NI 43-101 Geologic Report on Airport Property

(click on above link to view report .pdf file)

AIRPORT & AIRPORT EAST PROPERTY SUMMARY

Millstream has obtained an option to earn a 100% interest in 44 mining claims located in Falconbridge Township, Sudbury Mining Division, northern Ontario, Canada. The claims, known as the Airport Property, are located at the eastern edge of the Sudbury structure tied onto the east side of a large group of claims held by Falconbridge Ltd.

The Airport East Property is located in the Falconbridge and Street Townships, Sudbury Mining District, Northern Ontario, Canada. It consists of 127 mining claim units which abut the east boundary of the Company’s Airport Property. Millstream retains a 100% undivided interest in the Airport East Property.

Falconbridge's deep drill hole MAC-100A (as reported in their Nov. 28/01 press release) discovered significant mineralization on the main contact of the Sudbury igneous complex (SIC) and in the underlying footwall rocks that consist of brecciated granodiorite and Sudbury breccia. Located approximately 2 km southeast of Falconbridge's Nickel Rim deposit (having inferred resources of 1.6 million tonnes at 1.6 % nickel, 10.1% copper, 4.2 grams/tonne platinum, 3.5 grams/tonne palladium and 2.5 grams/tonne gold), and approximately 2.7 km north of the Sudbury airport. This discovery drill hole cut 7 zones of very high grade mineralization, 6 of which occurred in the footwall rocks. The deepest zone cut 6.15 m of 2.26% nickel, 17.49% copper, 19.57 grams/tonne platinum, 26.34 grams/tonne palladium and 20.49 grams/tonne gold. Falconbridge states "the data from both the contact and footwall zones provide encouraging indications for the potential of additional mineralization to the north, east and south of the hole".

Millstream's Airport Property in the Sudbury mining area lies approximately 4 km southeast of Falconbridge's MAC-100A, 2 km east of the Sudbury airport, and 1.2 km east of the past producing Norduna Mine. (SEE MAP)

Ernest Harrison, president of Millstream, and Phil Brown, consulting geologist to Millstream, attended in December, 2001 the Sudbury Geological Discussion Group meeting at which Falconbridge displayed some core sections of the hole MAC- 100A, and delivered a brief talk of their findings and results of hole MAC-100A. Phil Brown, BSc., A.R.S.M Mining Geologist, concludes the significant intercepts and high grades several hundred metres into the footwall (ie. outside the Sudbury Basin), the implication that the mineralization is open to the north, south and east (ie. further into the footwall), the assay results showing generally increasing values with distance into the footwall and the discovery being near an old producer (the Nickel Rim) play favourable to the conditions applicable to Millstream's Airport Property.

Millstream's Airport Property is located just outside the Sudbury Basin from the past producer, the Norduna Mine, and has several long zones of Sudbury breccia and Pseudotachylite which are host structures for ore in the footwall zones near the Nickel Rim and at other locations around the Sudbury Basin. Two major faults, the Airport Fault and the Norduna Fault, cross the property in a southeasterly direction and that copper-nickel-cobalt-PGM mineralization has been found associated with these faults. Phil Brown is recommending that Millstream undertake a concerted exploration effort utilizing deep penetrating geophysic EM surveys, follow up deep drilling and downhole geophysics in order to obtain a clearer and fuller picture of the Airport Property.

Geological mapping indicates that favourable horizons and structures continue eastward from the Airport Property into the "Airport East" claims.

Along with Falconbridge, it has been reported that Inco Ltd. at its northeast rim Victor property is exploring a rich nickel, copper and platinum deep deposit having gross in-situ value in excess of US $1,000 per ton. (As referred to by the Globe & Mail, January 25, 1994 and the Northern Miner, October 27, 1997)

Previous exploration on the Airport Property carried out by others resulted in the discovery of sulphide mineralization and low copper, nickel and gold values. The Property is reported to contain anomalies of Cu, Ni-PGM mineralization and areas of gold value. It has Geophysics established conductors with rock types which may host Sudbury type Ni-Cu and gold deposits.

The northwest portion of the Property hosts mafic rocks of the Stobie formation, including basalts, gabbros and norites. Areas of Sudbury Breccia with sulphide mineralization have been observed in the northern part of the Property. Gold geochemistry anomalies have been found in the southwest part of the Property and may represent the extension of the mineralization zones of the Falcon Gold Mine which abuts the Airport Property claims.

Results of sampling done by Millstream in the northern part of the property have returned the following assays:

1. Grab sample taken from the dump area of a past shallow test shaft :
   
   • .001 opt Au, .9% Cu, .009% Ni, <0.001 opt Pt, <0.001 opt Pd.
2. Samples from recently blasted trench ¼ mile south of the above referenced past shallow test shaft area :