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SAFE HARBOR / DISCLAIMER:
Information in this website may contain statements about future expectations, plans, prospects or performance of
Osprey Gold Corp. that constitute forward-looking statements for purposes of the safe harbor provisions under
the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect,"
"believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking
statements. Osprey Gold Corp. cautions you that any forward-looking information provided by or on behalf of
Osprey Gold Corp. is not a guarantee of future performance. None of the information on the website constitutes
an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions
on information contained in the website. Osprey Gold Corp.'s actual results may differ materially from those
anticipated in such forward-looking statements as a result of various important factors, some of which are beyond
Osprey Gold Corp.’s control, in addition to those discussed in Osprey Gold Corp.’s press releases, public filings,
and statements by Osprey Gold Corp.’s management, including, but not limited to, Osprey Gold Corp.’s estimate
of the sufficiency of its existing capital resources, Osprey Gold Corp.’s ability to raise additional capital to fund
future operations, Osprey Gold Corp.’s ability to refinance or repay its existing indebtedness. All such forward-
looking statements are current only as of the date on which such statements were made. Osprey Gold Corp. does
not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances
after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
Osprey Gold Corp.




Corporate Profile
Osprey Gold Corp.’s mission is to increase shareholder value through strategic property acquisition and
exploration of high quality mining projects, in Canada and around the world, with the goal of discovering
economically viable mineral deposits.

With the resurgence in the price of gold and the world economy in an upswing, we are aggressively building our
land claim holdings in Northern Ontario. We have concentrated our efforts in two major areas Including
Gogama, north of Sudbury, and Lingman Lake located north of Red Lake and just east of the Manitoba border.

Osprey's main focus is the Jerome Mine, a past Au-Ag producer (56,878 oz Au; 15,104 oz Ag), near Gogama,
Ontario. The Company is moving forward with a multi-stage drilling program in order to upgrade the resource
from inferred to the proven/probable category and to increase reserves.

Effective October 22, 2004, following a 1-for-5 share rollback, there will be 35,911,822 common shares
outstanding. We trade on the OTC Bulletin Board under the symbol OSGL.

You can find out more information on our company by reviewing the documents currently on file with the SEC at:
www.sec.gov and / or by reviewing the contents of this web site in greater detail.

Exchange:

    OTC Bulletin Board

Symbol:

    OSGL

Current Quote:

    http://quotes.nasdaq.com/quote.dll?mode=stock&page=multi&symbol=OSGL&symbol=&symbol=&symbol=&symbol=&symbol=&symbol=
    &symbol=&symbol=&symbol=&selected=OSGL




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All About Gold
Gold, symbol Au (from Latin aurum, "gold"), soft, dense, bright yellow metallic element. Gold is one of the
transition elements of the periodic table; its atomic number is 79.

Pure gold is the most malleable and ductile of all the metals. It can easily be beaten or hammered to a thickness
of 0.000013 cm (0.000005 in), and 29 g (1.02 oz) could be drawn into a wire 100 km (62 mi) long. It is one of the
softest metals (hardness, 2.5 to 3) and is a good conductor of heat and electricity. Gold is bright yellow and has a
high luster. Finely divided gold, like other metallic powders, is black; colloidally suspended gold ranges in color
from ruby red to purple.

Gold is extremely inactive. It is unaffected by air, heat, moisture, and most solvents. It will, however, dissolve in
aqueous mixtures containing various halogens such as chlorides, bromides, or some iodides. It will also dissolve
in some oxidizing mixtures, such as cyanide ion with oxygen, and in aqua regia, a mixture of hydrochloric and
nitric acids. The chlorides and cyanides are important compounds of gold. Gold melts at about 1064° C (about
1947° F), boils at about 2808° C (about 5086° F), and has a specific gravity of 19.3; its atomic weight is 196.97.

Gold is found in nature in quartz veins and secondary alluvial deposits as a free metal or in a combined state. It is
widely distributed although it is rare, being 75th in order of abundance of the elements in the crust of the earth. It
is almost always associated with varying amounts of silver; the naturally occurring gold-silver alloy is called
electrum. Gold occurs, in chemical combination with tellurium, in the minerals calaverite and sylvanite along with
silver, and in the mineral nagyagite along with lead, antimony, and sulfur. It occurs with mercury as gold
amalgam. It is generally present to a small extent in iron pyrites; galena, the lead sulfide ore that usually contains
silver, sometimes also contains appreciable amounts of gold. Gold also occurs in seawater to the extent of 5 to
250 parts by weight to 100 million parts of water. Although the quantity of gold present in seawater is more than 9
billion metric tons, the cost of recovering the gold would be far greater than the value of the gold that could thus
be recovered.

The metal has been known and highly valued from earliest times, not only because of its beauty and resistance to
corrosion, but also because gold is easier to work than all other metals. In addition, gold was easier to obtain in
pure form than the other metals. Because of its relative rarity, gold became used as currency and as a basis for
international monetary transactions. The unit used in weighing gold is the troy ounce; 1 troy ounce is equivalent to
31.1 grams.

