Wellgreen Project Preliminary Economic Assessment ... - OTCIQ.com

4.0 PROPERTY DESCRIPTION AND
LOCATION
The Property is located approximately 317 km northwest of Whitehorse in south
western Yukon, at an approximate latitude: 61°28’N, longitude: 139°32’W (Figure
4.1) on NTS map sheet 115G/05 and 115G/06. Kluane National Park lies 25 km to
the south. The Property lies within the Kluane Game Sanctuary.
The Property consists of four groups of claims (Figure 4.2).
The description below and the list of claims provided in Appendix A have been
derived from records and information supplied by Prophecy Platinum and sourced
from the Yukon Mine Recorder.
The Property is comprised of 371 claims, nominally 6,415 ha, which incorporates the
known Wellgreen deposit. The claims were staked as early as 1952. Each claim is a
Quartz Mining Lease and have expiry dates that ranged from August 2012 to
February 2028. In Yukon, all hard rock mining claims (excluding coal) are
administered through the Quartz Mining Act (QMA). A mining claim provides
exclusive rights to the holder of the claim for the mines and minerals located within
the area of that claim. The QMA also confirms that a claim holder has the following
rights in relation to the minerals contained within the claim:
• the right to enter on and use and occupy the surface for the efficient and
miner-like operation of mines and minerals
• the right to commercially produce a mineral and benefit from the sale of the
mineral.
Prophecy Platinum Corp. 4-1 1193460500-REP-R0001-02
Wellgreen Project Preliminary Economic Assessment,
Yukon, Canada