3 rd Year Assessment Report on - Newfoundland and Labradorgis.geosurv.gov.nl.ca/geofilePDFS/Batch2013/001M_0757.pdf3 rd Year Assessment Report on Prospecting, Rock and Soil Sampling

3 rd Year Assessment Report onProspecting, Rock and Soil Sampling and Radiometric Survey

Rencontre Brook, Moly-Uranium Property, Southern Newfoundland

Lin. # 012360M (One Blocks)Lin. # 012361M (Four Blocks)Lin. # 012368M (Three Blocks)

Lin. # 013013M (Ten Blocks)

Map Sheet 01M/11

Submitted by:

Gary Lewis

for:

Alterra Resources Inc.

November 20, 2009

Work year: 2008-9

Lin. # 012360M (One Blocks) Total expenditures: $472.72 Lin. # 012361M (Four Blocks) Total expenditures: $1,89.86 Lin. # 012368M (Three Blocks) Total expenditures: $1,418.15

Lin. # 013013M (Ten Blocks)Total expenditures: $4,727.17 Total Claims Nineteen

TABLE OF CONTENTS

Page

I. Introduction 1

II. Location & Access 1

III. Physiographic Setting 1

IV. Previous Work 5

V. Geology & Mineralization 7 VI. Prospecting 2008-9 11

VII. Conclusions & Recommendations 11

VII. References 12-15

VIII. Expenditures 16FIGURES

Fig. I. Property Location 2

Fig. II. Claims Location 3

Fig. III. Geology Contact 6 Fig. IV Sample & Traverse Location Map 8-10

APPENDICES

Page 1Introduction

The Rencontre Lake , Ackley Granite Properties were stake to determine the concept that thecontact of the granite and the volcanic rock may host Molly and or Uranium deposits. .Location and Access Lic012361m

Region: Newfoundland

UTM Zone: 21

Easting: 634530

Elevation (m): 306.0

NTS Area: 01M/11

Northing: 5283570

Location Uncertainty (m): 1.0m

The Ackley City showing is on the west side of Rencontre Lake in an embayments of the graniteinto the rhyolite.

The property can be accessed by four means. Via helicopter from Conne River, Snow machinefrom the local highway in the late winter, or Via ferry service from Pool’s Cove and by floatplane.

PHYSIOGRAPHIC SETTING

The area is characterized be an extensive plateau that is relatively treeless. Numerous bogs andponds dot the area.

Both areas are set on the slope of a large plateau. It is characterized by a treeless terrane. The areais well drained with numerous streams running into Rencontre Lake.

Figure I

(Property Location)

Page 2

Figure II

(Claims Location)

Page 3

FIG III(Geology and Contact Map)

