TAlhambra's wholly owned subsidiary, Saga Creek Gold Company LLP ("Saga Creek") hold the rights to two exploration and exploitation Licenses which covers approximately 2.4 million acres located in north central Kazakhstan. These Licenses combined make up the Uzboy Project (the "Project"). These Licenses were granted in 1997 for an initial term of 25 years and can pursuant to the SubSoil Use Laws of the Republic of Kazakhstan be extended for an addition two, ten year terms. The Licenses provide Saga Creek the right to explore for all metals, including gold, uranium, copper and molybdenum.
The Project is strategically located in the Charsk Gold Belt between the Vasilkovoskoe gold deposit on the northwest and the Asku gold deposits on the southeast.