775-***-**** • abmgck@r.postjobfree.com */*/2010

George V. Masaitis, M.Sc.

Thursday, July 01, 2010

GEORGE V. MASAITIS, M.Sc.

SUMMARY OF QUALIFICATIONS:

Economic geologist with 24 years of international experience in exploration, development, and mining for

gold, base metals, uranium, diamonds, and a variety of industrial minerals. Have extensive experience in

evaluating exploration, development, and acquisition targets worldwide. Managed and took part in

various projects from grassroots exploration to ongoing mining operations. Generated exploration

programs for cost-effective target selection and evaluation, as well as provided geologic technical review,

guidance and support during the execution of these programs. Have a successful track-record in the

generation of international gold projects in Russia, China, and the Central Asian Region (FSU). Mapped

and sampled various sedimentary, igneous, and metamorphic terranes. Collected, integrated, and

interpreted spatially referenced geological, geochemical, geophysical, geomechanical, structural, and

petrographic data. Assisted in developing exploration and mine models. Accustomed to working in tough

and primitive field conditions. Have a very extensive expat experience.

WORK EXPERIENCE:

January 2010 – March 2010

Fortress Minerals Corporation (FST), Vancouver, Amur Region, Far East

Canada, through Fortress (Cayman) Corporation, Russia

Cayman Islands

P roject Geologist,

Malmyzh Copper Gold Porphyry Exploration Project

Implemented first stage exploration drilling program on blind geophysics-indicated targets within a 40-km2 area of

Malmyzh property, Khabarovsk district, Russian Far East, which is a highly prospective area that displays copper-

gold porphyry mineralization style similar to Oyu Tolgoi Deposit in Mongolia. Performed detailed core logging and

ongoing drilling program supervision. Supported overall project management. Provided Fortress Minerals

Corporation (FST) and Freeport-McMoRan Exploration Corporation (FMEC) management with detailed daily

progress reports.

March 2008 - October 2008

Uranium 308 Corporation (URCO), Mongolia

Nevada, USA

Due Diligence Consultant

Investigated and evaluated numerous mineral business opportunities throughout Mongolia. Evaluated

geological data for a number of uranium, gold, and coal properties and assessed their mineral resource

potential. Assisted URCO in implementing ongoing pre-feasibility study of the 196.38-km2 Janchivlan

uranium exploration licenses. Developed a plan for the feasibility study of the cassiterite placer deposits

known within the area surrounding the Janchivlan Ore Cluster. Provided URCO upper management with

scope analyses and recommendations in summaries and reports.

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George V. Masaitis, M.Sc.

November 2005 - October 2007

Private US and Canadian clients FSU / CIS, USA

Independent Mineral Exploration Consultant

Consulted for a number of private US and Canadian investors committed to pursuing business opportunities

through exploration and acquisition of quality advanced opportunities in Russia and the Former Soviet Union

(FSU). Conducted mineral-resource assessments of numerous gold exploration, development, and acquisition

targets in Karelia, Southern Siberia, Tadzhikistan, Kirgizia, and the Russian Far East. Conducted basic research

on regional metallogenesis. Conducted research that integrated spatially referenced geological, geochemical,

geophysical, and remote sensing data. Provided expertise to resolve issues that significantly affected geologic

programs and made long range proposals. Provided clients with scope analyses and recommendations in

summaries and reports.

June 2003 - October 2005

High River Gold Mines Ltd. (HRG), Russia (Southern Siberia),

Toronto, ON, CANADA CIS, China, Canada

Chief Geologist, Russia

Was responsible for the support of HRG’s strategic initiatives in Russia, to explore, define, and, where necessary,

acquire gold reserves adjacent to existing production facilities, to define geological trends prospective for

discovering new and significant gold deposits, to develop conceptual geological exploration plays, and to increase

HRG’s support for their partner’s exploration initiatives in Asia.

Evaluated and assessed large geological regions of European Russia, Southern Siberia, Russian Far East, and

Northern Mongolia for their mineral resource potential and identified a number of projects that answered

Company’s target criteria. Conducted mineral-resource assessments of gold exploration and development targets

in remote areas of Russia and China. Assisted in development of contact base in target countries. Compiled,

analyzed, and field checked spatially referenced geological, geochemical, geophysical, and remote sensing data

for a variety of properties. Conducted basic and applied research on regional metallogenesis that supported a

variety of geologic, mineral-resource, and mineral-environmental studies designed to characterize Zun-Holba and

Irokinda gold deposits and their geologic context. Provided HRG with scope analyses and recommendations in

summaries and reports.

June 2003 - October 2005

Intrepid Minerals Corporation (IAU) Russia, Canada

RosCan Minerals Corporation (ROS),

Toronto, ON, CANADA

Mineral Exploration Consultant

During the same period consulted for Intrepid Minerals Corporation (IAU) regarding Russian Pacific Rim

Epithermal gold exploration, development, and acquisition targets and for RosCan Minerals Corporation (ROS)

regarding diamond properties in European Russia and uranium projects in Mongolia.

