FINLEY BASIN, MONTANA

 Juno has acquired 276 granted mineral lode claims covering about 2,200 hectares at Finley Basin Montana.

The central 20 claims, covering Union Carbide's Ho Mountain Project, were acquired in March for US$165,000. A further 256 claims were lodged around Ho Mountain to cover the highly prospective contact between the granite and limestone. A number of silver and base metal mines and prospects are located along this contact.

Union Carbide drilled 12 diamond drill holes in their Ho Project and 13 into Ho North, both within the current Finley Basin Project.

Drilling indicated the presence of mineralisation at average grade about 0.7% WO³. The initial exploration target at Ho Project is about 800,000
tonnes of ore.

The mineralisation lies in skarns along the contact between the Mississippian Madison Formation and the underlying granites, although tungsten was observed in tactites of the overlying Amsden Formation. Drilling also intercepted an overlying 70-metre thick breccia which outcrops at surface in places and which contains silver and copper oxides, however Union Carbide not not routinely assay for gold, silver and base metals. Surface samples from within the project area have been assayed with the best sample assaying 18.2oz/ short ton (604 g/tonne) silver, 3.4% copper, 0.79% lead and 2.86% zinc.

Mineralogical studies carried out for Union Carbide in 1978 indicated that the tungsten mineralogy should not pose a problem to beneficiation. Tests indicated that the effective sheelite liberation from the heavy gangue minerals is at least 97% of 90 microns. Scheelite was the only tungsten mineral studied.

There is considerable potential for extension of the tungsten mineralisation as well as for silver, copper and other base metals, within the expanded project area.

An aeromagnetic survey of 1,135 line km
at 100m line spacing, and field mapping,
were completed in October, preparatory
to confirmatory drilling in 2009.