In order to understand the NEW, the blog provides something OLD which will assist the reader in identifying the players and better understand the current dynamics, the blog provides a 13 September 2007 org chart which should facilitate your reading comprehension (a larger version of the chart is available here)   

On 30 December 2008, the Quebec’s Bureau de décision et de révision en valeurs mobilières extended its cease trading order which it had issued in October 2008 (as previously mentioned another hearing is scheduled for 19 January 2009).

Notably absent from the 30 December 2008 hearing: HE-5 Resources corporation, Serge Ollu, Denyse Raynault, Jacques Vallée and Andrea Cortellazzi.

This being said it is worth noting that since the Quebec’s Bureau de décision et de révision en valeurs mobilières decision in October 2008, the three (3) main corporate subjects of this blog: He-5 Resources, UMining Resources and M45 Mining Resources have all declared to have “new” management.

On 5 November 2008, Mr. Cortellazzi CEO of M45 Mining declared he was stepping down and “new” management was taking over.  On 1 December 2008, UMining (now Universal Mining) declared it was under “new” management. Most recently, on 9 January 2009 to be more specific, He-5 Resources declared that it was under “new” management.  

M45 Mining Resources 

It is interesting that while Mr. Cortellazzi has declared to have resigned as President and CEO of M45 Mining Resources, the 5 November 2008 press release makes no mention of his current status as a shareholder.

Mr. Cortellazzi’s last filing with the SEC indicated that he was owed $292,935 as of 30 June 2008, a modest amount considering a previous declaration indicated that on 31 March 2008 the amount owed was $ 186,401 and previous to that the amount owed on 31 December 2007 was  declared to be $ 748,491.

Mr. Cortellazzi’s associate Mr. Gilles Ouellette remains as Secretary and Treasurer of the company according to the most recent declaration with the State of Nevada.

Moreover, the 5 November 2008 press release is silent on the 15 August 2007 shareholder agreement filed at the SEC in 2007  in which Mr. Cortellazzi (former CEO M45 Mining) and Mr. Ollu (husband of former He-5 Resources CEO Denyse Raynault) and Jean Michel De Montigny (former CEO of UMining) appear as significant shareholders of M45 Mining.

 M45′s website remains inaccessible because the account has been suspended.

M45 Mining’s corporate address registration with the Quebec Ministry reponsible for mining remains as Mr. Cortellazzi’s 1212 Redpath Crescent.

Last but not least, M45 Mining claims have begun to expire with the Quebec Government.

UMining Resources/Universal Mining Corporation

It is worth mentioning to readers that the 3 December 2008 press release announcing the “new” management of UMining Resources now known as Universal Mining Corporation is completely silent on the previous mining experience of the “new” corporate executives.

Moreover, it is also worth pointing out that Universal Mining Corporation’s (formerly UMining) share structure increased significantly to 500,000,000 on 21 November 2008 (seen below), just a few days before the 1 December 2008 press release announcing the “new” management.   Even more interesting is the sudden increase of “employees” at Universal Mining, formerly UMining. Last year, the company had no employees,  on 5 December 2008 it declared that it had ten (10) “employees”.

Other observant souls have raised significantly interesting observations on 11 December 2008,  14 December 2008,  20 December 2008,  even a voice from the past has reappeared.

He-5 Resources

Currently, He-5 Resources is without a doubt the most interesting of the Cortellazzi Consortium threesome. 

He-5 Resources not only announced that it had “new” management, it went even further by declaring that “new” management had been in place since July 2008:

Jan 09, 2009 09:44 ET

HE-5 Resources, Corp. Announces Reorganizational Changes Are Completed and New Management Now in Place

GENEVA–(Marketwire – January 9, 2009) – HE-5 Resources, Corp. (PINKSHEETS: HRRN) today announced that HE-5 Resources, Corp. has completed its reorganizational changes following completion of the transaction concluded in July 2008, by the European Finance Group “Lington Financial Limited.”

New Management has Been Appointed For New Business Orientation Plan to Begin in 2009.

New Management stated the following: “We are very pleased to begin our new operations and to share our visions and exclusive development program whit HE-5 Resources, Corp.’s shareholders. Our first objective was to complete a full diligent reorganizational plan, to bring the Corporation to a debt-free status, in order to start transferring new intellectual properties, assets, and potential new businesses.”

The choice of dates by He-5 Resources should come as no surprise to anyone monitoring events considering that it conveniently places the transaction before the issuance of a cease trading order by the Quebec’s Bureau de décision et de révision en valeurs mobilières in October 2008, thereby providing Mr. Serge Ollu, his wife Denyse Raynault and Jacques Vallee with a “justification” to avoid appearing before Quebec’s Bureau de décision et de révision en valeurs mobilières. The basis for the selection of the vague July 2008 date in the most recent He-5 Resources press release lies in the transaction of claims by Denyse Raynault to Excel Gold Mining during this time frame which is the last known date in which Denyse Raynault’s name appears on a public document.         

However, the facts do not provide them with any such relief. 

Indeed, it is only recently that “new” management in the form of Mr. Franck Martin and his partner Mrs. Catherine Puschmann have publicly appeared (Mr. Martin’s given name is incorrectly spelled in Pink Sheets information which appears below) as corporate executives as CEO and Treasurer of He-5 Resources.

 

Corporate changes filed with Pink Sheets by Mr. Martin and Mrs. Puschmann do not fully reflect the recent changes made with the State of Nevada which records these changes (Mr. Martin’s given name is incorrectly spelled in the information which appears below) on 18 December 2008 the share structure of He-5 Resources was significantly altered by declaring a stock split and increasing the authorised share structure to 500,000,000.

   

More interesting is the fact that He-5′s  ”acquiring” company, Lington Financial Limited has only recently created a web presence as it registered its domain name on 4 December 2008.

Ht-Tendance  another of Mr. Martin and Mrs. Puschmann’s corporate entities. A previous enterprise was an online conciergerie for busy corporate executives called Village VIP, the domain registration remains in the name of Mr. Martin.   

        

Since September 2008, Mr. Martin and Mrs. Puschmann have been promoting a Quebec artist who has based his studio in Europe. The newly created Lington Financial website provides an interesting view into the proposed activities of this new company which includes “Art Investment”.

 

The bio medical and social networking activities are particularly interesting to the blog as Mr. Ollu appeared briefly as the registrant for a domain name  for a bio medical company and UMining’s former CEO Mr. De Montigny also briefly appeared as a registrant for a domain name for a social networking enterprise.

  

Considering the fact that Izza Minerals (declared by He-5 Resources as its wholly owned Canadian Subsidiary) is one of the companies targeted by the  Quebec’s Bureau de décision et de révision en valeurs mobilières is still registered as being in the hands of Denyse Raynault and Jacques Vallee of Excel Gold Mining (the company which acquired the He-5 mining claims in July 2008).

This is becomes all the more interesting since Excel Gold Mining handed over a significant number of warrants to Denyse Raynault for this “transaction”:

Pursuant to an asset purchase agreement dated June 25, 2008, as amended July 22, 2008 (the “Agreement”), Excel has acquired all rights, title and interest in the Property in consideration for the allotment and issuance of 5,200,000 units (the “Units”), as opposed to the previously disclosed amount of 8,000,000 Units, each Unit comprising one fully-paid and non-assessable common share in the capital stock of the Company valued at $0.20 (the ”Shares”) and one half (1/2) share purchase warrant, each full warrant (the ”Warrants”) allowing its holder to purchase one Share at a price of $0.22 per Share for a period of twenty-four (24) months following the date of the execution of the Agreement (the foregoing being collectively referred to as the “Transaction”), the whole subject to regulatory approval.

Many of the claims involved in the July 2008  ”transaction” have expired since their “acquisition” by Excel Gold Mining as can be seen in these screenshots of the Quebec MRNF: 

Currently, only 8 of Izza Minerals’ 40 registered mining claims are still active as can be seen in these screenshots of the Quebec MRNF:

Finally and most interestingly, the recent 9 January 2009 press release mentions that He-5 will seek debt free status in these difficult economic times.

New Management stated the following: “We are very pleased to begin our new operations and to share our visions and exclusive development program whit HE-5 Resources, Corp.’s shareholders. Our first objective was to complete a full diligent reorganizational plan, to bring the Corporation to a debt-free status, in order to start transferring new intellectual properties, assets, and potential new businesses.”

Some may recall that according to financial statements signed on 15 May 2007 by Denyse Raynault the modest sum of $970,000.00 was advanced by an unidentified benefactor, one can only wonder about the identity of this person and the level of control this person still exerts on He-5 : 

NOTE PAYABLE TO A SHAREHOLDER

(Subject to Revision)

The sum of $970 000 was advanced by a shareholder in the form of a convertible debenture bearing interest starting March 1st, 2007, at prime +2% payable annually. The sum is reimbursable at the rate of 10% of the capital every quarter following the date when the Company starts to generate profits. The lender has the option to convert it into equity at a 20% discount commencing on the extraction phase start date.

This being said, the blog wishes to add that it is truly impressed by the signficant number of subtly misspelled names which consistently appear in press releases and filed in government documents by various Cortellazzi associates.

In SEC filings, Mr. Cortellazzi’s name appears in three (3) variants, Mr. Ouellette’s name appears in three (3) variants as well. Mr. Martin’s given name  Franck (which is quite distinctive) appears as Frank in Pink Sheets and Nevada State government documents. 

Universal Mining’s (formerly UMining) Secretary Maria Spiliopoulos (a former exec for W5 Star.com a prepaid card company which had dealings with Smart Card Marketing Systems Inc. PINKSHEETS: SMKG) appears as incorrectly as Spiliopolous in a recent press release. 

The Platters can sing the song, however the Cortellazzi Consortium are without a doubt the true masters of smoke.

Universal Mining Corporation, formerly known as UMining Resources Inc (UMNG), and previous to that as Globex Inc. (GLXI).  

Universal Mining’s focus is on Gold mining claims in Guinea:

“Universal Mining Corporation is a mining company who is mainly focused on obtaining mining permits and rights, exploration permits and the acquisition of small open pit gold mines from independent or private entities.”

However, Universal Mining’s activities in Guinea will be seriously curtailed owing to their links with the old regime and the anti-corruption platform of Guinea’s new government.

Moreover, Mr. Camara’s military junta has decided to control mining contracts and their first decision was to declare an immediate moratorium on gold extraction:  

“We have blocked the mining sector. There will be a renegotiation of contracts,” he said.

“In gold mining areas, the decision has already been taken: no more extraction until further notice.” 

In his speech to around 1,000 representatives of political parties, trades unions, and civil and church groups, Camara denounced “ministers who surrounded the head of state who looted the country, who constructed buildings, and had bank accounts everywhere.”

“For the person who embezzles money, there won’t be a trial. They’ll be killed,” he said. 

This being said, the Cortellazzi Consortium has more pressing concerns  in the form of upcoming litigation concerning a cease trade order and frozen Royal Bank account at the Quebec Securities bureau (Bureau de décision et de révision en valeurs mobilières).

Regular Cortellazzi Consortium watchers may recall a March 2007 press release which mentions the Royal Bank of Canada and this 2007 Wall Street Reporter interview (available for download here)  in which someone identifying himself as Jonathan Marrone, a former UMining executive mentions the Royal Bank of Canada.   

The upcoming hearing is scheduled for this 30 December 2008 in Montreal.

Since October 2006, the 1212 Redpath Crescent address has been used in a significant number of US and Canadian government documents.

In October 2006, Mr. Cortellazzi registered 1212 Redpath Crescent with the corporations registry of the Quebec government, this fact was noted in a message board post on 30 March 2007.

The same message board poster added on 3 April 2007 that 1212 Redpath Crescent had been registered with the City of Montreal municipal role for taxation purposes as belonging to Coastal Holdings (COHG).

This City of Montreal registration (seen below) appeared on this blog last October 2007:

According to latest public information, the State of Nevada lists Coastal Holdings (COHG) (a company which the blog made significant observations last year) as an active corporation with an address at 1212 Redpath Crescent:

Notwithstanding last week’s announcement by M45 Mining of Mr. Cortellazzi’s resignation, M45 Mining remains listed with Pink Sheets at 1212 Redpath Crescent.  

Over the last year, Mr. Cortellazzi’s Coastal Holdings has morphed into 2 other business entities which are: Canadian Blue Gold (CBGC) which preceeded Boreal Water Collection (BRWC) as may be seen in this recent Pink Sheets entry for Boreal Water Collection :

However, Nevada corporations registration for Boreal Water Collection (BRWC) still lists Mr. Allain Barriere who was the CEO of previous company Canadian Blue Gold (CBGC) of whom the blog wrote extensively in October last year:

This being said, the blog observed with great interest the recent and subtle change of ownership which now lists Mr. Cortellazzi personally in lieu of Coastal Holdings (COHG) on the latest City of Montreal evaluation of 1212 Redpath Crescent (seen below)

As with all endeavors by Mr. Cortellazzi, things are in a constant state of flux. 

