Trueclaim Exploration Inc.

HEAD OFFICE:	96 Hagerman Crescent St. Thomas, Ontario Canada N5R 6K3
Tel No.:	(519) 851-9202
Fax No.:	1-888-686-1405
Web Site:	www.trueclaim.ca
Contact Person:	Eric Plexman	John Carter	Paul Cooper
Position:	CEO	President	COO
Email:	eplexman@trueclaim.ca	jcarter@trueclaim.ca	pcooper@trueclaim.ca
Telephone:	(519) 851-9202	(905) 302-3843	(905) 814-5261

COMPANY DATA

Traded Market:	TSX-V
Traded Symbol:	TRM
Outstanding Shares:	45,346,524
Public Float:	38,000,000
52 Week High:	$0.35
52 Week Low:	$ 0.06
Present Price:	Click Here

CORPORATE OVERVIEW

Trueclaim Exploration Inc. is a publicly listed TSX-Venture mining company (symbol TRM) engaged in the acquisition of, exploration for, and development and production of precious and base metals in strategically located areas, currently within Ontario and elsewhere in North America. The Company is defined by a highly experienced and cohesive management team relying on the latest in contemporary drilling and exploration technologies to cost-effectively discover and develop potential mine sites.

In August 2009 the Company was successful in raising approximately $1.3 million to fund its initial property development plans. This was followed by a $1 million second round of funding in November, 2009. The Company will be actively pursuing additional funding in the Spring of 2010 as it gears up for the next round of exploration on its property holdings.

The Company's immediate focus has been the Scadding Gold Mine, a former gold producer strategically located 50 km. northeast of Sudbury, Ontario, one of the largest mining centres in the world. In early 2009 the Company completed a comprehensive NI 43-101 on the property which recommend a two-phase drill program to explore and develop the site. In February, 2010 Phase I of this program was completed, the Company is preparing for a Spring start to Phase II of the program.

In October 2009 the Company also negotiated a series of agreements with nearby property owners that added approximately 41,000 acres of adjacent lands to the Scadding footprint. The entire Scadding site offers an outstanding opportunity for resource expansion and mine development and the Company is actively looking forward to moving forward with the next stage of exploration in 2010.

BUSINESS STRATEGY

With gold prices expected to remain at or near their current $US1,000+ per ounce levels for the foreseeable future, Trueclaim's business strategy is to actively develop an inventory of properties such as the Scadding Gold Mine capable of near-tern production and positive cash flow. By generating cashflow as early as possible in its planning cycle, Trueclaim will be able to fund continued corporate growth through internal resources rather than external, and dilutive, equity financing.

Although the Company intends to follow this strategy, it is also opportunity driven and will focus its expenditures in areas that provide the greatest economic return to the Company and its shareholders. This may manifest itself in developing near term properties defined as having been past producers or have known high-grade resource potential. The Company will also actively examine opportunities to acquire properties with active ongoing mining operations. All of these paths are designed to rapidly and effectively achieve a critical mass in terms of production capacity and cashflow generation.

To facilitate its acquisition efforts, the Company entered into a consulting and assistance agreement with First Canadian Securities in September, 2009. First Canadian will provide Trueclaim with financial and capital markets advisory services in its efforts to expand its base of near-term production properties. Suitable properties are examined with a view to either creating joint ventures or evolving as outright acquisitions. The Company believes that with its experience and focus it can establish a critical mass of such properties that will create long-term, lasting value for its shareholders.

Trueclaim Exploration Inc. was listed for trading on February 23, 2009, and with approximately 45 million shares currently outstanding it remains ideally structured for its planned growth. The Company has one of the best teams in the Canadian mining community today, and also has a clear plan for moving forward.

In addition, by applying modular mill concepts that keep production costs low, the Company has established a clear value proposition that will successfully differentiate it in the gold production sector. Each of these elements will play an important role in building a new world-class Canadian mining company.

DEVELOPMENT PROJECT - SCADDING GOLD, SUDBURY, ONTARIO

Scadding Gold is a 3,440 acre (1,108 ha) site located in Scadding Township near the Wanapitei - Ashigami Lakes district near Sudbury, Ontario. The site was initially mined by Northgate Exploration in the mid-80's and produced approximately 30,000 ounces (grading at approximately 7.2 g/tonne) from a known non-compliant resource (by current NI 43- 101 standards) of 165,000 ounces.

Mining operations by Northgate were folded up shortly afterwards due to low gold prices, and the site has remained dormant since. This has not diminished the potential of the existing resource nor the opportunity to dramatically increase the resource further.

Of the 2,240 acres that made up the original site, less than 10% was ever developed within the former gold producing operations. Trueclaim has recently added approximately 41,000 additional acres to expand the development footprint. Historic gold, nickel, copper and PGM (platinum group metal) occurrences and geophysical anomalies occur on these claims.

In May, 2009 the Company completed a comprehensive NI 43-101 report on the site. The report recommended a two-phase exploration program with a goal of increasing the resource to in excess of 1,000,000 ounces. This program is now fully underway with Phase I completed in early 2010.

