The Pump Lake property is located 200 km southeast of the town of Val-d’Or and 50 km north of the Mt-Laurier uranium district, Quebec. Under an option agreement signed in February, 2007, NioGold is acquiring a 100% interest in the property from Ressources Maxima.

Pump Lake is an early stage project that displays characteristics comparable to the Iron Oxide-Copper-Gold (IOCG) class of mineral deposits. IOCG’s are typically large 100 Mt to >1,000 Mt intrusive-related polymetallic systems hosting ores of iron, copper, gold, silver, uranium, niobium, and rare earth elements (REE). World-Class examples of IOCG’s are found at Olympic Dam and the Cloncurry district (Australia), Candelaria (Chili), Salobo (Brasil), and the Kiruna district (Sweden).

Prospecting by Ressources Maxima during the past two years resulted in the discovery of several copper-gold-silver, magnetite, and uranium occurrences associated to an alkaline intrusive complex recently uncovered by regional mapping conducted by the Ministry of Natural Resources of Quebec.

A high-resolution airborne geophysical survey and a regional soil sampling geochemical survey were conducted during the spring of 2007. A field program conducted during the summer and fall provided exciting results that further confirmed the presence of an IOCG-type mineralised system over the project area. Field work resulted in the discovery of a radioactive intrusive dyke swarm presently traced over a strike extent of 3 km. The intrusives and surrounding rocks are found to be enriched in uranium, niobium and rare earth elements with significant values of up to 0.20% U3O8, 1.20% Nb2O5 and 0.69% REE obtained from surface rock chip samples. A mechanical stripping and trenching program, planned to uncover several copper-gold-silver, uranium and iron oxide prospects, was initiated during the late fall of 2007 but the work was hindered by early snow fall. The program is planned to resume during the spring of 2008.