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The Ellison Property consists of eight claims located in Bousquet Township, Quebec. In 2002, Yorbeau transferred all of its interests in the Ellison property to Agnico-Eagle Mines Limited in consideration of a cash payment of $1,000,000, of which $500,000 was paid on closing and $500,000 is payable upon commencement of commercial production. Yorbeau also retains a net smelter return royalty ranging from 1.5% to 2.5%, depending on the gold price. If the gold price is US $425 or more, the net smelter return royalty is 2.5%.

During 2010, Agnico-Eagle drilled two deep holes to test the possible extension of the Westwood gold zone onto the Ellison property.

The following is an extract from the Agnico-Eagle press release of December 15, 2010:

"Ellison Project

Current exploration results indicate that Iamgold Corporation's Westwood gold zone extends onto Agnico-Eagle's Ellison property at depth. Ellison is located immediately west of the Company's LaRonde and Bousquet properties in the Abitibi region of Quebec, and immediately east of Iamgold's Westwood gold project.

Drill hole 114-10-16J intersected the interpreted Westwood horizon at a depth of about 2,600 metres below the surface and returned 8.0 gpt gold with 0.11% copper over an estimated true width of 13.3 metres. Included in this intercept was a higher grade interval of 14.1 gpt gold and 0.16% copper over 7.0 metres. This intersection is roughly 120 metres above and to the east of hole 114-10-16G which was previously reported.

There is significant potential to extend the mineralization to the east and possibly at shallower depths. A follow-up exploration program, is planned for Ellison in 2011 at a budget of $4.8 million, and will include 9,500 metres of drilling using two drill rigs."