TSX VENTURE EXCHANGE (May 05, 2008)

VANCOUVER — The S&P-TSX Venture Composite Index lost ground over the April 22-28 trading session, closing down 76.65 points at 2483.17. Daily trading volumes were up slightly from the third week of April, with an average of 91.5 million shares exchanging hands each day.

One need look no further than the week’s bears versus bulls ratio to confirm the downward turn. The junior board saw 274 companies fall to new share price lows, while only 13 rose to new highs.

Skyharbour Resources was the session’s top trader, moving 11.7 million shares to close down 9 at 14. The company resumed trading on the first day of the session after releasing assay results from its first hole at South Bay, a volcanogenic massive sulphide discovery in western Ontario. The loss followed gains of 140% in the three preceding weeks.

Despite two sets of promising results from its Midwest Northeast project Hathor Exploration lost 58 over the session to close at $2.06 on 8.5 million shares traded. Hathor recently discovered the Roughrider uranium zone at the property and this week added nickel, cobalt, molybdenum and copper to the project’s potential resources by releasing assay results from one drill hole that hit basement-hosted mineralization. However, a claim border dispute with Fission Energy is dragging on Hathor’s success.

Another trade-maker was Yukon Zinc, owner of the Wolverine silver-zinc project in the Yukon. Last week Yukon Zinc’s board recommended shareholders accept a takeover offer from London AIM-listed Griffin Mining that values Yukon Zinc shares at 20.6. On April 28 came news of a competing offer from two Chinese companies valuing the stock at 22. The Griffin offer prompted 9.8 million shares to change hands over the session, leaving the junior up 2 at 16; the session ended with the junior halted following news of the Chinese counter-bid.

Goldsource Mines leapt in value this week, gaining $2.30 or 767% to close at $2.60 on 6.5 million shares traded. The company was seeking diamondiferous kimberlites at its Border property in Saskatchewan when two drill cores intersected a coal seam 25 to 35 metres thick. Goldsource has since applied for coal permits for the property and is awaiting assay results. The junior’s exploration program is currently on hold because of spring breakup.

Without a speck of news Western Uranium gained 49 to close the session at $1.89. And after an almost-6 month halt, Archangel Diamond resumed trading and in one day climbed $1.10 to close at $1.60. During the halt Archangel settled a long-standing dispute with LUKoil over ownership of the 400-sq. km diamond-prospective Verkhotina license area in western Russia.

On news that LPD Holdings is acquiring a 30% stake in its Lake Giles project in Western Australia Macarthur Minerals gained 23 to close at $2.04. And on news of a $2.67- million loss over the 2007 fiscal year New Millenium Capital lost 39 to close at $1.90.

TSX-V most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Skyharbour Res	SYH	11704	0.19	0.12	0.14	-0.09
Peak Gold	PIK	10295	0.75	0.66	0.70	-0.05
Yukon Zinc	YZC	9842	0.18	0.16	0.16	+ 0.02
KWG Res	KWG	8782	0.07	0.06	0.07	0.00
Hathor Expl	HAT	8502	2.80	2.01	2.06	-0.58
Spider Res	SPQ	8064	0.10	0.09	0.10	0.00
Canasia Indust	CAJ	8032	0.24	0.19	0.22	+ 0.02
VMS Vent	VMS	6626	0.67	0.47	0.51	-0.05
Goldsource Min	GXS	6539	2.96	0.29	2.60	+ 2.30
Boxxer Gold	BXX	6294	0.09	0.06	0.06	-0.01

TSX-V greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Goldsource Min	GXS	6539	2.96	0.29	2.60	+766.6
Archangel Dia	AAD	140	2.00	1.25	1.60	+220.0
Nordic Diamond	NDL	36	0.13	0.09	0.10	+100.0
Freeport Res	FRI	44	0.26	0.21	0.26	+ 62.5
Cedar Mtn Expl	CED	61	0.40	0.29	0.40	+ 53.8
Mandalay Res	MLR	323	0.06	0.05	0.06	+ 50.0
Croesus Gold	CGN	164	0.28	0.20	0.28	+ 40.0
Mainstream Mnl	MJO	101	0.35	0.23	0.33	+ 37.5
Western Uran	WUC	364	1.95	1.32	1.85	+ 36.0
Yale Res	YLL	1637	0.25	0.17	0.23	+ 35.2
Boss Power	BPU	466	0.45	0.16	0.20	-61.5
Orsa Vent	ORN	102	0.18	0.14	0.18	-48.5
Glen Hawk Minl	GHM	486	0.08	0.04	0.06	-45.4
Carlin Gold	CGD	25	0.08	0.05	0.05	-44.4
Devonshire Res	DSH	87	0.36	0.29	0.29	-40.8
New Dimen Res	NDR	16	0.15	0.12	0.12	-40.0
Electra Gold	ELT	44	0.10	0.06	0.06	-40.0
Skyharbour Res	SYH	11704	0.19	0.12	0.14	-39.1
Fortune Valley	FVX	137	0.25	0.15	0.15	-37.5
Midasco Cap	MGC	753	0.10	0.05	0.05	-37.5

+ 1.10

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Goldsource Min	GXS	6539281	2.60	+ 2.30
Archangel Dia	AAD	139604	1.60
Western Uran	WUC	364376	1.85	+ 0.49
Aldridge Minls	AGM	60650	3.50	+ 0.40
Rocky Mtn Res	RKY	36400	1.90	+ 0.30
Energold Drill	EGD	791065	4.00	+ 0.25
Macarthur Mnl	MMS	69800	2.04	+ 0.23
AuEx Vent	XAU	154773	2.30	+ 0.22
Quaterra Res	QTA	158700	3.04	+ 0.21
Ringbolt Vent	RBV	987850	1.19	+ 0.19
Pan Oce Exp	POE	893878	11.55	-1.44
Keegan Res	KGN	1109684	3.75	-1.21
Bear Creek Mng	BCM	235353	6.40	-0.89
Anooraq Res	ARQ	127967	3.26	-0.66
Hathor Expl	HAT	8502029	2.06	-0.58
Noront Res	NOT	4656362	4.58	-0.52
New Millen Cap	NML	1458386	1.90	-0.39
Canplats Res	CPQ	837753	2.54	-0.38
Boss Power	BPU	465856	0.20	-0.32
Mansfld Mnrls	MDR	1850450	2.40	-0.30