Now You See It, Now You Don’t!

However no mention is made of Mr. Cortellazzi’s presence as shareholder, nor of his associates Mr. Serge Ollu and Mr. Jean-Michel de Montigny who appear on the following document filed at the SEC last year in which all three had significant numbers of shares in M45 Mining.

 Then again, it would be surprising this slip would be of significant concern to Mr. Cortellazzi and Mr. Ollu as government securities regulators in Quebec have issued a court order concerning illegal securities trading activities and ordered transaction on bank account to be frozen in regards to Ressources minières Andréane inc, Izza Minerals inc. and HE-5 Resources corporation.

Names identified in the 8 October 2008 decision of the Bureau de décision et de révision en valeurs mobilières (BDRVM) are well known to regular readers of this blog:

MONTRÉAL, le 29 oct. /CNW Telbec/ – Le 8 octobre 2008, à la demande de l’Autorité des marchés financiers, le Bureau de décision et de révision en valeurs mobilières (BDRVM) a prononcé une ordonnance de blocage et d’interdiction d’opération sur valeurs visant diverses sociétés et individus liés à la société Ressources minières Andréane inc.

    Plus spécifiquement, le BDRVM a interdit aux sociétés Ressources minières Andréane inc., Minéraux Izza inc., HE-5 Resources Corporation ainsi qu’à Denyse Raynault, Jacques Vallée, Serge Ollu, Yves Renaud et Marie-Hélène Frigon d’effectuer, directement ou indirectement, toute opération sur valeurs, notamment sur les actions de Ressources minières Andréane inc., Minéraux Izza inc., HE-5 Resources Corporation.

    Le BDRVM a également ordonné aux mêmes sociétés et individus de ne pas retirer de fonds, titres ou autres biens dans un compte ouvert dans une succursale de RBC Banque Royale.

    Le BDRVM s’est montré particulièrement inquiet des allégations suivantes soulevées par l’Autorité :

    - Les investisseurs recevraient les titres d’un émetteur dont ils n’ont jamais entendu parler;

    - Le placement des actions d’Andréane s’effectuerait sans qu’aucun prospectus soumis au visa de l’Autorité n’ait été établi;

    - HE-5 Resources Corporation et Minéraux Izza inc. fourniraient des informations fausses ou trompeuses aux investisseurs;

    - HE-5 Resources Corporation serait en défaut de ses obligations en vertu des lois américaines depuis le 6 janvier 2008;

    - Il n’y aurait pas d’information financière conforme à la Loi sur les valeurs mobilières concernant Ressources minières Andréane inc., Minéraux Izza inc. et HE-5 Resources Corporation;

   – À toute fin pratique, il serait extrêmement difficile de contacter Ressources minières Andréane inc., Minéraux Izza inc., HE-5 Resources Corporation et leurs dirigeants.

The Quebec securities decision in which Mr. Cortellazzi is also identified as a party refers to group of three (3) investors who in 2006 acquired shares in Ressources minières Andréane inc. The blog refered to this company in September 2007 as one of the claims evaluated by InnovExplo for a NI 43-101:    

The West Wind property owned by M45 Mining Resources Inc. (formerly known as Quantitative Method Corporation) represents an area of 1,368.35 hectares (61 claims; purple outline in Figure 4.2). In GESTIM, sixty-one (61) mining titles (51 claims for 811.19 hectares and 10 cells for 557.16 hectares totalling 1368.35 hectares) are registered 100% to Quantitative Methods Corporation. According to Jean-Claude Dentinger, representative of M45 Mining Resources Inc., all these mining titles are without any royalties attached. On the West Wind property, thirty-two (39) other mining titles (15 cells for 835.5 hectares and 24 claims for 363.37 hectares totalling 1198.87 hectares) are owned HE-5 Resources Corporation. In GESTIM, thirty-two (32) mining titles (24 claims for 363.37 hectares and 8 cells for 445.6 hectares totalling 808.97 hectares) are registered 100% to Ressources Minières Andreane inc. and seven (7) cells (389.9 hectares) are currently registered 100% to Marcel Roy. According to Jean-Claude Dentinger, also representative of HE-5 Resources Corporation, all these mining titles are presently under transfer to HE-5 Resources Corporation without any royalties attached. HE-5 Resources Corporation mining titles are illustrated with a grey outline in Figure 4.2.

Ressources minières Andréane inc. was listed with the Quebec securities agency however the shares were offered to these three (3) 2006 shareholders without a prospectus.

When these shareholders began to express well founded concerns about their investment in since they had never received any share certificates, they were informed to call Mr. Ollu at 514-288-0888  (on one such occasion a shareholder was refered to “Andrea”) to express these concerns and demand their money.

In May 2008, instead of receiving their investment money the shareholders received shares in IZZA minerals Inc., a company which is not registered with the Quebec securities regulator.

The IZZA share certificates issued to these shareholders were signed by Mr. Jacques Vallee,  who has recently been appointed as a director of Excel Gold Mining.

Regular readers may recall that Excel Gold Mining has been acquiring claim properties from Mr. Ollu’s wife Denyse Raynault. Interestingly, this acquisition had suffered a few issues which are mentioned in a later press release. 

Ms. Raynault is mentioned in the decision as one of the two co-signors of the Royal Bank Account which assets have been frozen. The other co-signer of this bank account is Yves Renaud, former CFO of Coastal Holdings in which Mr. Cortellazzi was the main shareholder and which Ms. Raynault’s husband Serge Ollu was an officer.

The decision also reveals the mysterious TSX venture corporation mentioned in a 26 June 2007 He-5 Resources press release and cites a 11 December 2007 press release in which the TSX corporation explains the reason for the cancellation was because the He-5 claims were not as valuable as He-5 had been touting in its press releases, neither of the properties offered up had met the minimum $100,000.00 threshold required by the TSX:

The Corporation and PrivateCo entered into an amended letter agreement on October 11, 2007 and shortly thereafter filed revised documentation with TSX Venture. After completing their review of the amended terms of the transaction and the National Instrument 43-101 geological reports regarding the properties of PrivateCo, TSX Venture advised that the properties do not meet the minimum listing requirements of TSX Venture without further exploration work. PrivateCo had previouly advised the Corporation that they and their counsel had completed this analysis, and had confirmed the properties would meet the mininum listing requirements of TSX Venture.

The decision hastens to add that no press release was ever issued by He-5 or Izza to state the transaction had been cancelled.

The decision voices profound concerns in regards to the significant number of false and misleading press releases which had been presented at the hearing held on 3 October 2008.       

The Canadian Government had been processing the dissolution of Ressources minières Andréane inc., since May 2008, it was finally dissolved on 17 October 2008 by the Canadian Government, a few days after the Quebec securities regulator’s decision was rendered.   

A Google translation of the Quebec Securities regulator’s decision is available here.

Interested parties may contact Mr. Raynald Besnier, the lead investigator at the Quebec Securities regulator (Autorité des marchés financiers (AMF)) at 1 877 525-0337

Hail, Hail, the Gang’s All Here

The Pirates of Penzance

While media attention was focused on Mr. Djokich, the Security and Exchange Commission (SEC) announced that it had filed a civil complaint against M45 Mining for securities registration violations and M45 has agreed to settle the charges:

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 20790 / October 24, 2008

Securities and Exchange Commission v. M45 Mining Resources, Inc. and Eden Miller, Civil Action No. 2:08-CV-1456 U.S.D.C./District of Nevada (Las Vegas Division)

SEC Sues Mining Company for Securities Registration Violations and Stock Promoter for Blast Text Message Touts Sent to Cell Phone Users

On October 23, 2008, the United States Securities and Exchange Commission (Commission) filed a civil complaint against M45 Mining Resources, Inc. (M45), a Quebec, Canada-based mining company, and Eden Miller, a California and Nevada-based stock promoter. According to the complaint, M45 violated the registration provisions of the federal securities laws, and Miller violated the registration and anti-touting provisions of the federal securities laws. M45 and Miller have agreed to settle the charges against them, without admitting or denying the Commission’s allegations.

In its complaint, the Commission alleges the following: M45 files periodic reports with the Commission, and in 2007, its common stock traded on the Over the Counter Bulletin Board. In April 2007, M45 entered into a consulting agreement with I-Vest Global Corporation LLC (I-Vest), a now inactive Nevada limited liability company. Miller operated I-Vest and signed the consulting agreement on its behalf. Under the consulting agreement, I-Vest agreed to promote M45′s stock and, in return, M45 agreed to issue one million “free trading shares” to I-Vest. On or about April 5, 2007, M45 filed a Form S-8 registration statement with the Commission which, among other things, attempted to register the offer and sale of one million shares to I-Vest. Generally, Form S-8 cannot register an offering of securities that is made to companies (rather than individuals), or that compensates stock promoters for their promotion services. Shortly after receiving the one million shares, Miller and I-Vest began promoting M45. In May 2007, Miller “profiled” M45 on I-Vest’s website and touted M45 by sending out thousands of blast, unsolicited text messages to cell phone users. The touts by Miller and I-Vest failed to disclose the stock compensation paid by M45. Between May 2007 and October 2007, Miller liquidated the one million shares of M45 stock. Miller retained half the proceeds and transferred the other half to an associate that referred him the M45 business. 

The Commission alleges that M45 violated Sections 5(a) and 5(c) of the Securities Act of 1933 (Securities Act), and Miller violated Sections 5(a), 5(c), and 17(b) of the Securities Act. M45 and Miller consented to judgments that permanently enjoin them from future violations of these provisions of the federal securities laws, and Miller has also agreed to pay disgorgement of $129,630 plus prejudgment interest of $7,162.

The staff’s investigation into this matter is ongoing.  

M45 Mining’s website is currently unavailable for viewing as their account has been suspended (screen shot below):

The SEC’s final words in the 24 October 2008 announcement were: “The staff’s investigation into this matter is ongoing”.  Mr. Cortellazzi is a seasoned veteran he knows the full significance of MarkTwain’s quote “It is easier to stay out than get out” .

They have become front page material for Canada’s National Post  

The author of the news item is journalist Adrian Humphreys and his area of expertise is organized crime.

Mr. Humphreys knows a thing or two about organized crime in Canada having written extensively on the subject, his latest work concerns the rise of the Montreal Mafia under Vito Rizzuto . 

Mr. Humphrey’s report on Messrs. Djokich & De Angelis combined with the knowledge of Mr. Humphreys area of expertise makes for a very interesting and revealing read :

Irate investors accused of hiring U. S. ‘hit man’

Adrian Humphreys,  National Post 

Published: Friday, October 24, 2008

Two Canadian businessmen have been arrested in the United States, accused of hiring a hit man to snatch a Calgary lawyer from his tropical island estate and kill him in an elaborate plot to recover millions of dollars lost in a flimsy investment.

The tale of investor revenge that was allegedly taken to a dreadful extreme includes a severed pinkie finger, a hit list of businessmen involved in half a dozen Canadian companies, and an undercover U. S. law enforcement agent posing as a hit man for hire.

“It’s very distressing,” said Richard DeVries, a lawyer from Calgary now living in the Bahamas who was the intended victim of the alleged plot.

“I am floored by it. Who would want to kill me?” he said when reached by the National Post.

According to U. S. authorities, at least two men: Nicholas Djokich, 57, of Calgary, and Eginardo De Angelis, 72, of Montreal.

They have been charged in Boston with conspiring to kidnap for the purpose of extorting money and a murder conspiracy.

The plot started on July 3 when two men went shopping for a hit man, authorities say.

In an office at Reber America Inc. in Montreal — where Mr. De Angelis worked selling furniture to hotels — someone interested in the hit met the accused men, according to U. S. allegations filed in court.

Mr. Djokich allegedly said the target was Mr. DeVries. He said Mr. DeVries, who sits on the boards of several private and publicly traded companies, was partially responsible for a loss of about US$175-million in investments, according to a sworn affidavit by Special Agent Derek Dunn of U. S. Immigration and Customs Enforcement.

Mr. Djokich gave the man a photo of Mr. DeVries, his home address in the Bahamas and documents that he said supported his claim to the money.

He asked the man to go to the Bahamas, force Mr. DeVries to wire as much of the money as possible back to him and then maybe kill him, according to Agent Dunn’s affidavit. Unknown to any of the Canadians, the man was a police informant.

After contacting U. S. authorities, the informant again met the men at Reber. There, Mr. Djokich played him a tape of a conversation purportedly between Mr. Djokich and Mr. DeVries.

In the conversation, Mr. DeVries accused Mr. Djokich of kidnapping his partner, Calgary businessman William Lenz.

After playing the tape, Mr. Djokich told the man that he had, in fact, kidnapped Mr. Lenz and said they cut off a finger to make their point, according to Agent Dunn.

Sources confirm that Mr. Lenz was indeed kidnapped in Calgary on June 23, 2006, hooded and threatened to turn over money while his pinkie was severed. The digit was later surgically reattached and no charges were ever laid.