Page 4

Page 5

Previous Work

HISTORY OF EXPLORATION AND DEVELOPMENT

Molybdenite was discovered near Rencontre East previous to 1882 for in that year it is reportedthat Mr. Brocton, a mining captain of St. John's, and Mr. Tilley of Kelligrews, examined andsampled the showings for Steers Limited. In 1900, Blackwell and Company of England sent Mr.Wesley and Mr. Holiday to examine and develop the deposit. They did hand drilling and openeda few shallow pits from which a small amount of fairly high grade ore was recovered and taken away.In 1908, the Butler Brothers of Topsail, former owners of the iron deposits on Bell Island,Conception Bay, visited the deposits and staked some claims in 1910. They did some handdrilling, blasting and sampling.In 1915, an American mining engineer from New York examined the property and made acontract with the owner. No work was done, for the government prohibited the exploration ofmolybdenite to neutral countries.In 1926, F. Turner of, St. John's visited the deposit on behalf of the government. He drilled andblasted a few holes to obtain samples. In 1934, the deposit was examined by C.K. Howse of theDepartment of Natural Resources. In 1934, Leonard Mullins and other associates of Rencontrestaked the deposit for the Lucky Strike Syndicate of St. John's but no assessment work was doneand the claims lapsed.In 1935, J. R. Wylie, Jr. mapped the Rencontre, Crow Cliff and Wylie Hill deposits for Dana andCompany of New York. The result of his work was so encouraging that, in 1936, the samecompany sent Dr. W. S. Smith and Henry Cornwall to map the contact of granite and rhyolite,along which the molybdenite occurs, from Belle Bay on the west to Wylie Hill on the east.Cornwall made a geological map of the contact from Belle Bay on the west to Wylie Hill on theeast. On a scale of 500 feet to l inch. He also prepared contoured geological maps of theRencontre and Wylie Hill deposits on a scale of 100 feet to l inch. As the surface samplingshowed the Rencontre (Ackley City) deposit to have the best combination of area and grade,underground development started from the fall of 1936 until the summer of 1938. A 54.8 m aditwas driven at an elevation of 6 m above lake level. A shaft was sunk to a depth of 19.8 m. About200.5 m of lateral work were carried out on the two levels. The result of the developmentindicated 113,375 tonnes of ore averaging 0.31 percent Mo.In 1937-38, D.E. White did a Ph.D. thesis in and around the area of the molybdenite occurrences.In 1936, a portion of the property (Fee Simple lots 1 to 7) was acquired by NewfoundlandMolybdenum Limited.In 1938, McKinstry, who examined the property for Lehman Brothers, New York, reported thatthe ore developed above the 18.3 m level is approximately 58,955 tonne averaging 0.35 percentMo. This tonnage consists of 21,768 tonne of 0.52 percent Mo above the tunnel level, and 37,187tonne of 0.225 percent below the tunnel level.

Page 6

In 1943 the Newfoundland government commenced a drilling program on the Ackley Cityprospect. This program was halted due to other drilling commitments and only 6 holes for a totalof 226.4 m were drilled. Five of the holes were collared in the hanging wall rhyolite, and onlyone reached granite. The only notable mineralization in the core was from hole no. 4 whichcollared in granite. In this hole a five-foot section assayed 0.85 percent Mo.The property was considered for production by the Canadian government during World War II.However, because of its location, the low proven tonnage, and the fact that the LaCorne minewas alleviating the shortage of molybdenum to some extent, plans for further development were abandoned.In 1953, the Newfoundland and Labrador Corporation Limited acquired a portion of the presentproperty. Caledon Mineral Company Limited obtained an option in 1958 and in the succeedingyear completed 20 short diamond drill holes on three of the prospects and carried out resistivityand bio-geochemical surveys over portions of the area.

It is believed that NALCO took over the Rencontre East prospects in the early 1960's from theprevious owners. They tried to interest large North American molybdenum companies in theprospects but apparently failed. NALCO optioned the Rencontre properties to Nortex Mines Ltd.in 1968.

In 1968, Canadian Javelin acquired an interest in the property and by an agreement dated August22, 1968 that company granted an option to Nortex Mines Limited. In September 1968, Nortexbegan a diamond drilling program to evaluate the economic possibilities of the Ackley City andWylie Hill deposits. To the end of May 1969, 1221.5 m of drilling in 11 holes has beencompleted at Ackley City, and 1434.9 m in 14 holes at Wylie Hill. Results of Ackley Citydrilling failed to indicate the presence of an ore body. In the drilling at Wylie Hill, the secondhole in the program returned an intersection of 19.7 m averaging 0.345 percent MoS2. Two otherholes 60.9 m and 182.8 m to the northeast failed to reach the mineralized granite horizon.Late in 1969 Nortex Mines Limited acquired the properties from Canadian Javelin and Nalco.

In 1981, L. Dickson and A. Howse collected samples for major element analysis in the RencontreLake and Sage Pond areas, on behalf of the Newfoundland Department of Mines and Energy.

Page 7Geology and Mineralization

REGIONAL GEOLOGY AND TECTONIC SETTING

Geological Province: Appalachian

Tectonic Zone: Post-Ordovician Intrusions

Stratigraphic Unit: Ackley Granite

Geological Age: Upper Devonian

Rock Type(s): Aplite

The dip of the contact between the Ackley Granite and Belle Bay Formation is 25 to 45 degreesoutward from the batholith. Aplite is present as the border phase along the contact andconcentrated mainly in three broad embayments of the batholith into the volcanics, namely WylieHill, Rencontre Lake and Motu areas.

