TSX VENTURE EXCHANGE (April 28, 2008)

The S&P-TSX Venture Composite Index managed a small gain in the third week of April, closing the April 15-21 trading session up 12.16 points at 2,559.82.

The bears still led the bulls, with 209 juniors sinking to new share price lows while only 11 climbed to new highs.

Glass Earth Gold, an exploration company focused on New Zealand, grabbed top trader status. The small-cap company traded 20.7 million shares over the session to close down 4.5 at 12. The majority of those shares moved the day after St. Andrew Goldfields sold 18.3 million of its roughly 65 million shares in Glass Earth. St Andrews continues to hold a 30.5% interest in the junior.

Still hot following news of its imminent three-way merger with main board-listed New Gold and Metallica Resources, Peak Gold moved almost 20 million shares to close up a penny at 75. Since the merger was announced in March, Peak Gold has experienced slightly higher trading volumes than usual but has not seen a significant change in share price.

Another small junior that’s grabbed investors’ attention is Skyharbour Resources. In early April, the company hit volcanogenic massive sulphide (VMS) mineralization in its first drill hole at South Bay, in western Ontario. A 100- metre stepout hole hit VMS mineralization a few weeks later. The two announcements boosted the dime-stock by 150% and kept trades moving — Skyharbour traded 17.8 million shares over the period. Assay results from the discovery hole, out on the session’s last day, returned short mineralized intercepts.

Frontier Pacific Mining spent the session’s weekend responding to an unsolicited takeover offer from Eldorado Gold. Eldorado thinks Frontier’s Perama Hill gold project in northeastern Greece would be a good addition to its regional gold basket, which already includes the producing Kisladag mine and development- stage Efemcukuru gold project in Turkey. Frontier, which gained 19 and moved 11.2 million shares on the offer, is recommending shareholders reject the bid.

In a happier merger, Quinto Mining agreed to be taken out by Consolidated Thompson Iron Mines in a deal valued at $150 million. Quinto’s Peppler Lake and Lamelee iron ore deposits are within 40 km of Consolidated Thompson’s Bloom Lake project, expected to start producing 7 million tonnes of iron ore concentrate per year in the next few months. Quinto gained 40% over the session to close at $1.44 on 7.7 million shares traded.

Closing an $11.14-million financing brought Quaterra Resources down 90 over the session to close at $2.83. And Altai Resources traded almost 5 million shares to lose 34 and close the session at $1.14. The junior released interim financials and announced a 7 million share private placement.

TSX-V most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Glass Earth GEL 20665 0.16 0.12 0.12 -0.045
Peak Gold PIK 19988 0.76 0.73 0.75 + 0.01
Skyharbour Res SYH 17833 0.26 0.16 0.22 + 0.025
Dumont Nickel DNI 12118 0.09 0.05 0.07 + 0.02
Frontier Pacif FRP 11287 1.00 0.66 0.89 + 0.22
Lateegra Gold LRG 9921 0.42 0.19 0.30 + 0.125
Quinto Mng QU 7706 1.45 1.00 1.44 + 0.41
KWG Res KWG 7391 0.075 0.06 0.06 -0.01
Canasia Indust CAJ 5490 0.25 0.175 0.19 + 0.015
Spider Res SPQ 5361 0.115 0.09 0.10 -0.01
TSX-V greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Zappa Res ZPA 379 0.05 0.025 0.03 +200.0
Telkwa Gold TKW 330 0.13 0.09 0.13 + 85.7
Golden Share M GSH 187 0.23 0.135 0.21 + 75.0
Lateegra Gold LRG 9921 0.42 0.19 0.30 + 71.4
Goldsource Min GXS 73 0.31 0.22 0.30 + 66.6
Palladon Vent PLL 3964 1.10 0.63 0.98 + 58.0
Acrex Vent AKV 166 0.14 0.10 0.14 + 55.5
SNL Enterprise SNL 122 0.40 0.25 0.40 + 53.8
Menika Mining MML 1061 0.12 0.085 0.12 + 50.0
Cascadia Intl CJ 173 0.09 0.05 0.09 + 50.0
Skyline Gold SK 117 0.14 0.095 0.10 -44.4
Adroit Res ADT 45 0.19 0.16 0.16 -40.7
Gold World Res GDW 49 0.08 0.04 0.04 -38.4
Newcastle Mnls NCM 51 0.05 0.04 0.05 -37.5
Cornerstone Ca CGP 884 0.34 0.20 0.22 -37.1
Solid Res SRW 38 0.18 0.17 0.17 -37.0
Manson Creek MCK 43 0.12 0.08 0.10 -35.4
I-Minerals IMA 53 0.78 0.57 0.61 -35.1
Amseco Expl AEL 60 0.15 0.10 0.10 -33.3
NorthArrowMn NAR 79 0.19 0.155 0.16 -31.9
TSX-V greatest value change
WEEK
VOLUME CLOSE CHANGE
Pan Oce Exp POE 2412010 12.99 + 1.86
Callinan Mns CAA 1001279 2.67 + 0.67
Macarthur Mnl MMS 84600 1.81 + 0.58
Azimut Expl AZM 62680 3.39

+ 0.54
Anooraq Res ARQ 270673 3.92 + 0.53
New Millen Cap NML 4810237 2.29 + 0.45
Quinto Mng QU 7705614 1.44 + 0.41
Palladon Vent PLL 3964144 0.98 + 0.36
Hathor Expl HAT 4021609 2.64 + 0.35
Maudore Minls MAO 643098 2.14 + 0.35
Quaterra Res QTA 127137 2.83 -0.90
Seabridge Gold SEA 63567 21.88 -0.62
Clifton Star CFO 31143 2.30 -0.60
Bear Creek Mng BCM 116475 7.29 -0.48
Exeter Res XRC 1816283 3.98 -0.48
Whitemud Res WMK 30332 7.40 -0.45
Triex Minerals TXM 114765 1.32 -0.36
Noront Res NOT 1272400 5.10 -0.34
Altai Res ATI 4946349 1.14 -0.34
I-Minerals IMA 53050 0.61 -0.33
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