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PROPERTY OVERVIEW

Sierra Gold Corporation is a Nevada State USA company that owns the mining rights of Northern Star Resources Ltd, a Sierra Leone incorporated gold and diamond mining company. The rights include a secured 40 sq/km prime mining concession with a government issued two year exploration license. The property is located on the North Pampana River which is one of Sierra Leone’s richest known alluvial gold mining rivers. The property lies south of the Sula Mountains approximately 120 km east of the Capital City of Freetown in the Greenstone belt of Sierra Leone.

A report completed by the mining engineer Michael Manke on the property in the mid 1990’s indicated gold grades of .12 oz/ton taken from the auriferous gravel in the Pampana Channel and it’s flanking flats and terraces. The original study of the resource potential indicated a possible resource of 500,000 ounces. Recent large bulk sampling work done in the Winter and Spring of 2005 indicate gravel depths more than double those previously reported and significant gold values, 2.62 gm/ton (.092 oz/ton) in the overburden. Given the above information the resource potential could be in excess of $ 500,000,000 with significant areas of the property yet to be explored. No assurances can be made that such potential may be reached or profits realized.

A more recent 43-101 report (competent persons report) completed by the company's geological consultant Hendrik Veldhuyzen in April 2006 stated the property was one of merit and detailed an ongoing exploration and development plan.

It is the aim of Sierra Gold Corporation to raise exploration and development capital on the Pink Sheets to expand the resource and complete a test mining program while completing the process to move the company to the NASDAQ market. To complete this process Sierra Gold aims to raise the $ 2,500,000 to complete the expanded exploration and development program. The company also plans to satisfy the requirements necessary to qualify for the NASDAQ market.