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Milligan Property

The Milligan property contains 16 claim blocks comprising approximately 129.5 hectares (320 acres) located in Milligan Township approximately 75 km northeast of Timmins Ontario (Figure 1). The property is 100% owned by the Company, is royalty-free, has excellent year-round all-weather road access and is drill-ready.

Figure 1 - Location of Milligan Claims

The property is concentrating on the southeast extension of the volcanic stratigraphy hosting the Eastford Lake gold discovery1 (Lynx Zone) of 142.2 g/t gold over 3.0m announced by Explor Resources Inc. in 2009. The Eastford Lake discovery lies within the Abitibi greenstone belt of mafic and ultramafic volcanic assemblages. Multiple intrusions of quartz/feldspar porphyry host rocks with associated pyritic shear zones with strong anomalous gold values have been intersected in the area surrounding the discovery. The main discovery zone (hole #7) known as the Lynx gold zone targeted a 600m long strong magnetic low signature that returned 12.0m @ 16.6 g/t gold and 1.5m @ 5.7 g/t gold. The Lynx zone is traversed by a wide corridor of strongly developed northwest - southeast trending shear zones which span a width of at least 500m. It is thought that this wide shear complex may constitute a potential splay off the gold rich Destor-Porcupine Fault zone to the south. The shear zone is strongly altered with sericite, silica and iron carbonate and hosts 1 - 10% pyrite with weakly to moderate (0.2 - 5.7 g/t) gold mineralization (mndm files 20000007675/20011335, Figure 2). Individual shears vary in thickness from 3.0 -10.0 m with high grade veins (16.6g/t gold) formed in tension fractures or as stockworks resulting from pressures applied within these shear zones.

Figure 2 - Location of Milligan Property

The past discovery of the Lynx Gold Zone by Explor Resources Inc. represents a new gold discovery in this largely unexplored area. RT Minerals acquired the Milligan property after an interpretation of several past extensive exploration programs were conducted along the extension of favorable geology towards the southeast away from the discovery. This past work was completed by previous operators.

Golden Chalice Resources completed one particular comprehensive geophysical magnetic and I. P. program over the Milligan property in 2010. An extension to the program was added and several drill holes were subsequently completed on the survey (mndmfiles 20000000182, Figures 3, 4 and 5).

Figure 3 - Golden Chalice Resources Geophysical Magnetic and IP Survey Targets and Drilling

Figure 4 - Golden Chalice Resources Geophysical Magnetic and IP Survey Targets and Drilling

Figure 5 - Geophysical Magnetic and IP Survey Targets

The Lynx zone is defined by a 600m long low magnetic signature corridor that trends towards the southeast and the Milligan property. The predominant low magnetic trend continues through the survey over the Milligan claims and progresses southeastward. There are several additional intense magnetic low regions within the corridor and they may represent a felsic intrusive such as a porphyry stock within a region of a favorable geological setting for future exploration. Several VLF EM anomalies occur within the magnetic low corridor and all trend southeastward across the survey (Figures 3 and 4). The axis anomalies may represent several individual shear structures containing an alteration zone of magnetic depletion or where a shear zone intersects a porphyry complex. These features warrant further exploration (Figure 5).

Two diamond drill holes GCAE09-05 and GCAE09 -06 were located in the northeast corner of the survey within the prominent low magnetic signature corridor. I.P.axis / VLF EM anomalies were targeted. Drilling intersected what is to be believed as the southeast extension of the volcanic stratigraphy hosting the Lynx deposit. Two gold intercepts were returned from hole GCAE09-05 including 1.52 g/t Au over 0.50m (23.4 -23 .9 m downhole) and 1.95 g/t Au over 0.7m (91.9 - 92.6m). Hole GCAE09-06 located 300m further southeast of GCAE09-05 intersected 1.85 g/t Au over 0.8m ( 236.7 - 237.5m) (mndmfiles 20000000182). Additional anomalous gold intercepts are shown in Table1. The gold mineralization occurs within sulphidic quartz flooded zones in carbonatized ultramafic and in ankeritic- sericitic altered pillow basalts. Hole GCAE09-06 also intersected individual sections of feldspar porphyry intrusive that was observed at the Lynx discovery.

Table 1 - Golden Chalice Resources Holes GCAE09-05 and GCAE09-06

The magnetic low signature corridor continues further to the southeast where it is completely truncated by a large east-west trending diabase dyke. Several deep magnetic low signature anomalies remain untested on the Milligan property. Another government magnetic survey exhibits at least two deep magnetic targets immediately in front of the diabase dyke (Figure 6, mndmfiles M80577). No drilling exists in this area or further to the southeast and beyond. Exploration efforts subject to financing will concentrate within the low magnetic signature corridor between the two diamond drill holes GCAE09-05 and GCAE09-06 to the northwest and the diabase dyke to the southeast. The magnetic lows with coincident I.P. axis / VLF EM anomalies will be targeted.

Figure 6 - Additional Magnetic Targets

1The Milligan property owned by the Company is an exploration target with no resources or reserves and is not known to host like-mineralization as is present at Eastford Lake gold discovery.

Qualified Person

The technical information contained in the above text has been reviewed and approved by Mr. Garry Clark, P.Geo., a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.