TSX VENTURE EXCHANGE (March 24, 2008)

U. S. credit market woes trumped gold’s recent surge through the US$1,000-per-oz. threshold, prompting a 99.44-point slide in the S&P-TSX Venture Composite Index, which closed the March 11-17 trading session at 2,564.69. Average daily trading volumes continued to drop over the week to 70 million shares.

The bears continued to dominate the junior board with a meagre 13 exploration companies managing to eke out new 52-week highs against 128 that slumped to new annual lows.

On a couple of large market crosses, Ecometals, formerly Goldmarca, grabbed top volume trading honours for the week with almost 12.5 million shares changing hands. The stock closed off 3 at 33 per share on no news. The company is exploring gold projects in Ecuador and holds interests in iron ore properties in northern Brazil.

Hathor Exploration saw trading volume of more than 8.4 million shares over session, but closed down 35 at $1.88 per share as investors cashed in on recent gains. Drilling at its 90%-owned Midwest Northeast uranium project, in the northeastern area of the Athabasca basin, recently returned an 11.9-metre intercept of 5.29% U₃O₈ that included some narrow, high-grade intervals of up to 40.2% U₃O₈.

Diamonds North Resources posted volume of more than 5.8 million shares, gaining up to 64%. The stock touched $1.41 per share before closing the session down 2 at 84 per share. The company announced high initial diamond counts from additional pipes at its Tuktu kimberlite cluster on the Amaruk property, in the Pelly Bay diamond district of Nunavut.

Shares of Andina Minerals perked up 22 on the week to close at $3.80 apiece on trading volume of over 1.1 million. Recent drilling at the company’s Volcan project, in northern Chile’s Maricunga gold belt, returned intercepts of up to 836 metres grading 0.64 gram gold per tonne, including intervals of 254 metres at 1.2 grams gold.

Xemplar Energy continued to slip, closing the week down 24% — off 71 at $2.25 per share on volume of more than 3 million shares. The uranium explorer has lined up a financing for up to $20 million. Drilling on uranium-mineralized granites at its Warmbad project in Namibia recently returned low-grade U₃O₈ values.

Noront Resources gave back a bit of its recent gains to close the week down 46 at $5.73 per share on a trading volume of 2.7 million shares. The company discovered additional semi-massive to massive sulphide mineralization at its Double Eagle project, in the McFauld’s Lake area of northeastern Ontario, and recently closed a $26-million financing to fund ongoing exploration.

Shares in Consolidated Spire Ventures posted a 58% gain on the session, closing up 7 at 19 on volume of more than 2.1 million shares. The junior is gearing up for this year’s exploration campaign at its Prospect Valley gold property in B. C.