PGM and Cu-Ni Mineralization in the Huronian-Nipissing Magmatic-Tectonic Belt, Sudbury Mining Division, Sudbury District, Ontario, Canada

• Develop exploration models for particular mineral deposit types;
• Research public-domain archives and data;
• Identify under-explored mineral and mining ground that fits the models;
• Locate and acquire prospective ground by staking or inexpensive option deals;
• Complete preliminary exploration (prospecting, mapping, geophysics, sampling);
• Option and/or joint venture properties to further advance their development while seeking cash payments and/or stock payments;
• Remain as operator during earn-in phase of option deals; and
• Enhance exploration models based on new data.

HISTORY OF THE COMPANY

MANAGEMENT OF THE COMPANY

Mr. Lilly commenced his career in 1982 with Clarkson Gordon, Chartered Accountants. Since 1990 Mr. Lilly has been a partner with Sostarich, Ross, Wright & Cecutti, Chartered Accountants, based in Sudbury, Ontario.

Mr. Lilly’s practice covers all areas of public accounting including auditing, taxation and management advisory services for both individuals and private and public corporations.

Mr. Ankcorn holds an Honours Bachelor of Business Administration degree from Wilfrid Laurier University and became a Certified Management Accountant in 1983.

Mr. Ankcorn has been on the board of several public companies in the resource sector and is currently a director of AAVDEX CORPORATION (YAA-TSXV), Eloro Resources Ltd. (YEL-TSXV) and The E21 Group Inc. (YEP-TSXV). He is also currently the CFO for The E21 Group Inc. From 1989 to 1996 Mr. Ankcorn was the Secretary-Treasurer, then Vice President and then President of Northfield Minerals Inc. Prior to this Mr. Ankcorn spent seven years in various accounting positions with Gulf Canada.

Peter J. Slack, P.Eng. - Director

Mr. Slack holds a Bachelor of Engineering Science degree in Mechanical Engineering from the University of Western Ontario and is registered as a Professional Engineer in the Province of Ontario.

Mr. Slack has a varied background of experience in mining, exploration and PC-technology integration. This experience includes work for Junior Mine Services Limited, P.J.S. Engineering & Technical Services, Dynatec Engineering Limited and Concord Elevator Inc.

Mr. Slack served as a director of Omni Resources Inc. between 1995 and 1998.

Neil J.F. Steenberg - Secretary

Mr. Steenberg is a partner in the Toronto office of the firm Gowling Lafleur Henderson – Barristers & Solicitors and practices primarily in the area of corporate finance and securities law. His securities practice is divided between providing financing and regulatory advice to emerging information technology companies and mining law, where he focuses on equity financing of mining and mineral exploration enterprises, mining joint venture and acquisition agreements, and other legal issues in the prospecting, exploration and development sectors. He also advises on securities aspects of corporate finance, reorganizations, mergers and acquisitions.

Before joining Gowlings, Mr. Steenberg was an associate and partner in several Toronto firms. His background includes considerable private sector experience in the mining industry. For five years Mr. Steenberg served as secretary and general counsel to a group of mineral exploration and mining companies where he was involved in all aspects of mineral exploration, development and production, both as counsel and in a management capacity. Recently, Mr. Steenberg has been involved in various development initiatives within Gowlings on financing and commercializing intellectual property.

Mr. Steenberg was called to the Bar in Ontario in 1977 and is a member of the Canadian Bar Association and the Prospectors and Developers Association of Canada.

CURRENT PROPERTIES OF THE COMPANY

Although it is has generally been considered that the Nipissing Gabbro may not yield large deposits of Ni-Cu mineralization, there are indications that deposits of moderate size can be present. The Company recognizes that mineral deposits of this type could be of considerable economic potential if they do contain recoverable PGE values. The viability of such deposits would be in part due to the well-developed infrastructure in the region especially the proximity to concentrators and smelters in Sudbury.

To this end Goldwright currently holds several unpatented mining claims in six properties with the potential for hosting PGEs associated with Cu-Ni sulphides within the Sudbury Mining Division, Ontario. These six properties are:

• Chiniguchi River (Janes) Property, Janes Township;
• Wabagishik Lake Property, Nairn Township;
• Kukagami Lake Property, Kelly Township;
• Chiniguchi North Property, McNish Township;
• McNish Property, McNish Township; and
• Davis Township Property, Davis Township.