The predominant joint system, believed to have occurred during the lava stage of themineralization are N80oE/80 N and 70o W.

The joint systems of N70o-90?E and N12o-20oE are predominant both in the batholith and in thevolcanics.

The Devonian - Carboniferous Ackley City Batholith of southeasternMINERALOGICAL COMPOSITION

Ore Minerals: Molybdenite, Sphalerite, Chalcopyrite, Barite, Fluorite

Gangue Minerals: Pyrrhotite, Pyrite, Quartz, Calcite, Chlorite

Fig. IVGeology, Sample and Reading Locations

Page 8

Fig. VGeology, Sample and Reading Locations

Page 9

Fig. VGeology, Sample and Reading Locations

Page 10

Page 11

Prospecting 2008-9

A total of six man days were spend accessing and prospecting the property for Uranium and moly

mineralization. Traverses were carried out on the property. scintolometer were carried and spot

checks were carried out to test the property for its uranium potential.

No readings above 5000 cps were recorded so no samples were assayed

for uranium and the existing showing have been sampled.

Scintolometer Readings lic 012361m

Northing Easting Reading(cps) Northing Easting Reading(cps)

636440 5285437 400 636329 5285465 450

636210 5285417 360 635946 5285399 420

6358585 5285066 500 635981 5285031 300

636011 5285002 350 636060 5284910 330

Scintolometer Readings lic 012361m & 012380m


634130 5283625 300 634293 5283607 380

634434 5283634 330 634537 5283583 360

634530 5283500 380 634335 5283509 330

Scintolometer Readings lic 013013m


649361 534048 380 649265 5304139 440

649035 5304158 390 648795 5304231 380

648809 5303989 400

Conclusions and Recommendations

An Air born survey needs to be flown for uranium, potassium and Thorium to locate alteration

zone and a Mag survey to located the contact at depth.

Detail ground follow up to truth the key areas for U, Th, K Ratios.

This contact area has the potential to host a large multi deposit for Mo and Uranium.

Page 12

Anderson, F D REFERENCES

1965: Geology, Belleoram, Newfoundland. Geological Survey of Canada, Preliminary Map, No.08-1965 [GSB# 001M/0065]

Douglas, C and Hsu, E 1976: Mineral occurrences, Belleoram, Newfoundland. Unpublished Map 76-16 MineralDevelopment Division, Department of Mines and Energy, Government of Newfoundland andLabrador Open File 001M/0146

Geological Survey Of Canada 1970: Belleoram, Newfoundland. Geological Survey of Canada, Geophysical Series Map, No.04511G [GSB# 001M/11/0099]

Smith, B L and White, D E 1971: Geology Of The Rencontre East Area. Geological Survey of Canada, Open File 50, 45pages. [GSB# 001M/11/0107]

Williams, H 1970: Geology Of Belleoram Map - Area, Newfoundland. Geological Survey of Canada, OpenFile 41, 59 pages. [GSB# 001M/11/0113]

ADELA, K. C., 1966: Molybdenite Occurrence in Newfoundland. Newfoundland and Labrador Corp. Ltd.[GSB# N/A]

Stewart, K J1958: Outline of known mineral occurrences within Newfoundland and Labrador Corporationconcessions. Private report of Nalco. [GSB# NFL/0111].

Bradley, D A and Read, W S 1955: Report on the sulphide veins in the Rencontre East area of Fortune Bay, Newfoundland.Newfoundland and Labrador Corporation Limited Unpublished report [GSB# 001M/0043]

Bradley, D A 1955: Report on molybdenite deposits of the Rencontre East area of Fortune Bay, Newfoundland.Newfoundland and Labrador Corporation Limited Unpublished report [GSB# 001M/11/0044]

Bumgarner, J and Rackets, J 1954: Report of examinations in the Long HARBOR-Amnesty Hills area, Newfoundland.American Zinc Company of Tennessee Unpublished report [GSB# 001M/0042]

Page 13

Dickson, W L and Howse, A F 1982: Geochemistry of whole rock and stream sediment samples from two mineralized areas ofthe Ackley Granite: Rencontre Lake molybdenite and Amnesty Hill molybdenite-cassiteriteprospects. Mineral Development Division, Department of Mines and Energy, Government ofNewfoundland and Labrador Open File 001M/0203, 17 pages.

