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REPORT

on the

IRELAND PROPERTY

Yellow Pine Mining DistrictClark CountyNevada,
U.S.A.

Approximate Co-ordinates35° 46'00" North Latitude115°
22'25" West Longitude

for

MERRITT VENTURES CORP.

Vancouver, British Columbia

by

W.G. TIMMINS, P.Eng.

February 1, 2005

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TABLE OF CONTENTS

|                                                 | Page
|------------------------------------------------ | ----
|                                                 |     
|SUMMARY                                          | 1   
|                                                 |     
|INTRODUCTION                                     | 2   
|                                                 |     
|PROPERTY                                         | 2   
|                                                 |     
|LOCATION AND ACCESS                              | 5   
|                                                 |     
|CLIMATE AND VEGETATION                           | 5   
|                                                 |     
|PHYSIOGRAPHY                                     | 5   
|                                                 |     
|HISTORY                                          | 6   
|                                                 |     
|REGIONAL GEOLOGY                                 | 7   
|                                                 |     
|LOCAL GEOLOGY AND MINERALIZATION                 | 10  
|                                                 |     
|CONCLUSIONS                                      | 11  
|                                                 |     
|RECOMMENDATIONS                                  | 11  
|                                                 |     
|ESTIMATED COSTS OF PROGRAM
      IN U.S. DOLLARS | 12  
|                                                 |     
|STATEMENT OF QUALIFICATIONS                      | 13  
|                                                 |     
|REFERENCES                                       | 14  

FIGURES

|Figure 1 | Location Map                    | 3
|-------- | ------------------------------- | -
|         |                                 |  
|Figure 2 | Claim Map With
      Topography | 4
|         |                                 |  
|Figure 3 | Regional Geological
      Map   | 8

APPENDICES

|Appendix I | Geochemical Analyses | Back
|---------- | -------------------- | ----

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SUMMARY

Merritt Ventures Corp. has acquired by purchase agreement the
Ireland property consisting of one unpatented lode mineral claim located in the
Yellow Pine Mining District, Clark County, Nevada, U.S.A.

The region is known for its historic production of copper,
lead, zinc, silver and gold.

The claim is underlain by the Precambrian to Devonian
Goodsprings Formation dolomite.

Mineralization on the property, which encompasses the Ireland
claim, consists mainly of galena, malachite and oxides of zinc.

A four-phased program of exploration consisting of geological
mapping, electromagnetic surveying, trenching and rock sampling and geological
mapping, followed by diamond drilling, is recommended at a total cost of
$115,200.

|Respectfully submitted,
|-----------------------
|                       
|"W.G. Timmins"         
|W.G. Timmins, P.Eng.   

February 1, 2005

1.

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INTRODUCTION

The author was retained by Merritt Ventures Corp. to review all
available data on the Ireland property, provide an assessment and, if warranted,
recommend a program of exploration.

The author has spent considerable time in the area over a
period of years visiting numerous mineral properties in the immediate area
during the 1980's and in 2004 and a personal examination of the property in
March 1982 and during August 2004.

PROPERTY

The property consists of one unpatented mineral lode claim
known as the Ireland claim situated in the Yellow Pine Mining District, Clark
County, Nevada, Section 24 of Township 25 south, Range 58 east. The location
notices are recorded at the office of the Clark County recorder in Las Vegas,
Nevada in File 078, Book No. 20040922, Page 0032, Instr. 0005256.

Any legal aspects pertaining to these claims is beyond the
scope of this report.

2.

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Figure 1



3.

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Figure 2



4.

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LOCATION AND ACCESS

Approximate Co-ordinates: 35° 46'00"N Latitude; 115° 22'25"W
Longitude.

The property is located 30 miles southwest of Las Vegas, Nevada
and about four miles south of Goodsprings on the eastern slopes of the Spring
Mountains.

Access to the area is provided by means of Interstate Highway
15 from Las Vegas southwest to Jean. Goodsprings is accessible by paved road
from Jean, a distance of seven miles to the northwest.

The property may then be reached by travelling south on gravel
road for about five miles to the workings of the property.

CLIMATE AND VEGETATION

The area is typically desert with relatively high temperatures,
low precipitation, and vegetation consisting mainly of desert shrubs and cactus.
Sources of water would be available from valley wells.

PHYSIOGRAPHY

The property lies in a region of moderate to steep hills with
local incised narrow canyons. Elevations locally range from 3200 feet to 4300
feet A.S.L. The old workings were excavated on a low hill protruding from the
desert at elevations of approximately 3560 feet on the eastern slope of the
Spring Mountains.

5.

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HISTORY

The history of the area dates back to 1856 following investigation of lead ore by Mormon missionaries. The first ore was smelted in 1857 and a mill was built north of Goodsprings in 1898.

