The property covers most of the northern portion (northern contact and main body) of the River Valley mafic intrusion and represents the largest single land-holding and exploration budget for all of PFN's properties.

The work on the River Valley property for the past 4 years has concentrated on locating and defining PGM mineralization along the northern brecciated contact of the intrusion. This potential contact zone now extends for some 15 kilometers. 

Current measured resource is 8.53 million tones containing 353,200 ounces of palladium (1.29 g/t), 116,800 ounces of platinum (0.43 g/t) and 20,400 ounces of gold (0.07 g/t) and an indicated resources of 22.02 million tonnes containing 600,700 ounces of palladium (0.85 g/t), 212,800 ounces of platinum (0.30g/t) and 39,000 ounces of gold (0.06 g/t) with an additional inferred resource of 2.39 million tones containing 67,000 ounces of palladium (0.87g/t), 23,800 ounces of platinum (0.31g/t) and 4,000 ounces of gold (0.05 g/t) using a 0.7 g/t cut off (pt/pd) (PFN press release March 2006) . The objective of the 2006 $1.1 million Phase 9A budget was to extend the new Platinum Group Metal mineralized horizons discovered during the 2005 fieldwork and to better understand the structural controls on the mineralization. A $250,000 budget for the 2009/10 work program which includes a geochemical study that is currently underway to develop a genetic model and define exploration strategy for high grade ore. The study will include an evaluation of full PGM suite including Rhodium in order to improve economic modeling of the project.