The major portion of the gold produced is used in coinage and jewelry. For these purposes it is alloyed with other
metals to give it the necessary hardness. The gold content in alloys is expressed in carats. Coinage gold is
composed of 90 parts gold to 10 parts silver. Green gold used in jewelry contains copper and silver; white gold
contains zinc and nickel, or platinum metals. Gold is also used in the form of gold leaf in the arts of gilding and
lettering. Purple of Cassius, a precipitate of finely divided gold and stannic hydroxide formed by the interaction of
auric chloride and stannous chloride, is used in coloring ruby glass. Chlorauric acid is used in photography for
toning silver images. Potassium gold cyanide is used in electrogilding. Gold is also used in dentistry.
Radioisotopes of gold are used in biological research and in the treatment of cancer.

The simplest process used for mining gold is panning, using a circular dish often with a small pocket at the
bottom. The prospector fills the dish with gold-bearing sand or gravel, holds it under a gentle stream of water, and
swirls it. The lighter parts of the gravel are gradually washed off and the gold particles are left near the center of
the pan or in the pocket.

As gold mining developed, more elaborate methods were introduced and hydraulic mining was invented. The
hydraulic method consists of directing a powerful stream of water against the gold-bearing gravel or sand. This
operation breaks down the material and washes it away through specially constructed sluices in which the gold
settles, while the lighter gravel is floated off. For mining on rivers, elevator dredges are generally used. The
elevator dredge is a flat-bottomed boat that uses an endless chain of small buckets to scoop up the material from


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the river bottom and empty it on the dredge into a trommel (a container built of screening). The material is rotated
in the trommel as water is played on it. The gold-bearing sand sinks through perforations in the trommel and
drops onto shaking tables, on which it is further concentrated. Dredging can also be used in dry beds of ancient
rivers if ample water is within a reasonable distance. A pit is dug, and the dredge is moved in and floated on water
pumped from the adjacent source.

Extensive underground deposits of gold-bearing rocks are often discovered by a small outcrop on the surface.
Shafts are sunk, as in coal mining, and the ore is brought to the surface. It is then crushed in special machines.
Gold is extracted from gravel or from crushed rock by dissolving it either in mercury (the amalgam process) or in
cyanide solutions (the cyanide process). Some ores, especially those in which the gold is chemically combined
with tellurium, must be roasted before extraction. The gold is recovered from the solution and melted into ingots.
Gold-bearing rock with as little as 1 part of gold to 300,000 parts of worthless material can be worked at a profit.

The rarest form of gold is a nugget. The largest known nugget, the Welcome Stranger, weighing about 70.8 kg
(about 156 lb), was turned up accidentally, just below the surface of the ground, by a wagon wheel in Victoria,
Australia, in 1869.

Gold production dates from the Etruscan, Minoan, Assyrian, and Egyptian civilizations, when placer gold was
derived from alluvial sands and gravels by simple processes of washing or panning. Gold was produced in this
manner at an early period in India, central Asia, the southern Ural Mountains and in the regions bordering the
eastern Mediterranean. With progress in mining technique, primary auriferous (gold-bearing) veins were
exploited; this type of gold mining attained some importance before the Christian era. During the Middle Ages little
progress was made in gold production and mining.

At the time of the discovery of the Americas the value of the total gold stock of Europe was probably less than
$225 million. During the succeeding 350 years, from the end of the 15th century to about 1850, the world gold
output totaled about 4,665,000 kg (about 150 million troy oz). South America and Mexico became large producers
of gold during this period. Spain's domination in South America resulted, in the 16th century, in a large increase in
gold produced in the New World; some resulted from simple seizure of gold from the Native Americans, who had
long mined the metal.

Placer deposits of gold were discovered on the Yukon River in Canada and Alaska in 1869. The discovery in
1896 of a rich deposit in the Bonanza Creek, a headwater of the Klondike River, which in turn is a tributary of the
Yukon, led to another gold rush. In 1910 discoveries were made on Bitter Creek, near Stewart, British Columbia.
In 1911 gold was also discovered in Alaska, some 32.2 km (some 20 mi) from the Canadian boundary at the
source of the Sixty Mile River, which rises in Alaska and flows into the Yukon River. Since 1911 the production of
gold in Ontario, in the Porcupine and Kirkland lake districts, has gone ahead rapidly.

On December 31, 1974, the U.S. federal government lifted a 41-year ban on the private ownership of gold.
Around that time gold was being traded on the London bullion market at record highs approaching $200 an
ounce. After subsequent sharp decreases, prices rose to a high of $850 in January 1980. They then dropped
considerably and in the early 1990s settled at about $370 an ounce.




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Company Overview
Osprey Gold Corp. is a publicly traded company (OTC Bulletin Board, symbol OSGL) incorporated in Las Vegas,
Nevada and registered in the United States with mineral deposits in Northern Ontario, Canada.

