Taldybulak Exploration Licence, Kyrgyzstan

NI 43-101 Compliant Mineral Resource Estimate

In April 2008, Orsu completed a National Instrument 43-101 compliant resource estimate for Taldybulak-Talas porphyry.

The resource estimate was calculated at various gold cut-off grades and incorporates all drilling data obtained for the Taldybulak-Talas copper-gold project by Q1 2008. At a 0.30g/t gold cut-off, the Indicated resource is 79Mt @ 0.63g/t Au and 0.17% Cu and the Inferred resources is 163Mt @ 0.58g/t Au and 0.14% Cu (Table 1).

Table 1; Taldybulak-Talas Copper-Gold Project, Mineral Resource Estimate
(Lero Gold Corp. - April 2008)

Indicated

Cut-off Au g/t	Mt	Au g/t	Au Moz	Cu %	Cu Mlb	Au_eq g/t	Au_eq Moz
0.20	107	0.53	1.83	0.17	388	0.95	3.24
0.30	79	0.63	1.61	0.17	301	1.07	2.71
0.40	61	0.72	1.40	0.18	238	1.17	2.27
0.50	45	0.81	1.18	0.18	181	1.27	1.84

Inferred

Cut-off Au g/t	Mt	Au g/t	Au Moz	Cu %	Cu Mlb	Au_eq g/t	Au_eq Moz
0.20	286	0.43	3.99	0.14	876	0.78	7.18
0.30	163	0.58	3.03	0.14	492	0.92	4.82
0.40	115	0.68	2.50	0.13	336	1.01	3.73
0.50	87	0.75	2.10	0.13	247	1.07	3.00

Note: Au_eq=Au g/t + 2.5x Cu %
Metal equivalent: metallurgical recoveries and net smelter returns are assumed to be 100%.

The resource is based on 20 historical Soviet holes (5,078m) and 34 diamond holes (8,484m) drilled from 2005 through to 2008; a total of 9,534m of surface trenching data was also included in the modelling and interpolation. The mineralisation is located within an east-west trending linear porphyry, with a surface exposure of 1,000m x 400m. The above resource is calculated down to a depth of 500m below surface and is fully supported by drilling; no extrapolation of the resource below the base of the current drilling information was undertaken. The mineralisation remains open to the west and at depth, where an interpreted high-grade core (0.7-0.9g/t Au) was intersected during the 2007 drilling programme.

The resources were calculated within a constrained geological wireframe, limited by external pyrite halo defined by an induced polarization survey and verified by drilling. Post-mineral dykes were modelled and excluded from the reported volume and interpolation run.