Lened Tungsten

In early February 2006, Playfair acquired 100% interest in a suite of advanced-stage tungsten properties located in the Yukon Territory and the Northwest Territories; they are the Risby, Lened and Clea tungsten properties.

The Lened deposits are scheelite-bearing skarn occurrences located between the world-class Cantung and Mactung tungsten deposits along the Yukon- Northwest Territories border. A winter road from the town of Tungsten to the Howard's Pass lead-zinc deposit passes within 13 km of the Lened property which is some 40 km north-northwest of Cantung. Extensive property work by Union Carbide Corporation includes 168 historical drill holes totalling 23,019 metres (75,522 feet). In 1982 Union Carbide calculated "total mining reserves"* of 18.5 million pounds of tungsten oxide. These "reserves"* occur in three separate but closely related bodies called Western, Stephens and Emma and were calculated by five separate methods. There are a total of 18 known tungsten showings on the property and two of these appear to have significant potential, for example an intersection of 1.75% WO3 over 5.4 metres is reported in one of these locations.

Property	Classification	Cut-off Grade %WO3	Tonnes	Grade WO3 %	Pounds WO3	MTU's	Company
Lened	Historic Resource*	0.4	737,000	1.14	18,523,050	840,200	Union Carbide 1986

* 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.