During the ordeal, Mr. Lenz apparently tried to wire US$15-million to his tormenters, but because the bank required him to appear in person, the money was not collected. Mr. Lenz could not be reached for comment.

At the Reber meeting, the informant told the two men (ICE), authorities allege.

Mr. Djokich railed against Messrs. DeVries and Lenz.

The financial dispute is a complicated one involving an investment made through Astral Enterprises Inc. to GSF Ltd. based on a contract involving a third company named Koan Investment Corp., according to documents filed in court.

The deal apparently ran satisfactorily for some years, with wire transfers from GSF to Koan from September, 1998, to June, 2001, before running afoul.

The ICE undercover agent was then told that taking care of Mr. DeVries was only the beginning. Others, as many as five men in several countries, were the next targets of the angry investors, according to the affidavit.

“One at a time,” the agent said, according to a transcript of a recording of the meeting. The “hit man” would need to watch Mr. DeVries in the Bahamas for several days to learn his routine and would need some money to do it, the agent said.

“About 10 grand, up front, non-reimbursable, to go down and check out everything. If it works, that becomes part of the overall price,” the agent said.

“I’m thinking maybe a boat, get a boat out of the [Florida] Keys, just go east and west, you know, the Coast Guard is only looking for boats going north and south, you know, the drug runners.”

Mr. Djokich seemed keen, allegedly saying: “If he refuses and everything, f—, he’s going to the fish. It’s as simple as that.”

The undercover agent replied: “All right, ’cause at the end of the day, you make the call…. You want me to throw him overboard, I’ll throw him overboard. You want me to dust him off and put him back on the pier, I’ll do that too…. I’m like a house painter. You tell me what colour you want to paint the house.”

The men then communicated by e-mail for two weeks, authorities claim.

On Aug. 11, four men met with the undercover agent in a Vermont Starbucks. They arrived in a Buick with a Quebec licence plate. One of them was Mr. De Angelis, authorities alleged.

The agent was given a white plastic bag stuffed with US$10,000 in U. S. currency. The other men have not been charged.

This month, the agent told the two accused men that the plot was finalized, with the kidnapping ready to go when Mr. DeVries visited Florida, authorities say. At a final meeting with Mr. Djokich, the agent asked if there had been a decision on whether to kill Mr. DeVries.

“Angelo wants him wiped out,” Mr. Djokich allegedly said, using Mr. De Angelis’ nickname. They agreed to US$40,000 more as the fee, on top of the US$10,000 front money.

Mr. Djokich was arrested on Saturday in Los Angeles after flying from Calgary on a business trip.

Mr. De Angelis was arrested on Monday in Atlantic City, N. J., after arriving on a tour bus from Montreal, apparently on a pleasure trip.

Mr. DeVries said anger towards him is misplaced.

“I was simply acting as a lawyer. I received trust funds. I dispersed the trust funds and because I [moved] to the Bahamas, they reached the conclusion I must have stolen the money,” he told the Post, adding there was nowhere near US$175-million involved.

“I was simply acting as a lawyer, handling trust funds. That’s all I did. I was acting on behalf of a client…. The money was lost in a bad investment.”

The arrests bring him comfort.

“I applaud the efforts of police, believe me,” he said.

Michel Coretti, a spokesman for Montreal’s Reber America, said he knows nothing of the alleged plot, but said Mr. De Angelis is a good man and will be found not guilty.

Neither of the accused men has yet secured a lawyer to represent them in the case.  

Andrea Cortellazzi (a convicted fraudster) and his associates Jean Michel de Montigny (who has interesting friends of his own) , Serge Ollu (also a convicted fraudster) declared to have severed ties with Mr. Djokich (Trimax Capital Group) in a May 2007  U Mining (formerly Globex Inc.) press release, one of the numerous press releases issued by U Mining, M45 Mining and He-5 Resources later demonstrated to be false.   

Mr. Humphreys news report paints a very different portrait of Mr. Djokich’s self promoting biography which he provided to adorn the now defunct Trimax Capital Group website:   

“Nicholas Djokich, a successful businessman, has a career spanning over 30 years in commodities trading where he has developed a unique talent in the capital markets that has assisted him in achieving his goals. Mr. Djokich brings to the Trimax Capital Group extensive experience in the capital markets, valuable contacts, innovative ideas and leadership that is all instrumental to the achievement of the corporation’s vision and goals. Mr. Djokich has founded a number of trading companies that have proven to be beneficial to the agriculture industry in Alberta and Quebec. Together with a vast knowledge of the resource sector, and an extensive financial and technological background, Mr. Djokich is poised to lead Trimax Capital Group to success.”

Mr. Djokich’s alledged victim declared to Mr. Humphreys of the National Post this action was completely unexpected: ”I am floored by it. Who would want to kill me?”  

My, What Big Teeth You Have Grandma.

One these visits is a lengthly 15 hour visit by IP 65.75.66.166 which the blog recorded on 21 and 22 October 2008.

The location of IP 65.75.66.166 so happens to be located in the Bahamas.  

The blog suspects this specific visit is in relation to Mr. Nicholas Djokich who is a person of interest to this blog.

Mr. Djokich was arrested by U.S. Immigration and Customs Enforcement (ICE) on 17 October 2008 concerning a kidnapping/murder-for-hire plot:

Canadians charged in murder-for-hire scheme

October 21, 2008 07:47 PM

By John M. Guilfoil, Globe Correspondent

Two Canadian men are in custody in connection with an alleged murder-for-hire plot in which a key meeting took place in Boston.

Nicholas Djokich, 57, of Calgary, Alberta, and Eginardo Deangelis, 72, of La Salle, Quebec, were arrested by federal agents after they allegedly tried to hire an undercover agent to kidnap, extort and murder a man with whom Djokich and other investors had lost money in an investment deal gone sour.

Djokich believed he had been defrauded of his money and sought revenge, prosecutors said. The prospective victim, another Canadian national living in the Bahamas, would have been kidnapped in Florida and murdered after being forced to wire millions of dollars to Djokich.

But when the two went looking for someone to carry out their plans, they found a US Immigration and Customs Enforcement informant who introduced them to a federal agent posing as a hit man, the US Attorney’s office said in a statement.

In August, Deangelis gave the agent a $10,000 advance payment at a meeting in Vermont. Djokich and the agent met in Boston last Wednesday and agreed on a total price of $40,000 for the hit, prosecutors said.

Djokich was arrested Saturday in Los Angeles, where he was on a business trip. Deangelis was arrested Monday in Atlantic City. They were charged with conspiracy to commit kidnapping for extortion and conspiracy to commit murder. If convicted, they face life in prison and fines of up to $250,000.

Over a year ago, the blog reported Mr. Djokich’s (convicted in 2001 of tax evasion) affiliation to the Cortellazzi Consortium’s UMining Resources through a company called Trimax Capital Group which issued this glowing biography:

“Nicholas Djokich, a successful businessman, has a career spanning over 30 years in commodities trading where he has developed a unique talent in the capital markets that has assisted him in achieving his goals. Mr. Djokich brings to the Trimax Capital Group extensive experience in the capital markets, valuable contacts, innovative ideas and leadership that is all instrumental to the achievement of the corporation’s vision and goals. Mr. Djokich has founded a number of trading companies that have proven to be beneficial to the agriculture industry in Alberta and Quebec. Together with a vast knowledge of the resource sector, and an extensive financial and technological background, Mr. Djokich is poised to lead Trimax Capital Group to success.” 

Readers may find interesting Mr. Djokich’s assertion in a 2003 Quebec court case in which he gave evidence for Astral, a Bahamian company for which he was the representative :“has been a commodity trader for 30 years and is the representative of Astral, which is situated in the Bahamas.”   

Mr. Djokich further asserted :”Astral is a company which in the words of its representative, Mr. Djokich, seeks out corporations that need money and eventually bails them out. “

Since our last blog report, Mr. Djokich had been a principal with a company called Trillium Management Ltd. 

On 14 February 2008 Trillium Management Ltd. signed an interesting agreement with Brisam Energy. This agreement was filed with the SEC amongst other SEC filings for Brisam Corp (symbol: BSMP) .

Interestingly enough, a few months earlier Mr. Djokich’s co-accused, Eginardo De Angelis of La Salle, Quebec also managed to secure an agreement with Brisam Energy through the auspices of his corporation Reber America Inc.

Readers may be interested in a sampling of Mr. De Angelis’ past dealings with shareholders from this 2004 Quebec Appeal Court decision:

Maria Muoio v. Eginardo De Angelis et al.

Appellant Maria Muoio («Muoio») is plaintiff in an oppression remedy against various individuals and legal persons. She claims that the is a shareholder of Reber Inc. (“Reber”) and alleges that the other two shareholders, Eginardo De Angelis and Suzanne Dumais, acted in bad faith and abused their rights as directors and used for their own benefit or for the benefit of their companies assets and moneys belonging to Reber. Reber being bankrupt, Muoio has been granted the right to proceed against De Angelis, Dumais and their companies in lieu of the trustee.

De Angelis, Dumais and their companies filed a motion to suspend the proceedings until Muoio has supplied them with her agreement with her lawyers pertaining to legal fees. They allege that as they are creditors of Reber, they have a right to join Muoio in her proceedings. The Superior Court granted their motion.

The Court of appeal concludes that Muoio’s proceedings are hybrid. Part of it is an oppression remedy, part of it is an oblique action to reconstruct the assets of Reber and part of it is a claim directly against De Angelis and Dumais.

The Court of appeal indicates that in fact, the real opponents of Muoio are De Angelis and Dumais. Their actions, if judged abusive, shall enable a condemnation for the benefit of Muoio or Reber. In such circumstances, they are not entitled to information pertaining to the relationship between Muoio and her lawyer.

The appeal is granted.

Maria Muoio v. Eginardo De Angelis et al., Court of Appeal, 500-09-014808-042, 13 December 2004, Honourable Justices Gendreau, Brossard, Hilton.

The blog will continue to monitor and inform as events occur.

Nullum est iam dictum quod non dictum sit prius  

U Mining has issued three: 8 September 2008, 22 September 2008, 24 September 2008  

M45 Mining has issued one on 18 September 2008 and He-5 Resources issued one on 18 September 2008 suggesting they were “restructuring”. 

Interested parties may be interested in the fact that a significant number of mining claims which appear in the IZZA Minerals portolio, the “wholly owned Canadian Subsidiary” of He-5 Resources have expired or on the verge of expiring:

   No de titre      Statut             Titulaire(%)                     Inscription  Expiration  Excédent  Travaux Requis  SNRC  

  CDC 2024289  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024290  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024291  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024292  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024293  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024294  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024295  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F12  

  CDC 2024296  Expiré  Mineraux Izza Inc (81017) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  32F13  

  CDC 2049415  Actif  Mineraux Izza Inc (81017) (100%)  2007/01/18  2009/01/17  0,00 $  1 200,00 $  32F12  

  CDC 2049416  Actif  Mineraux Izza Inc (81017) (100%)  2007/01/18  2009/01/17  0,00 $  1 200,00 $  32F12  

  CDC 2049417  Actif  Mineraux Izza Inc (81017) (100%)  2007/01/18  2009/01/17  0,00 $  1 200,00 $  32F12  

  CDC 2049418  Actif  Mineraux Izza Inc (81017) (100%)  2007/01/18  2009/01/17  0,00 $  1 200,00 $  32F12  

  CDC 2049419  Actif  Mineraux Izza Inc (81017) (100%)  2007/01/18  2009/01/17  0,00 $  1 200,00 $  32F12  

  CDC 2049420  Actif  Mineraux Izza Inc (81017) (100%)  2007/01/18  2009/01/17  0,00 $  1 200,00 $  32F12  

  CDC 2061001  Actif  Mineraux Izza Inc (81017) (100%)  2007/03/01  2009/02/28  0,00 $  1 200,00 $  32F12  

  CL 5246849  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12, 32F13  

  CL 5246850  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246851  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246852  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246853  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12 

  CL 5246856  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12, 32F13  

  CL 5246857  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246858  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246859  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246860  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246861  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F13  

  CL 5246862  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F13  

  CL 5246863  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F13  

  CL 5246864  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F13  

  CL 5246865  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12, 32F13  

  CL 5246866  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12, 32F13  

  CL 5246867  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246868  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246869  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246870  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246871  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246872  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246873  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5246876  Actif  Mineraux Izza Inc (81017) (100%)  2004/11/05  2008/11/04  0,00 $  500,00 $  32F12  

  CL 5275054  Actif  Mineraux Izza Inc (81017) (100%)  2007/08/16  2009/08/15  0,00 $  500,00 $  32F12 

In a He-5 Resources press release dated 19 October 2006 proclaimed loudly that it had acquired 176 mining claims in this area.

