October 2006

Toronto Star - Wednesday October 18th
Canadian Stock market operator TSX Group Inc. has announced a memorandum of understanding to increase cooperation with Bovespa, the Sao Paulo Stock Exchange in Brazil.
The objective is to share information and facilitate interlistings with the Toronto Stock Exchange, the junior TSX Venture Exchange and Bovespa, the main stock market in Brazil and the largest in Latin America.
The initiative “favours collaborations and developments together that will contribute to the strengthening of both markets,” TSX Group CEO Richard Nesbitt and Bovespa president Raymundo Magliano Filho said in a joint statement.
The announcement came as Brazilian mining giant Companhia Vale do Rio Doce awaits Canadian regulatory approval of its planned $19 billion takeover of Inco Ltd.
“The opportunity to strengthen ties with Toronto Stock Exchange and TSX Venture Exchange is important to Bovespa at this time, as we are striving to promote the Brazilian market abroad,” the Bovespa chief said.
Nesbitt, in Sao Paulo for the annual convention of the World Federation of Exchanges, added that the link with Bovespa will expand opportunities for issuers from both countries to expand their reach and shareholder base.
Since 2000, Bovespa has operated as the sole equity market in Brazil.

August 2006

Canolire Mineracao Ltda was incorporated at the end of August, 2006 as the
vehicle to purchase land for York-Rio's purposes and also assist in obtaining licenses.

May 2006

Daniel Pasin visits Toronto:
At the end of April through the beginning of May, York-Rio’s geologist Daniel Pasin arrived in Toronto with the purpose of reviewing current and future business plans with regard to timelines and land purchases.
Extensive reviews of new maps and mineral samples have successfully been conducted by Daniel and his team. York-Rio is pleased to announce that it has completed the required steps with the Brazilian government to incorporate a company in Brazil for the sole purpose of land acquisition to be used for mining.
Numerous mining companies are content with having only mineral rights paid; being at the mercy of external factors, including 30% payment of all recovered mineral value to the land owner. Needless to say, there have been many “middle-men” all too happy to assist foreign investment, at a cost. Although that is the cost of doing business, and is offset by the inherent success of the mining operation, York-Rio Resources will be providing the community with an economic base by partnering with the residents - having a company partly owned by the employees. The result … greater profit.
Extensive discussions had with experts in both Canada and Brazil indicated that York-Rio’s selected path would yield considerable results. The goal, as always: to provide a return on investment with the least amount of risk.

2006

Since the summer of 2004, we focused our efforts on laying the groundwork for growth. In 2005, we assembled a team of dedicated professionals working toward one common goal, success.
Over the last few months, York-Rio has been busy qualifying and securing a strong network of contacts that are necessary for the future success of our mining project in numerous crucial areas.
We are assembling our work force in Brazil: our plant manager, 3 shift supervisors; our geologist; 15 equipment workers; 4 security officers; office manager and a Government and Environmental liaison officer.
We are very fortunate having the Canadian dollar benefit on our side for the past several months and look forward to having that position further enhanced as the dollar strengthens in the future.
We will take full advantage of the strength of the Canadian dollar vs. the U.S. dollar.
As York-Rio becomes further involved in the Brazilian mining arena, we have been approached by corporate investors regarding potential joint ventures.
A large diamond firm based in Israel has shown interest in acquiring interest in York-Rio. It is premature to release details at this time, but will keep our investors informed of the situation as discussions progress.
In addition, we are contending with the lengthy process of licensing. If this is not done precisely, and with consideration, it will most definitely cost us additional time and money.
Moving forward, our intention is to begin exploration in August until the rainy season arrives - (the region has two seasons: a rainy season, November to May and a not-so-rainy season, June to October). Still, this depends on receiving the requisite licensing.
Overall, we are encouraged with the progress we have made to date. We are a company that is developing and evolving daily.