Trading Summary TSX-Venture (February 11, 2004)

Vancouver Canada’s junior exchange continued its bull run as advancing stocks beat declining stocks 476 to 424. The S&P-TSX Venture Exchange composite index closed at 1886.44, up 20.26 points, or 1.09% with 109.3 million shares traded.

Spider Resources and joint venture partner KWG Resources have tabled results from the first drill hole of their winter drilling program on the McFaulds #3 base metal target in the James Bay Lowlands of Ontario. Hole McF-20 cut 5.87 metres averaging 2.8% copper, 0.02% zinc, 0.5 gram gold and 15.5 grams silver per tonne, starting 68.4 metres down-hole. This was followed by a 4.2-metre section that averaged 0.26% copper, 11.8% zinc, and 1.57 grams silver, starting 91.2 metres down-hole. Spider closed the day at 23, up 2.5 with 4.1 million shares traded. KWG ended the session at 42, up 5.5 with 671,000 shares traded.

ECU Silver Mining closed at 38, up 6 with 3.1 million shares changing hands. The company recently announced that it has entered into a private placement financing worth $999,000. The money will be used to pay for exploration drilling at the Santa Juana mine, as well as for general production costs in Mexico.

Inlet Resources closed at 8, up a penny, with 1.8 million shares traded. The company holds 74,280 acres of ground in the Ungava region of Quebec. The property is situated to the east of and adjoins the Falconbridge property, which hosts the Raglan mine and associated deposits.

JNR Resources closed at 42, up 9 with 1.5 million shares traded. The company recently closed a private placement totaling $821,000. The company issued 3.3 million units at a price of $0.25 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one additional common share at $0.31 for the first year and $0.36 for the second year. Last month the company optioned its Moore Lake and Lazy Edward Bay uranium properties to International Uranium These properties occur in the Athabasca Basin of northern Saskatchewan. The partners are currently in the midst of an extensive winter diamond drilling program at Moore Lake.