Dickson, W L and Gibbons, R V 1983: Geology, geochemistry and mineral potential of the Ackley Granite and parts of the NorthWest Brook and eastern Meelpaeg Complexes, southeast Newfoundland [parts of map areas1M/10, 11, 14, 15, 16; 2D/1, 2, 3 and 7]. Mineral Development Division, Department of Minesand Energy, Government of Newfoundland and Labrador Report 83-06, 139 pages. [GSB#NFLD/1480]

Douglas, C and Hsu, E Y C 1976: Metallic mineral occurrences map of Newfoundland. Unpublished Map 76-2 MineralDevelopment Division, Department of Mines and Energy, Government of Newfoundland andLabrador Open File NFLD/0888

Fogwill, W D 1965: Report on molybdenite occurrences in the Rencontre area of Fortune Bay, Newfoundland.Newfoundland and Labrador Corporation Limited Unpublished report [GSB# 001M/11/0069]

Fogwill, W D 1970: Rencontre East molybdenite occurrences, Newfoundland. Unpublished report [GSB#001M/11/0102]

Harrison, W D 1953: 2 geology maps. Newfoundland and Labrador Corporation Limited Unpublished report[GSB# 001M/0029]

Hollister, V F, Potter, R R, and Barker, A L 1974: Porphyry-type deposits of the Appalachian Orogen. Economic Geology, Vol. 69, pages618-630. [GSB# 001M/11/0135]

Howse, C K 1936: Molybdenite in Newfoundland. Unpublished report [GSB# NFLD/0039]

Johnston, D 1962: Some metallic prospects on the Island of Newfoundland [a guide]. Mineral ResourcesDivision, Newfoundland Department of Mines, Agriculture and Resources Information Circularno. 10 [GSB# NFLD/0212]

Page 14

Kents, P 1965: Report on molybdenum zone in the Rencontre area, Newfoundland. Newfoundland andLabrador Corporation Limited Unpublished report [GSB# 001M/11/0068]

McKinstry, H E 1938: Report on examination of the Rencontre molybdenite deposit, Newfoundland. Unpublishedreport [GSB# 001M/11/0114]

Nolan, F J 1969: Report on molybdenite deposit in the Rencontre East area, Newfoundland. Norlex MinesLimited Unpublished report [GSB# 001M/11/0120]

O'Driscoll, C F and Strong, D F 1979: Geology and geochemistry of Late Precambrian volcanic and intrusive rocks ofsouthwestern Avalon Zone in Newfoundland. Precambrian Research, Vol. 8, No. ½, pages 19-48.[GSB# 001M/0175]

Quinn, H A 1944: Report on diamond drilling done. Unpublished report [GSB# 001M/0012]

Smith, B L and White, D E 1971: Geology Of The Rencontre East Area. Geological Survey of Canada, Open File 50, 45pages. [GSB# 001M/11/0107]

Smith, W S 1936: Report on Rencontre East molybdenite, Newfoundland. Unpublished report [GSB#001M/11/0028]

Snelgrove, A K and Baird, D M 1953: Mines and mineral resources of Newfoundland. Department of Mines and Resources,Mines Branch, Geological Survey Information Circular no. 04, 154 pages. [GSB# NFLD/0078]

Whalen, J B 1976: Geology and geochemistry of molybdenite showings of the Ackley City Batholith, FortuneBay, Newfoundland. MSc thesis, Memorial University of Newfoundland. 283 pages. [GSB#001M/11/0148]

Whalen, J B 1980: Geology and geochemistry of the molybdenite showings of the Ackley City Batholith,southeast Newfoundland. Canadian Journal of Earth Sciences, Vol. 17, No. 9, pages 1246-1258.[GSB# 001M/11/0220]

