The 100% owned Crackingstone property is located in the Beaverlodge area on the north shore of Lake Athabasca and 8 km. SW of Uranium City, Saskatchewan.

Northern Saskatchewan has the richest and largest reserves of uranium in the world. It is important to remember that the Beaverlodge area along the north shore of Lake Athabasca was and still is an important metallogenic province of uranium.

Historic work in the area dates back to the 1950’s. From 1953 to 1982, sixteen deposits were brought into production in the Uranium City area. The bulk of uranium production in the Beaverlodge area came from the Ace-Fay, Verna- Bolger, Hab, Rix Smitty, Cinch Lake, Cayzor, Dubyna Lake, Gunnar and other small deposits for a total production of 70,250,000 lbs U3O8 averaging 0.24 % U3O8. The grades ranged from 0.18% to 0.43%.

The largest deposit was the Ace-Fay Deposit which produced 30,000,000 lbs of U3O8. The Cinch Lake and Rix Smitty and Leonard, St Michael and Cayzor deposit are located within the Black Bay Shear Zone. Most of the uranium deposits and occurrences are contained within brittle and brittle-ductile fractured and sheared rocks

Faults & Uranium Mines

Most of the uranium deposits in this region are associated with faults as the faults provide ample fractured ground for hosting uranium mineralization.

The main northeast-trending fault in the region and in the property area is the Black Bay Fault which forms a well marked obsequent fault scarp along the shoreline of the Crackingstone peninsula.

There are at least 4 major northeast-trending strike faults located west and parallel to the Black Bay Fault. They are starting east from the Black Bay Fault, Boom Lake Fault, Chance Lake Fault, Spot Lake fault and the Powerline Creek Fault.

Four additional faults merge and/or cross-cuts these faults. They are the Jean Lake, Leonard and Crackingstone Faults and an unnamed fault striking westerly from Nero Lake east of the property.

The Chance Lake, Boom Lake, Crackingstone Creek and the Nero Lake fault strikes through the property in an easterly direction. Many of the known pitchblende showings on the property and surrounding area are located near these faults. These faults appear to have been reactivated several times to provide ample fractured ground for hosting the uranium mineralization.

The intersection of the east northeast Crackingstone fault with the northeasterly Chance and Boom Lake Faults should be an excellent area for multi-directional brecciation and for the deposition of uranium mineralization.

Similarly, the intersection of the Boom Lake fault with the Nero Lake Fault and all other northeasterly faults should also be a suitable target for uranium mineralization

Mineralogy and Geochemistry of the Uranium Deposits

There are four types of uranium deposits in the Beaverlodge area.

1) Pegmatite deposits (dyke-like pegmatites and pegmatites in migmatite zones.

2) Uraninite in country rock.

3) Pitchblende deposits with complex mineralogy.

4) Pitchblende deposits with simple mineralogy.

note: Uraninite, formerly pitchblende, is a radioactive, uranium-rich mineral and ore with a chemical composition that is largely UO2

The property is known to contain mostly the 4th type and one of the 2nd type.

The occurrences are at various levels of development from preliminary to advanced exploration development. Several occurrences have reported high grades and warrant further work.

Uranium Showings

Beck 48 – Adit

In 1958 the showing was high graded by Mr. E. Kull, who drove a short adit from the base of the base of Trench #1 westward towards trench #2. The broken rock was hand cobbed and 11 tons were shipped to the Lorado mill grading 2.3% U3O8.

In 2006 Belmont collected 4 samples from this location 336913 to 336917 containing 0.28%, 0.40%, 6.55% and 0.78% Uranium

18 uranium showings were located on the Property and two bulk samples were taken from two showings located on the property. The first was a 46 ton hand sorted bulk sample from the Amax’s 50-CC1-80 showing assaying 0.5% U308.

A second 6.5 ton hand sorted bulk sample, was extracted from Mylo’s Lease (Rix #49-CC1-4) assaying 0.5% U308. Rix Athabasca Uranium Mines Ltd. reported a grab assay of 12.53% U308 from the Rix #59 showing located in the southwestern portion of the property.