Resources and Reserves (from the EMC announcement on May 9)

Assay results from diamond drilling completed in the 2007 field season combined with historical data have enabled the Company to outline significant additional resources beneath the current pit design which is approximately 300m below ground surface.

The Company's internally generated resource estimates were calculated under the definitions and guidelines specified in National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101") and utilised the key assumptions, parameters and methods used in the preparation of the resource estimates contained in the technical report dated November 2004 and amended March 2005 entitled "Varvarinskoye Gold-Copper Project -- Northern Kazakhstan -- Technical Report" prepared by MDM Ferroman (Pty) Limited and Mintec Inc. in accordance with NI 43-101 (which is available for review on the SEDAR database at www.sedar.com) and on the same basis outlined in the 2007 estimated mineral resource previously reported (see the Company's press release dated January 15, 2007).

The revised resource estimates increase the previously announced estimated measured and indicated mineral resources by approximately 26 million tonnes of ore (at 1.24 g/t gold, 0.32% copper*) containing approximately one million ounces of gold and 157 million lbs of copper, representing an increase of approximately 20% of the total estimated measured and indicated mineral resources tonnages and an increase of approximately 25% in contained gold and 35% in contained copper for the estimated measured and indicated mineral resources.

* % copper based on HGCF only

Table 1: Additional Mineral Resources as at April 30, 2008

Table 2: Previously Published Mineral Resources as at December 15, 2006

Note:- HGCF is High Grade Copper Feed – flotation ore
HGCP is material stockpiled for treatment in the future
LGCF is Low Grade Copper Feed – Gold leach ore
LGCP is Low Grade Copper Feed – Gold leach ore from the weathering zone