“The mining claims are located approximately 10 km. west of Matagami in the Daniel and Cavalier Townships (NTS Map Sheet 32F12) in the area known as the Matagami Mining Camp. Shareholders may view the Map Sheet that displays the mining claims at: http://www.he-5resourcescorp.com/images/32f12.jpg. The Matagami Mining Camp is a world-class mining district, with 18 known volcanogenic massive sulphide (VMS) deposits. The area is host to historical production of 8.6 billion pounds of zinc and 853 million pounds of copper and has established infrastructure including the town of Matagami, a railway, paved road and a 2,350 t/day mill owned by Falconbridge. ” 

A shareholder was reporting recently that he was unable to contact anyone from He-5 Resources, a company which also allowed its website to EXPIRE for reasons which are becoming more obvious every day.

Revised Terms of the Proposed Acquisition of a Mining Property in Montauban (Batiscan)
Excel Gold Mining Inc EGM
7/24/2008 12:23:00 PM
QUEBEC CITY, Jul 24, 2008 (Canada NewsWire via COMTEX News Network) –

EXCEL GOLD MINING INC. (TSX Venture: EGM) Excel Gold Mining Inc. (herein referred to as “Excel” or the “Company”), announces the modification of the terms of the agreement to acquire 100% interest in the mining property in Montauban (Batiscan), Province of Quebec (the “Property”), from Mrs. Denyse Raynault, residing at 1420, Bernard Avenue West, Suite 17, Outremont, Province of Quebec, H2V 1W3, as disclosed in the Company’s June 7, 2008 press release.

Pursuant to an asset purchase agreement dated June 25, 2008, as amended July 22, 2008 (the “Agreement”), Excel has acquired all rights, title and interest in the Property in consideration for the allotment and issuance of 5,200,000 units (the “Units”), as opposed to the previously disclosed amount of 8,000,000 Units, each Unit comprising one fully-paid and non-assessable common share in the capital stock of the Company valued at $0.20 (the “Shares”) and one half (1/2) share purchase warrant, each full warrant (the “Warrants”) allowing its holder to purchase one Share at a price of $0.22 per Share for a period of twenty-four (24) months following the date of the execution of the Agreement (the foregoing being collectively referred to as the “Transaction”), the whole subject to regulatory approval.

The Shares and Warrants shall be issued in reliance of the exemption set forth in Section 2.13 (shares issued in consideration for the acquisition of a mining property) of Regulation 45-106 respecting prospectus and registration exemptions (Quebec).

Readers of this blog may find informative to know that He-5 Resources allowed their corporation status to lapse into default with the State of Nevada (seen in the graphic below).

The default occurred on 1 June 2008, several weeks before the 25 June 2008 agreement took place.

“Tracking down anyone from the company, however, can be difficult, as people found after HE-5 set up a scholarship contest through the Nevada Appeal.

It offered three $2,500 scholarships for the elementary school students who could best answer the question, “Why is mining important to Nevada?”

Winners were selected after the October deadline, but the company never paid any of the children.

Angela Frisina, whose son was selected as one of the winners, said she talked with representatives from the company a few times, but only got empty promises.

It was frustrating not being able to force the company to cooperate, she said.

“It’s not like I can go in their door, sit on their desk and say, ‘Cough it up.’”

The only purpose of the scholarship offer was to provide Serge Ollu and Andrea Cortellazzi with a means to shore up their lack of credibility with investors.

The Nevada Appeal item makes for an interesting read when correlated with He-5 Resources’s unaudited 2007 financial statements which appeared on the He-5 Resources website until recently.

This being said, regular blog readers will not be surprised to discover the He-5 Resources is once again unavailable and “under construction”.

Recently, Mr. Cortellazzi CEO of M45 Mining filed the M45 Mining annual report and three significant financial restatements with the SEC.

The restatements are for the June 30, 2007 quarterly report, September 30, 2007 quarterly report and December 31, 2007 quarterly report.

In the December 31, 2007 quarterly report, Mr. Marcel Roy’s Exploration Miniere Grenville is mentioned as having sold claims to M-45 Mining:

Hopefully, shareholders of Excel Gold Mining Inc. will take note of the well researched Nevada Appeal article in light of the recent transaction concerning the sale of 117 claims by Serge Ollu’s wife:

Acquisition of a mining property in Montauban (Batiscan)

Excel Gold Mining Inc EGM
7/8/2008 11:21:29 AM
QUEBEC CITY, Jul 7, 2008 (Canada NewsWire via COMTEX News Network)

EXCEL GOLD MINING INC. (TSX Venture: EGM) Excel Gold Mining Inc. (herein referred to as “Excel” or the “Company”), announces that it has reached an agreement to acquire 100% interest in a mining property in Montauban (Batiscan), Province of Quebec (the “Property”), from Mrs. Denyse Raynault, residing at 1420, Bernard Avenue West, Suite 17, Outremont, Province of Quebec, H2V 1W3, a party dealing at arm’s length with the Company, further to a letter of intent disclosed in the Company’s June 4, 2008 press release.

Pursuant to an asset purchase agreement dated June 25, 2008 (the “Agreement”), Excel has acquired all rights, title and interest in the Property in consideration for the allotment and issuance of 8,000,000 units (the “Units”), each Unit comprising one fully-paid and non-assessable common share in the capital stock of the Company valued at $0.20 (the “Shares”) and one half (1/2) share purchase warrant, each full warrant (the “Warrants”) allowing its holder to purchase one Share at a price of $0.22 per Share for a period of twenty-four (24) months following the date of the execution of the Agreement (the foregoing being collectively referred to as the “Transaction”).

The Shares and Warrants shall be issued in reliance of the exemption set forth in Section 2.13 (shares issued in consideration for the acquisition of a mining property) of Regulation 45-106 respecting prospectus and registration exemptions (Quebec).

The Property

The Property claims consist in the mining rights relating to a property called “Montauban” which is composed of 117 mining titles covering 4,603.78 hectares (the “Mining Titles”). The Property is located in the Montauban and Chavigny region together with the west section of La Seigneurie de Grondines, Comté de Portneuf, Province of Quebec, at 120 km west of the City of Quebec and 50 km north east of the City of Trois-Rivieres, Province of Quebec.

A formal technical report was prepared pursuant to Regulation 43-101.respecting standards of disclosure for mineral projects with respect to the Mining Titles, identifying gold, silver, copper, zinc and lead as the minerals present therein.

Excel Gold Mining and He-5 shareholders may find interesting that Ms. Raynault stated 6 months ago in a 27 February 2008 press release that she was stepping down from the He-5 CEO position:

HE-5 also announced that Chief Executive Officer Denyse Raynault has expressed an intention to resign from her position. Ms. Raynault stated that she intends to step down from the CEO position so that someone with greater expertise in the international mining industry assumes the leadership role of the Company. She believes that a new more experienced CEO who has a wider network of contacts in the worldwide mining community would significantly benefit HE-5 and facilitate its mission to become an important player in the global mining industry.

The blog concurs with Dave Frank of the Nevada Appeal as he quotes Mark Twain:

“A mine is a hole in the ground owned by a liar,”

One observant Stockhouse member commented on how interesting that a former Excel Gold Mining (a TSX: V, formerly Tom Exploration, the name change occured officially in April 2008 ) officer, Claude Boulanger also appears on Izza’s list of corporate officers.

Some Stockhouse members appear to be suggesting the properties which appear in a recent Excel Gold Mining press release and the He-5Resources /IZZA properties which were the subject of a press release on 7 June 2007 are not the same.

The Excel Gold Mining press release identifies the property as comprised of 117 claims covering and area of 4,603 hectares :

Furthermore, Excel Gold Mining Inc of Quebec City, Quebec is continuing its active involvement in the acquisition and development of mineral properties in North and South America. As such, the Company acknowledges Montauban as being a privately owned property renowned for its high-grade potential of large hydrocarbon deposits. Lastly, the Montauban region is comprised of 117 claims covering an area of 4,603 hectares with an excellent discovery potential.

The He-5 Resources website was amended earlier this year (an event previously reported by the blog), it no longer mentions the “Montauban” properties and the geologist NI 43-101 report no longer appears on the He-5 website. However, in order to assist interested parties, the blog retained a copy of the 31 July 2007 report in Adobe PDF format, those who wish to consult the report (5,650 KB) may download a copy here: izza_montauban-01.

Readers of the He-5 Resources /IZZA 31 July 2007 NI 43-101 report summary will notice the IZZA Montauban property is also comprised of 117 claims covering an area of 4,603 Hectares:

“Le Projet Montauban est une très grande propriété minière offerte à Izza Mineraux Inc. par Exploration
Minière Grenville Inc. de Québec, pour une acquisition à 100% et autres considérations. Le Projet
est localisé dans les cantons de Montauban et Chavigny ainsi que la Seigneurie de Grondines-Ouest,
Comté de Portneuf, Province de Québec, Canada. Le projet comprend 117 claims couvrant une superficie
d’environ 4 603.78 hectares. ”

The 117 claims mentionned in the He-5 Resources/IZZA NI 43-101 report are located in NTS 31I16 and these claims registrations flow effortlesly amongst Cortellazzi associates and corporations.

The 117 claims mentionned in the July 2007 NI 43-101 report are currently registered to Exploration Miniere Grenville (the complete list appears at the end of this entry)  which is a company registered by Marcel Roy (pictured below) a Cortellazzi associate previously profiled by the blog.

The earliest observation of these claims appeared on March 19, 2007 on a UMining message board, 78 claims in area 31I16 were observed as being registered by another Cortellazzi associate, Jean-Claude Dentinger on 5 July 2006 (profiled with Mr. Roy on the blog last October).

The 31 July 2007, He-5 Resources/IZZA report states the 117 claims are owned by Marcel Roy (39 claims) and Jean-Claude Dentinger (78 claims).

Soon after the IZZA NI 43-101 was made public the claims were registered in the name of their current registrant, Exploration Miniere Grenville which is registered to Mr. Marcel Roy.

Interested parties may be interested to know that all 117 claims registrations are due to expire within the next 4 months, 44 of the registrations as soon as 4 July 2008.

Of the remaining 73 registrations, 5 are due to expire on 10 July 2008, 5 more are due to expire on 20 August 2008, 37 are set to expire in September 2008 and 26 are due to expire in October 2008.

Another matter of interest for existing and potential Excel Gold Mining stockholders concerns Mr. Jacques Vallee, the newly appointed director to the board of directors.

Mr. Jacques Vallee, Mr. Andrea Cortellazzi and Mr. Serge Ollu’s paths have crossed on more than one occasion in the last 4 years.

On 17 June 2004, a press release for HQ Sustainable Maritime Industries Inc. announced:

HQ Sustainable Maritime Industries Inc. (OTC Bulletin Board: HQSM, “HQ” or the “Company”), announced today the appointment of Mr. Jacques Vallee and Mr. Fred Bild as independent directors to its Board. Mr. Vallee will also head up the Board’s audit committee.

Jacques Vallee, aged 52, is an Independent Director. He is currently a risk capital and strategic planning consultant with over 30 years of banking and fund management experience. He has also taught statistics and marketing for many years. He has an MBA from the University of Sherbrooke in Canada. He was previously First Vice-President Strategic Investments and Development Planning for the Quebec Workers’ Fund, a Canadian risk capital fund managing in excess of USD 4 billion.

In September 2005, Mr. Serge Ollu issued the unaudited financials for Mr. Cortellazzi’s Coastal Holdings.

A November 2005 SEC filing by HQ Sustainable Maritime Industries Inc. states:

In July 2005, we issued  1,000,000  Class A shares of our common stock to Andrea Cortellazi and Proactive  Computer  Services Inc as  consideration  of services related to obtaining the financial guarantees recently provided to us.

In March 2006, Mr. Cortellazzi’s Coastal Holdings, then trading under the symbol CSJJ announced that it had hired Mr. Jacques Vallee:

Coastal Holdings, Inc. Hires SEC Finance Expert to Expedite Its Attainment of OTC Bulletin Board Status

HOUSTON, TX, Mar 08, 2006 (MARKET WIRE via COMTEX) — Coastal Holdings, Inc. (OTC: CSJJ) is pleased to announce that it has hired Mr. Jacques Vallee, a SEC Finance Expert, as a non-executive director and President of the Company’s future Audit Committee. Mr. Vallee’s extensive experience and background with respect to SEC law is a valuable asset to Coastal Holdings and ensures a successful and rapid attainment of OTC Bulletin Board status.

Mr. Vallee appeared in two later Coastal Holdings press releases, one on 14 March 2006, the other on 23 March 2006 in which Mr. Vallee is quoted as saying:

“I am pleased to announce that we have already identified a few OTC BB shells that are strong candidates for a reverse takeover. Of course before we invest in an OTC BB shell, we have to conduct due diligence on it. We must purchase the one that is not only in good financial and legal standing but is also the best fit for our organization.

“I want to reiterate that my primary role in this corporation is to expedite its attainment of OTC Bulletin Board Status. We will achieve this goal soon. The Company’s accounting and legal departments are working hard on the first acquisition of an OTC-BB listed company. We expect to close this acquisition on April 15, 2006.”

