Xeno is Pacific Ridge's newest acquisition.
This rare earths property covers an 11 km strike length of the "Gabe Belt" in northern British Columbia, 140 km east of Dease Lake, and 30 km from existing road access. The carbonatite Gabe Belt contains zones of both tantalum and rare earth elements mineralization and one known occurrence of kimberlite that is potentially diamondiferous. Xeno is one of the highest grade rare earths occurrences in North America.

Sampling by prior workers demonstrated attractive grades of both light and the more sought after heavy rare earth elements. Assays reported up to 1% yttrium and visible tantalum. Tantalum was not routinely assayed. Today's gross metal value of the prior sampling indicate a rare earth component ranging in value from US$50-US$2,200/tonne.

Prior to drilling, the 2001 program will initially consist of comprehensivetrenching and surface sampling to confirm and expand historic sampling data, thereby defining both the bulk tonnage and high-grade rare earth potential. In addition, assaying of tantalum occurrences and the investigation of the kimberlite for diamond content will also be carried out. This program, scheduled to begin in mid-July, will take approximately 6 weeks, after which drilling is planned.

With approximately Cdn$400,000 in its treasury, the Company has sufficient funding in place to commence exploration of the Xeno property. If initial samples and drill results warrant further work, the company will seek a financial or joint venture partner.