TSX VENTURE EXCHANGE (February 04, 2008)

With an undertone of cautious optimism, the junior mining-dominated S&P-TSX Venture Composite Index charted a 7% recovery over the Jan. 22-28 trading session — climbing 167.28 points to 2,557.8. Average daily trading volumes for the week rallied to 100.8 million shares.

Recent U.S. economic woes continued to cast a strongly bearish lean over the junior board with only seven companies managing new annual highs, while a whopping 322 dropped to 52-week lows.

Gravity West Mining again took top trading honours with 28.2 million shares changing hands to close up two pennies at 11.5 per share. Recent assays from its Voltaire Lake copper-nickel project in northwestern Ontario disappointed investors — prompting a strong sell-off in the stock.

Carmax Explorations gave up 42% over the week on more than 20 million shares traded, closing down 8 at 11 apiece. Further drill results from the company’s Eaglehead property, in northern B.C.’s Quesnel Trough, returned wide copper-mineralized intervals in the porphyry system along with wide molybdenum, gold and silver values.

On trading volume of 19.2 million shares, Sage Gold posted a 7 gain, closing the session at 29.5 per share. Drilling at its Jacobus property, near Beardmore in northern Ontario, recently returned intervals of up to 22.6 metres of 0.7% nickel and 0.74% copper (including 11.8 metres of 0.93% nickel and 0.92% copper).

MacDonald Mines Exploration remained a strong trader over the week, closing up 17.5 at 60 per share on more than 18.6 million shares traded. After completing a $10- million financing late last year, the company has drill plans for its projects in the McFauld’s Lake area of the James Bay lowlands.

Spider Resources, another McFauld’s Lake-area explorer, saw nearly 12.7 million shares change hands over the week, rising a couple of pennies to 11 per share.

Trading in U.S. Silver perked up over the session, with 12.2 million shares changing hands. The stock gained 7 to close at 75 on no news. Late last year, it closed a $24.5-million

financing earmarked for its Silver Valley projects in northern Idaho.

Final microdiamond data from New Nadina Explorations’Rip kimberlite, on its Monument Bay project in the Northwest Territories, propelled the stock 96% to close the week up 12.5 at 25.5 per share on trading volume of 11.1 million shares. Processing of 1,195 kg of kimberlite yielded 542 microdiamonds.

Noront Resources posted a 53% gain on the session — closing up $1.44 at $4.14 on almost

8.3 million shares of volume — after turning in the highest-grade drill results so far from its Double Eagle project, in the Mc- Fauld’s Lake area of Northeastern Ontario.

Record high bullion prices lifted shares of Seabridge Gold to a gain of $6.50 on the week, closing at $26.50 apiece. Its Noche Buena project, in Mexico’s Sonora state, saw a recent boost of 14% to about 1 million contained ounces gold in the indicated and inferred categories.

TSX- V most active issues
	VOLUME		WEEK
	( 000s)	HIGH	LOW	CLOSE	CHANGE
Gravity West GRW	28111	0.155	0.09	0.115	+ 0.02
Carmax Expl CMX	20153	0.205	0.105	0.11	– 0.08
Sage Gold SGX	19255	0.365	0.20	0.295	+ 0.07
MacDonald Mns BMK	18665	0.72	0.40	0.60	+ 0.175
Spider Res SPQ	12657	0.12	0.08	0.11	+ 0.02
US Silver USA	12268	0.78	0.66	0.75	+ 0.07
New Nadina NNA	11125	0.485	0.125	0.255	+ 0.125
Blue Note Mng BN	10600	0.285	0.245	0.275	+ 0.02
Peak Gold PIK	9324	0.60	0.49	0.56	+ 0.07
Dynamite Res DNR	9060	0.265	0.20	0.225	– 0.025

TSX- V greatest percentage change
		VOLUME		WEEK
		( 000s)	HIGH	LOW	CLOSE	CHANGE
Garrison Intl	GAU	156	0.095	0.055	0.055	+ 266.6
New Nadina	NNA	11125	0.485	0.125	0.255	+ 96.1
Noble Metal Gr	NMG	105	0.305	0.145	0.305	+ 90.6
Petromin Res	PTR	225	0.37	0.25	0.37	+ 85.0
Mountain- Wst R	MWR	29	0.42	0.30	0.42	+ 68.0
Noront Res	NOT	8251	4.30	2.53	4.14	+ 53.3
Canadn Shield	CSP	2147	0.185	0.12	0.18	+ 50.0
Fancamp Expl	FNC	1019	1.74	0.96	1.58	+ 49.0
Eaglecrest Ex	EEL	589	0.205	0.17	0.20	+ 48.1
VVC Expl	VVC	164	0.27	0.19	0.255	+ 45.7
Newport Expl	NWX	127	0.14	0.09	0.095	– 53.6
Carmax Expl	CMX	20153	0.205	0.105	0.11	– 42.1
Belmont Res	BEA	186	0.115	0.09	0.09	– 33.3
Stealth Mnls	SML	872	0.07	0.04	0.05	– 33.3
Hansa Res	HRL	26	0.21	0.15	0.15	– 33.3
Plato Gold	PGC	34	0.09	0.07	0.08	– 33.3
Aguila Am Res	AGL	925	0.15	0.11	0.11	– 31.2
Prophecy Res	PCY	42	0.245	0.20	0.20	– 31.0
Waymar Res	WYM	41	0.22	0.17	0.17	– 30.6
Temoris Res	TMO	164	0.15	0.105	0.105	– 30.0

TSX- V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Seabridge Gold	SEA	118739	26.50	+ 6.50
Noront Res	NOT	8250712	4.14	+ 1.44
Anglo Mnrls	ALM	738335	4.95	+ 1.35
Rainy River Rs	RR	2825908	5.14	+ 1.13
Bear Creek Mng	BCM	287447	8.04	+ 0.91
Andina Mnls	ADM	2764176	4.90	+ 0.70
Kodiak Expl	KXL	4267809	2.85	+ 0.70
Pediment Expl	PEZ	1631124	2.60	+ 0.55
Waratah Coal	WCI	589354	2.19	+ 0.54
Fancamp Expl	FNC	1019081	1.58	+ 0.52
Pac Booker Min	BKM	22580	10.50	– 0.49
Canplats Res	CPQ	3149083	2.30	– 0.40
Midway Gold	MDW	561165	3.55	– 0.37
Digger Res	DIG	43100	1.75	– 0.35
SouthGobi Engy	SGQ	85385	9.40	– 0.30
B2Gold	BTO	358800	1.90	– 0.26
Whitemud Res	WMK	28742	9.00	– 0.25
Pitchstone Exp	PXP	528515	1.23	– 0.22
Uruguay Mnl Ex	UME	92400	3.25	– 0.20
Mansfld Mnrls	MDR	248049	3.30	– 0.18