Nevada Project History

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CANTEX MINE DEVELOPMENT CORP YEMEN
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YEMEN EXPLORATION SUMMARY

• Commenced in 1996
• 52,000 km2 explored

• 3 project areas drilled
• US17M expended

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MINERAL DISCOVERIES IN YEMEN

• Al Hariqah (Au)
• Suwar (Ni, Cu, Co)
• W. Qutabah (Ni, Cu, Co, PGE)
• Al Masnaa (Ni, PGE)
• Al Fayad (Au)
• Indications of other mineralization

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Al Hariqah - Au
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Al Hariqah - Geology
1000 m
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Al Hariqah Gold in Soil
1000 m
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(No Transcript)
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(No Transcript)
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Al Hariqah Cross Section
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Al Hariqah Cross Section
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PART OF THE AL HARIQAH GOLD DEPOSIT LOOKING NORTH
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Al Hariqah Gold Deposit Looking North
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Al Hariqah Gold Deposit

• Assuming 40Mt at 1.65 g/t
• Revenue of US 1,320 million
• Profit of US 680 million
• Potential IRR of 21
• If there are 60Mt at 1.65 g/t
• Revenue of US 1,980 million
• Profit of US 1,100 million
• Potential IRR of 33

As of April 2007
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Suwar Ni, Cu, Co
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Ni-Cu-Co mineralization over 1,200 2,700m with
potential in ground value of US12 to 30 billion.
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Regional Setting of the Suwar and Wadi Qutabah
Deposits

• Layered mafic complex (like Sudbury)
• Indications of additional mineralized bodies

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CENTRAL PART OF SUWAR NICKEL DEPOSIT
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SUWAR PLAN SECTION

• UTEM anomaly of 1.1 km
• 27 diamond drill holes
• Inferred mineralized zone 2.7 km x 140 m x 30 m
• Drilled mineralization over 1,100m with potential
  for 2,700m
• Mineralization typical of that found in other LMC
  (Sudbury, Jinchuan)

1000 m
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Suwar Longitudinal Section
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NW
SE
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(No Transcript)
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SUWAR PROJECTIN GROUND METAL VALUES IN DRILL CORE
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POTENTIAL INGROUND VALUE OF THE SUWAR NICKEL,
COPPER, COBALT DEPOSIT
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SUWAR NICKEL DEPOSITCONCLUSIONS

• 1100 m of strike tested in a zone 2,700 m long
• Discovered Ni grades are comparable to some other
  large Ni mines in the world
• Potential exists for the discovery of a world
  class Ni deposit
• Potential in ground value of US 12 to 30 billion
  

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Wadi QutabahNi, Cu, Co, PGE
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Sample highly anomalous in PGEs Drill hole
location
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Al Masnaa Ni, Cu, Co, PGE
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(No Transcript)
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Geophysics
Intersection of 7.6 Ni, 1.2 Cu over 0.39m
Intersection value is US4,000 / t
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Nickel and Rhodium
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Copper and Cobalt
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Platinum and Palladium
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AL MASNAA NICKEL PROJECTSOUTH HALF OF ANOMALOUS
AREA
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POTENTIAL INGROUND VALUE OF THE AL MASNAA
NICKEL, COPPER DEPOSIT
Assumes an average grade of 1 nickel and 0.4
copper. No allowance made for other metals.
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• Al Fayad - Au

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Gold
Arsenic
Qtz rich sericite schist
Amph Bt Schist
Qtz Eye Porphyry
800 m
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Global Conclusions - Yemen

• 2 potential major nickel resources discovered
  with conceptual in ground metal values of US 12
  to 30 billion
• 2 to 3 Million oz potential gold deposit