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THE GREAT CANADIAN EXPLORATION COMPANY INC. PRIVATE PLACEMENT
Great Canadian is in the process of raising $250,000 to enable it to obtain an OTC-BB shelf, go public and close a $5,000,000 private placement through an Edmonton broker.
Shares can be purchased for $.20 on a non-flow through basis or $.25 for tax- deductible flow-through shares.
Interested parties may contact John Hope for more information and a copy of the Offering Memorandum.
JOHN HOPE,President
The Great Canadian Exploration Company Inc.#201-17412-105 Ave..
Edmonton, AB., T5S 1G4
Tel - 780 443 4652
Fax - 780 443 0854 Ceff - 780 910 7666
E-mail greatcanadian@telus.net
THE GREAT CANADIAN EXPLORATION COMPANY INC. FINANCING SUMMARY
JUNE 30, 2004
The Company is in the process of raising $250,000 through an Offering Me mmmudum dated December 1,2003, the proceeds of which will be used primarily to finance the costs of obtaining an OTCC.BB shelf public company and closing a $5,000,000 private placement through an Edmonton broker.
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The share position would look as follows - issued & Outstanding |
3,195,000 |
|
To be issued for Mt. Haskins Property |
2,000,000 |
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To be issued to acquire shelf |
4,000,000 |
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Oflcring Memorandum $250,000@$.25 |
1,000,000 |
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Private Placement $5,000,000@$1.00 |
5,000,000 |
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Fuffy - Difuted |
15,195,000 |
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The proceeds would be used as follows - Panama - Mining - Placer Gold |
$1,300,000 |
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Mt. Haskins, B.C. - Driff Pwyrurrt - Gold |
750,000 |
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Widow Point, N.S. - Drill Program - Gold |
350,000 |
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Wine Hathour, N.S. - Drill Program - Gold |
200,000 |
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Thibert Creek, B.C. - Drill Pm9rmn - Placer Gold |
100,000 |
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Vowel Mountain. B.C. - Exploration - Gold |
200,000 |
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Wild Hay, AB. - Exploration - Diamonds |
100,000 |
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Working Capital |
1,000,000 |
|
4,000,000 | |
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Costs Of Offering |
1,000,000 |
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$5,000,000 |
|
US$ | |
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Panama - Mining - Placer Gold Mount Haskins, B.C. |
$3,000,000 (aiuiuaffy) |
|
-InrenedResource-Zinc, Lead, Silver |
$53,600,000 |
|
-Indicated Resource - Molybdenum |
$387,900,000 |
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Widow Point, N.S. - Gold |
$21,875,000 |
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Wine Harbour, N.S. - Gold |
$11,825,000 |
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Tftibert Creek, B.C. - Placer Gold Vowel Mountain, B.C. - Gold Wild Hay, AB. - Diamonds Dease Lake, B.C. -Jade |
$18,300,000 Unknown Unknown Unknown |
PANAMA - Placer
Calais Resources Inc. owns claims in Panama with in&catedvalues of 1.5 gnu s/cuydgold
The cost to the company would 6e an 8% royalty to Calais and 4% to Panamanian
Government. The potentiaf is as follows
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Revenue - 100yds/I r @LIS$18.75tydx 20 firs day x 20 days x 10 mths |
US$7,500,000 |
|
(Based on Go(d@US$390oz) |
2,000,000 |
|
costs Labor &Operating - $5 yd x 100 yds x 20 hrs x 20 days x 10 mths | |
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Capital Costs |
1,000,000 |
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Royalties - 12% |
900,000 |
|
Other |
600,000 |
|
4,500,000 | |
|
Net Income Annually |
LIS$3,000,000 |
MOUNT HASKINS, B.C. - Zinc,Lead,Silver,Mo(ybdenum
John Hope and Tony Wang will be vending the property into the company for 2,000,000 shares plus 3% Net Smelter Return. Based on an assessment far Ashland Oil Canada Limited dated July 5,1973 prepared by Neil Campbel4 Consultant the property contains the following resource mhos.
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Inferred Mineral Resource Zone A - Della. Mines Ltd - 300,000 tons@ US$75/ton 5%Zinc,3%Lead, loz Silver |
LLS$22,500,000 |
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The Fort Reliance Zone - 426,000 tons @ LIS$73/ton 5.54%Zinc,1.94%Lead,1.36oz Silver |
31,100,000 |
|
LLS$53,600,000 | |
|
Indicated Mineral Resource Moly6denum- 13,482,000 tons MoS2/1.6681=8,082,249 |
|
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Tons Mo @ 3 lbs/ton x LIS$16 = |
LLS$387,900,000 |
WIDOW POINT, N.S. - Golf
A rich gold property with mmemlization similar in character to famous "Saddle Reef gold deposits of Bemfgo, Australia
Nova Scotia Bendigo
Discovery 1861 1851 Au Grade 155/t 159/t Production 1.25Moz 18.0Moz Mine Depth 200M 1200M
Requires only a short drilling program at a cost of CDN$150,000 to prove the present
reserves estimated at 500,000 tons of ore @ 3.5gm/ton in gold @ US$390oz equals potential reserves of US$21,875,000. Additional exploration could result in additional reserves.
Payments of CDN$162,500 plus 105,000 shares of the compauy, are payable from Dec 15/03 to Dec 15/06 plus a 3% Net Smelter Return(1" rights of refusal to payout for CDN$3,000,000.)
WINE HARBOUR N.S. - Gold
This property has irufcatedreserves of 123,202 tons of ore (0.2457o7/ton)
@ US$96/ton for a reserve value of US$11,825,000. Additional exploration couldresuft in additional reserves.
It will cost CDN$300,000 over 4years years (CDN$15,000 for fast year) + 3% Net Smelter Return + 150,000 shares with $100,000 annual work commitment.
THIBERT CREEK, B.C. - Placer
The company has acquired 5 claims on upper Thibert creek. John Hope conducted tests in 2002 that showed 4,815,000 cubic yards at US$3.00/cuyd for a resource value of US$18,300,000.
The New Zealand Floater Mining Method can be used to process the material in this environment at costs of $1.50 per yard
Vowel mountain, overlooking the Frying Pan Property in the Dease Lake area of northwestern B.C. consists 44 claims covering 1575 acres. The claims = 200 km north of the Eskay Creek Mine(richest Canadian gold deposit) and contain severnl similar pol mretaf is vofcanogenetic massive sulfide features. Samples co ffrrte4 in the fate 1980's by Big I Development and supervised by J. W. McLeod assayed 1.2 and 10.70 goft Apex Geoscience Ltd have recommended an initial exploration program of CDN$155,000. Because sufficient exploration has not been complete4 we were unable to quantify the resource value.
WILD HAY, AB., - Diamonds
The company has optioned a diamond property north-west of Hinton, AB., where, in 1994 26 Sllwrwnds were found by prospectors. The company is conducting a study of the area to locate the source of the diamonds and will follow-up with a program in 2004.
DEASE LAKE, B.C. -Jade
The company has "req.; to about 50 tons of jade located in north-western B.C. and more can be mined Evaluations of marketing opportunities are being conducting. The jade is worth CDN$2.50(b. wholesale a d would cost the company CDN$1.00fb..
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