Coastal Holdings never attained the status it said it was seeking and Mr. Vallee did not appear in any Coastal Holdings press release after 23 March 2006.

However, Mr. Vallee does appear in a more recent Cortellazzi associated venture.

Mr. Vallee appears in the 13 June 2007 registration of Izza Minerals Inc. (Izza is wholly owned by He- 5 Resources) with Denyse Raynault ( Serge Ollu’s wife), Claude Boulanger (a former Tom Exploration officer) and Yves Renaud (another Coastal Holdings alumni).

He-5 Resources made the announcement of its ownership of IZZA in a press release on 26 June 2007:

NEW YORK, NY–(Marketwire – June 26, 2007) – HE-5 Resources, Corp. (PINKSHEETS: HRRN) is pleased to announce the formation of IZZA Minerals Inc., a wholly owned Canadian Subsidiary to explore the Company’s Canadian Mining Territories.

IZZA Minerals will function as the exploration arm of HE-5 with a mandate to explore its mining territories in Canada. The status of IZZA Minerals Inc., as a Canadian Mining Corporation, will benefit from all the major tax incentives (Flow – Through Shares).

Mr. Vallee did remain on the HQ Sustainable Maritime Industries Inc board of directors until his resignation in November 2007:

Members of special or standing committees may be allowed, like, for example, compensation for attending committee meetings. The annual salaries of our independent non-executive directors Fred Bild, Daniel Too and Jacques Vallee (who resigned in November 2007) was $15,000 plus an annual bonus to them of not less than $15,000 payable in shares of our common stock.

Readers should also take note of UMining and He-5 Resources/IZZA 2007 press releases in which both state a commercial relationship with an undentified TSX venture exists between them :

Jul 12, 2007 10:11 ET
U Mining Resources Inc. Announces Closing of TSX Venture Corporation Acquisition
Management Provides Update on Corporate Development and Operational Plan
U Mining Resources Inc.

NEW YORK, NY–(Marketwire – July 12, 2007) – U Mining Resources Inc. (PINKSHEETS: UMNG) today announced that it has completed the acquisition of the TSX Venture Corporation.

After completing the due diligence analysis of the TSX Venture Corporation, management has deemed that it is in the best interests of U Mining to consummate the transaction as follows. The total consideration of the transaction represents an aggregate amount of $ 350,000 payable via the issuance of 25 million restricted shares of U Mining at a market value of $ 0.07. The shares are currently held in escrow until the transaction is officially approved by the TSX shareholders and regulating authorities, and are issued to the benefit of U Mining’s control position; thereby consolidating the strength of the Company.

Secondly, the agreement stipulates that following the approval of the transaction U Mining will roll in one of its properties in return for additional shares, which would increase U Mining’s control position. This allows U Mining’s subsidiary to complete a first round of financing through a private placement of $ 1.5 million.

Management will prepare all the documentation and filings for a flow-through share prospectus for a second round of financing for a total of $ 2.5 million, and fulfill all the reporting requirements of the TSX Venture Exchange. Canadian investors will be able to purchase U Mining’s subsidiary stock and claim a major tax deduction on their investment (see links below for further information). U Mining will also be able to consolidate the TSX Venture Corporation’s financial statements with its own statements. This transaction will bring the total issued and outstanding shares of U Mining to 75 million.

Jun 26, 2007 08:30 ET
HE-5 Resources, Corp. Announces Formation of IZZA Minerals Inc. Subsidiary to Explore Canadian Mining Territories
HE-5 Forecasts Finalizing Merger Agreement With TSX Venture Exchange Listed Corporation in the Near Future

NEW YORK, NY–(Marketwire – June 26, 2007) – HE-5 Resources, Corp. (PINKSHEETS: HRRN) is pleased to announce the formation of IZZA Minerals Inc., a wholly owned Canadian Subsidiary to explore the Company’s Canadian Mining Territories.

IZZA Minerals will function as the exploration arm of HE-5 with a mandate to explore its mining territories in Canada. The status of IZZA Minerals Inc., as a Canadian Mining Corporation, will benefit from all the major tax incentives (Flow – Through Shares).

Shareholders may visit IZZA Minerals Corporate Website at: www.izza-minerals.com

Moreover, HE-5 Management, for the last three months, has been negotiating a Business Combination (Reverse Take Over) of IZZA Minerals Inc. and a TSX Venture Corporation. Only a few criteria remain for the completion of this merger; final closing via our attorneys is scheduled shortly.

On 28 September 2007, Mr. Ollu gave an interview (the interview appears in the graphic below, click to enlarge) to the Nevada Appeal in regards to a scholarship program sponsored by He-5 Resources. During this interview, Mr. Ollu mentionned that HE-5 Resources owned the “Montauban Gold Mine in Batiscan City” .

Recently, a reporter from the Nevada Appeal expressed interest in He-5 Resources, should anyone be interested in expressing their experience with He-5 Resources the reporter has made his coordinates available here.

This said, the blog recommends to all investors and interested parties to just… follow the money

————-

Current list of 117 Exploration Miniere Grenville claims for area 31I16 which have also appeared in IZZA Minerals NI-43-101 of 31 July 2007:

CDC 2019789  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 800,00 $  31I16
CDC 2019790  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019791  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019792  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019793  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019794  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019795  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019796  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019797  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019798  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019799  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019800  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019801  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019802  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019803  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019804  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019805  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019806  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019807  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  500,00 $  31I16
CDC 2019808  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  500,00 $  31I16
CDC 2019809  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  500,00 $  31I16
CDC 2019810  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  500,00 $  31I16
CDC 2019811  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  500,00 $  31I16
CDC 2019813  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019814  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019815  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019816  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019817  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019818  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019819  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019820  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019821  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019822  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019823  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019824  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019825  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019826  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019827  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019828  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019829  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019830  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019831  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019832  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2019833  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/05  2008/07/04  0,00 $  1 200,00 $  31I16
CDC 2020464  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/11  2008/07/10  0,00 $  1 200,00 $  31I16
CDC 2020465  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/11  2008/07/10  0,00 $  1 200,00 $  31I16
CDC 2020466  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/11  2008/07/10  0,00 $  1 200,00 $  31I16
CDC 2020467  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/11  2008/07/10  0,00 $  1 200,00 $  31I16
CDC 2020468  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/07/11  2008/07/10  0,00 $  1 200,00 $  31I16
CDC 2023926  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/08/21  2008/08/20  0,00 $  1 200,00 $  31I16
CDC 2023927  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/08/21  2008/08/20  0,00 $  1 200,00 $  31I16
CDC 2023928  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/08/21  2008/08/20  0,00 $  500,00 $  31I16
CDC 2023929  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/08/21  2008/08/20  0,00 $  500,00 $  31I16
CDC 2023930  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/08/21  2008/08/20  0,00 $  500,00 $  31I16
CDC 2024297  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  31I16
CDC 2024298  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  31I16
CDC 2024299  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  31I16
CDC 2024300  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  31I16
CDC 2024301  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  31I16
CDC 2024302  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/08  2008/09/07  0,00 $  1 200,00 $  31I16
CDC 2024611  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  1 200,00 $  31I16
CDC 2024612  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  1 200,00 $  31I16
CDC 2024613  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  1 200,00 $  31I16
CDC 2024614  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  500,00 $  31I16
CDC 2024615  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  500,00 $  31I16
CDC 2024616  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  500,00 $  31I16
CDC 2024617  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  500,00 $  31I16
CDC 2024618  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/13  2008/09/12  0,00 $  500,00 $  31I16
CDC 2024952  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024953  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024954  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024955  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024956  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024957  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024958  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2024959  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/18  2008/09/17  0,00 $  1 200,00 $  31I16
CDC 2025782  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025783  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025784  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025785  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025786  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025787  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025788  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025789  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025790  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025791  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025792  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025793  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025794  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025795  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2025796  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/09/22  2008/09/21  0,00 $  1 200,00 $  31I16
CDC 2029745  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029746  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029747  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029748  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029749  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029750  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029751  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029752  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029753  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029754  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029755  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029756  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029757  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029758  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029759  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029760  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029761  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029762  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029763  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029764  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16
CDC 2029765  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  500,00 $  31I16
CDC 2029766  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  500,00 $  31I16
CDC 2029767  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  500,00 $  31I16
CDC 2029768  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  500,00 $  31I16
CDC 2029769  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  500,00 $  31I16
CDC 2029774  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2006/10/18  2008/10/17  0,00 $  1 200,00 $  31I16

CDC 2051757  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051758  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051759  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051760  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051761  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051762  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051763  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051764  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051765  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051766  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051767  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051768  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051769  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051770  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051771  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051772  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051773  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051774  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051775  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051776  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051777  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051778  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051779  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051780  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051781  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 800,00 $  31I16
CDC 2051782  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051783  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051784  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051785  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051786  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051787  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  1 200,00 $  31I16
CDC 2051788  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051789  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051790  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051791  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051792  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051793  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051794  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051795  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16
CDC 2051796  Active  EXPLORATION MINIÈRE GRENVILLE INC (93860) (100%)  2007/02/01  2009/01/31  0,00 $  500,00 $  31I16

On 7 May 2008, Jean Michel De Montigny resigned as CEO of UMining, however no mention has ever been made in regards to his position as Chief Financial Officer of Comitrag.

The same press release indicated the Chairman of the Board, Col. James Krilich (ret) had taken the reigns as CEO of UMining.

The investors relations staff in this same press release identified itself only by a phone number: (516) 762-0154

On 8 May 2008, Comitrag S.A., announced that it had “presented the BOOT (Build-Own-Operate-Transfer) Agreement to the Republic of Guinea authorities for governmental review. The Agreement will then be voted on by the Guinean Cabinet (Le Conseil des Ministres) and implemented as soon as a decision is reached.”

A few days later on 10 May 2008, someone using the alias “jim16640″ on an investment message board and identifying himself as Col. Krilich presented his resignation as UMNG CEO leaving investors with few visible corporate officers which may be contacted.

Then on 15 May 2008, UMining issued a press release announcing in an unsigned press release: “All our shareholders must note that the President of Comitrag S.A. will be staying at the Novotel Hotel in Conakry, Guinea from May 31, 2008 to June 13, 2008. During this period, the President will be in constant contact and will report back to the Company headquarters daily. “

On 21 May 2008, Guinea’s Prime Minister Lansana Kouyate (seen in the picture below with Comitrag President Balla Keita and Chief Financial Officer Jean Michel de Montigny) was fired by President Conte.

Soon thereafter, Guinea became a volatile country with riots and a military mutiny on it’s hands.

Unsurprisingly, the British Foreign Office issued a travel advisory soon after an Air France flight was forced to divert to Dakar.

Since our last entry, the blog has unearthed more interesting information concerning Mr. Balla Keita, seen on the right in the picture above.

Readers may wish to know about a previous event in 2005 in which Mr. Keita had unsuccessfully approached the Guinean government of the day concerning the Simandou mountain area and the Transguinean railway project (news item below in picture format, click to enlarge).

According to this news item, Mr. Keita was the business development director of Rail Iron Ore Guinea (RIOG) and this company was invited to take part in a meeting on 30 May 2005 concerning the Simandou iron ore concession, however it never showed up and was eliminated from further participation.

Mr. Keita during the 2005 interview suggested that he was a classmate of Guinean President Lansana Conte at Bingerville Military Academy (Ecole Militaire Préparatoire Technique de Bingerville).

This would be very difficult to believe since President Conte is over 73 years old.

President Conte was 20 years old when he graduated as a Cadet from Bingerville in 1954.

The above photograph of Mr. Keita strongly suggests that he is well below 73 years old.

Mr. Keita has no influence with the Guinean govermnent as he would like to suggest and would like everyone to believe, in fact the recently named Prime Minister would remember Mr. Keita’s 2005 adventure, since the Prime Minister was Minister of Mines at the time.

In short, Mr. Keita is promoting an old plan which never inspired anyone moderately knowledgeable about commercial magnitude of a project on the scale of the Simandou iron ore concession and the supporting Transguinean railway.

“CEO of U Mining, Jean Michel de Montigny, stated the following: “We have put forth immense effort and have spent considerable time and allocated certain funds to this project thus far, and the feedback I am getting from shareholders and our investor relations representatives is that it is still difficult to envision the value of this agreement and how it will affect the Company’s revenues and earnings over time. The best way I can only begin to explain this is to describe the unique relationship Mr. Bella Keita has established with certain officials in Guinea, as well as his understanding of the historical background and needs of this emerging nation. Mr. Keita has built an impressive career to date, having served as engineer and project manager for numerous, similar world-class projects, along with other achievements many would consider impressive for this Guinean immigrant. His people, the Guinean representatives to this agreement, respect him for many reasons including the fact that he has always stayed involved in Guinea’s drive to improve its infrastructure and emerge as one of that continent’s most self-sufficient and prosperous nations.”