Page 15

White, D E 1939: Geology and molybdenite deposits of the Rencontre East area, Fortune Bay,Newfoundland. PhD thesis, Princeton University. 153 pages. [GSB# 001M/11/0006]

White, D E 1940: The molybdenite deposits of the Rencontre East area, Newfoundland. Economic Geology,Vol. 35, No. 8, pages 967-995. [GSB# 001M/11/0010] Williams, H

1970: Geology Of Belleoram Map - Area, Newfoundland. Geological Survey of Canada, OpenFile 41, 59 pages. [GSB# 001M/11/0113]

Mineral Rights Inquiry Report

Monday, November 23, 2009

Last Updated: 2009/09/29

Licence Number: 012361M

File Number: 774:7269

Original Holder: Hunter, Jeff

Licence Holder: Alterra Resources Inc.

Address:35 Glencoe DriveMount Pearl, NLCanada, A1N 4S5

Licence Status: Issued

Location: Rencontre Brook,Southern Nfld

Electoral Dist.: 13 Fortune Bay-Cape La Hune

Recorded Date: 2006/06/27

Issuance Date: 2006/07/27

Renewal Date: 2011/07/27

Report Due Date: 2009/09/25 (60 day extension granted)

Org. No. Claims: 4.0000

Cur. No. Claims: 4.0000

Recording Fee: $40.00

Receipt(s): 56172737 (2006/06/27) $40.00

Deposit Amount: $0.00

Deposit: No related security deposit receipt

Map Sheet No(s): 01M/11

Comments:

Reg 13; Genuine Prospector Year 1 Con 3 extension granted 2007.09.25. Report now due2007.11.24. Year 1 work report consists of prospecting and rock sampling. Reviewed anddata requested 2009.01.06 and 2009.05.12. Report accepted under Regulation 50 withadjustment to expenditures (to correct errors). Year 3 Con 3 extension granted 2009.10.05 -report now due 2009.11.24.

Mapped Claim Description:

Beginning at the Northeast corner of the herein described parcel of land, and said cornerhaving UTM coordinates of 5 285 500 N, 636 500 E; of Zone 21; thence South 1,500metres, thence West 500 metres, thence North 1,000 metres, thence West 500 metres, thenceNorth 500 metres, thence East 1,000 metres to the point of beginning. . All bearings arereferred to the UTM grid, Zone 21. NAD27.

Land Claims (effective 2005/12/01):

LISA: 0.00% LIL: 0.00% VBP: 0.00% Crown: 100.00%

Extensions: None

Work Reports:

Year Receive DateAcceptanceDate

ActualExpenditure

ClaimsSecurityDeposit

C2 Status

1 2007/11/29 2009/06/18 $1,840.00 4.0000

2 2008/09/25 $0.00 4.0000

$1,160.00 to be expended on this license by 2009/07/27






Original Holder: Chafe, Paul

Licence Holder: Alterra Resources Inc.

Address:35 Glencoe DriveMount Pearl, NLCanada, A1N 4S5







Report Due Date: 2009/09/25 (60 day extension granted)




Receipt(s): 56172744 (2006/06/27) $30.00


Deposit: 56172744 (2006/06/27) $150.00


Comments:

Year 1 Con 3 extension granted 2007.09.25. Report now due 2007.11.24. Year 1 workreport consists of prospecting and rock sampling. Reviewed and data requested 2009.01.06and again on 2009.05.12. Report accepted under Regulation 50 with expenditures adjusted.Staking security deposit (rec# 56172744) refunded 2008.02.04. Year 3 Con 3 extensiongranted 2009.10.05 - report now due 2009.11.24.


Beginning at the Northeast corner of the herein described parcel of land, and said cornerhaving UTM coordinates of 5 284 000 N, 634 500 E; of Zone 21; thence South 500 metres,thence East 500 metres, thence South 500 metres, thence West 1,000 metres, thence North1,000 metres, thence East 500 metres to the point of beginning. . All bearings are referred tothe UTM grid, Zone 21. NAD27.



