Peter's Roost Property

Overview:

Crowflight maintains a 100% undivided interest in 884 mining claim units totaling 442 square kilometres in surface area. These mining claim units are distributed over 7 townships located between the towns of Capreol and Cartier approximately 40 kilometres north of the City of Sudbury.

The Property covers prospective portions of east-west trending corridors running parallel to the North Range footwall contact of the Sudbury Intrusive Contact (SIC, Sudbury Basin) and potential north-south trending Offset structures. These corridors and structures are interpreted to be prospective for the occurrence of Offset Type nickel-copper-PGM and Volcanogenic Massive Sulphide (VMS) Type copper-zinc-silver-gold mineralization.

Despite the proximity of the property area to the SIC and identified occurrences of favourable and prospective rock types, little previous exploration work had been conducted in the area. There are no records indicating that the area had previously been covered by a modern airborne geophysical survey.

In June 2004 Fugro complete a 620 square kilometre airborne magnetic/transient electromagnetic (Megatem) survey over the property area. The survey was successful in identifying numerous conductive features interpreted to be prospective indicators of buried metal sulphide deposits.

In December 2004 Crowflight completed ground geophysical and geochemical surveys over several of the strongest conductive airborne targets. The surveys confirmed the location of the airborne targets on the ground and defined several drill targets maintaining potential to be associated with VMS Type mineralization.

In late 2005 Terrageos Remote Sensing completed a comprehensive review of multi-spectral satellite data (ASTER) covering the project area. The goal of this work was to identify and characterize structural lineaments and their relationship to the Sudbury structure and known occurrences of Offset Dike material in the north-range footwall. This work was successful in identifying several previously unrecognized lineament trends maintaining good potential for hosting Offset Type nickel-copper-PGM mineralization.

Several of the conductive targets identified by the 2004 Megatem survey were subsequently found to occur coincident with structural lineaments and the intersection of lineament features identified by the Terrageos study. Several additional claims were staked early in 2006 to cover these newly identified targets.

Crowflight is filing assessment work sufficient to keep all properties with identified exploration targets in good standing until 2008.

Objectives:

Discover economic concentrations of nickel-copper-PGM and/or Copper-zinc-silver-gold mineralization through application of efficient, advanced exploration procedures and technologies.

Agreement Terms:

Crowflight holds a 100% interest in all mining clim units through having staked this ground and having performed sufficient work so as to maintain its interest in these claim units until at least 2008.

Exploration Activities:

The Company has completed an airborne MegaTEM II geophysical survey of the property, and believes that several geophysical anomalies detected exhibit characteristics commonly associated with multi-million tonne, shallow massive sulphide lenses. The Company completed a field program to corroborate the geophysical evidence on the ground, using prospecting, geological mapping and a Transient EM detailed ground geophysical survey. Several promising drill targets have been identified.

Going forward, and in light of Crowflight's committments in the Thompson Nickel Belt, including the financing and development of the Bucko Deposit, the Company will look to enter into a joint venture agreement with a third party whereby such third party will fund future exploration activities in order to earn an interest in the Peter's Roost Property. Should such efforts fail to result in a joint venture agreement, Crowflight will look to fund advanced exploration from cash flows from the Bucko Deposit, Manitoba once in production or other cash as it becomes available.