The Company specializes in acquiring and consolidating large exploration and development mining properties
with near-term production potential and future growth through exploration discoveries. Its acquisition and
development emphasis is focused on properties containing gold, silver and other strategic minerals located in
Canada and around the world. To date, the Company has concentrated its efforts in two major areas in Northern
Ontario. These areas are Gogama, north of Sudbury, and Lingman Lake, north of Red Lake, east of the
Manitoba border, both in Ontario.

In Ontario, the mining and minerals industry is an important economic factor for the province. In 2002, this
industry contributed $5.7 billion to the economy with Ontario yielding 52% of the gold production in Canada and
hosting 48% of the proven and probable mineable ores in the country (Natural Resources Canada).

The Fraser Institute conducted a survey in 2001 and gave Ontario the highest overall ranking as the most
attractive jurisdiction in Canada and the world for investment in the minerals sector.

Senior management and field operations have proven essential in successful exploration programs. The Osprey
team represents over a century of experience in mining precious metals and base minerals in Northern Ontario.

The Osprey team consists of experienced prospectors, geologists, surface exploration managers and mine
developers. The team members have worked on properties that are directly to the east of Osprey's holdings that
have displayed the same mineral characteristics as the properties that Osprey is acquiring. These previous
properties have been diamond drilled and assayed; and have identified industrial minerals with amounts of gold,
silver, copper, molybdenum and other precious materials.




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Company: Field Management
Osprey Gold Corp. is led by a visionary management team with decades of experience in the natural resources
and minerals industry.

Frank P. Puskas, M. Sc. – Senior Chief Geologist
Mr. Puskas is an Honors graduate with a Bachelor of Science degree in Geology with a minor in chemistry from
McMaster University, Master of Science degree, minor in chemistry and completed course requirements for a
PhD from Pennsylvania’s Lehigh University.

With over 30 years in the mining industry, Mr. Puskas has worked for the Ontario Department of Mines and the
Geological Society of Canada, Senior Staff Geologist for 23 years in charge of all metal exploration worldwide
with International Nickel Company (INCO), 7 years with Anaconda American Brass as Senior Geologist for
exploration of central Canada. Mr. Puskas has a proven track record including 14 discoveries, with INCO and
Anaconda American Brass, of which four have resulted in profitable producers.

1) W-Ag-Cu, Mexico.
2) Au-Ag, Douay, Quebec.
3) Au-Ag, Casa Berardi, Quebec.
4) Fe-Sb-Zn-Ag, Mexico.

Directly responsible for ten other discoveries of the following commodities: Au-Ag, Au-Ag-, SiO2-mica, Ni-Cu-Pt-
Pd-Au-Ag, presently at various stages of market /production assessment.

Self-employed as a consultant since 1992, his clients have included Nuinsco Resources Ltd., Nova West
Resources Inc, Goldeye Exploration Limited, Crowflight Minerals Inc., Cartaway Resources Inc., Copper Hill
Corp. and Osprey Gold Corp. Mr. Puskas is currently a member of Sigma Xi, the Prospectors and Developers
Association of Canada, (PDAC), and pending professional accreditation with the Association of Geoscientists of
Ontario.


Don MacKinnon - Mine Manager
Mr. MacKinnon, a graduate of the Haileybury School of Mines comes to us with over 30 years of experience in the
mining industry. He has completed the executive program at the University of Western Ontario and has taken
many supervisory courses and is the recipient of the Premier’s Award (Technology). His career advancement
from miner to vice-president of operation for several companies such as, Condor Gold Corp., Nuninsco
Resources Ltd., Kinross Gold Corp., Lac Minerals, Timmins Nickel Inc., Westminer Canada, Sherrit and
Dickerson Mines. Mr. MacKinnon has served as director of O.M.A. and sat on the advisory board for the
Haileybury School of Mines, and has been a long standing member of the Canadian Institute of Mining and
Metallurgy (CIMM).


John Leliever - Field Operations Manager & Camp General Manager
As the third generation, Mr. Leliever began his mining career in 1979, managing his father’s companies. In 1985,
Mr. Leliever left his father's businesses to start his own diamond drilling company, Johnex Drilling. In the
intervening years before his return to Osprey Gold Corp. as General Camp Manager, Mr. Leliever pursued many
other interests outside of the mining industry.


Dr. Peter Fischer - Geologist
Dr. Fischer brings with him 36 years of experience in the exploration industry, including advanced projects,
exploration research of base metals, PGE, uranium, gold and industrial minerals throughout Canada and to a
minor degree in the United States and Africa, specializing in petrographic and textural analysis of drill core. Dr.


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Fischer has held positions ranging from staff geologist, project geologist and project manager. He has worked for
over 25 years as a consultant and contract geologist for a wide variety of Canadian, European, US and
international mining companies including 8 years with INCO, BHP, Metallgesellschaft, Urangesellchaft,
Strathcona Minerals, International Platinum Corp. and Novawest. Dr. Fischer holds an MSc and PhD degree
from the University of Munich, Germany; he was a Fellow of the Geological Association of Canada and is a
member of the Geologische Vereingung Germany. Dr. Fischer will be accredited with the AGO.


