1% NSR Baird Township, Ontario - Red Lake Camp (primary commodity – Au)
In 1993 United Reef sold its 50% interest in 50-patented claims (the Aiken-Russet Property) to Madsen Gold Corp. The claims are contiguous to the western boundary of the Madsen Mine property in Baird Township, Ontario. Madsen was taken over by Claude Resources Inc in 1998. Four of six high priority exploration targets on the Madsen properties, identified by Claude in 2007, lie partially within the Aiken-Russet Property. United Reef retained a 1% NSR for all precious metals on the claims payable to a maximum of $1 million CDN.