The following excerpt is from EXPLORATION NEWSLETTER - What's up in Sweden, No 23 May 2007

Current news on exploration in Sweden. Editor Birger Filén

EXPLORATION NEWS

In 2006, Boliden invested a total of SEK 162 million in exploration and during the year approximately 100 000 metres of diamond drilling were completed. For 2007, Boliden will double investments in exploration to SEK 300 million, and an extensive recruitment programme to employ geologists and technicians has commenced.

On April 23, Mawson Resources Ltd announced identification of the Tresjöarna uranium prospect in Northern Sweden. The project lies two kilometres north-west of Mawson’s Kläppibäcken project, and one kilometre east of the Stensjödalen project. It is contained within Mawson’s 100% owned 5 237 hectare Hotagen No 1 exploration permit.

At the end of April, Northland Resources Inc had three drill rigs operating: two rigs on the Tapuli iron project and one rig drilling at the Palotieva iron project, all in Northern Sweden.
The Tapuli project is located 5 km from the Stora Sahavaara magnetite deposit. It is a near surface, open pittable magnetite body that the Company believes could be mined concurrently with the nearby Stora Sahavaara iron ore.
The Palotieva iron-copper-gold occurrence is located 1 km north-east of Tapuli and 6 km north-west of Stora Sahavaara and it is a continuation of the magnetite trend. In 2006, assaying at Palotieva Copper returned copper grades from trace to 11,8% in bedrock drill chip samples collected during Base of Till sampling. Surface transportation to port of a 200 tonne split of the bulk sample from Stora Sahavaara is completed. The containers of magnetite is ready for delivery to SGS Lakefield in Canada.
Northland acquired the Lannavaara and Saarijärvi projects through a joint venture with Anglo American Exploration B.V. and has also acquired additional exploration concessions in the area through staking. Lannavaara No 3 contains the historic iron (magnetite) occurrences of Kevus, Teltaja and Sattavaara. The Geological Survey of Sweden (SGU) estimates that “together Kevus, Teltaja and Sattavaara contain 82 Mt of iron ore”.
This spring Northland’s teams will begin systematic exploration and drill testing of the numerous targets that have been identified by Northland, and historically by Anglo and SGU. Examples of priority targets in Northland’s project portfolio include:

• The Ruutijärvi magnetite occurrence which lies betweeen Tapuli and Stora Sahavaara.
• The Södra Sahavaara magnetite occurrence which lies immediately south of Stora Sahavaara.
• The Salmivaara iron-copper deposit, 33 km north-east of Gällivare, Norrbotten county.

On April 26, Lappland Goldminers AB announced the completion of a directed new share issue of 5 million shares.
The company has decided to initiate a preliminary study, at an estimated cost of SEK 4 million, with the purpose of producing sufficient wind power locally to achieve an energy and carbon dioxide balance mainly for the Fäboliden gold project.

On April 2, Blackstone Ventures Inc announced that the company had intersected significant nickel sulphide mineralization in its first hole drilled in Sweden at the Lainijaur Project located in the northern part of the Skellefte district. The hole was drilled down dip of the historical Lainijaur Nickel Mine and intersected 2.06% Ni, 0.48% Cu, 0.07% Co over 5.1 m from 194.0 to 199.1 m drill depth. The intersection is belived to represent close to true width. The first phase of drilling at Lainijaur consisted of 1 347 metres in four holes. All four holes, which were drilled to target depths, hit variable amounts of sulphide mineralization. A preliminary interpretation of the drilling data indicates the mineralization appears to be a typical magmatic sulphide with the more massive sulphide being found towards the basal contact of a gabbro.
On May 8, the company provided an update of its 2007 Swedish Drilling Campaign. The results are from the second Swedish property to be drilled in 2007 and the first results from the historical Västerbotten Nickel Belt Project. Two holes drilled adjacent to historical
holes on the Lappvattnet deposit intersected nickel sulphides within a wider zone of disseminated mineralization. The best intersection held 3.21% Ni and 4.28 g/t TPM over 5 metres. Read more on www.blv.ca.

