The Cold Lake deposit is 100% owned by Halo Resources and is located 4 kilometres southwest from the Bob Lake deposit. It is located 400 metres north of the Manitoba Hydro corridor and 400 metres south of the railroad.

Drilling at the Cold Lake deposit has demonstrated continuity of copper-zinc mineralization over a strike length of approximately 400 metres. The high-grade copper-zinc zone has reflected consistent high grades and was tested by 15 diamond drill holes spaced at 30-metre intervals over a 510 metre strike length. Mineralization remains open along strike and also at depth.

Drilling programs have been successful in confirming Indicated and Inferred Mineral Resources at the Cold Lake deposit.  The Indicated Resources total 0.36 million tonnes grading 0.83% Cu, 1.72% Zn, 0.41 g/t Au and 9.9 g/t Ag and the Inferred Resources total 1.2 million tonnes grading 0.7% Cu, 1.4% Zn, 0.3 g/t Au and 9.0 g/t Ag.  Included within these mineral resources are near-surface Indicated Resources of 0.27 million tonnes grading 0.74% Cu, 1.34% Zn, 0.38 g/t Au and 9.02 g/t Ag plus 1.0 million tonnes of Inferred Resources grading 0.7% Cu, 1.2% Zn, 0.3 g/t Au and 8.5 g/t Ag which could potentially be mined by open pit methods.

Drill hole DH08-88 was drilled on the Cold Lake deposit to test the down-dip extension of the known mineralization.  No significant assays were reported and it appears that the Cold Lake mineralization is pinching out at depth in this location.