Exploration projects

Crew has interest in two exploration projects: WA, Ghana and Glover Island, Canada.

The Wa Property - Ghana

The Wa property is located in NW Ghana about 530 kilometers from the capital city of Accra. Crew Gold’s rights relating to the property were acquired when it acquired Guinor. Crew’s three prospecting licenses cover highly prospective Birimian greenstone host rocks where gold mineralization typically occurs as disseminations, stockworks and veins within the greenstones.

The work performed in 2008 indicated that while the Wa Property reresented a significant resource possibility it would not be sufficient to support a full operation. For this reason, Crew entered into negotiations with a neighboring exploration company to combine the properties. The negotiation was finalized with Azumah Resources Limited in early 2009, according to which Azumah will be able to earn up to a 100% interest in the Wa property by performing the exploration work required under the permits. Crew will receive an increasing number of Azumah shares depending on the success of the exploration program and a royalty based on ounces produced.