Pavilion Energy Resources Inc and JV partners have applied to the California Governor for a 300 square mile exploration mining lease containing potentially vast offshore iron sands, with chromite and gold platinum credits.

Geological models suggest that the lease application could contain a billion tons of high grade iron chromite precious metals resources located in near shore, easily accessed oceanic placers, with the lowest lifting costs of any iron ore.

Iron sands and associated minerals are now very valuable commodities. The increasing prices of iron ore, chromite, rare earths and gold, coupled with new higher powered ocean going suction dredge technology has opened up the possibility of profitably mining the vast California near shore alluvial metals deposits. Shallow ocean placer mining is an established, low environmental impact worldwide mining activity.

PVRE's proposed dredge miners could cost around 80% less per unit of iron ore output than onshore iron ore mines. PVRE believes the Sustainable Mining Division may create a breakout, asset, which could significantly increase shareholder value.

Once the first PVRE JV dredge is operational, the JV could become a multi billion dollar valued business, due to the potential vast metals resources under JV control, higher profitability and unlimited expansion potential of the mines.

PVRE is a 10% JV partner in this and additional Iron Gold Sands lease applications, now in preparation.