President: Joseph A. Kizis, Jr., M.S., B.S., P.Geo.
Chairman: Lawrence Page, Q.C., B.A., LL.B.
Vice President, Exploration: Robert Macdonald, MSc., P.Geo
Homestake Resource Corp., formerly Bravo Gold Corp., focused in 2012 on its Homestake Ridge and Kinskuch properties in northwestern British Columbia. This work included drill delineation of the South Reef deposit at Homestake Ridge and follow up drilling of a potential mineral deposit at Kinskuch. The program also included additional exploration drilling, ground geophysics and further evaluation of several other encouraging exploration targets. South Reef, the third high-grade gold/silver deposit identified by Homestake in the district, and possibly Kinskuch, plus any new discoveries, will be accretive to the NI 43-101-compliant resource estimates for the two deposits already discovered and delineated by Bravo at Homestake Ridge. The project is being advanced as a potential high-grade underground mining operation with current NI 43-101- compliant indicated resources, at a 3.0 grams per metric ton gold-equivalent cut-off, of 191,000 ounces gold and 1.35 million ounces silver (215,500 oz gold-equivalent), plus inferred resources of 530,000 oz gold and 13.47 million oz silver (775,900 oz gold-equivalent). Mineralization is open at depth and along the full 3.4-kilometer (2.1 miles) strike length of the target horizon at South Reef, or nearly twice the cumulative length of previously delineated strike lengths of the Main Homestake and Homestake Silver deposits. In September, Homestake reported a C$1.8 million phase 2 drilling program, funded by partner Agnico Eagle Mines Ltd., was underway and would continue into mid-October at the South Reef property. Six to eight holes were planned to test the 600-meter strike length of the South Reef trend, including several hangingwall and geophysical targets. The 2012 phase 1 and phase 2 budgets totaled C$2.5 million. Homestake also added another 2,964 hectares (7,324 acres) in two claim groups to the Kinskuch property, bringing the claim package to 623 square kilometers (240 square miles).
Cash and short-term deposits: C$151,793 (April 30, 2012)
Working capital: (C$46,111) (April 30, 2012; raised C$1.26 million public offerings in July-August 2012)
Market capitalization: C$11.07 million (Sep. 21, 2012)
Suite 1100 - 1199 West Hastings Street
Vancouver, B.C. Canada V6E 3T5
Tel: 604-684-9384 • Fax: 604-688-4670