LEMOYNE NORTH PROJECT

The Lemoyne North Property is one of three Eloro properties which are currently being optioned to Cambior Inc. pursuant to an option joint venture announced on June 8, 2006. The Lemoyne North Gold Copper Property consists of 77 Cells (231 claims totalling 3,927ha or 39 km²) and is located in NTS 33G, immediately north and adjacent to Virginia Mines’ Poste Lemoyne Property which hosts a mineral resource of 203 483 t @ 14.50 g/t Au (Source: Virginia Mines’ website www.virginia.qc.ca).

Property Location Map   Geological Compilation Map

Highlights of past exploration work conducted on the Lemoyne North Property by previous exploration companies include:

Sample type	Results
Rock sample	21.22 g/t Au, 38.3 g/t Ag, 4.04% Cu
Rock sample	65.42 g/t Au, 2.88% Cu
Rock sample	10.46 g/t Au, 3.1 g/t Ag
Rock sample	11.83 g/t Au, 2.4 g/t Ag

Source: MNRQ Files: (GM 56197 Mines Virginia 1996, GM 56161 Exploration Boréale 1998).

Eloro recently completed the initial phase of work its 100% owned Lemoyne North property. The reconnaissance work on the property consisted initially of a regional Beep Mat survey conducted during the month of August 2005. This survey was subsequently followed up with investigative prospecting and mapping of selected mineralized gold and copper showings found by previous operators.

The Company's exploratory work has outlined the presence of bands of felsic volcanic units along with iron formations throughout the Lemoyne North property. Mineralization encountered within the recently collected grab samples consists of abundant pyrite and pyhrrotite and trace amounts of chalcopyrite, sphalerite and arsenopyrite.

On October 31, 2005 Virginia Mines Inc. announced the signing of an agreement with Globestar Mining Corporation pursuant to which Virginia acquired Globestar's 50% interest in the Poste Lemoyne property against the issuance of 160,000 shares of Virginia to Globestar. Globestar retains a 1% Net Smelter Returns (N.S.R.). Virginia has been granted a buyback right to purchase half (0.5%) N.S.R. for a total payment of CDN$500,000 (further details, see Virginia's website www.virginia.qc.ca).

The Lemoyne North Property is situated near the Trans Taiga highway and is readily accessible for winter diamond drilling.