5 Undervalued Gold Stocks

November 3, 2009

Rubicon Minerals (RBY)

Rubicon is one of the largest landholders in North America's most mineral-rich regions. It is currently drilling at Phoenix Gold, a small portion of its 100 sq. mile properties in the Red Lake, ON region. To date, gold grades of up to 2,600 g/t au have been intercepted right next door to a top-producing Goldcorp (GG) mine. Most recent drill results showed up to 400 g/t au and significant extensions and depth to its central gold vein. In addition to Phoenix Gold, Rubicon fully owns a 593 sq mi property near the prolific Pogo mine in Alaska and a 351 sq mi. property near the Carlin Trend in Nevada.

Great Basin Gold (GBG)

Currently valued at under $1.50, Great Basin Gold is both a low-cost gold miner and an exploration company with new high-grade gold discoveries. Its two 100%-owned properties include the Burnstone, South Africa mine which presently produces 254,000 oz. of gold annually at just $495/oz., next to a Harmony Gold (HMY) mine. Its other property, the Hollister property, is located on the prolific Carlin Trend, producing 120,000 ounces of gold annually at a recently-revised cash cost of $324/oz. Most notably, recent discoveries at Hollister have shown gold grades of up to 2,156 g/t au.

Exeter Resources (XRA)

Exeter currently owns several mineral rich properties in politically-stable Argentina and Chile. The company most recently reported drill results of up to 924 g/t au at its 100%-owned Cerro Moro, Argentina property. Ongoing drilling at its optioned Capische, Chile property has revealed significant gold, silver, and copper resources.

Claude Resources (CGR)

Claude has an active mine at its Seabee, Saskatchewan property and ongoing drilling programs at both Seabee and its Madsen, Red Lake, ON property. Last year, Seabee produced 45,000 oz. au at a total cash cost of C$683; however, it recently reported that it increased its Q3 gold production by a remarkable 80%. Seabee also reported recent drill results with grades of up to 20 g/t au. Gold grades were even higher at Madsen, where up to 141 g/t au were intercepted.

Northern Abitibi Mining Corp. (NOMNF)

Northern Abitibi derives its name from its location in the northern part of the Abitibi subprovince of western Quebec, where it has a joint venture gold drilling project. However, its most promising discoveries have been in Newfoundland. Recent drill results at its Viking, Newfoundland property uncovered grades of up to 27.7 g/t au; however, previous results have included grades of about 218 g/t au. Its 119 sq. mi Taylor Brook property and 47%-owned Voisey Bay property have significant nickel and copper resources.



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