Walter Hanych - Geologist
Mr. Hanych has 24 years experience in the exploration industry with grass-roots projects and advanced mine
feasibility projects including corporate structure and financing. He has worked in gold, base metal, magmatic
nickel sulphide-PGE, diamond and industrial mineral exploration throughout Canada, from the Northwest
Territories to Quebec. Mr. Hanych has held positions of Chief Geologist and Project Manager for various
exploration companies. Currently he works as an independent consultant - contract geologist. Mr. Hanych holds
an Honors Bachelor of Science Degree from Laurentian University and has been a member of the Association of
Geoscientists of Ontario, a Fellow of the Geological Association.




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Company: Officers and Board of Directors
Gordon Leliever - President
Born and raised in Kirkland Lake, Ontario, Canada, Gordon went into the mining business in 1950 at age 17 as a
prospector and explorer following in his father’s footsteps (John (Jackrabbit) Leliever). He has been president of
many exploration companies formed in Canada, and in the 1970’s expanded his interests worldwide.


Douglas Budden - Vice President
Mr. Budden brings to Osprey knowledge and expertise, with his many years of experience in the administration
and management of small to mid-sized exploration companies in Northern Ontario, Canada.


Gerald Colborne B. Sc., M. Sc., P. Eng. - Director
Mr. Colborne is a registered professional engineer with many years of experience. He has held various
governmental positions in Canada, including serving as Deputy Minister of the Saskatchewan Department of
Industry and Commerce. In the private sector, he has held the positions of Director of the Royal Bank's Mining
Industry Department and V.P. of the Mineral Resources Division of Abitibi Price. He has also acted as a
consultant with assignments for the United Nations. During his career he has spent much time working and
consulting throughout the world.


A.C.A. (Peter) Howe, P. Eng. - Mining Engineer - Director
Mr. Howe is a mining engineer who graduated with a B.Sc. from Imperial College, and an A. R. S. M. at the Royal
School of Mines, London, England in 1949. He attended schools in England and Australia. He is a registered
professional engineer of Ontario, Canada, and a Fellow of the Canadian and Australian Mining and Metallurgical
Societies. During his career as a consultant, Mr. Howe was in charge of exploration for several mines in Canada,
England and Australia, as well as Indonesia. Mr. Howe has served as an officer and director of several mining
companies during his career.


Gerald E. Baird - Director
Mr. Baird has been in the construction business since 1962. At the present time, his son is operating the family
construction business. Mr. Baird is semi-retired and will be advising the company on all construction matters and
open pit mining.




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Company: Contact Osprey Gold Corp.
Registered & Corporate Head Office:
                                 Osprey Gold Corp.
                                 210 Broadway, Suite 208
                                 Orangeville, ON
                                 Canada, L9W 5G4

                                    Telephone: 519-940-8117
                                    Facsimile: 519-940-8896




Registered Agent Office:
                                    Osprey Gold Corp.
                                    800 North Rainbow Blvd., Suite 208
                                    Las Vegas, NV
                                    USA 89107-1103

                                    Telephone: 519-940-8117
                                    Email: info@ospreygold.com




Field Office:
                                    Osprey Gold Corp.
                                    P.O. Box 68,
                                    Gogama, ON
                                    Canada, P0M 1W0




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Properties: Jerome
The main focus of Osprey Gold Corp’s extensive land package in the Swayze Greenstone Belt of Ontario is the
Jerome Mine. The mine is located in Osway and Huffman Townships, Porcupine Mining Division, District of
Sudbury in Ontario. The Jerome Mine produced an estimated 56,878 oz of gold (Au) and 15,104 oz of silver (Ag)
for the Mining Corporation of Canada during a two year period of production, which was suddenly aborted in 1943
because of manpower reduction due to the war effort. The mine was never reopened due to the difficulty in
obtaining financing during and immediately following WWII. A fire in the area destroyed most of the mine records,
including the loss of inter-level assay results, which had an impact on the classification of identified ore. Ore
reserves (J,E, Millard, 1989, Muscocho Exploration) indicate that there are a total of 577,495 tons of ore (all
categories) at a grade of 0.200 oz Au/ton or 115,713 oz Au (at a cut-off of 0.115 oz and undiluted). A 43-101
recently prepared by Frank P. Puskas (August 2004), states the current ore reserve as 583,068 tons of ore at a
grade of 0.203 oz Au/ton (i.e. 118,362 oz Au and 31,958 oz Ag) down to the 800 foot level.