The completion of the San Pedro, Los Angeles and Salt Lake railroad in 1905 and recognition of oxidized zinc minerals in the ore in 1906 stimulated development of the mines and the region has been subject to intermittent activity up to 1964,
particularly during the World War I and II years.

The Yellow Pine District has been mined primarily for lead-zinc-silver, however, an estimated 91,000 ounces of gold has also been recovered.

The area has been mainly dormant since 1964.

It is not known when the Ireland claim was originally staked, however it was likely during the late 1800's. Subsequently, eight shafts and tunnels were excavated on the property.

The claim was again staked in 1982 and re-staked in September of 2004. No recent work has been recorded to the writer's knowledge.

6.

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REGIONAL GEOLOGY

Paleozoic Stratigraphic SuccessionIn the Vicinity
ofThe Goodsprings District

|                              |  | Thickness               | 
|----------------------------- |  | ----------------------- | 
|                              |  | (feet)                  | 
|                              |  |                         | 
|Permian:                      |  |                         | 
|Red beds                      |  | 1,000
      - 1,100     | 
|                              |  |                         | 
|Mississippian to Permian:     |  |                         | 
|Bird Spring Formation         |  | 2,500+                  | 
|                              |  |                         | 
|Local erosional unconformity  |  |                         | 
|                              |  |                         | 
|Mississippian:                |  |                         | 
|Monte Cristo Limestone:       |  |                         | 
|Yellowpine Limestone Member   |  | 60     -
          120  | 
|Arrowhead Limestone Member    |  | 10
          -     20   | 
|Bullion Dolomite Member       |  | 85     -
          300  | 
|Anchor Limestone Member       |  | 65
          -     400  | 
|Dawn Limestone Member         |  | 50     -
          399  | 
|                              |  |                         | 
|Devonian:                     |  |                         | 
|Sultan Limestone:             |  |                         | 
|Crystal Pass Limestone Member |  | 150     -
          260 | 
|Valentine Limestone Member    |  | 75
          -     380  | 
|Ironside Dolomite Member      |  | 5 -     125             | 
|                              |  |                         | 
|Cambrian to Devonian(?):      |  |                         | 
|Goodsprings Dolomite          |  | 2,450+                  | 

The Spring Mountain Range consists mainly of Paleozoic
sediments which have undergone intense folding accompanied by faulting. The
Yellow Pine District is underlain by a series of carboniferous sediments
consisting of limestones, pure crystalline limestone, and dolomite with
occasional intercalated beds of fine-grained sandstone. These strata have a
general

7.

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west to southwest dip of from 15 to 45 degrees occasionally
disturbed by local folds. Igneous rocks are scarce and are represented chiefly
by quartz-monzonite porphyry dikes and sills.

8.

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Figure 3



9.

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LOCAL GEOLOGY AND MINERALIZATION

The property is underlain by dolomite belonging to the Cambrian
to Devonian Goodsprings Formation. Lenses containing lead, copper and zinc are
associated with fracturing and brecciation in the dolomite.

D.F. Hewett (1931) reports that several cars of copper-bearing
lead ore were mined. Mineralization would consist of malachite, galena and
oxides of zinc.

A sample collected from the mine dump by the writer in March
1982 assayed 3.34 oz/ton silver, 9.36% lead and 0.83% zinc.

Three samples collected from the portal areas and mine dump by
Eventyr Holdings Ltd. during January 2001, assayed as follows: (see Assay
Certificate at rear).

SAMPLE
      NO.
    CU%
    CU
      PPM
    PB%
    PB
      PPM
    AG
      OZ/TON
    ZN%
    ZN
      PPM
    AU
      PPB
    AU
      OZ/TONIreland 1
    0.34
    3379
    0.82
    8226
    0.35
    0.21
    2079
    524
    0.017Ireland 2
    Tr
    13
    Tr
    33
    Tr
    0.01
    110
    67
    TrIreland 3
    0.37
    3687
    2.06
    20,639
    3.06
    0.04
    427
    11,673
    0.37


It should be noted that gold values up to 0.37 ounces per ton
were obtained in the samples collected in 2001 thus indicating the potential for
concentrations of gold mineralization.

An additional seven samples collected from dump areas by
Multi-Metal Mining Corp. during October 2004 ranged from trace to 0.609% copper,
trace to 7.32% lead, traces of zinc, trace to approximately 12 oz/ton silver,
and trace to 0.03 oz/ton gold (Assay Certificate at rear).

10.

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CONCLUSIONS

The Ireland property is situated in an historically well-known mineralized region with a number of old mines boasting of past production.

The property is known to host lenses containing copper, lead, zinc, and silver mineralization and may have potential for gold occurrences as noted from the more recent assay results and from historical data of the area.

It is the writer's opinion that an exploration program to test for potential continuity of mineralization or a series of mineralized lenses of sufficient size and grade for possible exploitation exists on the Ireland property.