On message boards, speculation has been swirling around Mr Keita. One suggested the “Keita clan are historical princes.” another said “Balla Keita apparently has a link to the President’s 4th wife, which gets him meetings and photo opportunities with important people, but not any credibility.”

Mr. Keita is indeed a civil engineer, however the facts are far less exotic than some may suggest.

The simple fact is that Mr. Keita is an employee for the Government of Quebec within the Ministry of Transport (MTQ).

Mr. Keita is a member of the APIGQ (l’Association professionnelle des ingénieurs du gouvernement du Québec) which is a professional union (engineers). Only engineers who are employees of the Government of Quebec are allowed to join this union.

Mr. Keita’s union membership entry with workplace information and the Ministry department (FCARR – a department which manages roadway surfacing and maintenance in Quebec) appears in this graphic (below):

Mr. Keita is a member of an oversight committee with the APIGQ (see graphic below):

Mr. Keita’s workplace is located near his Longueuil home (previously reported on the blog) in a building (picture below) near the Longueuil subway station which connects to the Montreal subway system.

At a recent Commission of Inquiry, the APIGQ took the opportunity to mention that compensation for Government of Quebec engineers was well below their counterparts at Hydro-Quebec. The APIGQ stated that senior engineers employed within the Government of Quebec were earning $80,000.00 at the highest pay scale, much less than engineers at Hydro-Quebec (graphic below).

This said, it is interesting the blog recorded a 3 hour and 21 min. visit from a computer belonging to Ministry of Transport (132.221.52.36) on 17 April 2008, this extensive visit occurred less than an hour after UMining issued their press release.

“The mining concession consists of a territory covering a distance of 55 kilometres. “

In February 2008, the location of the iron ore concession was identified:

“The Mining Concession consists of an iron ore property situated in the Mount Simandou region of southeastern Guinea. The property covers a 55-km-long zone in the Simandou Mountain Range. ”

In their latest press release, UMining indicated “maps and other similar mining and resource-oriented data” would be available on their website (the Comitrag Guinea Project on the UMining website links to the Comitrag website).

Comitrag has made available a map in pdf format on their website which it identifies as the mining concession which is described as “a 55-km-long zone in the Simandou Mountain Range“

The map which appears on the Comitrag site is an old French geographic survey on which the purported mining concession appears identified solely as “Simandou Mining Concession Map” (click to view larger size ):

The scale appears at the bottom of the map and with this scale, the blog has determined the grid squares of the map provided by Comitrag are approx 16 KM long and wide. Grid squares (click on map below to view) were placed next to the length of the mining concession in order to determine the length of the “Comitrag” concession as appears on the map and the result is well over 55 KM, it is approximately 110 KM in length.

The 110 KM long mining concession which appears on the Comitrag map does exist, however it was awarded to Rio Tinto in 2006, not Comitrag.

“Rio Tinto’s first introduction to the project was in 1996, when they were invited to inspect the area by the Guinean Government. After successful reconnaissance visits in 1996, four Exploration Licences were applied for and granted in February 1997. Exploration and evaluation programmes have been actively carried out on the licences from 1997 and are continuing with expenditure to date being ~US $50M with a further US$145M committed to year-end 2008. This funding is to complete the ‘Pre-feasibility Study at Pic de Fon and Oueleba’ and assess the potential of other target occurrences in the northern portion of the Mining Concession (Northern Targets).

The Simandou Mining Convention covering the legal and fiscal terms and conditions for mining within the Simandou Mining Concession was signed into Law in February 2003 and the related Mining Concession granted in March 2006. The 740km2 Mining Concession (MC) covers a 110km long portion of the north–south trending Simandou range. “

At page 11 of a July 2007 report, Rio Tinto provides a map to their 110 KM concession (graphic below):

Another map of the area without the Rio Tinto mining concession is provided for readers so they may compare the areas on this map with the others to locate nearby towns, villages and other reference points.

In short, UMining press releases have consistently contained misleading information about the Comitrag “mining concession” since January 2008.

This is a rather bold statement since not a single word concerning this mission appeared in the local print media about this transaction.

Radio Television Guineenne (RTG) the state run television network did not report or mention the mission, nor did it report on U Mining, Comitrag, Jean Michel de Montigny and Balla Keita.

RTG news is archived on many websites: AfricaTV, Telediaspora and Le Diplomate

The complete absence of all Guinean media coverage concerning the event alluded to in the recent press release is all the more intriguing, since such news draws considerable attention in Guinea as did this November 2006 news report concerning a Guinean business forum held in Frankfurt, Germany.

Guinea is a small poverty stricken country and economic news which can lead to job creation is sought after by the local news media such as this news report on the public tender for the container port in Conakry (see graphics below) which appeared on 29 March 2008 on Guinee24.com:

UMining’s most recent press release makes no mention of the railway project which appeared the a 16 January 2008 press release:

“The above-mentioned multi-level contract also includes the assignment to U Mining of a management contract for the building of several large-scale infrastructures. The revenues generated from the exploitation of the mining concession will provide the Government with sufficient working capital to cover the cost of the infrastructure projects. The projects include the construction of a new railroad that will service the iron ore mine; following a route through the centre of the nation. U Mining and Comitrag are fully committed to the mining and infrastructure projects for the future development of the West African nation.

Further details on the mining and infrastructure projects will be disclosed to shareholders upon the signing of a definitive agreement with the West African nation.”

However, L’Aurore, a Guinean media outlet which specializes in mining news is reporting the firm chosen for the much needed railway infrastructure will the French group of Cofinter, Egisbceom, De Broca Paridiue Maffei and Coyne & Bellier (Google translation):

Railway Conakry-Kankan, rehabilitation indeed!
27-03-08 09:19 27-03-08 09:19

AUTHOR: THIANKOYE SYLLA

The experts of the tripartite committee of transport (Government of Guinea, Rio Tinto, BHPbilliton) chose the firm to conduct studies for the rehabilitation of the railway Niger (Conakry-Kankan) along 1000 km.

That grouping, Cofinter, Egisbceom, De Broca Paridiue Maffei and Coyne & Bellier who execute. It is an eight-month contract against payment of a million dollars.

This railway will allow the Niger Transguinéen indispensable for the development of iron ore in Nimba Mountains (BHPbilliton) and Simandou (Rio Tinto and BSG-Resources) for failing to provide public transit.

Indeed, the Minister of Mines and Geology of Guinea, Ahmed Kanté and Namory Condé BHPbillliton Regional Director, recently visited Australia. The agenda aims knowledge of the technology BHPBilliton through a tour of facilities of the firm.

Of course, there was no mention of this news in the recent UMining press release.

A photograph (below) did accompany the press release to suggest that it was taken recently in the Republic of Guinee.

Objects may be closer than they appear

Comitrag registered a domain name in Canada on 11 March 2008 , the registrant indicates the location is 1453, Terrasse Desormeaux, Longueuil, QC, J4M2B4, the registration appears in the graphic below.

1453, Terrasse Desormeaux is located in a modest residential area of Longueuil, near the St-Hubert Airport. The picture (below) is of number 1495, it was recently sold will give the reader a better perspective of the neighborhood in which Comitrag lists as it’s corporate address on it’s recent domain registration.

A public day care facility (location seen in the Google Earth screen capture below) is located nearby.

The local phone book has a public listing for 1453, Terrasse Desormeaux, Longueuil, QC, J4M2B4.

The name which appears on the phone listing for 1453, Terrasse Desormeaux is a “Balla Keita” the phone listing appears in the graphic below.

Two days later on 13 March 2008, U Mining issued a press release identifying a “Mr. Bella Keita” as the President of Comitrag.

“NEW YORK, NY–Marketwire – March 13, 2008  – U Mining Resources Inc. (PINKSHEETS: UMNG) today announced that CEO Michel de Montigny is set for his three-day trip to Conakry West Africa to finalize the Agreement between U Mining’s majority-owned subsidiary Comitrag S.A. and the Republic of Guinea. CEO de Montigny will be accompanied by Mr. Bella Keita, president of Comitrag S.A., at the official agreement ratification ceremony scheduled for next Tuesday, March 18.”

The Blog considers worth mentioning that an Ivorian politician, “Dr. Balla Keita”, was murdered in 2001 and his name has been used in many email scams.

While this information is indeed interesting, the blog considers visits by Mr. Des Rosiers of Longueuil to this Blog far more interesting.

Also of interest are Blog visitors originating from the Longueuil building which appears in the picture below:

Yes, Virginia, there’s much more to this story than meets the eye and the Blog has been following this since November 2007.

It’s been on our radar for some time…

According to the same press release:

“The three sources of potential revenue from the BOOT Agreement are:(1) Mining Concession; (2) Railway concession; and (3) Port infrastructure and management concession.Based on the terms of the Agreement with the Republic of Guinea, U Mining will earn a portion of the potential revenue in exchange for its expertise and assistance in securing international funding for the Project.”

However, the day before on 27 February 2008, Rio Tinto delivered a presentation to the World Bank detailing a port, railway, road,landing strip and fiber optic cable infrastructure project in the Republic of Guinea.

The Rio Tinto presentation can be viewed here (french only, pdf format).

A mineral port is identified at pages 5, 6, 7 & 8 of the presentation as Port Yeliotono. Another component of the project is a landing strip at Beyla which is identified at page 6 of the presentation.

The presentation identifies 3 railway projects, Conakry – Kankan (north – 670 KM), Pic de Fon – Port Yeliotono (south – 710 KM) and a 350 KM extension of the northern line to Bamako.

Recent pictures of existing railways in Guinea

At page 5, road work (430 KM) along the proposed southern railway line is identified and scheduled for the period of Feb 2008 to June 2008 at a cost of 2.5 million dollars which is to be financially supported by Rio Tinto and Simfer S.A.

At page 6 of the presentation, proposed improvements (estimated at 2 million dollars and fully supported by Rio Tinto) to an existing landing strip at Beyla are identified owing to the remoteness of the Simandou mining concession.

A proposed study for 710 KM fiber optic cable which would run along the southern railroad is identified at page 8 of the presentation.

Few should be surprised the presentation does not mention or refer to UMining at any time.

Thai IP’s 58.8.70.204 , 58.8.80.198, 58.8.74.248 have been riveted to the Blog content for well over 20 hours.

The Blog can reveal the interest of the Thai visitors focused amongst other things on Serge Ollu and George Abisaleh .

The Blog concurs their interest is well placed .

To our recent visitors, thanks for visiting and making us aware of the latest ventures by Mr. Serge Ollu and Mr. Jean Michel De Montigny.

The Blog can share some of it’s research concerning one of the latest ventures, in fact much of the information is currently available on the blog as many have noted.

However, for some reason this information appears to have been overlooked by visitors :

1. Look into the past of Sand Oil Inc. and Tubac Holdings, Inc.
2. Look into the He-5 Resources joint venture with Sand Oil.
3. Look into the 17 September 2007 Nevada Appeal interview of He-5 Resources officers.

We hope this is of some assistance to shareholders in assessing their portfolio.

This is a work in progress.

Also of note, the He-5 Resources website recently received a “face lift” and some material no longer appears.

The recent website states the focus of the company is on 2 projects which are Overman and Côte d’Ivoire.

The Quebec properties which were the subject of several press releases (18 October 2006, 19 October 2006, 22 August 2007, 5 September 2007) are no longer mentioned.

Absent from the latest website (the third since 2006, the first may be viewed here) is any reference of last summer’s IZZA Minerals Inc, (He-5 resources wholly owned Canadian subsidiary in which Miss/Ms Raynault is a major shareholder), a scholarship contest which they sponsored in conjunction with the Nevada Appeal newspaper, the 27 March 2006 and 26 May 2006 references to their acquisition of Ruby #1 and #2 Mines and the 3 May 2006 joint venture with Sand Oil Inc concerning Ruby #1 and #2 Mines.

Also interesting is the fact that Raynault Consulting (the corporation which served to acquire He-5 Resources on 16 March 2006 from then Botaniex, Inc & Andrea Cortellazzi) is in default since 25 February 2008.

“Best way to avoid punch, no be there.”

So how reliable are “government” documents from this country ?

According to the Canadian Government fake documents are easy to come by:

TIPS FOR BUSINESS TRAVELLERS TO CÔTE D’IVOIRE

Recognizing a Business Scam

The Canadian Embassy (located at Immeuble Trade Centre, 23 avenue Nogues, Le Plateau, Abidjan, Côte d’Ivoire), along with many other embassies, frequently handles “scam” cases. Business people, many of them experienced in overseas transactions, have lost thousands of dollars to these scams. Occasionally, persons who have gone to Côte d’Ivoire to “finalize” such deals have been threatened or assaulted. Local police and other officials have not provided assistance to those caught up in scams.

Caution should be exercised when contemplating any business transaction involving Côte d’Ivoire. The scams range from attempts to engage business people in fictitious money-transfer schemes to fraudulent solicitations to supply goods in fulfilment of non-existent Côte d’Ivoire government contracts. The scams are very sophisticated and may take victims to staged meetings, often held in borrowed offices at Côte d’Ivoire government ministries or at overseas locations. The persons involved do their research and can often provide plausible, but non-existent, orders written on seemingly genuine government stationery, complete with official stamps and seals.