Evaluated and assessed large geological regions of European Russia, Russian Far East, and NW Mongolia for

their mineral resource potential and identified a number of projects that answered Companies’ targets criteria.

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George V. Masaitis, M.Sc.

Conducted basic and applied research to determine the relation of mineralization to tectonic evolution of

Kamchatka Peninsula and Kuril Islands for the Intrepid Minerals Corporation’s Russian Pacific Rim initiative.

March - May 2003

ALCOA, Pittsburgh, PA, USA Suriname

Project Geologist, Nassau Gold Exploration Project

Was in charge of the project for the duration of my stay there infilling for the absent Project Manager. Was

responsible for daily drilling program supervision, surveying and preparation of the suitable drill pads, detailed and

summary core logging. Authored the onsite Procedures Manual. Consulted ALCOA upper management team

regarding Nassau Gold Exploration Project issues suggesting procedural and organizational changes. Because

of my proposals needed organizational changes were introduced, my procedures manual was set in place, and a

new drilling contract designed.

June 2000 - March 2003

Texas Utilities Corporation (TXU), Tajo USA

Minerales LLC, other small companies and

individual clients

Exploration Geologist, Independent Consultant

Consulted for a number of small companies and individual clients, did some industrial minerals properties

evaluations in Arizona, Nevada, and Utah. Worked as a geologist for Texas Utilities Corporation (TXU) on a

lignite exploration-drilling program at Big Brown Mine near Fairfield, TX. Consulted for Tajo Minerales, a

Honduran subsidiary of two Utah LLCs, which owns an initial stage gold development project and runs a small

exploration program in Honduras.

June 1999 - June 2000

Call and Nicholas Inc. (CNI), Tucson, AZ, USA USA

Drilling Program Manager

Onsite manager for a geotechnical drilling program at the US Borax (Rio Tinto) Kramer Mine, near Boron,

California. Carried independent responsibility for overall supervision of all Call and Nicholas onsite activities and

personnel, planning and implementing a geotechnical drilling program ($1.8 million US Dollars in 1999),

geological and geomechanical core logging, and data management. Build extensive paper cross-sections of the

deposit. Compiled, analyzed, processed, and cross-referenced data provided for the three dimensional Vulcan

(Maptek) computer model of the Kramer Borax Deposit and the design of the Kramer open pit mine.

March 1997 - September 1998

Cyprus Amax Minerals Company, USA, Zambia

Denver, CO, USA

Project Geologist, Kansanshi Copper Mine

Part of the Cyprus Amax team effort to carry out pre-feasibility and feasibility studies of the Kansanshi Property.

Responsible for managing the pre-feasibility and initial stage feasibility exploration drilling program with as many

as, six drill-rigs running around the clock. Was in charge of the project during Chief Geologist’s absence. Verified

and approved over $1.3 million US dollars in drill costs. Managed, integrated, and interpreted an assortment of

geological data. Quick-logged 50,000m of core for 120 holes drilled on the project before January 1998. Did

detailed geological logging of the core including re-logging of the old core available from previous years of

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George V. Masaitis, M.Sc.

exploration efforts. The fact that Kansanshi is now a very successful Copper Gold Mine (First Quantum Minerals

Ltd.) is at least in part due to our team’s exploration efforts.

July 1996 - March 1997

Cyprus Amax Minerals Company, USA, Russia / FSU

Denver, CO, USA

Geological Consultant

Was involved in evaluating and assessing geological regions, tracts, and terranes of Russia, Kazakhstan,

Republics of Central Asia, Ukraine, and Bashkortostan for their mineral resource potential. Evaluated geological

data for a number of base metals and gold properties located in target countries and assessed their mineral

resource potential. The objective of this work was to identify exploration, development, and acquisition targets

that matched Cyprus Amax Minerals Company’s target criteria. The results achieved were presented to the upper

management in summaries and reports. Participated in meetings, negotiations, and presentations between the

President and CEO of Cyprus Amax Minerals Company Mr. Milton H. Ward, other officers of the Company and the

representatives of various Russian organizations including high-ranking government officials.

July 1992 – July 1996

North American Exploration Inc. (NAE), USA

Kaysville Utah; Santa-Fe Pacific Gold

Corporation; Kennecott Corporation; Kennecott

Utah Copper Company (Rio Tinto)

Geologist

Conducted field projects in Nevada, Utah, Texas, Idaho, Arizona, Wyoming, Colorado, Montana, and South

Dakota for various clients. Performed geological and geotechnical core logging, theodolite and GPS surveying.

Supervised oriented core drilling, as well as, numerous geochemical soil and rock chip sampling, and claim

staking projects. Worked as a consultant for Santa-Fe Pacific Gold Corporation. Took part in meetings,

presentations, and negotiations between Kennecott Corporation (RTZ Corporation PLC of London) officers,

including President and CEO of Kennecott Corporation Mr. G. Frank Joklik, and Russian Deputy Minister of

Geology Mr. Boris A. Yatskevich. Through NAE contracted with Bingham Mine Geology Department, Kennecott

Utah Copper Company. Performed detailed structural study of parts of Bingham pit, and a thin-section study of an

alteration sequence; responsible for the geotechnical logging of the core for 1993 drilling program.

