Document:

fsb2ex10iii_goldvale.htm

    SUMMARY
      GEOLOGY, GEOPHYSICS REPORT

     

    GOLDVALE
      PROPERTY

     

    OMINECA
      MINING DIVISION

    BRITISH
      COLUMBIA

    CANADA

     

    NTS
      94D/9, 10

    Latitude
      56° 40’ N

    Longitude
      126° 34’ W

     

     

    Owner:

     

    Goldvale
      Resources Inc.

     

    

     

    By:

     

    Warren
      Robb, P.Geo.

     

    September,
      2006

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Table
      of Contents

     

    
      
        	TABLE
                OF CONTENTS	
                2

              
	 	 	 
	LIST
                OF FIGURES	
                2

              
	 	 	 
	
                1

              	
                SUMMARY

              	
                3

              
	 	 	 
	
                2

              	
                INTRODUCTION
                  AND DISCLAIMER

              	
                4

              
	 	 	 
	
                3

              	
                LOCATION
                  AND ACCESS

              	
                5

              
	 	 	 
	
                4

              	
                CLAIM
                  DATA

              	
                7

              
	 	 	 
	
                5

              	
                EXPLORATION
                  HISTORY

              	
                9

              
	 	 	 
	
                6

              	
                GEOLOGICAL
                  SETTING

              	
                11

              
	 	 	 
	
                7

              	
                INDUCED
                  POLARIZATION SURVEY

              	
                11

              
	 	 	 
	
                8

              	
                CONCLUSIONS

              	
                13

              
	 	 	 
	
                9

              	
                RECOMMENDATIONS
                  AND BUDGETS

              	
                13

              
	 	 	 
	
                10

              	
                REFERENCES

              	
                14

              
	 	 	 
	
                11

              	
                STATEMENT
                  OF QUALIFICATIONS

              	
                15

              
	 	 	 

      

    

     

     

    List
      of Figures

     

    
      
        	
                Figure
                  1.

              	
                Location
                  Map

              	
                6

              
	 	 	 
	
                Figure
                  2.

              	
                Claim
                  Map

              	
                8

              
	 	 	 
	
                Figure
                  3.

              	
                Regional
                  Geology

              	
                10

              
	 	 	 
	
                Figure
                  4.

              	
                Grid
                  and I.P Geophysics Targets

              	
                12

              

      

    

     

    
       

    

    
      
        
        

      

      
        Page
          2

        
          

        

      

      
        
        

      

    

     

    1.   Summary

    
       

      The
        Goldvale Property is located in the Southern Toodoggone mining camp in the
        Omineca Mining Division in north central British Columbia.  The
        property is composed of 2 mineral clams totalling 870.575 hectares owned
        100% by
        Steve Merry, director of and held in trust for Goldvale Resources
        Inc.  It occurs on NTS map sheets 94D/9, 10.

       

      This
        area, located about 35 kilometres southeast of the Kemess South Deposit in
        the
        Kemess Porphyry District, is a favourable geological environment for hosting
        precious and base metal deposits.

       

      A
        1995
        exploration program on the Goldvale property included preparing 37.4 line
        kilometres of cut line and Induced Polarization (IP) survey grid and completing
        an IP survey on this grid.

       

      The
        IP
        survey outlined two main zones of increased chargeability that may represent
        good porphyry style targets for further exploration by drilling.

       

      Additional
        IP surveying is recommended to close off the anomalies that remain
        open.  Given the wide spacing of grid lines on this initial survey,
        fill-in lines are also recommended to further define the anomalies prior
        to
        drilling.  Geological mapping and prospecting should be initiated
        first at a cost of  $19,000.  Phase II of grid I.P.
        geophysics work is budgeted at $104,000.

       

    

     

     

    
      
        
        

      

      
        Page
          3

        
          

        

      

      
        
        

      

    

     

    2.   Introduction
      and Disclaimer

     

    The
      Goldvale Property is located in the Southern Toodoggone mining camp in the
      Omineca Mining Division in north central British Columbia.  The
      property is composed of 2 mineral claims totalling 870.575 hectares owned 100%
      for Goldvale Resources Inc.  This area is a favourable geological
      environment for hosting precious and base metal deposits.

     

    Previous
      operators in a 1995 exploration program on the Goldvale property prepared 37.4
      line kilometres of cut line and Induced Polarization (IP) survey grid and
      completed an IP survey on this grid.  The favourable results of this
      work prompted the most recent acquisition by Richard Simpson, prospector, and
      the subsequent purchase by Goldvale Resources Inc. of a 100% interest in the
      claims.

