Global Tree Technologies

Global Tree continues to maintain 20 mineral claim units, in good standing, located in the Vernon Mining Division of B.C. This B.S.3 claim block, originally recorded on September 24, 1985, formed the mineral basis for Global Tree's strategic positioning immediately adjacent to the Quinto Mining Corporation (QU-CDNX) key claim blocks. Global Tree al... so continues to maintain by option, in good standing, a potential 50% interest in the IPO I-24 (IPO) mineral claims located in the Cariboo Mining District of B.C. The option agreement, for mineral rights to this property, is with International Wayside Gold Mines (IWA-CDNX) of Vancouver, B.C. The IPO property consists of 22 claims which lie at the junction of Williams Creek and Mink Gulch. Williams Creek was one of the premier gold creeks of the Cariboo Gold Rush. According to estimations in archived reports, between 1861 and 1898, Williams Creek and two of its tributaries produced 1.5 million ounces of gold. The IPO property, which has similar stratigraphy and structure to the IWA Bonanza Ledge deposit, is favourably positioned to host the same style of replacement mineralization. The Company is not proceeding with its option with respect to the 94 Keystone Property mineral claims, located in the Liard Mining Division of British Columbia. FUNDING: On November 29, 2000, the Company completed a private placement for $1,300,000. Those funds have been utilized as follows: $366,000 to pay current liabilities $500,000 for mineral property development and general operating capital is deposited in Global Tree's bank account as security for a line of credit $60,000 has been used for software development $374,000 has been used for general operating capital The Company is currently in the process of raising capital to enable the Company to meet its budgetary requirements for the next twelve months. On March 7, 2001, the Company issued a press release relating to a proposed private placement of $1,200,000. The Company will not be proceeding with this private placement but is ...Read More