Mali West Land Package

In Mali West, Etruscan has over 600 km2 that is contiguous with the Sadiola property of AngloGold Ashanti and IAMGOLD. It covers the southern extension of the Mali West Shear Zone along strike of the 14 million ounce Sadiola Mine in the Kofi Formation as well as prospective ground to the west in the Keniebandi Formation. The most important gold deposits in Mali West (Sadiola, Yatela, Loulo and Tabakoto-Segala) all occur in rocks of the Kofi Formation in proximity to the eastern boundary of the Mali West Shear Zone.

In the Keniebandi Formation, Etruscan made a significant gold discovery at Diba in 2006. Diba is characterized by disseminated gold in a broad low grade (0.1 to 0.5 g/t) halo over 20 to 50 meters in thickness with narrow bonanza grade intercepts of 60-900 g/t over 1 to 2 meters. Mineralization is hosted in an arkosic sedimentary package which is open downdip to the east. A number of reconnaissance holes northwest of the main deposit intercepted wide zones of low-grade gold mineralization in a series of intrusive rocks. Exploration drilling will continue to focus on these two aspects of Diba.

The discovery at Diba and subsequent confirmation by diamond drilling of similar mineralization 10 kilometers to the south at Kobokotosou, and indications from auger drilling of another system 30 kilometers to the south at Keniebandi strongly suggest that Etruscan may have discovered a new district-scale gold belt with potential for additional new discoveries.