STRATEGIC INVESTMENTS

GOLD

Nuinsco has a 9% interest in Gold Hawk Resources (TSX:CGK), a precious and base metals producer at its Coricancha mine in Peru. Gold Hawk acquired the project in March, 2006, and reached commercial production in October, 2007. Production is expected to resume from the Coricancha Mine in 2009.

COPPER

Along with equity and royalty interests, Nuinsco has a 50% interest in future cash flows from the high-grade Corner Bay copper deposit near Chibougamau, Quebec (M&I resource: 446,000 tonnes @ 5.58% Cu; Inferred: 1.44 million tonnes @ 6.76% Cu) which is owned by Campbell Resources Inc.