May 1988 – September 1990

Russian Geological Survey (VSEGEI), Kyrgyzstan

St. Petersburg, Russia

Exploration Geologist, Field Project Supervisor

Exploration geologist, field project supervisor with Central Expedition of the All-Union Geological Research

Institute (VSEGEI), St. Petersburg, Russia.

Conducted an exploration project in the Tien Shan Mountains of Kyrgyzstan, Central Asia. As part of a three-

geologist crew, mapped 300-km2 area of the Kyrgyz Mountain Range at 1:25,000 scale. Took measurements and

collected information and samples. Responsible for detailed petrographic study of 2,500 thin-sections.

Conducted research that integrated spatially referenced geological, geochemical, geophysical, and remote

sensing data. The work was a complex study that involved both geological mapping of 300-km2 area and

carrying out detailed geological assessment of the Kyrgyz Mountain Range mineral resource potential. I authored

the Petrologic section of a three-year project report and the Kyrgyz Mountain Range geological map legend. I am

also one of the authors of the Kyrgyz Mountain Range geological map. The results of my work were incorporated

in a three-year Geological Survey report.

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George V. Masaitis, M.Sc.

November 1985 – April 1988

Russian Geological Survey (VSEGEI), Russia (Karelia, Kola

St. Petersburg, Russia Peninsula, Baltic Shield)

E xploration Geologist

Exploration geologist with the Department of Geology of Western Regions, VSEGEI, St. Petersburg, Russia.

Worked on grassroots exploration for greenstone hosted gold deposits on the Baltic Shield. Conducted detailed

geological mapping of Precambrian terranes of Kola Peninsula and Northern Karelia. Took measurements and

collected information and samples. Responsible for detailed petrographic study of thin-sections. Conducted

research that integrated spatially referenced geological, geochemical, geophysical, and remote sensing data.

Assisted higher level Geologists in carrying out detailed geological assessment of the regions, tracts, and terranes

of Northern Karelia and the Kola Peninsula for their potential to host gold deposits. The results of my work were

incorporated in a three-year Geological Survey report.

July 1985 – November 1985

Russian Geological Survey (VSEGEI), Russia (Kamchatka

St. Petersburg, Russia Peninsula, Far East)

F ield Geologist

Field geologist with the Department of geology of Eastern Regions, VSEGEI, St. Petersburg, Russia.

Participated in the reconnaissance project on the Central Mountain Range of Kamchatka Peninsula in the

Russian Far East.

Assisted higher level Geologists in carrying out detailed geological mapping of Cenozoic volcanogenic-

sedimentary terranes of the Central Kamchatka Mountain Range. Took measurements and collected

information and samples. Conducted routine calculating, plotting, and checking of numerical data;

prepared graphs and data profiles; and carried out routine analyses. The work involved receiving clear,

specific, and detailed instructions as to the methods, procedures, and guidelines to use.

EDUCATION:

September 1980 - June 1985

St. Petersburg State University St. Petersburg, Russia

Master of Science Degree

Master of Science Degree in Geology with emphasis on Geochemistry and Petrography from St. Petersburg

University, St. Petersburg, Russia. Thesis: "Petrology of Devonian Volcanogenic Terrain of Curuck-Zamcherud

Area of the Tien Shan Mountains in Tadzhikistan, Central Asia”. Advisors: Nikolay F. Shinkaryev Ph.D., Dr.Sc. (St.

Petersburg University), and Ludmila N. Sharpionok Ph.D., Dr.Sc. (VSEGEI).

During the university years, participated in four field exploration projects on the work/study basis, in Tien-Shan

Mountains, Central Asia; on Spitsbergen (Svalbard) Archipelago, Arctic Norway; on Kola Peninsula, European

Russia; and in Sayan Mountains of Western Siberia.

In 1994, my official academic transcripts and diploma underwent close scrutiny prior to their submission with the

United States Department of Labor. The evaluation was done by the A&M Logos International, Inc., a private firm

that specializes in interpretation of foreign educational credentials. The A&M Logos International is a member of

the American Association of Collegiate Registrars and Admissions Officers (AACRAO), a member of the American

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George V. Masaitis, M.Sc.

Association of International Educators (NAFSA), is accredited by the American Translators Association (ATA

member number 30911), and has Recommendation from the Embassy of the Russian Federation.

My diploma, in level and intent, has been deemed equivalent to a Master of Science Degree in Geochemistry, with

a major in Geochemistry, Geology, and Petrography, granted by a regionally accredited academic institution in the

United States.

AFFILIATION:

Member of the Society of Economic Geologists

Member of the Geological Society of Nevada

Member of the Nevada Petroleum Society

PERSONAL:

Born in St. Petersburg, Russia in 1963. Residing in the USA since May 1991. Dual national. Citizen of both the

United States of America and the Russian Federation.

REFERENCES:

References are available on request.

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