Winter 2007-08 Vanguard Property Diamond Drill Program Ames, Haines, Kashabowie Lake, Burchell Lake, and Crayfish Lake Townships Thunder Bay Mining District Ontario NTS: 52B/09, 52B/10 Prepared for: Everett Resources Ltd. Prepared by: Michael J. Thompson, P.Geo. Fladgate Exploration Consulting Corporation Date: March 26, 2008 FFFlllaaadddgggaaattteee EEExxppplllooorrraaatttiiiooonnn CCCooonnnsssuuullltttiiinnnggg Table of Contents Page 1 Introduction .................................................................................................. 1 2 Terms of Reference ...................................................................................... 2 3 Disclaimer ..................................................................................................... 2 4 Property Location and Description ............................................................. 2 5 Access Infastructure and Resources ......................................................... 7 6 Climate and Physiography .......................................................................... 7 7 Geological Setting ........................................................................................ 7 7.1 Regional and Local Geology ............................................................................ 7 7.2 Property Geology ............................................................................................. 8 7.3 Alteration and Mineralisation ............................................................................ 9 8 History of Exploration on the Property ..................................................... 10 8.1 Early Exploration ............................................................................................ 12 8.2 The 1970’s Through 1990’s ............................................................................ 12 8.3 Recent Exploration ......................................................................................... 13 9 Current Program ......................................................................................... 15 9.1 Diamond Drilling ............................................................................................. 15 10 Sampling and Analytical Methods ............................................................ 16 10.1 Diamond Drill Core Sampling Method and QA/QC ......................................... 16 10.2 Sample Preparation and Analytical Methods .................................................. 16 11 Results ........................................................................................................ 16 11.1 Diamond Drilling ............................................................................................. 17 12 Interpretations and Conclusions .............................................................. 17 13 Recomendations ........................................................................................ 17 13.1 Proposed Exploration ..................................................................................... 18 13.2 Proposed Budget ............................................................................................ 18 14 Statement of Expenditures ........................................................................ 18 15 Work Schedule ........................................................................................... 19 16 References .................................................................................................. 22 16.1 Documents ..................................................................................................... 22 17 Statement of Qualifications ....................................................................... 25 List of Tables i Table of Contents Table 1. Vanguard Property Land Tenure Data .................................................................... 3 Table 2. Vanguard Property Exploration History ................................................................. 10 Table 3 Significant Intersections Vanguard East &West .................................................... 13 Table 4. Current Program Diamond Drill Hole Data ............................................................ 15 Table 5. Current Program Significant Results ..................................................................... 17 Table 8. Winter 2007 Vanguard Property Exploration Expenditures ................................... 18 Table 9. Winter 2007 Vanguard Property Field Work Schedule .......................................... 19 Table 10. Winter 2007 Vanguard Property Office Work Schedule ........................................ 21 List of Figures Figure 1. General and Regional Location Map ....................................................................... 5 Figure 2. Vanguard Property Claim Disposition Map ............................................................. 6 Figure 3a. West Vanguard Property Geology Map .................................................................. 7 Figure 3b. Legend for West Vanguard Property Geology Map ................................................ 7 Appendices I. Diamond Drill Hole Logs II. Diamond Drill Hole Assay Certificates List of Maps and Sections Map 1 DDH Locations and Geology; 1:5000 Map Pocket VAN-07-002 Vertical Section; 1:250 Map Pocket VAN-07-003 Vertical Section; 1:250 Map Pocket VAN-07-004 Vertical Section; 1:250 Map Pocket VAN-07-005 Vertical Section; 1:250 Map Pocket VAN-07-006 Vertical Section; 1:250 Map Pocket VAN-07-007 Vertical Section; 1:250 Map Pocket VAN-07-008 Vertical Section; 1:250 Map Pocket VAN-07-010 Vertical Section; 1:250 Map Pocket VAN-07-011 Vertical Section; 1:250 Map Pocket VAN-07-012 Vertical Section; 1:250 Map Pocket VAN-07-013 Vertical Section; 1:250 Map Pocket VAN-07-017 Vertical Section; 1:250 Map Pocket VAN-07-018 Vertical Section; 1:250 Map Pocket VAN-07-019 Vertical Section; 1:250 Map Pocket ii Winter 2007 Vanguard Property Diamond Drill Program 1 Introduction The following report summarizes the results from the Winter 2007 Exploration Program carried out on the Vanguard Property, situated in Northwestern Ontario, approximately 110 km west of the city of Thunder Bay. This property comprises fifty-three contiguous, unpatented staked claims, currently owned by Trillium North Minerals Ltd. (TNM); formerly named Canadian Golden Dragon Resources Ltd., (CGG). Exploration since 1945, and studies performed by the Ontario Geological Survey, have established the Volcanogenic Massive Sulphide (VMS) style of the mineralization at both the Vanguard (East and West) mineralized zones, located on the property - and at the North Coldstream mine located immediately southwest of the western border of the Vanguard property. The mineralization is located along a semi continuous exhalative horizon within a sequence of volcanic rocks, consisting of a central rhyolite flow dome complex flanked to the northwest and southeast by mainly fragmental volcanic rocks, varying in composition from rhyolite to basalt. The mineralization at Vanguard consists of layered massive sulphides with distinct copper and zinc rich zones. Extensive sodium depletion zones, caused by hydrothermal alteration have been documented. After the initial testing of mineralized outcrops with stripping and diamond drilling, historical exploration has relied mainly on geophysical techniques followed by diamond drilling. Historically, geophysical techniques used were ground and airborne EM and magnetic surveys; and only recently Induced Polarization. Historic prospecting records for the area between Iris Lake and East Coldstream and recent IP surveys done by Golden Dragon/Everett, clearly show that gold showings are correlated with chargeability highs. In the past, drilling appears to have been guided by; prospecting, EM surveys and magnetometer surveys but not IP surveys. A large portion of the chargeability highs associated with these gold showings have thus remained undrilled. A recent diamond drill hole by Canadian Golden Dragon targeting one chargeability-high intersected several intervals with anomalous gold contents. During the period November 29th, 2007 to February 27th 2008, work carried out on the property included attempted due diligence field checks of historic mapping, searches for historic drill collars, an HLEM survey on the eastern part of the property (to be Reported in a separate Assessment Filing), and the completion of 14 of 18 attempted diamond drill holes, totaling 1346 meters. These holes were drilled to test multiple geophysical targets in the historic West Vanguard portion of the property. This work was performed as a follow up on research and compilation generated targets, based on recent diamond drill hole testing and induced polarization surveys conducted by Canadian Golden Dragon and Everett Resources Ltd. Sample assays were not available at the time of writing this report, and will be included in a follow-up Assessment Filing. Limited conclusions and recommendations are offered at the end of this report. Page | 1 Winter 2007 Vanguard Property Diamond Drill Program 2 Terms of Reference The background sections of this report are in part an extract of a report titled “Technical Report on the Vanguard Property” dated June 27th, 2007, for Everett Resources Ltd., by J. Garry Clarke (“Clarke”); The report is being prepared as part of the reporting requirements necessary to file for assessment credit with the Ontario Ministry of Natural Resources and Mines. All technical reporting has been reviewed and, where necessary, edited