NioGold has consolidated a large 100 km² land package in the heart of the prolific Malartic and Val-d’Or gold mining camps, located in the Abitibi region of Quebec, that includes the Marban Block (100% interest), Malartic Hygrade (100%), Malartic H (option for 60-80%), Camflo West (100%), Héva (100%) and Siscoe East (50:50 JV) properties. The Malartic and Val-d’Or camps have produced over 27 million ounces of gold and presently encompass several active advanced exploration and mine development projects such as Canadian Malartic (Osisko Exploration), Goldex (Agnico-Eagle), Kiena (Wesdome), Midway (Northern Star Mining) and Lac Herbin (Alexis Minerals).

     Land Position within the Abitibi Gold District
     Potential for Gold Discoveries at Depth

The contiguous Marban Block, Malartic Hygrade, Malartic H and Camflo West properties cover a 13 km stretch of a major gold mineralised structural zone known as the Norbenite-Marbanite. The Marban Block property encompasses six distinct gold deposits, namely the former Norlartic, Kierens (First Canadian) and Marban mines and the North-North, North and Gold Hawk Zones. Past production from the Norlartic, Kierens and Marban mines amounted to 592,000 ounces of gold. On the Malartic Hygrade and Malartic H properties, the Norbenite-Marbanite structure is host to a partially drill defined 1,000 m by 250 m porphyry-type gold mineralised system known as the H Zone. Further to the northwest, the Camflo West property covers a 7 km under-explored stretch of the Norbenite-Marbanite. Geophysical surveys and geological studies have outlined high priority targets along this trend.

The Siscoe East property, located in the productive Lac De Montigny sector of the Val-d’Or Camp, covers a segment of another major structure known as the K Zone. The neighbouring former Sullivan and Siscoe mine gold ores are localised in competent intrusive rocks proximal to the K Zone.

       
Mineralization in Core Samples

Gold Resources

In 2006, the Company compiled all historical mine and drill hole data and completed 10,000 m of drilling that was directed at confirming historical resources on the Marban Block property. Independents consultants Mine Development Associates estimated NI 43-101 compliant indicated resources of 72,000 ounces gold and inferred resources of 270,000 ounces gold at the adjacent Norlartic and Kierens deposits (see table for details). Outside of the Norlartic and Kierens deposits and within a 2 km by 1 km area, the Marban Block holds additional resources of over 170,000 ounces of gold estimated by Aur Resources Inc. in 1989::

• 136,080 tonnes @ 6.86 g/t Au (30,000 ounces gold) at the North Zone;

• 254,016 tonnes @ 8.57 g/t Au (70,000 ounces gold) in Gold Hawk Veins #1 and #2; and

• 754,386 tonnes @ 2.85 g/t Au (70,000 ounces gold) at the North-North Zone.

These estimates are historical in nature, are not compliant with NI 43-101, and should not be relied upon. The Company plans to confirm and expand these resources.

2007-08 Drilling Program Results

NioGold completed 37,830 m of drilling in 102 holes during 2007-08. The majority of the drilling (88 holes, 31,730 m) investigated the former Marban mine sector on the Marban Block property, where two holes drilled in late 2006 returned significant near surface intersections of 10.8 g/t Au over 4.0 m and 8.0 g/t Au over 2.3 m. The 2007-08 program over the sector returned intersections of economic interest:

• Over 500 metres along the West Extension of the mine zones (ex. 6.5 g/t Au over 7.0 m; 9.4 g/t Au over 2.3 m; 7.6 g/t Au over 4.0 m; 23.4 g/t Au over 1.1 m; 78.9 g/t Au over 3.0 m; 21.6 g/t Au over 1.1 m; 6.3 g/t Au over 6.0 m; 10.2 g/t over 2.5 m; 6.4 g/t over 2.3 m; 13.9 g/t over 1.2 m; 28.8 g/t over 1.2 m);

• along the vertical extensions of the mine zones (ex. 6.2 g/t Au over 3.0 m; 15.4 g/t Au over 1.8 m; 6.5 g/t Au over 3.0 m; 6.1 g/t Au over 6.5 m; 9.8 g/t Au over 3.0 m; 9.5 g/t Au over 1.2 m; 9.7 g/t Au over 1.2 m; 5.5 g/t Au over 4.3 m; 7.6 g/t Au over 4.6 m; 17.7 g/t over 4.3 m);

• within the newly recognized Wedge Zone et Upper Wedge Zone (ex. 5.4 g/t Au over 4.0 m; 4.3 g/t Au over 7.0 m; 13.1 g/t Au over 1.9 m; 9.8 g/t Au over 3.1 m; 16.7 g/t Au over 1.2 m; 6.1 g/t Au over 2.4 m; 42.8 g/t Au over 1.0 m; 26.7 g/t Au over 1.2 m; 6.0 g/t Au over 7.6 m, 7.2 g/t Au over 4.8 m, 6.0 g/t Au over 7.6 m); and

• within the ultramafic units located north and above the mine (ex. 6.5 g/t Au over 2.4 m; 6.2 g/t Au over 2.8 m; 18.1 g/t Au over 3.7 m; 31.7 g/t Au over 2.2 m; 16.6 g/t Au over 1.2m, 11.6 g/t Au over 1.0 m).

The 2007-08 drilling program demonstrated that the Marban mine gold mineralised system is much larger than previously defined where at least ten easterly striking, moderately north-dipping, gold mineralised zones have been traced over a strike extent 1.2 km. The east and depth extensions of the system remain to be fully investigated.

Upside

NioGold has consolidated a large land package within the heart of an established gold mining district in the mining friendly jurisdiction of Quebec that permits for cost effective exploration and development. The grounds were acquired for their potential for near term gold resource definition and cover large under-explored sectors located along known mineral trends deemed highly prospective for new gold discoveries.

The Company plans to focus the next phase of drilling on resource development, principally on the promising Marban and H Zone gold mineralised systems, as well as test priority targets on the Camflo West and Siscoe East properties generated from the compilation and interpretation of geophysical surveys and geological/structural studies.