During the fall of 2003, Osprey Gold Corp purchased 63 patented mining claims containing the Jerome Mine.
The area claims form an east-west trending rectangular block approximately 3.5 miles in length. Previous
property owners completed over 250,000 feet of diamond drilling, also completed a three-compartment vertical
shaft from surface to a depth of 1,100 feet, completed over 11,000 feet of lateral drifts (tunnels), and completed
numerous geophysical and trenching programs. In addition to the 63 patented mining claims mentioned above,
the Company acquired 4 unpatented mining claims in Huffman and Potier Townships, Porcupine Mining Division,
Ontario, that cover an area of approximately 1,600 acres across the porphyry structure. These claims were
previously identified by Frank P. Puskas as having commercial values of gold, silver and copper. No major work
has been undertaken on these claims as a result of the previous owners not having the proper financing. It
should be noted that following additional staking in Osway Township and the immediately adjacent Townships of
Huffman, Potier, Arbutus, Mallard, Esther and Benton, the Company has extended the strike length of its holdings
to an east-west rectangular block of 21 miles in length.

A multi-stage exploration and drilling program is currently underway in order to confirm inter-level continuity east
of the existing shaft, and thereby upgrade the classification of ore to the status of proven. In September 2004,
Phase 1 of the Jerome Mine drilling program (19 diamond drilling holes; 10,000 ft.) was completed and confirmed
the existence of 86,269 oz Au in the Main N Zone from the 100-ft level to the 700-ft level. Phase 2 (Oct. 2004-
Dec. 2004) will involve an additional 30,000 ft of diamond drilling as well as reserve assessments. Phase 3 is
expected to commence in January 2005.

Infrastructure

    •   A gravel road provides year round access to the Jerome Mine road and the Osprey Field Headquarters.
    •   An airstrip is in place approximately 0.5 km NE of Osprey’s Field Headquarters.
    •   Rail transport in close proximity.
    •   Permanent mining camp, which can accommodate up to 120 people has been acquired and is operating.
    •   Existing three-phase power generation on site.


Maps & Images

To view and print maps & images relating to the Jerome Property, please visit:
http://www.ospreygold.com/props_jerome.html.




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Properties: Lingman Lake

The Lingman Lake Property is located in Northern Ontario, 200 miles (322km) north of Red Lake, Ontario east of
the Manitoba border.

Previous exploration programs, including 105,539 feet of diamond drilling to a shallow vertical depth of only 400
feet on the Lingman Lake property indicated gold (Au) mineralization in five sub-parallel zones along the quartz-
feldspar porphyry contacts. These zones all host significant concentrations of Au-Ag and are referred to as the
North Zone, West Zone, South Zone, HW (Hanging Wall Zone) and the 11650N Zone.

D.S. McPhee (1989) reported 1,172,753 tons of defined resources with a weighted average grading of 0.20 oz
(i.e. 234,550 oz Au). Previous attempts to bring the property into production failed for reasons relating to project
funding and not economical ones. Osprey Gold Corp has an option agreement with Anaconda Gold who owns a
100% interest in 8 contiguous mining claims in the Lingman Lake area of Northern Ontario. Osprey has the right
to acquire a 100% interest in these claims by making certain cash and equity payments to Anaconda. Only upon
completion of these payments will Osprey exercise its right to purchase a 100% interest in Anaconda's Lingman
Lake mining claims. These 8 contiguous claims surround 4 patented mining claims already owned by Osprey.
These 8 claims, under option with Anaconda Gold Corp, total approximately 1,100 acres of land in the Red Lake
Mining Division, Ontario. In addition, the Company also acquired 14 mining claims to the west previously owned
by Kennecott Canada Inc. Additional claim staking has increased Osprey's land ownership to approximately
1,800 acres, with 31 mining claims.

In 1949, Lingman Lake Mines Ltd. executed a comprehensive surface and underground exploration program.
They sank a three-compartment, vertical shaft to the 430 foot level, and drifted along Level-1 (150 feet vertical
depth) for 771 feet, and Level-2 (275 feet vertical depth) for 1378 feet and Level-3 (400 feet vertical depth) for
1125 feet. In addition, 388 feet of cross-cutting and 207 feet of raising were developed on Level-1, 313 feet of
cross-cutting and 233 feet of raising were developed on Level-2, and 121 feet of cross-cutting was developed on
Level-3. The underground workings provided the necessary three dimensional expression of the Au
mineralization and afforded the ideal exposures needed for sampling and bulk sampling. The underground
sampling program included detailed sampling of the faces and the shipment of four bulk samples of 500 pounds
each to the Metallurgical Division of the Mines Branch in Ottawa. The bulk sample grades are considered in the
industry to be the more reliable and representative value. At Lingman Lake the bulk assayed higher than the
corresponding face samples. The specific assay results:

Level-1, east drift; face assay 0.44 opt AU; bulk sample graded 0.40 opt Au;
Level-1, west drift; face assay was 0.54 opt Au; bulk sample graded 0.54 opt Au;
Level-2, east drift; face assay was 0.28 opt Au; bulk sample graded 0.54 opt Au;

The composite (equal weights) of samples 1 to 4 yielded a face assay of 0.45 opt Au and the bulk sample graded
0.58 Opt Au. In a report for Antoro Resources Inc (by Clark, 1998), mention is made that the high grades were not
cut due to the numerous gold assays in excess of 1.0 ounces gold per ton in the underground sampling.

