Heatherdale owns a 51% interest in Niblack Project LLC, an Alaska-based company held jointly with 49% partner CBR Gold Corp. of Edmonton Alberta. Niblack Project LLC holds 6,000 acres of federal and state mineral claims, 250 acres of patented lands, and related mineral exploration permits, equipment and infrastructure on southeast Alaska's Prince of Wales Island

There are six known high-grade volcanogenic massive sulphide (VMS) target zones within the Niblack mineral claims. Based on a mineral resource estimate released July 9, 2009, the Niblack deposit comprises 2.6 Mt of indicated and 1.7 Mt of inferred resources containing 125 million lb copper, 308,000 oz gold, 244 million lb zinc and 4.5 million oz silver.

Heatherdale believes there is excellent potential for delineating additional areas of high-grade mineralization at Niblack, and is currently undertaking an exploration program to expand known mineral resources. Given its geological endowment and proximity to tidewater in a stable jurisdiction with a long tradition of hardrock mining, Niblack has the potential to support a high-grade underground mining operation in future.

Based on a partnership agreement with CBR Gold Corp. finalized in July 2009, Heatherdale holds several options to increase its ownership stake in Niblack Project LLC in future.

Unless otherwise noted, Heatherdale Resources Limited is solely responsible for the content of the disclosure set out herein.