GOLDFIELD WEST

The Goldfield West Property is an advanced exploration property with defined targets including a defined resource comprised of 105 unpatented mining claims covering a total of 850 hectares, or 2100 acres. The property is located approximately 3.5 hours Northwest of Las Vegas, Nevada by car, and approximately 3 miles west of the town of Goldfield. The Goldfield West property is easily accessible by well-graded dirt roads, and adjacent to International Minerals Goldfield properties, which contain a reported 1.2 million ounces of gold resources. The Goldfield district is famous for multi-ounce, bonanza gold ores and has recorded historic production in excess of 4 million ounces of gold at an average grade of > 17 g/t Au.

Geologically speaking, the Goldfield West property encompasses an area of Tertiary volcanic and volcanoclastic rocks. The U.S. Geological Survey (USGS), and several mining exploration companies, hypothesize that the western edge of a caldera rim runs through the property. Historic work conducted by Bear Creek, Placer Amex, U.S. Borax, Northing Mining and Bonaventure Enterprises has led to the completion of 138 drill holes in this area. The data compiled from drilling results and a wealth of information gathered through geological mapping, geochemical sampling and geophysical surveys has identified three distinct targets over a strike length of 3.5 miles. Bonaventure's work campaign, one of the most recent completed on the property, combined geophysical surveys, geochemical sampling and 23 reverse circulation drill holes with Nevada Eagle and South targets helped define at least 220,000 ounces, or more than $300 million in resources. Such results tend to confirm the existence of a gold-bearing hydrothermal system associated with the argillization and silification of host rocks nearer to feeder structures.

Results from the drilling that began in September 2011 have come in and are discussed in the company's January 12 press release.

All American Gold Corp. holds a 35% interest in the Goldfield West property and retains the right to acquire a further 10% interest in the property.

Goldfield West has been permitted for a total of 21 holes and the company will continue to further assess the overall potential of the exploration property.