Metallurgical tests conducted by the government labs on samples 1 and 2 indicated gold recoveries of 95 to 96 %
via simple cyanidation. Sample 3, had an initial gold recovery of 64.8% with simple cyanidation due to a high
arsenic content. But with a combination of floatation and roasting of the concentrate followed by cyanidation the
gold recovery was 94%. No significant silver values were indicated (McPhee, 1989) although Wade reports(1983)
recoverable silver values which may be in the order of $2.50/ton have been neglected in the economic evaluation
due to a very limited data base caused by infrequent assaying for silver.

Lingman Lake Gold Mines Ltd. purchased a 300-tpd mill, equipment and power plant from God's Lake Gold
Mines Ltd. The mill (which requires erection) is owned by Osprey Gold Corp.




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As mentioned in the 1980 Canadian Energy, Mines and Resources Inventory Section (internal Report MRI 80/7)
the North and South zones contained a proven-indicated resource of 444,000 tons grading 0.41 oz/ton, Au (i.e.
171,118 oz at 94% recovery) above 400 feet and 1,300,000 tons grading 0.3 oz/ton, Au (i.e. 366,600 oz at 94%
recovery).


Infrastructure

    •   Access is gained by winter roads that have been previously established, or by air service.
    •   Several land and sea air bases are within one hour of flying time.
    •   A module base camp is on site ready for set up.
    •   Portable power stations already on site.
    •   Fuel supply already on site in excess of one million litres.

Note: Reserve figures and/or grades mentioned above are derived from historical information.


Maps & Images

To view and print maps & images relating to the Lingman Lake Property, please visit:
http://www.ospreygold.com/props_lingman.html.




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Properties: Progress Report and Future Plans
We will commence immediately to assess all our holdings that consist of mining properties, which were first
explored in the 1930s. Several of the properties within Osprey's holdings have enough exploration done on them
to indicate commercial values of gold, silver, copper, molybdenum and industrial products. Phase I of the
exploration program at the Jerome mine site, which included 10,000 feet of diamond drilling, was completed in
September 2004. Phase II of the program is now underway with 30,000 feet of diamond drilling planned over the
next three months.

Jerome Mine:

Phase I – Diamond Drilling (10,000 feet)
   • Completed 19 diamond drilling holes (DDH).

Phase II – Diamond Drilling (30,000 feet)
   • Further diamond drilling.
   • Bridge construction to allow proper access to the Jerome Mine site.
   • Government permitting by AMEC.

Phase III – Development Drilling (15,000 feet)
   • The Company will proceed with an in-fill drilling program.
   • Bulk sampling.
   • Metallurgical evaluations.
   • Additional permitting by AMEC.
   • Design of the ramp for underground mining.

Lingman Lake Property:

The Company is presently reviewing all of the data complied for the previous work done on the Lingman Lake
property over the past years. Osprey is expecting that this review will lead to a dedicated exploration and
development program in the early spring of 2005.




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Investors & Media: News
For a complete listing of our News Releases in a printable format, please visit:
http://www.ospreygold.com/news.html.




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Investors & Media: Reports & Presentations
For a complete listing of our reports & Presentations, please visit: http://www.ospreygold.com/reports.html.




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Investors & Media: Mining Glossary
ADIT
An entrance to a mine, generally a horizontal tunnel.

AG
Symbol for silver.

AMALGAMATION
The technique of using mercury to attract small particles of crushed gold and join with them in an amalgam, or
alloy. Gold may be recovered by distilling off the mercury.

ANOMALY/ANAMALOUS
A value higher or lower than the expected which may outline a zone of potential exploration interest but not
necessarily of economic significance.

ARRASTRA
A mill, consisting of one or more large stones dragged around on a circular bed, used to grind ore.

ASSAYING
The most promising hand samples and core are invariably submitted to an accredited laboratory for analysts. This
process, in which the precise chemical composition of the rock and it's mineralization cataloged, is called
assaying.

AU
Symbol for gold.

AURIFEROUS
Gold-bearing.

CHALCOPYRITE
A mineral whose composition is iron-copper-sulphide.

CHILEAN MILL
A machine, somewhat like the arrastra, in which heavy stone wheels turn about a central shaft and crush ore.

CLOSURE PLAN
The Closure Plan is written and implemented by a third party to ensure that all environmental concerns are met in
and around the mining area in accordance with the Ontario Ministry of the Environment. (for more information you
can go to AMEC (www.amec.com).

CORNISH PUMP
A type of pump developed in Cornwall, England, and commonly used in deep mines of the nineteenth century to
raise underground water.

CROSSCUT
A horizontal tunnel driven perpendicular to the main direction of a vein.

CU
Symbol for Copper




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DEPOSIT
Used in reference to an economic accumulation of minerals.

