ABINGTON DRILLING INTERSECTS ADDITIONAL 19.2 FEET OF 0.345 opt (11.8 gpt) GOLD AND REVIEWS ACQUISITION OF MORE PROPERTIES

Mr. Walter Brenner is very pleased to report confirmation and extension of a new high-grade gold zone (Verdstone 3 West – V3W). The assay results of holes VDC 03 04 are better than the first two holes (VDC 03 01 and VDC 03 02 the latter of which, as previously reported on June 4, 2003, had intersected 18 feet of .389 opt [12.02 gpt] gold) and indicate the presence of a distinct zone of high-grade gold mineralization. Detailed assay analysis of VDC 03 01 and VDC 03 02 are reproduced herein and reveal significant silver content in addition to the previously reported gold assays. Further drilling results, assay analysis and engineering are underway. Additional results will be reported as received.

The vertical HQ Diamond Drill holes were completed on the Verdstone Property in Yuma County, Arizona between May 8^th and 21^st.  Intersection lengths noted in the following table are presented in feet of Apparent Thickness logged in the drill core:

Hole # VDC-03-04 total depth of 370.0

Diamond drill hole VDC 03-04, located at Grid Reference 20,614N / 10,500E, was completed to a depth of 370.0 feet. This vertical hole intersected five veins within the 122.8 foot interval from 160.6-283.4 feet: First vein 160.6-184.0 feet (23.4 feet A.T.), Second vein 235.5-244.5 feet (9.0 feet A.T.), Third vein 246.7-249.8 feet (3.1 feet A.T.), Fourth vein 253.0-257.0 feet (4.0 feet A.T.), and Fifth vein 265.0-283.4 feet (18.4 feet A.T.), for an aggregate Apparent Thickness of 57.9. The inter-vein portions of the drill hole contained variable concentrations of veinlets measuring from 0.05 up to 0.9 feet of A.T.

Hole # VDC-03-03 total depth of 350.5

Diamond drill hole VDC 03-03, located at Grid Reference 20,498N / 10,469E, was completed to a depth of 350.5 feet.  In all, the drill hole intersected four separate quartz veins in the 117.0 foot interval between the depths of 209.0-326.0 feet: First vein 209.0-215.8 feet (6.8 feet A.T.), Second vein  275.6-278.6 feet (3.0 feet A.T.), Third vein 290.1-294.0 feet (3.9 feet A.T.) and Fourth vein 299.5-326.0 feet (26.5 feet A.T.), for an aggregate Apparent Thickness of 40.2 feet. The inter-vein portions of the drill hole contained variable concentrations of veinlets measuring from 0.05 up to 3.0 feet of A.T.

Detailed assays of the whole vein intersected by holes VDC 03 01  and VDC 03 02 are reproduced below (along with previously reported gold values). Assays reveal silver values up to 1.4 opt (48.4 gpt) over 7.9 feet in VDC 03 01 and values up to 2.0 opt (69.2 gpt) over 18 feet in VDC 03 02. This result positively influences the economics of mining the potential ore body.

Hole # VDC-03-01 total depth of 377.7’

DETAILED VEIN ASSAY ANALYSIS

* Note: Gold assays on right hand columns are from re-assay from unpulped portion of original sample to check for coarse gold.

Hole # VDC03-02 total depth 286.6’

DETAILED VEIN ASSAY ANALYSIS

As previously reported, visible gold was located in both of the above holes. VDC-03-01  had visible gold as fine disseminations at 282’, 285’, 318’, 325’, 327’,333.7’, 335’ and 341.7’. VDC-03-02 had visible gold in the middle and near the base of the 42.5 foot section of vein material over the interval 242.0’ to 284.5’. VDC-03-02 had less visible coarse gold and encountered more kaolin clay than VDC-03-01.  VDC-03-04  also encountered more kaolin clay than the first hole (VDC-03-01). Kaolin was abundant above previously mined Verdstone gold ore. The absence of visible gold coincided with higher assay gold values in VDC-03-04. In epithermal deposits like Verdstone, gold could be unevenly distributed throughout a zone of mineralization. Coarse gold, because of its granular nature, will generally assay less consistently than very fine gold disseminations. In the past, such ore deposits have been most successfully produced using processes that included a gravity separation stage to remove the coarse gold.

Drill hole 02 is located 100 feet north and 50 feet east of hole 01. Drill hole 03 is located 150 feet west and 100 feet south of hole 02 and drill hole 04 is located 100 feet north of hole 03.

On the basis of these successful drilling results, management intends to commission a formal geological report as to whether bulk tonnage sampling of this potential ore body is warranted and file the same with the TSX and other applicable regulatory agencies. It is management’s intention to primarily focus on discovering mineable zones of mineralization in the highly prospective Verdstone area and seeks to put V3W into active production and yield positive cash flow for the Company.

The Verdstone Mine consisted of three stacked zones of mineralization, which were profitably mined, one after the other, from approximately 1989 to 1994. While in production, approximately 500,000 tons of mined veins yielded economic grades of gold and silver. The apparent discovery of another, related but distinct zone (V3W) is consistent with the geology of epithermal gold deposits and could indicate replication throughout the area, therefore management is optioning additional mineral claims.

As noted in previous press releases of the Company, Mr. John Stockwell, P.Geol. has been retained to independently supervise the drilling program and log the core for assay analysis which is being done in Canada. Mr. Stockwell is a “qualified person” under the requirements of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).