Beeston Enterprises Ltd.
(“Beeston” or the “Company”) is a Nevada Corporation. We are an
exploration stage company. We believe that the growing demand for the
production of natural resources presents an area of opportunity for a
developing company such as Beeston. As an exploration stage company, we
engage in the search of mineral properties in an effort to locate
mineral deposits that can be developed to the stage of a commercially
viable producing mine. We currently own a 100 % interest in nineteen
mineral claims, comprising over 9,200 hectares, known as the “Ruth Lake
Property” located approximately 25 kilometres from Lac La Hache, British
Columbia, Canada. We also have an option to purchase three additional
mineral claims, comprising approximately 1,500 hectares, known as the
“Bluff Lake Property” located approximately 8 kilometres to the North
West of our Ruth Lake Property. Our interests in the Ruth Lake Property
and the Bluff Lake Property were both acquired from Candorado Operating
Company Ltd., a British Columbia corporation trading on the TSX Venture
Exchange (Trading Symbol:CDO).
We also believe that
mineral exploration is best conducted where there are large areas of
high mineral potential, where mineral rights can be obtained under terms
which are reasonable and with long term certainty of title, and where
political and tax regimes are known to be relatively favourable and
stable. Accordingly, all of our interests in mineral properties are
located within the Quesnel Trough, a well known geological belt
containing an assemblage of volcanic sedimentary and intrusive rocks of
Upper Jurassic age, which extends from Washington State north to Central
British Columbia. This belt is known for hosting skarn and porphyry
copper and copper-gold deposits. Title to our interest in mineral
claims, like all titles to mineral claims in British Columbia, are
located and recorded by means of a recently developed on-line e-commerce
system known as Mineral Title Online. This new system allows mineral
claims to acquired or transferred using the Internet. Mineral claims
recorded under the old system have been transferred onto this new title
registration system. The result of this new registration process is a
more accurate and secure title to mineral claims. The mineral claims
comprising our Ruth Lake Properties an the Bluff Lake Property have been
located and recorded pursuant to the Mineral Tenure Act of the Province
of British Columbia. As the owner of the mineral claims comprising the
Ruth Lake Property, and the agent of Candorado, the owner of the mineral
claims comprising the Bluff Lake Property, we have the right to explore
and develop these mineral claims and recover all of the minerals
contained within the surface boundaries of these properties and
continuing vertically downward. As for the mining industry in British
Columbia, the province is currently experiencing a significant growth in
mineral exploration. This increase in mineral exploration is due to a
number of factors, including, the growing demand for mineral resources,
the existence of a well established and respected mining industry with
an infrastructure capable of supporting all forms of mining activity
from small scale prospecting to large scale mining operations, and a
stable political environment which not only supports the mining industry
but ensures it is properly regulated in regard to such matters as health
and safety and environmental concerns.
There is no assurance
that a commercially viable mineral deposit exists on any of the mineral
properties in which we have an interest. Our plan of operations is to
carry out exploration work on our mineral properties, whether by
performing our own exploration program or by participation in some form
of joint venture option arrangement with other entities involved in
mineral exploration. All such exploration shall be for the purpose of
determining whether the mining claims comprising our mineral property
holdings contain any commercially viable mineral deposits of
copper-gold. There can be no determination that any commercially viable
mineral deposits exist on any of our mining claims until the appropriate
exploration work has been performed. However, we are of the opinion
that the location of these mining properties is such as to warrant their
acquisition/option and for us to undertake programs of exploration on
both of these properties. In addition to our own on-going exploration
programs, we currently have an agreement with a junior mining company
under which we granted the company an option to acquire a mineral claim
from our larger mineral claim holdings by the payment of cash and the
performance of a series of work programs over a period of four years.
Upon acquisition of the mineral claim by the company, it will be
required to pay a certain royalty to Beeston and the prior owner of the
mineral claims based on a percentage of any net smelter returns derived
from the mineral claim.
Mineral property
exploration is typically performed in phases, commencing with the
initial phase of exploration work and followed by each subsequent phase
of exploration work recommended by a geologist based on the results of
the previously completed phase of exploration work. Preliminary
exploration programs were carried out on both the Bluff Lake and Ruth
Lake Properties during the summer of 2007. Based on the results of
these initial exploration programs, we have decided to proceed further
with exploration on both of these properties. Phase two of the work
program planned for the Bluff Lake Property will consist of a $165,000
exploration program involving trenching and drilling. We intend to
carry out this exploration program in late spring 2008. A smaller work
program of approximately $35,000 is planned for the summer of 2008 on
the Ruth Lake Property. This exploration program will involve further
soil and rock sampling.
We estimate the cost of
operations for 2008 to be approximately $225,000. The Company plans on
raising these funds through equity financing and has approved a private
placement offering for 500,000 common shares of the Company at a price
of $0.68 per share. We expect to raise up to $340,000 by means of this
share offering before its expiration on June 20, 2008.
During 2008, Beeston
will continue its efforts to further the exploration work on it various
mining properties as well as to pursue other opportunities to acquire an
interest in mining properties of merit, particularly in the area of the
Quesnel Trough.
Brian Smith,
President
April 1, 2008
