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  • Undervalued - Market is Noticing

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    SUMMARY REPORT

    Canadian Gold Exploration


    ACREX VENTURES LTD. (AKV.v)               Last Close -
    .075


    SHARES ISSUED                 
    40,660,447                           ~20% Insider Ownership


    FULLY DILUTED                  
    44,310,447


    PROPERTIES                      
    Spanish Mountain

                                               Cariboo Region, British Columbia

                                               1,468 hectares

     

    CASH POSITION                No debt

                                               $1.65 million in cash =
    .04 per share


    RECENT EVENTS               
    Spanish Mountain Gold Ltd. (SPA.v), formerly Skygold Ventures Ltd. drill results


                                               Main Zone (gold findings):

                                               (85m of 2.12 g/t, including 41m of 3.54 g/t, 1.5m of 46.8 g/t; 11.5m of 1.42g/t; 
                                               22.25m of 1.16 g/t; 12.5m of 3.78 g/t; 47.5m of 1.24 g/t, including 13.5 of 2.38 g/t)


                                               Step-Out Drilling (100m to 300m NW from Main Zone towards AKV’s property)

                                               It was conclusively demonstrated that gold mineralization extends into this new area

                                               (57m of 0.83 g/t, including 28.5m of 1.06 g/t; 26.5m of 1.07 g/t)

     

    ANTICIPATED NEAR           Additional drill results from SPA (24 Main Zone holes; 6 step-out holes to NW)

    TERM CATALYSTS              Drill program announcement from AKV to commence in Spring/Summer 2010

                                               Preliminary Economic Assessment of area by SPA to show economic viability as a mine

                                               Acquisition of new property and subsequent drilling

     

    COMMENTS                       At current share price AKV’s two Spanish Mountain properties are 
                                               grossly undervalued at only $1.4 million.  These properties are especially 
                                               valuable because of SPA’s desire to make a mine out of the area in the near 
                                               term.  In addition, no premium is being given for the potential upside that 
                                               could be seen from the acquisition of a meaningful new property.

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