DIAMOND DRILLING
Just as one should not judge a book by its cover, surface sampling gives no definitive indication of how
tremendous, or how mediocre, a deposit lies underfoot. Thus, after surface sampling indicates a possible
concentration of valuable mineral, diamond drilling is undertaken. The only way to ascertain the quantity
(tonnage) and quality (grade) of a deposit to make a circular cut in the rock and extract the continuous cylindrical
core sample from the center of the cut. To do this, a special type of drill has been developed, with a rotating core
barrel that grinds down through the bedrock. At the end of the core barrel is a cylindrical bit studded with the
hardest of natural substances - diamonds. The size of the diamond drill core varies with the size of the machine
used which generally depends on hole depths and material being drilled. However, the common sizes of core are;

A - core diameter of 27.0 mm, hole diameter 48.0 mm;
B - core diameter of 36.5 mm, hole diameter 60.0 mm;
N - core diameter of 47.6 mm, hold diameter 75.5 mm;
H - core diameter of 63.5 mm, hole diameter 96.0 mm.

DRIFT
An underground tunnel which follows the course of a vein.

DYKE
A tabular body of igneous rock that cuts across the structure of adjacent rocks or massive rocks.

FAULT
A fracture or fracture zone along which there has been displacement of the two sides relative to one another.

FELSIC VOLCANIC ROCK
An igneous plutonic or volcanic rock consisting of the minerals feldspar and quartz.

FOOTWALL
The wall or rock on the underside of a stope.

GALLERY
A drift which has been enlarged into an underground room by the extraction of ore.

GANGUE
The worthless rock in a vein which holds valuable metals.

GEOCHEMICAL SAMPLING
The sampling of rocks, stream sediments and soils in order to locate abnormal concentrations of metallic
elements or minerals. The samples are usually assayed by various methods to determine the quantities of
elements or minerals in each sample.

GEOPHYSICAL SURVEY
The exploration of an area in which physical properties relating to geology are used. Geophysical methods
include seismic, magnetic, electromagnetic, gravity and induced polarization techniques.

GEOPHYSICS
The rapid expansion of technological knowledge following the 2nd World War has permitted great advances in
geophysics, the study of the physical properties of the earth, it's not a new science, as early as the 17th century,
Swedish prospectors were using magnetized bars to locate magnetic bodies of iron ore - but it developed rapidly
during the post war boom and computerization has meant the amount of data we can acquire and process on the
site has increased dramatically. In all geophysical surveys, what is sought is an anomaly - an exception to the
norm. A geophysical anomaly is an area where the earth has unusual physical properties.


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In a typical geophysical survey, a physical property like the gravitational or magnetic field is measured on a grid of
locations over the survey area. The value found at each grid position is plotted on a plan view of the property.
Lines are then drawn through points having equal value, in exactly the same manner that the iso bars are drawn
on a weather map or elevation contour on a relief map. This map of the geophysical data allows the prospector to
pick out areas with the geophysical characteristics that suggest there may be mineralization.

GEOLOGY
The science or study of rocks in the earth.

GM(S)
A symbol for gram(s), a measurement of weight.

G/T
Grams per tonne.

GRAB SAMPLE
One or more pieces of rock collected at random locations of a mineralized zone that, when analyzed, do not
represent a particular width nor necessarily the true mineral concentration.

GREENSTONE BELT
Generally, a regional linear area underlain predominately by volcanic, volcanoclastic and related plutonic rocks.

HANGING WALL
The wall or rock on the upper or topside of an ore deposit.

HEAD FRAME
A Head frame is a structure housing the shaft and hoist needed for underground mining.

HEAP LEACH
A process whereby valuable metals, usually gold and silver, are leached from a heap or a pad, of crushed ore, by
leaching solutions percolating down through the heap; these are collected from a sloping, impermeable liner
below the pad.

KIBBLE
Iron Cornish bucket used to hoist ore and miners to the surface.

LEACH PAD
A large, impermeable foundation or pad used as a base for ore during heap leaching.

LEVEL
Horizontal passageways or tunnels in the mine leading from shafts, established at regular intervals.

LODE
An ore deposit occurring in place within definite boundaries separating it from the adjoining rocks.

MAFIC ROCK
An igneous plutonic or volcanic rock essentially composed of minerals containing calcium, iron and magnesium
and little free quartz.

METAMORPHISM
A pronounced change in the constitution of rock effected by pressure, heat, and water that results in a more
compact and more highly crystalline condition.

MINERAL
A substance which may, or may not, be of economic value, that occurs naturally in the earth. It is homogenous,
has certain chemical makeup and usually appears in crystal or grain form.

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MINERALIZATION
A natural aggregate of one or more minerals.

MO
Symbol for Molybdenum.

OPEN-PIT MINING
Open-pit mine is the least expensive type of mining. The mining method of choice for situated close to surface
and with little overburden (low stripping ratio) large tonnage deposits.

