Quick Facts

Lac Dore V-TI-Fe Project

Lac Dore Vanadium-Iron-Titanium Project - Apella began acquiring claims on the north eastern extension to Lac Dore in spring 2007, while the company staked the Lac Dore deposit itself on 21st August 2007, exactly 30 days after the previous claims on the project expired. During the process a competitor, the Quebec-government owned exploration company SOQUEM also staked 21 of the same claims, some of which cover the Lac Dore Deposit, and in September 2009 the Quebec Ministry awarded 9 of the claims under contention to Apella, 2 to SOQUEM and the remaining ten are still to be decided.  These 9 claims give Apella a majority interest in the Lac Dore Deposit. Known as 2nd largest Vanadium deposit in the world, the Lac Dore Deposit contains a massive historical resource of over 102 Million tonnes (non Ni-43-101 compliant) which equates to around 5.5 Billion pounds of Vanadium Pentoxide. Apella is confident in their quality of staking of the original deposit and thus has filed an appeal for the balance of the claims staked by Soquem. The company owns 100% of the claims covering the Northeastern extension of the deposit which they believe to be much larger than the original Lac Dore deposit itself.

Highlights

• Includes Apella’s claims covering the majority of the Lac Dore Deposit, reported to be the largest Vanadium deposit in North America and second-largest in the world
• Deposit dips approximately 70% south
• Previous work outlined a resource of approximately 5.5 billion pounds of Vanadium Pentoxide along with Iron and Titanium.(non NI-43-101 compliant)
• A 2002 feasibility study recommended development of a mine and processing facilities, with capital costs estimated at $364 million, including equipment and infrastructure. (Pre-NI-43-101)
• Apella is awaiting Quebec Government approval of additional Lac Dore claims.
• 2008/9 Channel sampling returned results of up to 1.089% V2O5, 12.30% TiO2, and 70.8% Fe
• 2009 Drill Program successfully intersected mineralization at depth in six holes
• 2009 Magnetic Survey completed indicating additional drill targets

Lac Dore Milestones

• Stripping and Channel Sampling Program Completed Fall 2008
• Initial 10 Hole Drill Program to test NE Extension of main zone Completed Summer 2009; with disseminated to massive magnetite intersected in holes 1 through 6
• Surface Magnetometer Survey –Completed in August 2009 by Geosig; Defined strong magnetic anomalies over 3700 metres
• Stripping and Channel Sampling Program #2 Completed Summer 2009