That ends today’s Tips For Business Travellers To Côte d’Ivoire.

“NEW YORK, NY–(Marketwire – January 28, 2008) – U Mining Resources Inc. (PINKSHEETS: UMNG) today announced further details and updated information on the signing of the BOOT (Build-Own-Operate-Transfer) Agreement with Comitrag. Comitrag S.A. is the regional contractor selected by U Mining to head up and oversee development operations in West Africa. “

The Government of Guinea does not use the term B.O.O.T to describe this type of agreement, it uses the more universally known term B.O.T.

B.O.T agreements with private enterprise are not a mysterious unknown to the Government of Guinea, because legislation concerning such agreements has been in existence for the last 10 years (1 June 1998) and it is available for public consultation.

The reader should take note of the complete absence of U Mining and Comitrag S.A. on the Government of Guinea’s website which lists all the compagnies which have current mining operations in their country.

The Government list provided for the reader in the graphic below.

The Government of Guinea has also posted information concerning the Simandou area and the Trans Guinean railway project (French only), neither web page makes any mention of this significant project which UMining identifies in their recent press releases.

They say B.O.O.T., we say B.O.T.

According to the He-5 press releases, the “multi-billion dollar iron ore mining” project is located in the Mount Klahoyo area . On 31 Jan 2008, He-5 Resources claimed ” The final documentation for the iron ore concession called a binding Agreement is currently being negotiated.” and We have set a goal to accomplish complete international legalization of the concession Agreement by April 15, at which time the final signed documents will be posted on the corporate website.”

However on 6 Feb 2008, the closing date had moved up and He-5 claimed “the binding Agreement, which would legally award the iron ore concession to HE-5, will be signed any day now. ”

The project is described in the 31 Jan 2008 press release as follows:

“As per the Preliminary Agreement, HE-5 will generate substantial revenues from the export of iron ore extracted from the Properties for a period of at least 15 years. HE-5 will be authorized by the Government to exclusively perform the following tasks: mine exploration, development and production; in-country infrastructure; international financing; and iron ore sales to international steelmakers (hereinafter referred to as the “Project”).”

Interestingly, this won’t be the first time which this particular “in-country infrastructure” has been proposed.

In fact, a previous railway project linked to Mount Klahoyo’s Iron Ore is a oft recycled project in Côte d’Ivoire.

The Railroad Association of South Africa reports it was proposed in 1976, scheduled for completion in 1980 and was never completed :

“After the recent discovery of huge iron-ore deposits estimated at one thousand million tons in the Man region, in the Western part of the Ivory Coast, a choice had to be made between building a pipeline or a railway to work the mines. It was finally decided to adopt the second alternative, since it also could be used for carrying other products besides iron-ore, of which twelve million tons will be moved to the port of San Pedro annually.

The new line, some 365-km in length will start from Mount Klahoyo, 25-km to the east of Man, pass through Duékoué, Guessabo, Yabayo and Soubré, and terminated at San Pedro. There will be branch feeder lines towards Daloa via Issia and Man. Long welded rails will be used for the main line.

The lines is due to open in 1980 and it is expected that, in addition to the twelve million tons of ore, 1.2-million tons of products intended for working the mine, and 857 000 tons of rough and treated timber, coffee, cocoa, sugar, hydrocarbons, etc. will be carried annually. The number of passengers should be in the region of 338 000.
(Complete article)

This Transport World column
SA Transport, October 1976

Postscript: This railway has never been built, although further studies have been made over the years, linking the project to Nickel deposits in the region.”

The same railway/Mount Klahoyo Iron Ore project was revived by a Canadian company in 2000 and abandoned in 2006.

A 1999 USGS report mentions the project and the Canadian company :

“Iron ore deposits in Côte d’Ivoire were at Monogaga, which is near Sassandra between San-Pédro and Dabou, and Mount Gao, Mount Klahoyo, Mount Nimba, Mount Segaye, Mount Tia, and Mount Tortro. The country’s total iron ore resource was estimated to be 3,000 million metric tons (Mt) (MBendi information Services (Pty.) Ltd., July 12, 2000, Côte d’Ivoire—Iron ore mining, accessed February 19, 2001, at URL http://www.mbendi.co.za/indy/ming/iron/af/ci/p0005.htm).

In December 1999, Melkior Resources Inc. of Canada signed a letter of agreement with SODEMI to earn a 50% interest in the Mount Klahoyo iron deposit; SODEMI would retain 50% equity interest in the prospect. In a 1976 feasibility study, Mount Klahoyo’s iron ore reserves were estimated to be 670 Mt of iron content. The study proposed that the Mount Klahoyo magnetite, a 32.7% iron ore, could be beneficiated to a concentrate grading 70% iron with 2% silica (Melkior Resources Inc., December 16, 1999, Melkior lands a major iron project in Ivory Coast, Press Release, accessed December 17, 1999, at URL http://biz.yahoo.com/ccn/991216/m.html).”

This is the press release to which the 1999 USGS report refers:

“NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: MELKIOR RESOURCES INC.
ME SYMBOL: MKR
DECEMBER 16, 1999

Melkior Lands a Major Iron Project in Ivory Coast

NEPEAN, ONTARIO–Melkior Resources Inc. has signed a Letter of Intent with La Societe pour le Developpement Minier de la Cote d’Ivoire (SODEMI), to undertake an updating of a feasibility completed in 1976 by Pickands Mather & Company International on the Mount Klahoyo Iron deposit on which US$17,840,000 have been spent.

The 1976 feasability study has reported a reserve of 670 million tonnes of 33 % iron in the form of magnetite, sufficient to produce 300 million tonnes of pellets. The study indicates that the material has a very high purity and can be upgraded to 70 % iron.

The Government of Ivory Coast will initiate a railway prefeasibility to update a railway study originally undertaken in 1976 by a Belgian group which is interested in participating in updating the study. The 350 km railway would also serve a nickel deposit presently being evaluated by Falconbridge.

Melkior has retained the services of Mr. Robert Martin, formerly executive Vice-President of the Iron Ore Company of Canada as the company’s consultant and co-ordinator for the project. Melkior has received a proposal from Met-Chem of Montreal to update the 1976 feasibility to a current prefeasibility level to be followed by a full feasibility depending on economics.

Melkior will earn an interest of 15 % by completing a refeasibility study costing up to US$250,000 and issuing S$100,000 of its shares to SODEMI upon completion. Melkior’s interest will increase to 50 % by completing a bankable feasibility costing up to US$10 million and issuing US$2,000,000 in shares. SODEMI will hold the remaining 50 %. The importance of good economics for this project is recognised by all parties, hence the agreement anticipates proceedings beyond prefaisability stage if an Internal Rate of Return (IRR) of 25 % can be emonstrated.

The Government of Ivory Coast considers the development of Mount Klahoyo iron deposit and the nearby nickel deposits to be of high national priority. To signify this importance the Cabinet of Ivory Coast provided prior approval of the Letter of Intent. The contents of the Letter of Intent shall be submitted to regulatory authorities for approval.

Melkior’s President, Jens E. Hansen, P.Eng., has 25 years of experience on projects in West Africa including Ivory Coast”

Three years later, the required pre-feasibility study had not been completed:

2003 Annual report

(f) Côte d’Ivoire

The Company holds an option to acquire a 15% interest in a property located on the Mont Kilahoyo by financing a pre-feasibility study costing up to US $250,000. The Company can increase its interest to 50% by financing the cost of a feasibility study costing up to US $10,000,000 and issuing shares valued to US $2,000,000.

During the year, the Company wrote down the carrying value of this property by an amount of $148,203.

By 2005, Côte d’Ivoire was deeply embroiled in a civil war and Melkior was forced to shelve the project and let their option expire since the area was being held by rebel forces.

2005 Annual Report

Ivory Coast

The Company holds an option to acquire a 15% interest in a property located on the Mont Kilahoyo by financing a pre-feasibility study costing up to US $250,000. The Company can increase its interest to 50% by financing the cost of a feasibility study costing up to US $10,000,000 and issuing shares valued to US $2,000,000. The area of Mont Kilahoyo is presently held by rebels unfriendly to the Central government. Melkior has no plans at this stage to pursue work in Ivory Coast. The Company intends to let this option expire.

On 13 December 2006, Melkior issued a press release indicating that it was officially abandoning the project;

Melkior announces that the Board of directors has decided to dispose of any assets it may have in Ivory Coast as well as in the Democratic Republic of Congo (the “DRC”) in favor of 157337 Canada Inc. a 100% company owned by Mr. Jens E. Hansen, president of Melkior. This transfer of assets is for $1.00 and other valuable consideration namely the assumption by 157337 Canada Inc. of any amounts due by the Melkior in connection with its dealing in Ivory Coast as well as in the DRC. Melkior had already stated that these assets were not viewed as strategic and that it did not wish to extend any further resources towards their development.

Xstrata, a significant mining company which absorbed Falconbridge and prominently mentioned in the recent 6 Feb 2008 He-5 Resources press release , has declared recently that it was considering restarting it’s Ivory Coast nickel project at Touba-Biankouma, however it has yet to mention that it will.

28 May 2007
Xstrata mulls Ivory Coast nickel project restart

Xstrata PLC (XTA.LN) is considering the resumption of Falconbridge’s nickel project in northwestern Ivory Coast, the project’s geologist said.

A delegation (of Xstrata) is coming next month to assess the social-political situation and security,” Raoul Yao Kouame said.

The Touba-Biankouma project is located 650 kilometers (404 miles) northwest of Abidjan, in an area held by rebels since a 2002 civil war.

Falconbridge was taken over by Swiss-based, London-listed Xstrata last year.

Falconbridge started exploring and drilling for nickel in the hills between Touba and Biankouma in 1995 and reported a vast laterite deposit of 292 million metric tons of nickel ore at 1.46% nickel per ton.

The concession is the property of the state-owned Societe pour le Developpement Minier, or SODEMI.

Xstrata is operator and holds 85% of shares in the project, with SODEMI holding the rest.

In September 2002 work at the site was stopped when rebels seized the area and most of Ivory Coast northern half after failed coup against President Laurent Gbagbo.

After a 2002-03 civil war, a series of peace agreements was signed but tension remained and led to several violent crises until March, when a peace agreement was signed which included the appointment of rebel leader Guillaume Soro as Prime Minister.

Soro and his government of national unity have taken the first steps towards the country’s reunification and the return of government officials and security forces to the rebel-held north.

Expectations in Biankouma and the mining area, visited by Dow Jones Newswires last week, are high but residents said the lack of security remains a problem until Ivorian police and paramilitary gendarmerie have returned.

They said armed gangs, known locally as ‘coupeurs de route’, or highway robbers, are active in the area.

Most equipment at Falconbridge’s office in Gouessesso, near Biankouma, has been looted but the building is still largely intact and ore samples stockpiled at a warehouse and inside two containers are still there.

Xstrata does not list Côte d’Ivoire as one of the 18 countries in which it has major operations/projects : Australia, Argentina, Brazil, Canada, Chile, Colombia, the Dominican Republic, Germany, Jamaica, New Caledonia, Norway, Papua New Guinea, Peru, South Africa, Spain, Tanzania, the United States and the United Kingdom.

Touba-Biankouma does not even receive a mention in Xstrata’s 2007 annual report.

It should come as no surprise that Xstrata hasn’t rushed to restart the project since the current situation in Côte d’Ivoire is best described as fragile as these recent news reports will attest:

Côte d’Ivoire: American Embassy’s National Daily Press Review

United States Embassy (Abidjan)

29 January 2008
Posted to the web 29 January 2008

2. Soir Info (a privately-owned daily): In a front-page story, the former Ivorian President Henri Konan Bedie reportedly said that it would be possible to organize elections in Cote d’Ivoire without a total disarmament. The paper further quoted Bedie as saying: “We should recognize that there are many stumbling blocks on the way to peace. It is for that reason that we want to give priority to anything that concerns the election, because we think that this election will be one of the essential factors that could lead to peace.”

3. In a related development, Soir Info carried a feature story explaining how the New Forces are “blocking” the peace process. The paper noted that the disarmament of combatants of the former rebel group and the redeployment of public services in the former rebel territories are yet to be completed. The paper asserted that the New Forces are just playing “delaying tactics.” The paper concluded that “the delay on the part of the New Forces to implement the Ouagadougou Political Agreement is in total contradiction with the apparent enthusiasm being demonstrated by the political and the military leadership of the movement.”

CPJ urges Cote d’Ivoire to lift RFI suspension

Lagos – 06/02/2008 – Panapress

Political tensions remain high in the cocoa-rich country over the difficult implementation of a March 2007 peace deal slated to usher a democratic transition and reunite a rebel-held north and a government-controlled south.

Relations between Cote d’Ivoire, a former French colony, and France remain tense, notably over the unsolved disappearance of Franco-Canadian journalist Guy-André Kieffer.

