Botha River, Alberta

In July 2010, Ironstone acquired 82,688 hectares of metallic and industrial mineral permits in the Botha River area of Alberta, approximately 80 kilometres northeast of the Clear Hills project area.

The permits grant Ironstone exclusivity to explore the Botha River area for an initial two-year term. Assessment expenditures of $5/ha prior to the end of the first term will allow for the permits to be extended for an additional minimum two-year period.

A short field program conducted by Ironstone’s personnel at Botha River in August 2010 provided valuable insight into the local deposit and its similarity to the Clear Hills. Samples were collected from an iron-rich sandstone and were analyzed. The company is planning a follow-up sampling in summer 2011 and an exploratory drilling program in Q1 2012.