Exploration Projects

The Wa Property, Ghana (100%)

Property Description and Location

The Wa property is located in NW Ghana about 530 km from the capital city of Accra in Ghana and Crew’s rights relating to the property were acquired when it acquired Guinor In late 2005. The prospecting licenses cover highly prospective Birimian greenstone host rocks where gold mineralization typically occurs as disseminations, stockworks and veins within the greenstones. The property comprises three prospecting licenses, namely Julie, Colette, Josephine, which total approximately 300 km².

Crew renewed its prospecting licenses for the Wa property in Q1 2007 and sees the property as instrumental to its strategy of expansion in West Africa.

Exploration Work

Over 28,000 reconnaissance and infill geochemical samples have been collected on the property and this work identified several high-value gold anomalies in an east-west oriented, 30 km by 10 km greenstone formation. Follow-up trenching, RAB and RC drilling further delineated the Julie, Colette and Josephine targets. A 6,000 m drilling program was planned on the Julie and Colette prospects to verify the resource potential in the Julie and Colette zone by Crew’s joint venture partner. The partner, however, withdrew from the agreement in early 2006 and the property has been returned undivided to Crew.

Crew is currently conducting a detailed assessment of the concession as a basis for further exploration planning. Thus far, the assessment confirms earlier results from the Wa property.

The Julie target is an East-West trending zone, with a strike length of about 6 km and 45 degrees dip to the north, with shear-hosted gold mineralization along a granite/basalt contact. The main zone contains two persistent quartz reefs, 0.5 to 20 m wide and dipping 45 degrees to the North. A unclassified (inferred) resource of approximately 3.3 million tones has been outlined in the top 30 m ore zone of the Julie target, containing about 300,000 oz gold. Subsequent trenching and geochemical surveys have suggested a further 1.5 km westward extension and the presence of an apparently richer eastern segment. The structure appears to be open along strike and down dip.

The Colette target, located 50 km east of Wa, also has a strong geochemical signature but appears to be geologically more complex. The area is covered with quartz scree and colluvium that makes the evaluation of this zone difficult. There appears to be at least two shear zones totaling more then 5 km of strike with numerous crosscutting faults. Results from shallow trenching have revealed anomalous sections greater than 10 m in thickness. The highest gold intersections reported are 8 m @ 3.5 g/t, 14 m @ 1.2 g/t and 13 m @ 3.7 g/t.

The Josephine target, located 25 km southeast of Wa, is a gold-bearing arsenopyrite occurrence with mineralization occurring at the contact aureole between schists and granite within. This has been interpreted as granitic roof facies in the basic volcanics. The prospect is large with the geochemical anomaly extending over 15 km. Trenching of areas to the north of the anomaly has returned promising gold results.

Glover Island joint venture

Crew has entered into a joint venture agreement with New Island Resources Inc to earn an interest in the Glover Island gold project in Newfoundland, Canada.

Under the terms of the agreement, Crew must spend C$5 million in exploration expenditures over five years to earn a 60% interest in the Project.

To date, New Island has expended over C$3 million in exploration to identify at least 20 gold occurrences. These zones are open along strike and may be connected.

Crew plans a program comprising a range of detailed geophysical surveys and drilling to assess the open pit potential of LPSE and KPS zones in addition to the other prospects identified to date.

Glover Island is prospective to host a significant gold deposit within a variety of settings. Immediate open pit targets are pervasively silicified felsite with disseminated pyrite and gold-quartz stockwork mineralisation in felsite. Title at Glover Island comprises one Mining Lease of 77 claims covering 1925 hectares and two Mineral Licences of 127 claims covering 3215 hectares.

Exploration in Greenland

Akuunnaat Licence

The Akuunnaat license number 2006/07 is in West Greenland and provides the exclusive rights to explore a 154 sq km area for gold, rubies and platinum. The license was granted in May 2006 and renewed in December 2007.

Allumersat License

The Allumersat license number 2006/06 is in West Greenland and provides the exclusive rights to explore a 55 sq km area for gold. The license was granted in May 2006 and renewed in December 2007.