Cote d’Ivoire: Two UN peacekeepers killed in ICoast road smash: UN

ABIDJAN, Feb 11, 2008 (AFP) – Two police officers from the United Nations peacekeeping force in Ivory Coast have been killed in a road accident, the United Nations said on Monday.

Insa Ndiaye from Senegal and Fatimata Moussa from Niger died on Friday south of Korhogo — the main town in the rebel-held north — while en route to the central city of Bouake.

The accident takes to seven the number of UN police killed in Ivory Coast since the 8,000-strong peacekeeping force — backed by 3,000-3,500 French troops — was deployed in 2004 after an attempted coup split the country in two.

A March 2007 peace deal signed in Ouagadougou, Burkina Faso, formally ended five years of conflict in cocoa-rich Ivory Coast, a former beacon of stability and prosperity in West Africa.

UN chief Ban Ki-moon said in a January 9 report that the peacekeeping mission should be maintained at current strength for another year and should be maintained until further progress is made towards lasting peace.

In November President Laurent Gbagbo and Prime Minister Guillaume Soro — the former rebel leader — signed a deal to hold elections in late June 2008 at the latest.

The current He-5 Resources “project” for Côte d’Ivoire bears more than a passing resemblance with a past proposed and abandonned project by Melkior Resources (and it’s predecessor Consolidated Trillion Resources) in Côte d’Ivoire.

Something Old, Something Borrowed…

13:52 2/22/2008 MRES MRESE M45 Mining Resources Inc. Common Stock Delinquent

The OTCBB website states :

“All Security Symbols appended with an “E” will be ineligible for quotation and subject to removal from the OTCBB in 30 calendar days (60 days if denoted with a plus sign “+”) if the NASD does not receive information indicating that the company is current in its public reporting obligations pursuant to Rule 6530. “

Umining announced the location in it’s latest press release as the Simondou area of Guinea and claiming to be in the final stages of a multi million dollar project:

“The Mining Concession consists of an iron ore property situated in the Mount Simandou region of southeastern Guinea. The property covers a 55-km-long zone in the Simandou Mountain Range. Drill assays from previous exploration programs on the Simandou Range indicated a high-grade hematite, with a concentration of over 67% Fe (Iron), and an estimated of 3 billion plus metric tons of iron ore resources (Source: Guinea Ministry of Mines and Geology, 2005). In fact, the nearby Pic de Fon iron ore deposit has an estimated 1.2 billion metric tons of iron ore at a grade of about 65% to 68% iron. It is this fact together with the previous tests done in the area that have lead U Mining and its team to believe that this newest concession will soon be regarded as a world-class iron ore resource, and the Simandou region home to Africa’s largest iron ore deposits.”

It is a well known fact that iron ore deposits in Guinea are significant, however they are also remote which is why the French in the 1950′s and later the Chinese in the 1960′s decided against mining in the Simandou area.

In order to access world markets, the ore must be shipped through a thick ecologically fragile rainforest jungle by rail to a sea port.

This is why the proposed Transguinean Railway (graphic below, click to enlarge) is a national infrastructure of major importance to Guinea.

This proposed railway will cross the entire country and will end at Makatang (Makatong in English) a new deep water port.

In October 2006, a forum concerning the proposed Transguinean Railway was held in Dusseldorf, Germany.

The invitation to various Governments stated:

SUBJECT: Forum on Proposed Transguinean Railway and Mining Sector, Dusseldorf, October 27-28

Guinean Minister of Mines and Geology Dr. Ousmane Sylla requests the participation of interested U.S. officials and business representatives at a forum on the proposed
Transguinean Railway and Guinea’s mining sector in Dusseldorf, Germany, on October 27-28, 2006.

The proposed Transguinean Railway is directly linked to the future commercial exploitation of major, high-grade iron ore deposits in the remote regions of Mont Nimba and Simandou.

In Dusseldorf, the Guinean Ministry of Mines plans to present the results of the recently completed feasibility studies for the proposed Transguinean Railway as well as the proposed deep-water port at Matakang, south of Conakry.

The Ministry of Mines also plans to use the forum in Dusseldorf to present information on Guinea’s rich and diversified mining sector (bauxite, iron, gold, etc.).

Interestingly, there’s an Australian company which has recently been doing infrastructure roadwork in Guinea on a very large scale and also does rail construction.

It defies logic that a project of this magnitude which UMining claims to be spearheading in a small country such as Guinea would have escaped the attention of local journalists and interested parties.

Therefore, the blog proceeded to Guinean sources such as “L’Aurore” an online which specializes in Guinea mining “scoops” to unearth any such coverage, no matter how large or small.

A search on l’ Aurore’s website for “Rio Tinto”, a company which has a very large presence in Guinea (it has a 50 year mining concession permit for Simandou ) will generate news items, including one in January 2008.

In fact, it is rather easy to locate information on the Simandou project and companies (Rio Tinto, EuroNimba) operating in Guinea.

However, a similar search for “UMining” and “Comitrag” (U Mining’s majority-owned subsidiary) on the website did not yield ANY results.

The blog attempted to locate information concerning “Umining” and “Comitrag” press release claims concerning this significant project on virtually every news website hosted in Guinea such as:

GuineeNews, conakryonline, Guinea Forum, Guinea Future, Le jour Guinee, Africa Guinee, Guinee Conakry info, Guinee Presse Info, Guinee24.com, L’Indépendant, InfoGuinee, Horoya, La Nouvelle Tribune, L’Observateur, Le BaoBab and l’Enqueteur.

Not a single comment or mention appears on any of these Guinean websites concerning “UMining” and “Comitrag” claims to be working towards an infrastructure contract or mining concessions.

No matter if that statement is misleading or that it defies logic, once a position is taken, it is repeated often and vigorously until it is no longer useful or practical.

Over a year ago, UMining stated unequivocally that it had acquired 222 Uranium Mining Claims in the 24L01 map location area of Quebec.

Jan 31, 2007 08:30 ET
Globex, Inc. Finalizes Acquisition of 222 Uranium Mining Claims in Northern Quebec

NEW YORK, NY — (MARKET WIRE) — January 31, 2007 — Globex, Inc. (PINKSHEETS: GLXI) today announced that it has finalized the acquisition of 222 Uranium Mining Claims in the Province of Quebec, Canada. The Claims are located about 200 miles south of the Ungava Bay, North of Quebec, near the town of Tasjujaq. They are situated in the 24L01 area adjacent to the exploration sites owned by two mining corporations, namely Uranor Inc. and Canadian Royalties Inc.

Shareholders may view the precise location of the claims via the following link: http://www.umining.com.

A year later, the UMining website (recently updated) asserts 70 claims are registered by UMining as can be seen in this screenshot below (click on the graphic to view in larger scale).

UMining visibly disturbed at the lack of a logical and cohesive explanation for having registered so few claims recently took it upon itself to respond (seen in the graphic below) on it’s website in this significantly unprofessional manner, that it requires 6 months for a claim to be processed within the Government of Quebec:

UMining’s press release over a year ago stated unequivocally that it had “finalized the acquisition of 222 Uranium Mining Claims “.

However a year later, only 39 claims are currently registered with the Quebec Government behalf of UMining.

Not one of the 39 claims is registered in area 24L01:

CDC 2077422 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077423 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077424 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077425 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077426 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077427 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077428 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077429 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077430 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077431 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077432 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077433 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077434 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077435 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077436 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077437 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077438 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077439 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077440 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077441 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077442 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077443 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077444 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077445 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077446 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077447 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2077448 Active U Mining Resources Inc (80336) (100%) 2007/04/18 2009/04/17 0,00 $ 1 200,00 $ 31J14
CDC 2138785 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138786 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138787 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138788 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138789 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138790 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138791 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138792 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138793 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138794 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138795 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12
CDC 2138796 Active U Mining Resources Inc (80336) (100%) 2007/12/11 2009/12/10 0,00 $ 135,00 $ 33H12

UMining has chosen not to register a single claim in map area 24L01 for a reason, and that reason has little to do with the Government of Quebec not processing the registrations.

Take a wild assertion which defies logic and repeat it enough times in the expectation that your audience may begin to take it as truth.

This technique is called argumentum ad nauseam which is often used in propaganda.

The Cortellazzi Consortium is taking this technique to new heights with their most recent “African” endeavors.

The Blog has been reviewing information concerning the “African” projects and will report at a later time.

Argumentum Ad Nauseam…

The Blog’s response:

The Blog is a strong supporter of the Blue Ribbon Campaign (Free Speech Online).

Permission is not required under law, the contents of the blog are public information found in the public domain and hosted on a public medium.

Content has been added to the “operational” placeholder webpage which the blog previously reported as empty.

However, it’s the which has been been removed from the website is far more telling.

The following press releases no longer appear on the website:

1. Globex, Inc. in Negotiations to Acquire 200 Uranium Mining Claims in Northern Quebec (Jan 23, 2007 12:40 ET)
2. Globex, Inc. Announces Shareholder Approval of Uranium Mining Claims Acquisition and Plans to Establish Mining Subsidiary (Jan 25, 2007 08:30 ET)
3. Globex, Inc. Finalizes Acquisition of 222 Uranium Mining Claims in Northern Quebec (Jan 31, 2007 08:30 ET)
4. Globex, Inc. Announces Plans to Acquire Additional Uranium Mining Claims in Northern Quebec (Feb 02, 2007 09:19 ET)
5. Globex, Inc. Commences Development of Phase I of Drilling Program at Uranium Mining Property (Feb 07, 2007 09:45 ET)
6. U Mining Resources Inc. Signs Joint Venture Agreement to Earn 50% Interest in Nevada-Based Toiyabe Peaks Uranium Mining Project From ABV Gold Inc. (Jun 21, 2007 10:21 ET)
7. U Mining Resources Inc. Announces Initialization of Company Stock Buyback Program (Jun 22, 2007 08:30 ET)
8. U Mining Resources Inc. Announces Closing of TSX Venture Corporation Acquisition Jul 12, 2007 10:11 ET)
9. U Mining Resources Inc. Announces Negotiations for Acquisition of Multi-Million Dollar Bio-Diesel Plant in United States (Aug 20, 2007 10:19 ET)
10. U Mining Resources Inc. Signs Letter of Intent to Acquire an Initial 40% Interest in a US Bio-Diesel Facility Valued at $25 Million (Aug 23, 2007 08:30 ET)
11. U Mining Resources Inc. Announces Next Tuesday’s Management Trip to Texas to Finalize Binding Agreement for Acquisition of 55% Interest in Bio-Diesel Facility Valued at $25 Million (Sep 05, 2007 09:04 ET)
12. U Mining Resources Inc. Has Received the Laurentide 1 and 2 Preliminary NI-43-101 Report to Be Published in Its Final Format This Week (Sep 17, 2007 09:46 ET)
13. U Mining Resources Inc. Provides Update on Its Green Energy Division (Oct 16, 2007 10:58 ET)

The Cortellazzi Consortium’s concern about this misleading information is genuine and well founded, however this action will not lessen their responsibility.

Some new additions include, a page on the “African” projects which the Cortellazzi Corsortium are particularly vague and claiming confidentiality is essential:

“U Mining has chosen to keep specific details of this pending contract, including the name of the country they’ve been working with, confidential for the time being in order not to jeopardize this developing relationship and the ongoing negotiations. “

The website includes a new page on the “green” bi0-fuel projects which UMining has also been flogging in many recent press releases.

There’s a vacant web page with the dynamic sounding title “operational” which purports to be a placeholder for forthcoming information.

However, the focus of today’s item is another page, the “about ” page.

In order to fully comprehend today’s item, the blog provides 2 of the previous “about” pages which appear in the following graphics.

31 May 2007

17 August 2007

The 10 January 2008 update of the “about” page which amongst other things includes these disclaimers:

“Please be advised that U Mining is a Company in development stage and that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. “

“The Company intends to continue its exploration of the territories during 2008. There are no guarantees that the Company will be successful or will be able to obtain sufficient capital to conduct the surveys.”

In the latest update UMining continues to suggest as it has in previous “about” pages (seen above) that financial filings will be filed in due course:

“The Company is currently finalizing its 2 years financial statements for November 30th 2006 and November 30th 2007. Management will publish the financial statements within the first quarter of 2008.

These financial statements will be filed simultaneously with Pink Sheets new disclosure statements and in compliance with management current intentions to up list the Corporation.”

However, the most interesting part of the latest update is something which has been omitted.

The highly touted TSX venture acquisition which a 12 July 2007 press release declared as completed and a 17 Sept 2007 press release stated the “take over process of the TSX Venture has begun” has vanished from the “about” page without any explanation nor any mention of it’s previous existance.

The current “about” page also states: “U Mining is not affiliated with any other Companies nor owned by any other groups or Corporations.”

Just as in the tales of Aladdin, the evil web wizard has dressed up the latest website update and offers new, shiny lamps as a free trade for old ones.