ORE
A natural aggregate of one or more minerals which, at a specified time and place, may be mined and sold at a
profit, or from which some part may be profitably separated; A mixture of minerals and gangue from which at least
one of the minerals can be extracted at a profit. Ore is natural occurring material containing valuable minerals that
can be economically extracted.

OVERBURDEN
Any unconsolidated material that covers the solid rock of the earth.

Oz.
One troy ounce or 31.103 gms.

PAN
A shallow metal dish used for washing earth and stones to separate the gold.

PERMIT SYSTEM
The other wide spread system of land tenure is the Permit System. In this scheme, the government controls the
mineral rights and license’s the prospector to explore a certain area. This permit - also called the concession,
license, or contract area expires after a specified period; usually the prospector can renew the permit but must
drop part of the area it covers. This provision ensures that the holder works continuously on exploration in order
to know which part of his contract area to keep at the next renewal. The exploration permit may also specify
minimum amounts of work that must be done, or money that must be spent, on the area to keep the mineral
rights.

The claim system, because it allows prospectors to stake open ground without requiring applications or prior
agreements, rewards companies and individuals that move quickly to pick up mining rights. The permit system
requirement for a formal exploration agreement rewards large groups with the backing to carry out the plans.

Both the claim system and the permit system give the holder the exclusive right to explore and develop an area.
To keep that right, the holder is required to perform work; if the work is not done, the ground falls open for
someone else.

It is also usual that the holders of mining property must submit technical reports to the government as proof that
the exploration work has been done. The reports are opened to the public and become useful information for the
future prospectors.

PLACER
An alluvial or glacial deposit containing particles of gold or other valuable minerals.

PLUTONIC ROCK
An igneous rock that has formed beneath the surface of the earth by consolidation from magma.

PPM
Parts per million.


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PROVEN RESERVES
Proven reserves are reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches,
workings or drill holes: grade or and /or quality are computed from the results of detailed sampling and (b) the
sites for inspection, sampling and measurements are spaced so closely and the geologic character is so well
defined that size, shape, depth and mineral content of reserves are well-established.

PYRITE
A mineral whose composition is iron and sulphur.

QUARTZ
A mineral whose composition is silicon dioxide, a crystalline form of silica.

RETORT
A vessel in which substances are distilled or decomposed by heat.

ROCKER
A device for washing gold-bearing earth to recover the precious metal.

SEDIMENT
Material formed by deposition or precipitation of solids.

SHAFT
A vertical entrance to a mine cut downward from the surface.

SQUARE SET
A set of timbers used for support in underground mining.

STAMP MILL
A machine for crushing ore by the weight of constantly falling pieces of iron, stone, or wood. The action
approximates the pulverizing of material with a mortar and pestle.

STOPE
An excavation created by the removal of ore and consequent widening of the drift.

SULPHIDE
A mineral compound of sulphur with one or more metallic elements.

TAILINGS
Finely ground particles of ore deposited as waste after processing by a mill or smelter.

TONNE
2205 lbs. or 1.0 metric ton;

TRENCH
Elongated excavation across a prospective zone for sampling and mapping purposes.

TRENCHING
Trenching refers to prospecting in which subsurface strata are exposed by digging pits across the long
dimensions or strike of a lode.

VEIN
A zone or belt of mineralized rock lying within boundaries clearly separating it from neighbouring rock. An
opening, fissure, or crack in rock, containing mineralized material.




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VLF-EM
A very low frequency electromagnetic geophysical instrument used in exploration to measure variances of
conductivity in surficial (i.e. surface) sediments and bedrock.

VOLCANIC ROCK
An igneous rock that has been poured out or ejected at or near the earth's surface.

VOLCANOCLASTIC
A sedimentary rock derived from the erosion of volcanic rocks.

WASTE
Rock containing no ore but removed in the course of mining operations.

WHIM
A winding machine used for hoisting ore out of a shaft.

WINDLASS
A device, smaller than a whim, used to raise ore from a shaft.

WINZE
A vertical or inclined opening sunk from a point inside a mine.




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Investors & Media: Filings
More details regarding Osprey Gold Corp. can be found by reviewing the documents currently on file with the
SEC via their web site:




                                                     www.sec.gov




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Investors & Media: Corporate Services
Investor Relations
Please contact our Investor Relations department via the email address below for any additional information you
may require concerning Osprey Gold Corp.

Email: ir@ospreygold.com


Transfer Agent
OTC Stock Transfer
231 East, 2100 South
Salt Lake City, Utah
U.S. 84115

Phone: 801-485-5555
Fax: 801-486-0562


Accounting
Stephen Diamond
1200 Sheppard Ave. East, Suite 203
Toronto, Ontario M5K 2S5


Communications
Corporate communications are handled by RM Communications of Markham, Ontario, Canada. Should you
experience a problem with contacting Osprey Gold Corp. via email or any problems associated with the
navigation of this website please email them at the following:

RM Communications
Email: info@rmcommunications.net
Web: www.rmcommunications.net




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