Based on the materials from the company’s official web-site.

Magadan Region

Through its newly established subsidiary - Dukat Geological Exploration Company - the Company is conducting an ambitious and challenging exploration program focused on Dukat’s near and far flanks. In the third quarter, the Company received a license for the Dukat prospective area. The mineral resources of the area are 61 mln. oz. of silver (1900 tons) based on information in the licensing agreement.

Sverdlovsk Region

During the third quarter of 2006, the Company received an exploration license for Rudnichniy field and launched preparations for geological exploration at the site. Primary geological exploration (deep geochemical searches) are currently ongoing at the newly licensed Katasminskiy field in the Sverdlovsk Region.

Khabarovsk Territory

During the reported period, the Company completed geological exploration at Khakanjinskoye"s deep levels. The Company also conducted preliminary information gathering at the Khakarinskaya area.

In the summer of ‘06, the Company purchased 100% of Resource Albazino, including the operating license for the Albazino gold deposit. The Company carried out deep geochemical searches over a 10 sq. km. area to prepare for more extensive search operations in 2007. In addition, Snowden is in the process of preparing a JORC Code-compliant audit of the deposit.