On April 26, Gold-Ore Resources Ltd provided further results from the ongoing underground drill campaign at the Björkdal Gold Mine. Gold-Ore had then completed 140 core holes totalling 12 800 metres from the underground workings. Gold-Ore has an option to purchase 100% of the gold producing property from MinMet plc of Dublin, Ireland. The deposit is initially drilled at 30-metre spacing and mineralized areas are then infill drilled at 15-metre spacing. This practise will enable the calculation of a measured indicated resource later this summer and will also permit conversion to proven and probable reserves during the upcoming feasibility study. For further information of the drill results read www.goldoreresources.com.

Wiking Mineral AB with offices in Stockholm and Boliden is a Swedish exploration company listed on AktieTorget (“ShareMarket”). After the acquisation of Nobel Metals Exploration AB the company has a promising project portfolio comprising 41 exploration permits in the Skellefte District and in the Bergslagen Area.
Dragon Mining Ltd has secured 224 km2 of permits within 40 kilometres of the Svartliden Mine. Airborne geophysical surveys have identified a number of target areas within this holding, which have been supported by regional geochemical surveys. Follow up ground geophysical and geochemical work is expected to progress these areas through to drill status.
Dragon has also entered into an Option Agreement with a private Swedish entity, whereby Dragon can earn 80% equity in the Orgsjö Project 60 km south of Svartliden. During 2005, ground magnetic and IP surveys were completed on this project, returning encouraging results.

Alcyone Resources AB has been granted an exploration permit at Kalvträsk in Västerbotten county. The focus will be on gold and silver.

Nordic Mining ASA has been granted an exploration permit for thorium south-east of Skellefteå, also in Västerbotten county.

Drake Resources Ltd and Zinifex Ltd have established an alliance for exploration in Sweden and they have applied for four exploration permits in the Bergslagen area in south central Sweden. At Zinkgruvan, 224 696 tonnes had been mined, a 30% increase in tonnage as compared with the first quarter in 2006.
The new Life Of Mine Plan will provide for three additional months of production at the Storliden zinc-copper mine compared to the previous plan. The mine will shut down at the end of 2007. During the first quarter 76 898 tonnes of ore was mined, as compared with 80 400 tonnes in the first quarter of 2006.

MINING NEWS

Boliden’s increased investments in exploration work are yielding results. Two new significant mineral resources have been discovered in the vicinity of the Kristineberg mine in Västerbotten. According to new calculations, the ore reserves in the Boliden area have increased from 3 320 000 tonnes to 4 980 000 tonnes. Boliden’s calculations indicate that the total lifespan for the Boliden area mines increases from 2 to 4 years.

On April 17, Lundin Mining announced first quarter 2007 operating results.

At Zinkgruvan, 224 696 tonnes had been mined, a 30% increase in tonnage as compared with the first quarter in 2006. The new Life Of Mine Plan will provide for three additional months of production at the Storliden zinc-copper mine compared to the previous plan. The mine will shut down at the end of 2007. During the first quarter 76 898 tonnes of ore was mined, as compared with 80 400 tonnes in the first quarter of 2006.

Gold-Ore Resources Ltd has released the results of an internal study that considers all aspects of a proposed underground mine at the Björkdal Project. The study is based on the known parameters from the current gold production at Björkdal and on contracts for an upcoming underground bulk sampling program that will form the basis of a feasibility study planned for later this year.

On April 10, the Environmental Court at Umeå Courthouse announced the Lappland Goldminers application for a goldmine and processing plant at Fäboliden in the municipality of Lycksele.
The announcement from the Environmental Court is an important milestone in the process of being granted a permit under the environmental law for the planned mine and processing plant the company states.

On April 4, ScanMining’s Annual Report for 2006 was published. Reed more on www.scanmining.se (only in Swedish).

DIAMOND EXPLORATION

Diamond exploration in Sweden continues, though at a slow rate. Six new exploration permits have been granted in the Norrbotten county.

Hope to see you soon!
© 2007 Geological Survey of Sweden

The content of this newsletter is entirely based Upon public information gathered from newspapers, press releases, and web sites on Internet.