Highlights of these current mining properties follow:

Previous work by Kennco Explorations (Canada) Ltd. in 1969-1970 and recent work by the Company and Pacific have indicated an area of Ni-Cu-PGE mineralization – the Jackie Rastall Prospect – that would appear to have the potential to form an economic concentration. The known mineralization is structurally localized and its appearance suggests it may have been re-mobilized from deeper more massive mineralization which would appear to be an exploration target of interest and requires additional evaluation.

Until recently, exploration work on the property was being managed and financed by Pacific North West Capital Corporation (Pacific) and its joint venture partner Anglo American Platinum Corporation (Anglo Platinum); those companies have decided not to further increase their interest in the property. The current property ownership stands at 75% Goldwright, 12.5% Pacific and 12.5% Anglo Platinum. It is uncertain at this point whether the minority partners will maintain their interest or be diluted out.

1 represents approximate true width in drill holes JR99-01, 05, 06 and 09

* PGM = Pt+Pd+Au; weighted averages

Summary of selected assay results, Phase II drilling, Chiniguchi River property.

DDH	From (m)	To (m)	Interval (m)	g PGM/t*	% Cu	% Ni	% Cu+Ni
JR99-14	48.20	78.20	30.00	0.78	0.38	0.17	0.55
incl.	68.45	78.20	9.75	1.58	0.40	0.19	0.59
JR99-16	25.60	37.50	11.90	1.18	0.46	0.22	0.68
incl.	35.85	37.50	1.65	4.15	0.54	0.28	0.82
JR99-19	105.25	133.45	28.20	0.14	0.23	0.04	0.27
incl.	132.10	132.95	0.85	0.62	4.10	0.29	4.39
incl.	132.65	132.95	0.30	1.14	11.08	0.60	11.69
incl.	132.65	133.15	0.50	0.80	7.10	0.40	7.51

*PGM = Pt+Pd+Au; weighted averages

Wabagishik Lake Property

Previous workers have indicated the presence of Ni-Cu-(Co)-bearing sulphide mineralization associated with Nipissing Gabbro on the property. Assays reported in the assessment files indicate that the sulphide mineralization was in general only tested for base metals, so the PGE-precious metal potential of the mineralization remains mainly untested. Also, the reported geophysical work is usually of the electromagnetic (EM) type which is not suited to detecting disseminated mineralization.

Kukagami Lake Property

The economic potential of the Kukagami Lake property is related to the possible presence of Ni-Cu-PGE mineralization within the lower part of the Nipissing Gabbro sill on the property. There exist six (6) target areas of possible disseminated sulphides identified by a Spectral IP survey.

Previous geophysical work has generally featured magnetic and electromagnetic (EM) surveys. EM surveys are not effective in detecting disseminated mineralization which is best indicated by induced polarization (IP) surveys. Lithogeochemistry in conjunction with whole rock analyses may also be useful in identifying anomalous areas of metal concentrations in the Nipissing Gabbro sill. There is approximately four (4) kilometres of strike length of the Nipissing Gabbro exposed on the property and it is considered that approximately the lower third is the zone of greatest economic potential.

This property, like Chiniguchi River, was under option to Pacific and Anglo Platinum; those companies have earned a 25% interest in the property.

Chiniguchi North and McNish Properties

The economic potential of the property is based on the potential of the Nipissing Gabbro to host Ni-Cu-PGE sulphide mineralization similar to that being actively explored on the Chiniguchi River property to the south. There is no evidence of prior work on the claims of the subject property.

Davis Township Property

Recent exploration work on the property carried out by the Company and Minera Capital Corporation (Minera) has consisted of linecutting, stripping, trenching, sampling and geological mapping over portions of both the East (Murray Lake) and West (Washigami Lake) blocks and magnetometer, VLF-EM and time-domain pole-dipole induced polarization surveys over a portion of the East block of claims.

Various grab samples of sulphide-bearing gabbro are reported to have contained up to 2.63%Cu, 1.38% Ni, 218 ppb Pd or 85 ppb Pt; all these samples originated from the showing on the south shore of Murray Lake.

CONTACTS

Goldwright has a team of dedicated professionals that, upon obtaining the necessary financing, plan on discovering the ore bodies of the future in a cost-effective method. If you have an interest in participation in this project, or wish to discuss these matters further, please contact Brian Wright, President of Goldwright Explorations Inc. at Tel: 705-967-0216, Fax: 705-967-0598 or John M. Siriunas, P.Eng. at 416-570-9271.