nd quarter 2011.