The following excerpt is from EXPLORATION NEWSLETTER - What's up in Sweden, No 21 June 2006

Current news on exploration in Sweden. Editor Birger Filén

EXPLORATION NEWS

Lundin Minings Copperstone project is located in Skellefte mining district of northern Sweden, about 20 km northeast of the Storliden mine. A total of 2,458 metres in 15 diamond drill holes was completed in the first quarter of 2006. A number of geophysical and geological targets were tested in the vicinity of the Eva Discovery with the objective of finding a higher grade extension of this massive sulphide deposit discovered in early 2005. Drilling of coincident magnetic and electromagnetic ("TEM") geophysical anomalies, located approximately 330 metres south of the Eva deposit, intercepted a several metre thick zone of felsic volcanics containing massive sulphide clasts with visible zinc and copper sulphides, suggestive of being close to another massive sulphide centre of mineralization or the southern extension of Eva.
A total of 2,357 metres in 12 diamond drill holes was completed in the first quarter of 2006 in the vicinity of the Storliden mine. Although there are several geophysical and geological targets left to test, no significant new sulphide mineralization has yet been discovered. Additional drilling is planned for the second quarter of 2006.
The Norrbotten copper-gold project is located in the Norrbotten mining district of northern Sweden and consists of both 100% Lundin licenses and licenses that form a joint venture partnership with Anglo American Exploration BV and Rio Tinto Mining and Exploration Ltd. The properties cover and include the iron oxide copper-gold mineralization discovered by Anglo and Rio at Rakkurijärvi.
In the first quarter a total of 1,329 metres in 4 diamond holes was completed at Rakkurijärvi. For further information read www.lundinmining.com
Aggressive exploration programs by Northland Resources Inc. are currently underway on a portfolio of high priority iron targets in Lappland, straddling the border between Sweden and Finland, and at the Barsele gold project in Sweden.

Dragon Mining NL advises that diamond drilling has commenced at the Svartliden deposit to examine the strike and depth extensions of a series of high grade intercepts associated with the Northern Lode.

Mawson Resources Ltd announces staking of the Åsnebogruvan Uranium Project in South Central Sweden. Significant values from historic grab samples from two mine pits included 4.7% uranium oxide, 28 g/t gold, 0.32% tungsten, 2.7% tellurium, 0.15% yttrium, 10 g/t silver and 25% iron oxide.
The bedrock consists of sedimentary rocks belonging to the Dal-group, which rests discordantly on an older crystalline basement made up of mainly gneisses and granites. A granite body is mapped in outcrop some tens of metres from the sampled pits. The area is considered to be prospective for iron oxide hosted uranium-gold mineralization due to the presence of hematite breccia, highly anomalous uranium, gold and rare earths in association with granites.
May 2, 2006 Mawson announces that a short reverse circulation drill program has been completed at the Långtjärn gold project. This project is the first to be drill tested under the recently announced "Letter of Understanding" between First Fortune Investments Inc. and Mawson to jointly explore Mawson"s regional gold properties in northern Sweden.
Långtjärn lies at the northern end of the "Gold Line", in the western Skellefteå Mining District, where much of the gold exploration in Sweden is currently focused. The Gold Line is a 130 kilometre long by 5 kilometre wide zone that covers a dislocated series of metasediment greenstone packages which host 2 operating gold mines and two advanced projects. Gold mineralization at Långtjärn is of an orogenic greenstone-hosted style, similar to two of the largest gold fields in the world; Timmins, Ontario and Golden Mile in western Australia.
Gold at Långtjärn is associated with quarts and arsenopyrite within and adjacent to a strongly silica‑chlorite altered diorite body.
Mawson has discovered new drill targets at Middagsberget North. The company reports results from one hundred and twentythree bedrock drill holes at the Middagsberget North gold project. Near surface gold-arsenic anomalies have been identified that will be tested by future reverse circulation drilling programs.
Mawson has signed a "Letter of Agreement" to joint venture the Storbodsund nickel-cobalt-copper sulphide project to Independence Group NL of Australia. Historical drilling at Storbodsund intersected near surface high grade nickel sulphide mineralization. Airborne geophysical works and field exploration has commenced with Independence Group as operator.

