The Company aims to define further mineralisation on the Tenements and review potential new mineral based projects.In the short to medium term, the Company intends to undertake the following steps to achieve this objective:

    * Implement a detailed work program on the granted Tenements to be acquired  by the
      Company pursuant to the Binding Terms Sheets;

    * Review exploration data obtained from previous tenement holders; and

    * The Company consider and evaluate potential new projects.

On completion of the Offer, the Board believes the Company will have sufficient working capital to achieve these objectives.

BASIN COAL PROJECT

The Basin Thermal Coal Project is located 30km northwest of Princeton, British Columbia. CEC has the right to develop and mine the coal on licences covering 2,172 ha.

Mining at the Project began in 2002, but was ceased in 2006 when the provincial government abolished the use of coal power plants in British Colombia. Infrastructure such as roads, a coal washing process plant and crushers were left behind.

Resources have been upgraded from 19 million tonnes to 123.7 million tonnes as part of the ongoing feasibility study. The new resource estimate was undertaken by ResourceEye and is reported in accordance with NI43-101 and the JORC code. The previous NI43-101 compliant resource (2002) only considered a small portion of the main seam in an area of the property proposed for the existing open pit. The upgraded resource is a result of broadening the area of the resource study.

The report noted that the main coal seam thickness over the drilled section of the property measures between 17m and 34m with dips ranging from 28 to 45 degrees. A further coal seam of 7m was found below the main coal seam was also included in the new coal resource estimate. Coal from the deposit is classed as a high volatile bituminous C thermal coal with low sulphur content, ideal for energy use.

Currently, 1000m of the main coal seam is exposed.  The initial pit development was designed to be 1.3km long and was drill tested over a 2.5km strike length. Significant exploration upside has been identified both down dip and on the eastern flank of the Tulameen Basin.

Basin is the closest mainland coal project to the western Canadian ports and has good rail and road access with significant available capacity.  Existing infrastructure including logging roads, loading facilities and rail will significantly reduce the capital cost for the recommencement of operations.

With the Basin coal project having a 25 year Mining Permit in place, it is anticipated that mining can recommence in late 2010 with an initial production target between 500Ktpa and 1Mtpa.

The Jameson Board believes that the acquisition of the Basin Coal Mine Project, has the potential to develop into a considerable coal mining operation and should deliver significant upside for Jameson shareholders. (Read More)

BOARD & MANAGEMENT     

Mr David Prentice Grad.Dip.BA, MBA
Non-Executive Director

Mr John Holmes BSc, MAIG
Executive Director

Mr Jeff Bennett
Non-Executive Chairman

Mr Stephen Anastos
Non-Executive Director

Ms Suzie Foreman B.Comm (Hons) CA
Company Secretary

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Share Capital
Total Shares on issue at completion of offer           25,000,001
Unlisted Options; 20 Cents (expiring 30 November 2010)     3,500,000

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