Multi-Metal Development Corp. (MLYCF)

[eom7]

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Overview

The Cariboo Gold Project is easily accessible by existing roads in the Wells-Barkerville area of east-central British Columbia, Canada. An integral part of the famous Cariboo Gold Rush of 1861, the property comprises three prolific claim groups including Mosquito Creek (namesake of Mosquito Consolidated Gold Mines Limited), Cariboo Gold Quartz and Island Mountain. To date, recorded production totals 3.8 million ounces of gold.

In October 1994, Mosquito Gold optioned 50% interest in the Cariboo Gold Quartz claim group to International Wayside Gold Mines. Mosquito Consolidated granted Wayside the exclusive option to acquire the remaining 50% interest in Cariboo Quartz Gold and 100% interest in both the Island Mountain and Mosquito Creek claim groups under the terms of a second agreement dated August 2003. The second option agreement was completed on December 31, 2006. The first agreement still requires a postive bankable feasibility study to be delivered before the 50% intrest is earned.

On January 20, 2010 International Wayside Gold Mines changed its name to Barkerville Gold Mines Ltd. and is continuing to develop the property.

Presently Mosquito retains a 3% net smelter royalty and the 50% interest described above in the October 1994 Agreement . The royalty gives Mosquito 3% of gross revenues from all minerals produced from the property less smelter charges and transportation costs to a smelter.

http://www.mosquitogold.com/s/CaribooGold.asp?ReportID=144372