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Maple Bay

Project Location & History

Golden Opportunity’s Maple Bay property is 60 km south of Stewart BC on the Portland Canal and lies within the western part of the Anyox Pendant, a 400 square kilometre mineral-rich Paleozoic to Mesozoic volcanic and sedimentary succession preserved as a roof pendant within the Tertiary Coast Plutonic Complex.

Anyox, the former Granby Consolidated Mining and Smelting Company townsite, serviced the historic Anyox copper mine and smelting complex in the general area. The Anyox Pendant is bounded by fiords on the east and west sides which are both main transportation corridors for commercial deep sea freighters.

The Company feels the Maple Bay property has potential to host sulfide bearing quartz veins and possibly host massive sulfide mineralization at depth within the Anyox roof pendant. Interested investors are encouraged to read the Company’s 43-101 report under the Golden Opportunity profile on SEDAR. The following discussion is summarized from this report.

The eastern part of the pendant hosts the Anyox massive sulphide deposits, which produced 22 million tonnes of ore averaging 1% copper from the basalt dominated upper part of the Jurassic Hazelton Group volcanics. The western part of the pendant hosts large sulfide bearing quartz veins near Maple Bay in highly deformed Jurassic metavolcanic and metasedimentary rocks that are thought to be correlatable with the Hazelton Group. The veins are up to 1000 metres long, a few hundred metres deep and several metres thick. Historic production from the larger veins include the Outsider Vein, several thousand tons at 2.8% copper and a further 125,000 tons grading 1.8% copper, 10 g/t silver and 0.14 g/t Au.

Government studies suggest the Anyox pendant forms part of the Eskay rift, a 250km long belt hosting over 60 volcanogenic massive sulphide deposits, including the famous Eskay Creek gold-silver mine north of Stewart, BC.

Golden Opportunity cautions investors it has not verified the historical data and further cautions investors the above described mineralization in the area is not necessarily indicative of similar mineralization on the Maple Bay property.

Exploration Targets

Historic exploration and development in the area of the Maple Bay property largely focused on sulfide bearing quartz veins. While the known historic veins lie outside of the current property boundaries, the Company’s exploration programs suggest strike extension of these veins may lie on the its Maple Bay Property. The following paragraphs describe these known quartz sulfide veins.

The Outsider and Maple Bay Veins have been subject to considerable exploration work and minor production over the last century. New data from previous operators indicates additional work is warranted to test for new mineralization in the vicinity of the old crown granted claims. Strong electromagnetic anomalies obtained in an airborne electromagnetic survey completed in 2006 by previous operators of the property have not yet been tested by drilling.

Of particular interest are four separate electromagnetic anomalies adjacent and on strike from the Outsider and Maple Bay crown granted claims. The anomalies range from between 10 and 20 siemens to over 50 siemens indicating a strong conductive source.

The BC Regional Geochemical Survey (RGS) stream sediment results and the additional results of historic exploration programs yielded exceptionally strong results, with highlight values of 1,960 ppm Cu from the RGS survey and 865 ppm Cu from historic exploration. The potential for further significant discoveries is considered excellent.

The Company cautions investors these veins lie outside the present property boundaries and further caution that known mineralization lying outside the present property boundaries is not necessarily indicative of similar mineralization within the property boundaries. The Company has not yet verified any of the historic exploration information disclosed in the following paragraphs.

Vein Systems

The various veins in Maple Bay have historically been described separately as they were held as separate sections by different owners. A review of the geology map of the vein structures strongly suggests the veins are continuous and separately named veins clearly appear to be the same structure, supporting the Company’s theory the strike projections of a number of these veins should be found on the Company’s property.

Eagle-May Queen / Thistle

The Eagle-May Queen vein is located about 1.3 kilometres northeast of Maple Bay on the east side of the Portland Canal, 55 kilometres south of Stewart. Drilling in the 1920's identified sufficient copper mineralization to estimate an historic resource. The Eagle-May Queen vein pinches and swells, varying in width from 1.5 to 10.7 metres, strikes northeast for about 1000 metres and dips 80 degrees southeast. The United vein, a small satellite vein about 195 metres to the northwest and adjacent to the Eagle-May Queen's vein south end, strikes northeast for 122 metres parallel to the vein. These quartz veins are hosted in greenstone that strikes northeast and dips 60 to 80 degrees southeast. These conformable relationships suggest the veins may be lenses of volcanogenic massive sulphides similar to the Anyox mineralization.

