Cannon Exploration Inc. (fka CNEX)

[Bahama Pete]

The Queen Alexandra Mine has known gold values, having produced gold in the past. In the early 20th century, an English mining syndicate sank an 85 foot shaft and milled 18 tons of ore, grading 16.6 ounces of gold. Cannon Exploration has conducted limited ground geophysical surveys on the project, which have indicated a conductive zone in the immediate shaft area located on the property. The survey also reconciles with and supports the known historical information that mineralization is present in that area, and trends along the same zone where the one shaft and exploration pit, as well as several trenches, exist.