THE O.T. MINING CORPORATION Titan-24 DEEP-LOOKING GEOPHYSICAL (INDUCED POLARIZATION, RESISTIVITY, MAGNETO-TELLURICS) SURVEY – RUBY PROPERTY, SOUTHWEST MONTANA

INTRODUCTION

The O.T. Mining Corporation is pleased to provide a summary of results of a recently completed leading edge, deep-looking high technology geophysical survey conducted over selected areas of the Company's 21.3 square mile Ruby property Figure 1 . This survey was undertaken by Quantec Consulting Inc. between May 4th and June 5th, 2004 over three areas of immediate interest on the property. These include the Ruby Mine-Ruby West area, the Kit Carson area and the North Anomaly.

The Titan-24 system records three different types of geophysical information. These include Magnetotelluric (“MT”) data, DC Resistivity data and Induced Polarization (IP) chargeability data. In combination with these data, sophisticated processing techniques are utilized to provide the best possible interpretation of survey results up to depths of one kilometre.  Each of the three data sets are designed to measure the presence of differences in the character of the rock at depth, including the presence of sulphide minerals, related alteration and other unique rock properties.

A total of 30 line-kilometres of surveys were undertaken along 10 surveyed and cut lines. Individual lines were approximately 300-m apart and 3000 feet long. The lines were established in the Ruby Mine-Ruby West area  (3 east-west lines), The Kit Carson area (5 northwest-trending lines) and the North Anomaly (2 east-west lines). The distribution of these lines on the Ruby property is given in Figure 2.

OBJECTIVES OF THE SURVEY

The objectives of the Titan-24 survey were to assess the three areas of interest for geophysical signatures related to new or additional mineralization that might be present at depth or below the known workings of existing mines or mineralized areas. This included additional gold-silver-base metal bearing veins beneath the past-producing (2.44 ounces per ton gold (“opt”) and 38.66 opt silver) Ruby Mine, the source of high Mobile Metal Ion soil geochemical anomalies in the Kit Carson area (0.88-34.28 opt gold, 35-527 opt silver, 1.96-11.84% lead, 5% copper at the adjacent Kit Carson Mine) and the nature of the geology below a magnetic anomaly defined by a helicopter-borne geophysical survey (Fugro, 2001) at the North Anomaly.

RESULTS OF THE SURVEY

Data Quality
The quality of all three types of data acquired during the survey was good to excellent although some problems were noted with “telluric noise” as a result of afternoon thunderstorms however additional good quality data was acquired from the affected areas subsequent to the storms. Some problems were also noted in the Ruby Mine area although this is probably related to mining equipment that is present on the property as well as equipment stored underground.

Data Presentation
Partial results of the Titan-24 survey are presented in Figures 3, 4 and 5 for the Kit Carson and Ruby Mine-Ruby West areas and in Figures 6 and 7 for the North Anomaly. Figures 3 , 4 and 5 are given as “plan” maps. That is, the data is presented as though one is looking down on the surface of these two exploration areas. The North Anomaly results are presented as “sections” as though you had sliced through the earth’s crust and were standing back looking at the rocks in the same manner as viewing the interior of a cake that had just been “sliced”. These two different perspectives are given with this report to facilitate the observations made with Titan-24 geophysics and to help the reader to understand the significance and size of the responses obtained.

The Kit Carson Area
The survey in this target area defined “corridors” of up to 2,000 m in length and 300 m in width marked by elevated “resistivity” and “chargeability”. Resistivity is used as an indirect indicator or measurement of mineralization-related alteration such as silicification, quartz veins and clay-rich or “argillic” alteration. These styles of alteration are associated with gold-silver-base metal-bearing veins on the Ruby property and in the Kit Carson Mine area.

The corridors in the Kit Carson area have defined very large northeast-trending linear zones of high exploration potential and correspond to the presence of an extensive, 2,500 foot by 300 foot wide Mobile Metal Ions (MMI) gold and silver soil geochemical anomaly. Strong chargeability anomalies are associated with these precious metal anomalies.

These types of geophysical responses are an indirect measurement of sulphide mineralization and occur in association with the high-grade Kit Carson Mine and also in association with resistivity anomalies in the Kit Carson target area. The chargeability anomalies can be observed in Figure 3 with resistivity anomalies in Figures 4 and 5. The coincidence of the chargeability and resistivity anomalies in the Kit Carson area is interpreted to represent a significant zone of gold and base metal mineralization within a strongly altered, northeast-trending structure and an important exploration target.

Ruby Mine-Ruby West Area
The Ruby Mine-Ruby West area is also marked by coincident resistivity and chargeability anomalies which coincide with mapped alteration in surface rocks and with MMI soil geochemical anomalies. The geophysical anomalies are also presented on Figures 3, 4 and 5 and provide focus for diamond drill testing of integrated exploration targets based on geology, geophysics and geochemistry.

The North Anomaly
Partial results of the Titan-24 survey are reproduced in Figures 6 and 7 for the chargeability (sulphide mineralization) and the resistivity (alteration and rock type) results in the North Anomaly. Figure 6 is a “slice” through line 2N in the area and illustrates an extremely large chargeability anomaly marked by two “protrusions” or “fingers” of sulphide-bearing rock intruding (see arrows) into the overlying volcanic rocks.  These two chargeability responses are interpreted as sulphide-bearing Boulder Batholith. Proposed drill hole locations are given in Figure 6 (“DDH NA05-7 and –8). Coincident with the chargeability anomaly related to the presence of the mineralized Boulder Batholith is a resistivity anomaly that marks the presence of alteration of the rocks hosting the mineralization (see Figure 7).

IMPLICATIONS FOR EXPLORATION

The implications for exploration and a direct consequence of the integrated geology-geophysics-geochemistry approach taken to the Ruby property are demonstrated by the results of Titan-24 geophysical surveys. The extent of mineralized Boulder Batholith as deduced from the chargeability response in the North Anomaly (Figure 6) is demonstrated by the chargeability anomaly that extends to 3000E, the eastern end of the Titan-24 survey line. Recent acquisition of geophysical data from the Wyoming archives of the Anaconda Company in this same area indicates the chargeability anomaly does not stop at the terminus of O.T.’s survey line but continues further to the east. Taken together with O.T.’s Titan-24 survey, mineralized Boulder Batholith can be expected to extend for a total distance of 15,000 feet in an east-west direction and 8,000 feet in a north-south direction. This represents a significant mineralized zone and an important follow-up target for O.T.
                                                                                                                             
This becomes particularly important in light of the results of diamond drill testing of an MMI Cu-Co-Zn anomaly on the North Anomaly by O.T. in the December 2004 (see O.T. News Release January 13, 2005 ). O.T has confirmed the presence of a 2,630-foot drill intersection of continuous copper and molybdenum-mineralized Boulder Batholith on its North Anomaly. This intersection illustrated the benefits of the ability of MMI technology to target metal-rich portions of Boulder Batholith at significant depths. This provides O.T. with an effective tool applicable to the exploration of the remainder of its Boulder Batholith target and for focused diamond drill testing.

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