The Eagle-May Queen vein locally contains bands of country rock and mineralization consists of chalcopyrite, minor pyrrhotite and pyrite and trace sphalerite. Rare lenses of cupriferous massive sulphides up to 1.8 metres thick occur in the walls of the vein. Based on surface exposures and four drill holes in 1923, The Granby Consolidated Mining, Smelting and Power Company Limited calculated an historic resource of 522,000 probable tons at 1.71% copper and 590,000 inferred tons at 1.4% copper, 473,506 tonnes and 535,189 tonnes, respectively. This historic resource was disclosed in the British Columbia Ministry of Energy, Mines and Petroleum Resources publication Geology, Exploration and Mining in British Columbia 1970 on page 77. The Company is not aware of any technical report supporting this historic resource. The Company considers this historic estimate relevant as it supports the potential of the Eagle – May Queen Vein structure. The Company cannot comment on the reliability of the historic estimate as a report supporting the estimate is not available. Without the supporting report, the Company cannot provide information on the key assumptions, parameters or methods used to prepare the historic estimate, nor can it determine how the resource categories differ from the current resource categories. The Company is not aware of any more recent estimates or data. Again, without the supporting report, the Company cannot comment on what work would need to be done to upgrade the historic resource to a current resource. The Company has not done sufficient work to classify the historic estimate as a current mineral resource, nor is the Company treating the historic estimate as a current resource.

The Eagle-May Queen vein locally contains bands of country rock and mineralization consists of chalcopyrite, minor pyrrhotite and pyrite and trace sphalerite. Rare lenses of cupriferous massive sulphides up to 1.8 metres thick occur in the walls of the vein. Based on surface exposures and four drill holes in 1923, The Granby Consolidated Mining, Smelting and Power Company Limited calculated an historic resource of 522,000 probable tons at 1.71% copper and 590,000 inferred tons at 1.4% copper, 473,506 tonnes and 535,189 tonnes, respectively. This historic resource was disclosed in the British Columbia Ministry of Energy, Mines and Petroleum Resources publication Geology, Exploration and Mining in British Columbia 1970 on page 77. The Company is not aware of any technical report supporting this historic resource. The Company considers this historic estimate relevant as it supports the potential of the Eagle – May Queen Vein structure. The Company cannot comment on the reliability of the historic estimate as a report supporting the estimate is not available. Without the supporting report, the Company cannot provide information on the key assumptions, parameters or methods used to prepare the historic estimate, nor can it determine how the resource categories differ from the current resource categories. The Company is not aware of any more recent estimates or data. Again, without the supporting report, the Company cannot comment on what work would need to be done to upgrade the historic resource to a current resource. The Company has not done sufficient work to classify the historic estimate as a current mineral resource, nor is the Company treating the historic estimate as a current resource.

Outsider Star

The Outsider-Star quartz vein system consists of two veins, both striking at about 010 degrees. The more significant of the two is the Outsider vein with the Star vein generally considered to be its southern extension. The Outsider vein dips 45 degrees east, has been traced for about 900 metres and varies from 0.6 to 6.1 metres in width, averaging 3.0 metres. The Star vein has been traced along strike for 680 metres and varies from less than 0.5 metres to 1.8 metres in width. The Outsider vein lies along the contact between greenstone (hanging wall) and silicified argillite (footwall) and is conformable to the bedding of the host rocks.

Mineralization in the Outsider vein consists of chalcopyrite and pyrrhotite with minor pyrite and traces of sphalerite in a gangue of fine-grained grey to white quartz. Higher grade mineralization lies near the wall of the vein. The Star vein consists of fine-grained white quartz with pyrrhotite and lesser chalcopyrite. Locally, up to 50 per cent of the vein consists of sulphides. Discovered in 1896 during the Gaillard Expedition, the Outsider vein was mined initially during 1906 and 1907 and shipped ore to the Brown-Alaska smelter in Alaska. Between 1924 and 1928, 112,966 tonnes of ore was produced for silica flux and copper smelting at Anyox.

A total of 125,966 tonnes grading 1.9 per cent copper were produced from the Outsider vein between 1906 and 1928. In the last two years of production the ore averaged 0.139 grams per tonne gold and 10.29 grams per tonne silver. In 1917, the Star vein produced 4845 tonnes of quartz carrying minor copper, gold and silver values (British Columbia Minister of Mines Annual Report 1917). Unclassified reserves for the Outsider property are 181,440 tonnes grading 1.5 per cent Copper. This historic resource was disclosed in the Mineral Deposits of the Northern Cordillera CIM Special Volume 37 published 1983 on page 183. The Company is not aware of any technical report supporting this historic resource. The Company considers this historic estimate relevant as it supports the potential of the Outsider and Star Vein system. The Company cannot comment on the reliability of the historic estimate as a report supporting the estimate is not available. Without the supporting report, the Company cannot provide information on the key assumptions, parameters or methods used to prepare the historic estimate, nor can it determine how the resource categories differ from the current resource categories. The Company is not aware of any more recent estimates or data. Again, without the supporting report, the Company cannot comment on what work would need to be done to upgrade the historic resource to a current resource. The Company has not done sufficient work to classify the historic estimate as a current mineral resource, nor is the Company treating the historic estimate as a current resource.

