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Vanadium |
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| Our investment in
Stonegate Agricom |
| In November 2009, Rocky
Mountain entered into an agreement with
Stonegate Agricom Ltd. to sell a 100% interest
in the Paris Hills phosphate/vanadium project.
As consideration for the acquisition, Stonegate
paid Rocky Mountain $1,000,000 in cash and
issued 6,000,000 common shares of Stonegate
valued at $0.50 per common share. |
| Stonegate is a private
Canadian company engaged in the acquisition,
exploration, and development of agricultural
nutrient projects. Stonegate's primary
focus has been the development of the Mantaro
Phosphate Project located in Peru. |
| Stonegate's majority
shareholder is Sprott Resource Corp. (TSX: SCP). |
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| Mantaro |
| The Mantaro project is a
phosphate deposit located in the Junin District
of Peru. On August 29, 2008, Sprott
Resource Corp. filed a National Instrument
43-101 compliant Technical Report for the
Mantaro Phosphate Deposit. |
| As outlined in the Report,
the estimated inferred mineral resource on the
Philip concession of the Mantaro Phosphate
Deposit is 45.17 million tonnes grading at 15.4%
P2O5. The phosphate
grade refers to the average grade for the main
mineralized zone (phosphatic sandstone/mudstone)
based on trenching to 2.5 m depth. Inferred
Mineral Resources are not Mineral Reserves, as
Inferred Mineral Resources do not have
demonstrated economic viability. |
| A trenching and drilling
program commenced on a portion of the property
in the first quarter of 2009 with the goal of
increasing the size and confidence of the
existing inferred mineral resource. The program
was expected to be completed by the end of the
third quarter of 2009. |
| To view the NI 43-101 Technical Report
for Mantaro as
prepared by Donald H. Hains, P. Geo and dated
August 27, 2008,
click here to open in PDF format. |
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| Paris Hills |
| The Paris Hills project is a
phosphate and vanadium deposit located in Bear
Lake County, Idaho, U.S.A. On March 5,
2009, Rocky Mountain filed a National Instrument
43-101 compliant Technical Report for the Paris
Hills Phosphate and Vanadium Deposit. |
| As outlined in the Report,
the estimated inferred mineral resource of the
Upper Phosphate bed is 81.1 million short tons
grading 23.1% P2O5.
The estimated inferred mineral resource of the
Lower Phosphate bed is 39.6 million short tons
grading 24.7% P2O5.
Both beds occur within the Phosphoria Formation
and are calculated using a 20% cut-off for P2O5. |
| The estimated inferred
vanadium resource at a cut-off of 0.50% V2O5
is 44.0 million short tons grading 0.79% V2O5
and 9.7% P2O5. |
| To view the NI 43-101 Technical Report
for Paris Hills as
prepared by AMEC E&C Services and dated March
10, 2009,
click here to open in PDF format. |
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| © Rocky Mountain Resources Corp. |
Please read our disclaimer. |