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Fiedmont PGM Property The Fiedmont Property consists of
84 claims totaling 3456 ha located approximately 30 km north of
Val d'Or, Quebec, and approximately 360 km northwest of Ottawa,
Ontario (Map 1). Val d'Or is a vibrant community with a
long history of mining in the area. The "Valley of Gold" has
seen significant mining operations dating back to the opening of
the Sullivan Mine in 1911, and the town has played a major role
in the development of the Quebec mining industry for almost a
century. Given this history, the mining-related technical
resources and infrastructure foundations in the area are second
to none.

PFN optioned the Fiedmont property from Kinbauri Gold Corp. (KNB)
in late 2008. Under the terms of the option agreement, PFN will
pay an aggregate of $98,000 and 150,000 common shares to KNB,
and complete 400,000 in work expenditures to earn 60% interest
in the property by November 30, 2010. Upon completion of the
earn-in, PFN and KNB will form a joint venture to further
develop the property.
Platinum Group Metals (PGM) were discovered on the property in
2001 by geologists R.J. Tremblay and T. Cole, after road
construction revealed new outcrops carrying sulphide
mineralization. KNB optioned the property from the discoverers
in late 2005, and completed limited exploration work on the
property in 2006-2008.
The property overlies a differentiated mafic ultramafic
intrusive complex mapped by Géologie Québec, Ministére des
Resources naturelles et del la faune, Québec (Map 2). An
airborne magnetometer survey completed by KNB suggests that the
intrusion as mapped is actually part of a much larger complex
situated on the property.

A total of five PGM showings have been identified on the
property. Four of these showings lie along a magnetic high that
appears to be coincident with the northern contact of the
intrusion. The fifth showing is coincident with a magnetic high
that lies along the eastern boundary of the complex.
PGM values at the original showing ranged up to 4g/t Pt+Pd.
Values from the other showings ranged up to 6.7g/t Pt+Pd,
4.57g/t Pt+Pd. 1.17g/t Pt+Pd. and 5.7 7g/t Pt+Pd. Mineralized
zones sampled at surface by Kinbauri gave results of 0.46g Pt/t
and 1.44g Pd/t over 2m; 0.75g Pt/t and 1.52g Pd/t over 4m; 1.52g
Pt/t and 4.21g Pd/t over 1m. The PGE mineralization occurs in
dark, very hard, fine to medium grained silicified diorite to
gabbro; containing 1% to 7% disseminated pyrrhotite and pyrite,
and subordinate chalcopyrite.
In 2006, KNB drilled four short diamond drill holes totaling 240
meters beneath four of the showings to document the continuity
of the surface mineralization. Significant PGE intercepts
include:
Diamond Drill Hole KNB06-01 (Tower West Showing);
• 1.21 7g/t Pt+Pd over 8.6m beginning at 44.4m and including
1.76 7g/t Pt+Pd t over 2m.
Diamond Drill Hole KNB06-02 (Tower Showing);
• 0.89 7g/t Pt+Pd over 5.5m beginning at 20m and including 1.05
7g/t Pt+Pd over 3.5m.
Diamond Drill Hole KNB06-03 (Windfall Showing);
• 1.48 7g/t Pt+Pd over 5m beginning at 48.8m and including 1.69
7g/t Pt+Pd over 1m and 2.77 7g/t Pt+Pd over 1m
KNB has recently collected approximately 1800 humus samples over
the property during the course of a geochemical survey designed
to identify additional zones of mineralization, and document
trends amongst the known mineralization. An interpretation of
this survey is currently underway.
PFN plans to drill-test targets based on geology, geophysics and
geochemistry starting in late January 2009. The initial phase of
drilling will test known mineralization at deeper levels, and
the strike continuity of the mineralized zone on the north
boundary of the intrusion.
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