     

    This
      report was prepared at the request of Steve Merry, President of Goldvale
      Resources Inc., and summarizes primarily the findings of the 1995 programme
      and
      utilizes these as a guide for future exploration, recommendations, and
      budgets.

     

     

    
      
        
        

      

      
        Page
          4

        
          

        

      

      
        
        

      

    

     

     

    3.   Location
      and Access

     

    The
      Goldvale Property is located in north central British Columbia in the Southern
      Toodoggone mining camp at latitude 56° 40’ north, longitude 126° 34’
west.  The property lies in the Omineca Mining Division, approximately
      200 km north northeast of Smithers and 400 km northwest of Price George (Figure
      1).

     

    Access
      to
      the property is by the Omineca Resource Access Road (ORAR) and the McConnell
      Creek Road (MCR).  The ORAR traverses the southwest edge of the
      property, while the MCR branches off the ORAR at about kilometre 420 and
      traverses northeast across the centre of the property.  Access by
      fixing wing aircraft is facilitated by the Moose Valley and Sturdee Valley
      airstrips, both located adjacent to the ORAR approximately 2 and 40 km northwest
      of the property, respectively.  These airstrips can be used by
      commuter-type aircraft based in Smithers and Vancouver.

     

    Elevations
      range from 1,200 metres to 1,900 metres above mean sea level.  The
      treeline is at about 1,600 metres with alpine meadows extending
      beyond.

     

    The
      climate is generally moderate although highly
      changeable.  Temperatures range from +30° to -35°
Celsius.  Precipitation is usually moderate and more or less uniformly
      distributed throughout the year.  With appropriate planning, drilling
      and other exploration activities could be carried out year round.

     

    The
      topography is moderate to steep.

     

     

    
      
        
        

      

      
        Page
          5

        
          

        

      

      
        
        

      

    

     

     

    

     

     

    FIGURE
      1.  LOCATION MAP

     

    
      
        
        

      

      
        Page
          6

        
          

        

      

      
        
        

      

    

     

    4.   Claim
      Data

     

    The
      Goldvale Property comprises 2 mineral claims totalling 870.575
      hectares.  These claims are owned 100% in trust for Goldvale Resources
      Inc. and are situated in the Omineca Mining Division on NTS map sheets 94D/9,
      10
      (Figure 2).  Claim data is as follows:

     

    
      	
              Claim
                Name

            	
              Tenure
                #

            	
              Hectares

            	
              Expiry
                Date

            
	
              Goldvale
                1

            	
              530141

            	
              444.150

            	
              March
                17, 2007

            
	
              Coppervale
                1

            	
              530313

            	
              426.425

            	
              March
                20, 2007

            

    

    

     

    These
      claims were staked using the Internet based British Columbia Mineral Titles
      Online system.  In British Columbia, for the first 2 years, $4.00 per
      hectare of assessment work or cash in lieu is required to maintain claims in
      good standing, thereafter it goes to $8.00 per hectare of work or cash in lieu,
      annually.

     

     

    
      
        
        

      

      
        Page
          7

        
          

        

      

      
        
        

      

    

     

    

     

     

    FIGURE
      2.  CLAIM MAP

     

    
      
        
        

      

      
        Page
          8

        
          

        

      

      
        
        

      

    

     

    5.   Exploration
      History

     

    Placer
      gold was discovered in 1889 at the mouth of McConnell Creek, located about
      18
      kilometres north of the property.  This led to a brief gold rush in
      1907.

     

    A
      gold-silver-copper prospect was discovered at the source of Menard Creek in
      the
      1940s and staked as the Marmot property in 1966 (Church, 1973).  This
      property, immediately north of the Goldvale Property, was explored by a number
      of mining companies including Falconbridge Minerals who last explored the
      property in the 1980s.

     

    In
      1968,
      Kennco Explorations Limited discovered the Chapelle epithermal gold-silver
      vein
      deposit, located roughly 70 kilometres northwest of the property, while
      searching for copper-molybdenum deposits in the Toodoggone
      District.  This deposit was mined as the Baker Mine by Dupont of
      Canada Ltd. between 1980 and 1984.  By 1985 several major exploration
      companies had explored the region for previous and base metal
      occurrences.  Their work resulted in the discovery of several
      epithermal gold-silver prospects, as well as the Kemess North, Kemess South
      and
      other porphyry gold-copper prospects.