Blue Bell

The Blue Bell occurrence comprises two veins, the Blue Bell and about 98 to 122 metres to the west, a smaller satellite vein. The Blue Bell vein has been traced along strike for 230 metres and varies from 0.46 to 1.52 metres in width, averaging 0.98 metres. The smaller vein has been traced along strike for 98 metres and varies from 0.30 to 0.91 metres in width. Both veins strike 010 degrees and dip 45 degrees to the east.

Mineralization consists of chalcopyrite and pyrite. High-grade sorted material assayed 11.3 per cent copper, 178 grams per tonne silver and 0.69 grams per tonne gold (Minister of Mines Annual Report 1906). The Blue Bell vein averages 8.44 per cent copper over a length of 180 metres and an average width of 0.98 metres (Assessment Report 5550).

Princess / Gertie

The Princess comprises five northeast trending quartz veins. The most important is the Princess vein, which strikes northeast and dips steeply to the southeast. The vein varies in width from less than 0.5 metres to over 2.4 metres and is hosted in a massive to slightly banded fine-grained felsic tuff. The vein comprises fine- grained milky white quartz and is mineralized with chalcopyrite, minor pyrrhotite and pyrite. Sulphides locally comprise up to 40 per cent of the vein (Silica Prospects in the Maple Bay Area, B.C. Pell, J. 1982 In British Columbia Ministry of Energy, Mines and Petroleum Resources Property File for 103O 018). Locally, the vein becomes a quartz-chalcopyrite breccia. Assays of all samples from surface trenches average 2.06 per cent copper over an average width of 2.3 metres and a sample vein assayed 3.10 per cent copper over 2.4 metres in a drift (British Columbia Ministry of Energy, Mines and Petroleum Resources Assessment Report 5550).

The Princess vein has been sampled on surface by trenching and underground by drifting. A crosscut was driven in from the 571-metre level to the vein. The 571-metre crosscut proved that the vein persists over a vertical interval of 183 metres from the 731-metre level to the 548-metre level. The vein at the end of the crosscut was sampled in 1971 and showed an average grade of 3.10 per cent copper over 2.4 metres. A number of drill holes were put into this vein, intersecting it below the 731-metre level. The diamond drilling showed a very narrow width above the 731- metre level, but below that level three drill holes gave an average grade of 2.27 per cent copper over 1.5 metres of width (British Columbia Ministry of Energy, Mines and Petroleum Resources Assessment Report 5550). In 1996, prospecting on the Maple Bay property was conducted on behalf of New Dolly Varden Mines Ltd.

Another quartz vein, varying from 1.2 to 3.7 metres in width, is located 400 metres to the northeast. This vein strikes northeast for 411 metres on the Princess Alice claim (L.498). It contains chalcopyrite mineralization and is likely an extension of the Princess vein.

The occurrence comprises five northeast trending quartz veins. The most important is the Princess vein, which strikes northeast and dips steeply to the southeast. The vein varies in width from less than 0.5 metre to over 2.4 metres and is hosted in a massive to slightly banded fine grained felsic tuff. The vein comprises fine grained milky white quartz and is mineralized with chalcopyrite, minor pyrrhotite and pyrite. Sulphides locally comprise up to 40 per cent of the vein (Pell, 1982). Locally, the vein becomes a quartz-chalcopyrite breccia. Assays of all samples from surface trenches average 2.06 per cent copper over an average width of 2.3 metres and a sample vein assayed 3.10 per cent copper over 2.4 metres in a drift (Assessment Report 5550, page 5).

Another unnamed quartz vein, varying from 1.2 to 3.7 metres in width, is located 400 metres to the northeast. This vein strikes northeast for 411 metres on the Princess Alice claim (Lot 498). It contains chalcopyrite mineralization and is likely an extension of the Princess vein.

The Gertie lies 207 metres along strike of the Princess vein to the southwest, and continues southwest for about 305 metres. This vein is also likely an extension of the Princess vein.

Anaconda

The Anaconda lies 120 metres northwest of, and is parallel to, the southern end of the Princess vein. It consists of quartz with chalcopyrite, pyrrhotite and pyrite. Surface sampling resulted in an average grade of 2.04% copper with traces of gold and silver over an average width of 2.4 metres (Maple Bay Properties – Maple Bay Groups – Outsider Group, Sargent, H. 1942 in British Columbia Ministry of Energy, Mines and Petroleum Resources Property File for 103P 048).

Lizzie

The Lizzie parallels the Gertie vein, lying 340 metres to the southeast.