Extensions: None

Work Reports:

Year Receive DateAcceptanceDate

ActualExpenditure


C2 Status

1 2007/11/30 2009/06/16 $1,705.00 3.0000

2 2008/09/25 $0.00 3.0000

$545.00to beexpended on thislicenseby2009/07/27

Licence Transfers:

New HolderTransferDate

FeeReceipt

NumberReceipt Date

Volume/Folio

Alterra ResourcesInc.

2008/02/21 22/226

Partial Surrenders: None

This Licence replaces Licence Number(s): None

This Licence is replaced by Licence Number(s): None

Work Report Descriptions:

Year GS File No. Description

1 001M/11/0691

Detailed breakdown of projected required expenditure:

Actual Year Actual Expenditure Work Year Excess Expenditure Claims

1 $1,705.00

1 $1,105.00 3.0000

2 $355.00 3.0000

2 $0.00

3 -$545.00 3.0000






Original Holder: Nidon Enterprises Ltd.

Licence Holder: Nidon Enterprises Ltd.

Address:

390 Grenfell Heights

Grand Falls - Windsor, NL

Canada, A2A 2J2







Report Due Date: 2010/09/27




Receipt(s): 56172736 (2006/06/27) $10.00


Deposit: 56172736 (2006/06/27) $50.00


Comments:

Year 1 Con 3 extension granted 2007.09.25. Report now due 2007.11.24. Year 1 work report consists of

prospecting and rock sampling. Reviewed and data requested 2009.01.07 and again 2009.05.12. Report

accepted under Regulation 50 will adjustment to expenditures. Staking security deposit (rec# 56172736)

refunded 2007.12.04.


Beginning at the Northeast corner of the herein described parcel of land, and said corner having UTM

coordinates of 5 284 000 N, 635 000 E; of Zone 21; thence South 500 metres, thence West 500 metres, thence

North 500 metres, thence East 500 metres to the point of beginning. . All bearings are referred to the UTM

grid, Zone 21. NAD27.



Work Reports:

Year Receive DateAcceptance

DateActual Expenditure Claims

Security

DepositC2 Status

1 2007/11/29 2009/06/16 $1,380.00 1.0000

2 2008/09/25 $0.00 1.0000

3 2009/09/25 $0.00 1.0000






Original Holder: Lewis, Donna

Licence Holder: Lewis, Donna

Address:390 Grenfell HeightsGrand Falls-Windsor, NLCanada, A2A 2J2


Location: Kane Brook,Southern Nfld





Report Due Date: 2010/03/31




Receipt(s): 56223487 (2006/12/31) $100.00


Deposit: No related security deposit receipt


Comments:

Reg 13; Genuine Prospector Year 1 Con 3 extension granted 2008.04.01. Report now due2008.05.30. Year 1 work report en route - to be filed 2008.06.19. - this is acceptable. Year 1work report consists of prospecting and rock sampling. Year 2 Con 3 extension granted2009.03.30. Report now due 2009.05.30. No report received - excess credits used to renewlicence.


Beginning at the Northeast corner of the herein described parcel of land, and said cornerhaving UTM coordinates of 5 304 500 N, 649 500 E; of Zone 21; thence South 1,000metres, thence West 1,500 metres, thence South 500 metres, thence West 500 metres, thenceNorth 1,000 metres, thence West 500 metres, thence North 500 metres, thence East 2,500metres to the point of beginning. . All bearings are referred to the UTM grid, Zone 21.NAD27.



Extensions: None

Work Reports:

YearReceiveDate

AcceptanceDate

ActualExpenditure


C2 Status

1 2008/07/10 $6,474.50 10.0000

2 2009/06/02 $0.00 10.0000

$1,025.50to beexpendedon thislicense by2010/01/30

Documents

3 rd Year Assessment Report on - Newfoundland and Labradorgis.geosurv.gov.nl.ca/geofilePDFS/Batch2013/001M_0757.pdf3 rd Year Assessment Report on Prospecting, Rock and Soil Sampling