US Spring Valley Project

Boddington Corp is London’s and Singapore’s only Main gold company and has established itself in the global gold mining industry. Primary concessions are in worldwide and collectively hold 5.5 million ounces of gold resources; Future expansion will be achieved through further acquisitions and organic growth.

Concessions operation Boddington Corp., are in US, , Boddington is the investor of Waterton Global Resource Management (Waterton is a leading mining-focused private equity firm dedicated to developing high quality precious and base metals projects located in stable jurisdictions ), subsidiaries of Waterton Precious Metals Fund II Cayman, LP. they have purchased of Barrick Gold Corporation’s  70 percent interest in the Spring Valley project and 100 percent of the Ruby Hill mine for a total of $110 million in cash, to develop  Spring Valley gold project, Pershing County, Nevada.

Welcome to the Spring Valley gold project, Nevada US

The Spring Valley property is located in the Humboldt Range, a north-south oriented, up-thrown fault block (horst) bounded on the west by the Humboldt River valley and on the east by Buena Vista Valley. Quaternary alluvial deposits fill the intermontane basins and alluvial valleys.

The bedrock geology of the Humboldt range within 20 miles of the Spring Valley property consists of Triassic shales and carbonate rocks, a thick sequence of Permo-Triassic intermediate to felsic volcanic rocks, and a north-south trending belt of Tertiary volcanic rocks. Triassic leucogranite and Cretaceous granodiorite locally intrude the Permo-Triassic volcanic package. The known Spring Valley mineral system is beneath an intermontane basin filled with post-mineral Quaternary alluvial deposits, thereby masking the bedrock geology immediately overlying or containing the mineralization. The Spring Valley property is accessed by Nevada State Route (SR) 50 (also known as Lovelock-Unionville Road), which extends eastward from US Interstate 80 at exit 119. SR 50 also serves as the main access to the Rochester Mine until a turnoff at Spring Valley Pass. Once in Spring Valley, access to the various parts of the Property is by dirt road. Alternatively, access is possible from the Buena Vista Valley to the east through Spring Valley Canyon on SR 50.

The nearest town to the Property is Lovelock, Nevada, which is situated along US Interstate 80 and hosts a population of 1,895 (Census 2012 data). The nearest city is Reno, Nevada, approximately 120 miles to the southwest, which hosts a population of 231,027 (Census 2012 data).

The climate in the Spring Valley area is typical for northwestern Nevada. Average monthly high temperatures range from 82 to 94° F in the summer and 42° to 55° F in the winter. Yearly rainfall averages approximately 6 inches with nearly uniform distribution from October through June. July, August, and September are typically hot and dry months; December, January, and February receive the bulk of the snowfall.

The development of Spring Valley fulfills goal the project to a production decision of Boddington through their partner, Waterton Precious Metals has the capability to develop Spring Valley into a producing mine.

The parties have settled on terms granting Waterton Precious Metals, the exclusive right to earn a 60% interest in the project by spending US$30,000,000 on the property (US$4,000,000 guaranteed in the first year) over five years. Waterton Precious Metals, may increase its interest by 10% (70% total) by spending an additional US$8,000,000 in the year immediately after vesting at 60%. At Midway´s election,

Spring Valley is a porphyry/diatreme hosted gold system beneath pediment gravels. Updated inferred resource of 87.75 million tons grading 0.021 ounce per ton gold (opt) for a total of 1,835,615 ounces using a cut-off grade of 0.006 opt gold.

Spring Valley is an open-pit, oxide heap leach gold project located 75 miles west of Cortez in Nevada. It offers a highly prospective land package with significant exploration upside and potential. The property spans 11,022 gross acres on 618 contiguous unpatented lode and placer mining claims and 1,701 gross acres of fee lands.