In addition to the Grey River and Risby tungsten deposits, Playfair owns two additional high-grade tungsten deposits, in Canada, and together containing over 23 Million pounds of historical resources estimates* that pre-date NI 43-101 but that have been delineated by well-established mining companies.

Playfair's property portfolio also includes Granite Lake; an exciting molybdenum and tungsten exploration project, located in the centre of Newfoundland. Playfair recently announced early results from the late 2007 drilling campaign. Hole 23 encountered very significant molybdenum mineralization through its entire length: 167.1 metres grading 0.054% MoS₂ (0.033% Mo), included within this intersection is 58.5 metres grading 0.083% MoS₂ (0.050% Mo). The winter 2008 drill program continues to test this intriguing new discovery.

NI 43-101 Compliant Resource Estimate (2007)

Property	Classification	Cut-off Grade %WO 3	Tonnes	Grade WO 3 %	Pounds WO 3	MTU's	Company
Grey River #10 Vein	Inferred Resource	0.2	852,000	0.86	16,153,700	732,700	Wardrop 2007
Risby	Inferred Resource	0.2	6,385,000	0.462	65,043,600	2,950,200	Wardrop 2007

Historic Resource Estimates*

Property	Classification	Cut-off Grade %WO 3	Tonnes	Grade WO 3 %	Pounds WO 3	MTU's	Company
Lened	Historic Resource*	0.4	737,000	1.14	18,523,050	840,200	Union Carbide 1986
Clea	Historic Resource*	0.5	257,000	0.93	5,269,000	239,000	Placer Dome 1980

* * Estimates of tungsten resources are historical in nature, predate and are noncompliant with NI 43-101. Playfair is not treating the historical estimate as current mineral resources or reserves. Playfair has not undertaken any independent investigation of the resource estimates nor has independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Playfair believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.