Resource

Overview:

Thelon Capital Ltd. (TSXV:THC), formerly Thelon Ventures Ltd., is an exploration and Development company with a diverse portfolio of resource project in well known and proven regions for Metallurgical coal, Uranium, and Diamonds. The Company’s primary focus is the Jellico Coal Project in Tennessee. It also maintains an interest in the Lac de Gras Diamond Project, and the Pasfield Lake Uranium Project in Saskatchewan.

Chief Properties:

Jellico Coal Project – Tennessee, USA

The Jellico Coal Project is comprised of 6000 acres located approximately 35 miles north of Knoxville, Tennessee. The property and surrounding area has well-established power, logistics, and transportation infrastructure. This includes mine access roads and a railroad parallel to Tennessee state highway 90, which extends through the property, allowing for economical exploration and production.

Portions of the property have had extensive sampling and drilling by previous operators as recently as 2009. It is known to contain multiple coal seams of high-quality metallurgical, as well as compliant steam coals.

Historical reserve and coal analysis data provided in a July 2009 report by A.R Leamon CPG TN estimate inferred coal reserves of approximately 14 million tons of high-quality metallurgical coal in place (based on historical data and not NI 43-101 compliant).

A surface contract mine on the property already produces 35,000 tons per month from a 640 acre section of the 6,000 acre property.

Lac De Gras Diamond Project – Northwest Territories, Canada

Thelon owns seven mineral claim groups in the Lac De Gras area which has an east-west extent of about 76km.: D, J, K, L. Oki, Thon and Afridi. These properties are located about 300 km northeast of Yellowknife, NWT and access is by air or, during winter, by winter ice road that services the nearby Ekati and Diavik mine sites.

Thelon has an agreement with Peregrine Diamonds whereby Peregrine can earn a 65% interest by spending $4.1 million in exploration and underlying land payments over five years. Under this agreement with Peregrine Diamonds, Thelon receives a 1% GOR on an additional 60,762 hectare’s held by Peregrine.

When Diamet announced the discovery of diamonds and began the acquisition of large parcels of land near Lac de Gras in 1991, the largest staking rush in Canadian mining history commenced. Ultimately, two world class diamond mines went into production with more under development; BHP’s Ekati Mine, which commenced production in 1998 at a rate of 2.5 million carats per year after an initial investment of $1 billion, and the Rio Tinto / Aber Diavik Mine, which recently began operations (capital cost of $1.3 billion). Each of these operations, which are about 40km apart, depend on ore from numerous diamondiferous kimberlite pipes discovered since 1991.

At one time, Kennecott Canada Inc. explored much of the area currently comprising Thelon’s properties. Kennecott conducted extensive airborne geophysics and till sampling followed up by selective ground geophysics and diamond drilling. After acquiring the property, Thelon commissioned a 559.6km line survey flown by Fugro Airborne Surveys Corp., which was completed in mid-2003 on portions of the D, J, K, Oki and Thon claims. As a result of this survey, eleven high priority targets were confirmed and recommended for follow-up exploratory work.

Management

Jason M. Walsh – President, Director - Mr. Walsh has 20 years of relevant business experience. He started his entrepreneurial career at the early age of 16, in the general contracting business. Seven years later, he started a 10 year career as a stockbroker, which allowed him to gather invaluable experience in the formation and financing of venture capital companies similar to Thelon Ventures. Subsequently, he joined Thelon Ventures as president in 2003, where his previous business experience has allowed him to be instrumental in the building of the company’s substantial resource property portfolio, financing of the company’s projects and overseeing the company’s day-to-day operations

Glen MacDonald – Director, Secretary - Mr. Macdonald joined the Board of Directors in 2002. He is a professional geologist, with over 30 years of exploration & mine development experience in the mineral industry. He has designed & managed exploration campaigns worldwide for both metals & gemstones, & has concentrated primarily on Canadian diamond & gemstone exploration for the past 10 years. He has served on the Boards of numerous public companies with management roles in technical, project management & financing. Mr. Macdonald will assume technical responsibility for development of the Company’s gemstone exploration programs.

John Roozendaal, BSc geology, Director – John Roozendaal has a B.Sc in Geology and 19 years experience in the mining industry. John is founder and President of VMS Ventures Inc (VMS.V) and Harvest Gold Corp (HVG.V) ventures focused on the development of base and precious metals projects in Canada and the USA. Mr. Roozendaal has experience with various aspects of corporate governance through his involvement with private, public and governmental boards of directors.

Tim Webb, Advisory Board - Mr.Webb has served as Management and as Owner/Operator of several producing coal companiesover the past 20 years. He brings tremendous insight into Mine management and the Coal industry in the Appalachians.

Peter Watson, Advisory Board - Peter has over 25 years experience in the North American and European capital markets. Most recently as Vice President investment banking of NovaDxVentures Corp. He was instrumental in the formation and development of NovaDxsubsidiary MCoalCorp, and was a capital market advisor to Western Canadian Coal.

W.E. Brereton, M. Ss. (A), P.Eng .- Advisory Board – Mr. Brereton brings over 30 years experience in the mining business world-wide, He has initiated and/or managed a wide variety of mineral projects ranging from regional reconnaissance to detailed drill evaluation of potential ore bodies. Commodities involved include copper, lead, zinc, nickel, platinum-group elements, diamonds, silver, gold, uranium, tin, tungsten and lithium. The programs have encompassed a variety of deposit types including volcanogenic massive sulphides, sedimentary copper deposits, Archean gold-quartz lode deposits, magmatic Ni-Cu-PGE deposits, kimberlites, unconformity and vein-type uranium deposits, shale-hosted lead-zinc deposits, etc. With respect to uranium, Mr Brereton carried out extensive uranium work in the period 1977-1981, mainly in the Athabasca region of Saskatchewan and in the Northwest Territories and has never lost his interest in and enthusiasm for this particular commodity. He is also very familiar with state-of-the-art uranium exploration technologies.

Geoff Watson, Director – For the past 30 years, Geoff Watson has been involved in various aspects of the securities industry. He has been involved with institutional client management, and has assisted in the financing of many public companies. Mr. Watson has also been involved in the corporate communication and development of numerous North American public companies.