According to MinMet plcs announcement of 24 January 2006 Gold Ore Resources Ltd (Gold-Ore) had plans to commence the 2006 exploration drilling programme at the Bjorkdal gold mine, drilling up to 10,000 metres in an area north of the high grade South-East Pit by means of an underground drift tunnel and targeting known high grade mineralization aimed at defining new reserves.
On 28 March Gold-Ore reported that a Phase 1 exploration program on the Bjorkdal Project in northern Sweden was underway. The goal of the program is to expand the measured and indicated resource categories of the deposit and will be followed by a Phase 2 program and a feasibility study for open pit mining. The property is fully permitted for mining, and the on site plant is producing gold at a rate of 20,000 ounces per year from surface stockpiles. Current in situ measured and indicated gold resources (NI 43-101 compliant) are 2,175,000 tonnes grading 2.53 g/t (176,940  oz) and inferred 7,841,000 tonnes grading 2.53 g/t (637,870 oz). Gold-Ore has an option to purchase 100% interest in the project from MinMet plc of Dublin, Ireland.

Lappland Goldminers has been running an exploration program that consisted of bottom till and bedrock chip sampling within a two kilometer long area south of the planned open pit at Fäboliden. The sampling was made in a grid system with 100x200 metres between sampling points and with some infill drilling (25 - 200). Results from 80 samples show that in several locations the grade of gold is high, e.g. 3.8,1.8 and 1.4 g/t. Now, Lappland Goldminers is intensifying its exploration in the area and will start to drill 12 core holes at proved gold mineralized sample points.

Beowulf Mining plcs has started drillings at Grundträsk in May 2006. Before, Beowulf has completed nine drill holes on the Grundträsk permits. In 2005 gold analyses from hole 5004 yielded a 30.23 metre section (16.2 to 46.4 meters) with an average grade of 1.14 g/t and included a section of 6 metres of 2.16 g/t.

MINING NEWS

After looking through a very huge reference material originally made and compiled by the Geological Survey of Sweden and the Boliden Company, International Gold Exploration AB (IGE) has secured tonnage for profitable mining at Stekenjokk in the Swedish Caledonides. Stekenjokk was mined by Boliden for copper, zinc and precious metals during the years 1977 - 1988. IGE will in the near future call for an information meeting with interested parties in the region, and also initiate an environmental study and thereafter apply for an exploitation concession.

Mining at Ersmarksberget will start in June this year. ScanMining's Blaiken mine consists of two ores, the Ersmarksberget and the Svärtträsk ore deposits, both of which will be mined in open pit operations. The full extent of the ore deposits has still not been established. At present the total tonnage (ore reserves and mineral resources) amounts to 7.1 million tonnes at Ersmarksberget and about 3 million tonnes at Svärtträsk

Lappland Goldminers has submitted an application for a permit in accordance with the Swedish Environmental Code for mining and processing at Fäboliden outside Lycksele. The mine and the processing facilities for extracting gold and converting it into finished doré ingots have a planned capacity of 5 million tonnes of ore per year.

At Dragon mining"s Svartliden mine gold production of 12,160 ounces was achieved for the first quarter 2006 with good millavailability and more consistent grades. Mill throughput averaged 38.2 tonnes per hour at 94.1% utilisation and 93.5% recovery.
A total of 267,448 bcm of material was mined. This comprised 559,633 tonnes of waste, 123,880 tonnes of ore and 135,963 bcm of peat and till prestrip from the western extension.
The Pauträsk road deviation of 2.3 kilometres was essentially completed during the quarter and the expected June opening of the diversion will provide uninterrupted access to the mining operations in the future.

11 January 2006 MinMet plc reported production figures for the year 2005 at its gold mine at Bjorkdal in northern Sweden. 1,197,330 tonnes were processed producing 691,65 Kgs gold at 0.68 g/t. In 2004 the numbers were 1,193,719 tonnes giving 951.79 Kgs at 0.94 g/t.

BeowulfMining has engaged Snowden Mining Industry Consultants Ltd to review the ore reserves at Ruoutevare and to give advice on how the reserves calculated in the 1970's by the Geological Survey of Sweden (SGU) can be converted to jORC-compliant resource estimates.
The reserves from the 1970's SGU study estimate 116 million tonnes, with an average of 38.2% iron and 5.6% titanium. A richer section of 20 million tonnes is registered with a grade of 47% iron and 11 % titanium oxide.

Hope to see you soon!
© 2006 Geological Survey of Sweden - Mineral Resources Information Office.

The content of this newsletter is entirely based Upon public information gathered from newspapers, press releases, and web sites on Internet.




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