RECOMMENDATIONS

A four-phased program of exploration consisting of a VLF electromagnetic survey to trace fracture and breccia zones and their extensions, a surface trenching and sampling program in areas of exposed mineralization and geological mapping program on
both surface and underground followed by a diamond drilling program is recommended for the property.

11.

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ESTIMATED COSTS OF PROGRAM (U.S. FUNDS)

|PHASE I   |                                                    |   | US
      DOLLARS |        
|--------- | -------------------------------------------------- | - | ---------------- | -------
|          |                                                    |   |                  |        
|1.        | VLF-EM Survey and Report and
      Maps            | $ | 4,000            |        
|2.        | Mobilization and Demobilization                    |   | 500              |        
|3.        | Food, Lodging and Local
      Transport            |   | 1,000            |        
|          |                                                    |   |                  |        
|PHASE II  |                                                    |   |                  |        
|          |                                                    |   |                  |        
|1.        | Surface Trenching and Sampling                     | $ | 5,500            |        
|2.        | Assays and Report                                  |   | 2,000            |        
|3.        | Food, Lodging and Local
      Transport            |   | 1,000            |        
|          |                                                    |   |                  |        
|PHASE III |                                                    |   |                  |        
|          |                                                    |   |                  |        
|1.        | Geological Mapping - Surface
      and Underground | $ | 7,000            |        
|2.        | Food, Lodging and Local Transport                  |   | 1,000            |        
|3.        | Reports, Maps, etc.                                |   | 2,000            |        
|          |                                                    |   |                  |        
|PHASE IV  |                                                    |   |                  |        
|          |                                                    |   |                  |        
|1.        | Diamond Drilling                                   |   |                  |        
|          | Estimated: 1500 feet @
      $35/ft                | $ | 52,500           |        
|2.        | Mobilization and demobilization                    |   | 10,000           |        
|3.        | Reports, Assays, etc.                              |   | 8,000            |        
|4.        | Food and Lodging                                   |   | 6,000            |        
|5.        | Transportation                                     |   | 700              |        
|6.        | Engineering and Supervision                        |   | 6,000            |        
|7.        | Contingency                                        |   | 8,000            |        
|          |                                                    |   |                  |        
|          |                                                    |   |                  |        
|          | TOTAL COST ALL
      PHASES                        |   | **$**            | 115,200

|                 | Respectfully submitted,
|---------------- | -----------------------
|                 |                        
|                 | "W.G. Timmins"         
|February 1, 2005 | W.G. Timmins, P.Eng.   

12.

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STATEMENT OF QUALIFICATIONS

I, William G. Timmins, of the City of Vancouver, in the
Province of British Columbia, do hereby certify that:

|1. | I am a consulting geologist, with offices at 1016 - 470
      Granville Street, Vancouver, B.C. V6C 1V5.                                                                                                                                                                                                                                                                                                                                                                                               
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|2. | I have been practising my profession for the past 40
      years since university, having been engaged in the evaluation, exploration
      and development of mineral properties throughout Canada, the United
      States, Latin and South America, Australia and New Zealand.                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|3. | I am a graduate of the Provincial Institute of Mining,
      Haileybury, Ontario (1956) and attended Michigan Technological University
      1962-1965, Geology and was licensed by the Professional Engineers
      Association of B.C. (geological discipline) in 1969.                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|4. | This report titled "Geological Report on the Ireland
      Property for Merritt Ventures Corp." is based on published and private
      reports, maps and data provided by Multi-Metal Mining Corp. and in the
      public domain, and personal visits to the Ireland property from 1982 to
      2004. The author has reviewed relevant data prepared by reputable
      qualified persons and is responsible for his own geological analysis,
      conclusions and recommended exploration program.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|5. | I have no interest, nor do I expect to receive any
      interest in the properties or securities of Merritt Ventures Corp. and am
      independent of the issuer.                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6. | I consent to the filing of this report with any stock
      exchange and other regulatory authority, and any publication by them,
      including electronic publication in the company's files or their websites
      accessible by the public.                                                                                                                                                                                                                                                      

|                 | "W.G. Timmins"      
|---------------- | --------------------
|February 1, 2005 | W.G. Timmins, P.Eng.

13.

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REFERENCES

|Hewett, D.F.  | Geology and Ore Deposits of the Goodsprings
      Quadrangle, Nevada, Paper 162, U.S. Department of the Interior, Geological
      Survey.
|------------- | ------------------------------------------------------------------------------------------------------------------------------------------
|
|              |                                                                                                                                           
|              | Nevada Bureau of Mines and Geology, Bulletin 62, Geology and
      Mineral Deposits of Clark County, Nevada, 1965                         
|              |                                                                                                                                           
|Timmins, W.G. | Geological Report on the Whale Mine for
      Celebrity Mining, November, 1982, and for Tao Minerals Ltd., October, 2004                  
|

14.

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Appendix I

GEOCHEMICAL ANALYSIS

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