Dubuisson
The Dubuisson property (49% interest) is located in the Dubuisson area, approximately 7 km West of Val d'Or. It consists of 39 contiguous claims covering a surface area of 870 hectares adjacent to the Goldex Mine (Proven & Probable Reserves: 1.6 million oz Au at 1.8 g/t Au: AEM - Goldex 2010 Mineral Reserves & Resources Dec.2010) . Since 1940, several companies have completed exploration programs on this property which included geophysical surveys, 47,940m of drilling, construction of an access ramp and mining development in the ore deposit. In 2008 and 2009, Adventure Gold compiled results from all prior work.
The Property straddles a 5-km segment of the prolific Cadillac-Larder Lake Fault, a major gold-bearing structure in the Abitibi and encompasses the Quebec Explorer gold deposit (historical resources non-compliant with NI 43-101, totaling 261,000 t at 6.6 g/t Au; MRNF - GM 55414, this estimate has not been reviewed by Adventure Gold). The gold system locally exceeds 20 metres in thickness and can be traced for more than 800 metres along strike. The best reported drill intercepts (core length) are as follows: 10.3 g/t Au over 3.4 m, 13.4 g/t Au over 2.4 m, 24.2 g/t Au over 3.4 m, and 34.3 g/t Au over 4.0 m (MRNF SIGEOM Database).
In July 2010, Adventure Gold announce the conclusion of a major partnership with Agnico-Eagle Mines Ltd. (TSX: AEM, "AEM") through the signing of a selling and an option agreement. Under the terms of the Agreement, AEM acquired 51% of AGE's right, title and interest in the Property by making, a cash payment of $100,000 and issuing 15,000 shares of AEM to AGE. Also under the terms of the Agreement, AEM may acquire an additional interest of up to 14% of AGE's right, title and interest in the Property by spending up to $4M in exploration work on the Property over a period of five (5) years from the effective date of the Agreement with a minimum of $600,000 of work to be completed or paid in cash to AGE before the end of the first two (2) years. As part of the Agreement and following the exercise of the second option, AEM may acquire an additional interest, which brings AEM up to 70% and AGE to 30% interest in the Property by completing a Bankable Feasibility Study. AEM will act as the operator for all exploration carried out on the Property during the option period (AGE - Press Release July 22, 2010).
