Golden Reign Resources Ltd. - Magadan Province



Overview Magadan Province Butarni Property Dorozhni Property Map Gallery Photo Gallery Canada		Magadan Oblast (Province) Overview Magadan Oblast is located in Russia's Far East, running north from its capital Magadan along the northern shore of the Sea of Okhotsk and eastwards to the Taigonos Peninsula and the middle reaches of the Omolon River. Apart from swampy taiga along the coastline, most of the rugged mountainous area is covered by tundra on permafrost soil. Economically, apart from some fishing to the south, the most important industry is mining, especially of gold and other non-ferrous metals, mainly around the upper reaches of the Kolyma River. There is a road from Magadan city to the Sakha Republic that crosses the Kolyma gold fields. The climate is sub-arctic. Winters are prolonged and cold, with up to six months of sub-zero temperatures, so the soil remains permanently frozen. Permafrost and tundra cover the region. Magadan Oblast has been widely known as a mineral storehouse. Its mineral wealth includes more than 11 percent of proven placer gold reserves, 15 percent of lode gold, and about 50 percent of proven silver reserves in Russia. Morevover, the probable reserves of precious metals are 3-6 times greater than the proven reserves. In addition to well-known gold and silver deposits, there are also prospective deposits of copper, complex ores, molybdenum, tungsten, mercury, and antimony, various non-ferrous and ornamental colored stone deposits. CentroCredit Bank The CentroCredit Joint Stock Commercial Bank was established in 1989. In 1991, the Bank obtained the Central Bank of Russian Federation General License 121. The CentroCredit Bank is operating and actively developing as a universal customer-oriented bank laying special emphasis on the investment banking; therefore much attention is given to the diversification of the services provided and to the establishment of the up-to-date infrastructure necessary for the successful business. The CentroCredit Bank is a member of the Association of Russian Banks, the Professional Association of the Registrars, Transfer Agents and Depositories ('PARTAD'); it is also a member of the Russian Trading System ('RTS') and the Moscow Stock Exchange ('MSE'), as well as a shareholder and a member of the Stock and Futures Market Sections of the Moscow Interbank Currency Exchange ('MICEX'). The existence of the Federal Commission for the Securities Market of Russian Federation (FCSM) Licenses to perform all the types of business at the stock market shall enable the CentroCredit Bank to provide comprehensive services at the Russian stock market to a broader circle of customers, foreign investors included. The CentroCredit Bank offers its customers a full line of the cash and settlement and investment services. We are striving to establish an individual approach and firm relationship with each customer, meeting the highest professional standards. We possess all the requisites for being financial advisors and trading intermediaries for our customers. The CentroCredit prepares its financial statements in accordance with the Russian and the International standards. Its Auditors in 1999-2002 was the KPMG company and in 2003-2005 - "Deloitt?&Touche" company ranking among the world's major and most authoritative auditing companies. Dr. Stephen Henley (view article: Russian Resource/Reserve Reporting System), a leading consultant in geostatistics and FSU resource work, states that 'the ultimate quality of the reserves and resources --- regardless of what system has been used --- depends on the quantity and quality of the work that has been done, and the know-how and experience of the team that is carrying out the work, in (the Former Soviet Union) as in the west.'