     

    In
      1990
      and 1991, El Condor Resources Ltd. delineated the Kemess South gold-copper
      deposit, located about 35 kilometres to the northwest (Rebagliati, 1993, Figure
      3).  The deposit is currently being mined by Northgate
      Minerals.

     

     

    
      
        
        

      

      
        Page
          9

        
          

        

      

      
        
        

      

    

     

    

     

     

     

    FIGURE
      3.  REGIONAL GEOLOGY

     

     

    
      
        
        

      

      
        Page
          10

        
          

        

      

      
        
        

      

    

     

    6.   Geological
      Setting

     

    The
      property area, as summarized from Richards (1975), is underlain by mixed mafic
      flows and pyroclastics and interbedded marine sediments, mainly
      argillite.  These rocks are locally intruded by small quartz diorite
      to monzodiorite stocks, and just to the north of Menard Creek by quartz
      monzodiorite of the Johanson Lake Stock.  The property is flanked
      along the southwest by the Moose Valley Fault, a north northwesterly trending
      splay off the Pinchi Fault.  Sustut Group sediments cover the basement
      rocks on the west side of the Moose Valley fault along the west edge of the
      property.

     

    For
      copper-gold porphyry exploration, the property is favourably located in the
      Kemess Porphyry District within the productive Takla volcanic rocks, in an
      area
      containing major structures and porphyry style stocks.

     

    7.   Induced
      Polarization Survey

     

    In
      November and December 1995, the previous owners, Consolidated North Coast
      Industries Ltd. contracted Coureur Des Bois Ltd. of Whitehorse to prepare a
      grid
      on the Goldvale property and then contracted Lloyd Geophysics of Vancouver
      to
      complete an Induced Polarization (IP) survey of the grid.  The
      location of the IP survey grid and anomalies with respect to the Goldvale claims
      is shown in Figure 4.

     

    The
      IP
      survey outlined three main zones of increased chargeability that may represent
      good porphyry style targets for further exploration by drilling.

     

    Additional
      IP surveying is recommended to close off the anomalies that remain
      open.  Given the wide spacing of grid lines on this initial survey,
      fill-in lines are also recommended to further define the anomalies prior to
      drilling.

     

     

    
      
        
        

      

      
        Page
          11

        
          

        

      

      
        
        

      

    

     

     

     

    

     

    FIGURE
      4.  GRID AND I.P. GEOPHYSICS TARGETS

     

     

     

    
      
        
        

      

      
        Page
          12

        
          

        

      

      
        
        

      

    

     

     

    8.   Conclusions

     

    The
      IP
      survey outlined three main zones of increased chargeability that may represent
      good porphyry style targets for further exploration by drilling.

     

    Additional
      IP surveying is recommended to close off the anomalies that remain
      open.  Given the wide spacing of grid lines on this initial survey,
      fill-in lines are also recommended to further define the anomalies prior to
      drilling.  Geological mapping and prospecting should be completed
      prior to this to ensure the host rock mineralization and extent.

     

    9.   Recommendations
      and Budgets

     

    It
      is
      recommended that a geologist and prospector complete 5 days in the area of
      the
      anomalies collecting silt and rock samples and confirming host
      geology.  Should this be successful, grid extensions to close off the
      anomalies and tighten spaced lines to 100 m line spacing is
      recommended.  The following outlines a Phase I and Phase II
      budgets:

     

    
      
        	
                Phase
                  I

              	 	 	 	 	 	 	 
	
                Geologist

              	 	 	
                10

              	 	
                days
                  @ $500/day

              	 	$	
                5,000.00

              	 
	
                Prospector

              	 	 	
                10

              	 	
                days
                  @ $350/day

              	 	 	
                3,500.00

              	 
	
                (1)
                  4x4 Truck and Fuel

              	 	 	
                10

              	 	
                days
                  @ $200/day

              	 	 	
                2,000.00

              	 
	
                Room
                  and Board

              	 	 	
                20

              	 	
                days
                  @ $100/man/day

              	 	 	
                2,000.00

              	 
	
                Field
                  Supplies

              	 	 	 	 	 	 	 	
                500.00

              	 
	
                Assays

              	 	 	
                100

              	 	
                samples
                  @ $35/sample

              	 	 	
                3,500.00

              	 
	
                Report
                  and filing fees

              	 	 	 	 	 	 	 	
                2,500.00

              	 
	
                Total
                  Phase I

              	 	 	 	 	
                 

              	 	$	
                19,000.00

              	 
	 	 	 	 	 	 	 	 	 	 
	
                Phase
                  II

              	 	 	 	 	 	 	 	 	 
	
                Grid
                  and I.P. survey

              	 	 	
                21

              	 	
                line
                  km @ $4000/km

              	 	$	
                84,000.00

              	 
	
                Management
                  and Report

              	 	 	 	 	
                20,000.00

              	 
	
                Total
                  Phase II

              	 	 	 	 	
                 

              	 	$	
                104,000.00

              	 
	 	 	 	 	 	 	 	 	 	 

      

    

     

     

    
      
        
        

      

      
        Page
          13

        
          

        

      

      
        
        

      

    

     

     

    10. References

     

    Church,
      B. N., 1973; Energy, Mines and Petroleum Resources Annual Report, p.
      434.

     

    Rebagliati,
      C. M., 1993; Phase 6, 1993 Exploration Diamond Drilling on the Kemess South
      Property, Unpublished report, El Condor Resources Ltd. and St. Philips Resources
      Inc.

     

    Haslinger,
      R.J., DeLong, R.C., & Rebagliati, C.M., 1995; Goldvale Property, Induced
      Polarization Survey, Geophysical Assessment Report; Omineca Mining Division,
      British Columbia, Canada, Report for Consolidated North Coast Industries Ltd.;
      Geological Branch Assessment Report:  24,409.

     

    Richards,
      T., 1975; McConnell Creek Map – Area (94D/E), 1:250,000 scale geology,
      Geological Survey of Canada.

     

     

    
      
        
        

      

      
        Page
          14

        
          

        

      

      
        
        

      

    

     

     

    11. Statement
      of Qualifications

     

    I,
      WARREN
      D. ROBB, of 12607-215 Street, Maple Ridge, British Columbia hereby certify
      that:

     

    
      	
              1.  

            	
              I
                am a graduate of the University of British Columbia with a degree
                in
                Geology  (B.Sc., 1987);

            

    

     

    
      	
              2.  

            	
              I
                have practiced my profession as a Geologist continuously since
                graduation;

            

    

     

    
      	
              3.  

            	
              I
                am a member of the Association of Professional Engineers and Geoscientists
                of the Province of British Columbia (No.
                19947);

            

    

     

    
      	
              4.  

            	
              There
                are no material facts or material changes in the subject matter of
                this
                report that would mislead the
                reader;

            

    

     

    
      	
              5.  

            	
              I
                have no interest, direct or indirect, in the properties or common
                shares
                of Goldvale Resources Inc., nor do I expect to receive
                any;

            

    

     

    
      	
              6.  

            	
              I
                have prepared this summary report from existing public files and
                from my
                own knowledge of working in the area;
                and,

            

    

     

    
      	
              7.  

            	
              I
                hereby grant permission for Goldvale Resources Inc. to use this report
                for
                any corporate use normal to their
                business.

            

    

     

    DATED
      at
      Vancouver, British Columbia this 5th day of September, 2006

     

    

     

    _______________________________________

     

    Warren
      D.
      Robb
      P.Geo.                                                      

     

     

     

     Page
      15fsb2ex10iv_goldvale.htm

    WARREN
      ROBB

    12607-215
      Street

    Maple
      Ridge, British Columbia

     

    CONSENT
      OF AUTHOR

     

    
      	
              To:

            	
               United
                States Securities and Exchange
                Commission

            

    

     

    I,
      Warren
      Robb, P.Geo, do hereby consent to the filing, with the regulatory authorities
      referred to above, of the technical report titled “Geology Report on Goldvale
      Property” dated September 2006 (the “Technical Report”) and to the written
      disclosure of the Technical Report and of extracts from or a summary of the
      Technical Report in the written disclosure in any Offering Memorandum, other
      offering documents, or an Annual Information Form of Goldvale Resources
      Inc.

     

    I
      hereby
      certify that I have read Goldvale’s Form SB-2 and I do not have any reason to
      believe that there are any misrepresentations in the information derived from
      the Technical Report in the written disclosure in the Offering Memorandum,
      other
      offering documents, or an Annual Information Form of Goldvale Resources
      Inc.

     

    
      	
              I
                hereby consent to the use of my name as a consultant to the
                Company.

            

    

     

    Dated:
      November 7, 2007

     

    
      	
              /s/
                Warren Robb   

            

    

    WARREN
      ROBB

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