DEVELOPMENT HIGHLIGHTS

May, 2009 - Scadding Gold NI 43-101 completed.
June, 2009 - Scadding optioned by Trueclaim.
August, 2009 - Initial fundraising of $1.3 Million completed.
September, 2009 - Consulting agreement established with First Canadian Securities.
October, 2009 - Agreement with Pacific North West Capital increases Scadding footprint by 33,000 acres.
November, 2009 - Phase I, 2,000 metre Scadding drill program commenced. Second round $1 million capital funding completed.
December, 2009 - Phase I program completed, assay analysis underway.
January, 2010 - Press release announcing visible gold in drill core and high grade intercepts.
February, 2010 - Phase I drill program complete. Company announces multiple high-grade intercepts over extended intervals across broad areas of the five zones that make up the property (North, South, East-West, Central and New).

MANAGEMENT

Eric Plexman, Chief Executive Officer & Director
Mr. Plexman has more than 30 years of experience in the mining industry. In 2003 he served as Vice-President, Secretary and Director of Canmine Resources Corporation. From 2005 to 2006 he was a director and President of SOM Resources.

John Carter, President & Director
Mr. Carter was President of Minpro International for 32 years, a Canadian company engaged in the fabrication and installation of mineral processing equipment. During this time Mr. Carter developed cost-effective modular milling technologies that will be instrumental in creating efficient mining operations at each of the Company's current and future properties. Mr. Carter was also President of Oro Blanco Resources, a junior public gold mining exploration company with operations in Arizona and South America.

Paul K. Cooper, Chief Operating Officer
Mr. Cooper brings 30 years of experience in operational, financial and project management in private and public companies, including direct senior leadership experience in industrial minerals and plant construction. He holds a degree in Chemical Engineering and an Ivey MBA both from the University of Western Ontario.

Bob Komarechka, Senior Geologist
Mr. Komarechka has been a professional geologist for more than 25 years, as well as a gemmologist registered with the Canadian Gemmological Association. He has extensive experience in the Scadding area, including the undertaking of the Ontario Government's Mineral Inventory Data Inventory (MDI) and Abandoned Mines Survey Inventory (AMIS) studies. Mr. Komarechka graduated with a BSc. Geology Major from Laurentian University in Sudbury, Ontario.

Lindsay Moss, BSc. Geo., Project Geologist
Ms. Moss graduated from Laurentian University in May 2007. She has worked in Bissett (Manitoba), Sudbury (Ontario), Detour Lake (Ontario) and Kambalda (Western Australia). Her young career has focused mostly in gold exploration and geological modeling. Since joining Trueclaim Exploration in 2009 she has applied leading edge computer technology to compile a 3D model of the Scadding geology, which in turn has allowed the Company to effectively target zones of mineralization during its drill programs.

Mavros Whissell, BSc. Geo., Project Geologist
Mr. Whissell is a graduate of Laurentian University. He has experience on several pertinent deposit types including: Ni-Cu-PGE, (Sudbury), unconformity type uranium deposits (Northern Saskatchewan and Amer Lake, Nunavut) and most recently Scadding style gold mineralization. Mr. Whissell joined the Trueclaim team in January 2010 and has worked on putting forth a regional data collection methodology which will enable Trueclaim to make quick and accurate decisions regarding properties and projects which larger companies cannot perform within equivalent timeframes.

Skip Hamilton, Project Manager
Mr. Hamilton is an experienced mining consultant in all aspects of site development including design and construction. He is the former co-founder and builder of the largest hardrock quarry on the Upper Great Lakes, and has been involved in assessing various mineral deposits in numerous countries such as the US, Greenland, Peru, and the Caribbean Islands. He is based near Sudbury and is an important liaison with local, government, and First Nations groups associated with the project.

DIRECTORS

Joseph Giuffre, BA LLB, Director - as a practicing lawyer, Mr. Giuffre has been a director of Nevada Copper Corp. (TSX-V:NCU) since November 2006. He is also a director of Mesa Uranium Corp. and Kootenay Gold Inc.

Enzo Martone, Director - Mr. Martone has experience with gold mine operations located in the Red Lake, Ontario area including underground mining, assaying, purchasing and cost control. He has also worked for Goldcorp Inc. as a Chief Assayer and Assistant Purchasing Agent.

Luard J. Manning, P. Eng., Director - Mr. Manning is a mining engineer with extensive experience working on development and production projects. He has worked as a mining consultant for the last 40 years.

Gordon Reid, P. Eng., Director - Mr. Reid has been the Corporate Vice President of Operations for Centerra Gold Inc. since April 1, 2009. From 2004 to 2007, Mr. Reid served as Vice President, Business Development of Centerra Gold Inc. (TSX:CG).

NEWS UPDATE

On January 26, 2011, Trueclaim Exploration Inc. announced that it has retained SRK Consultants (Canada) Inc., part of the SRK Group, to undertake a structural review and offer technical assistance in the recently announced 8,000-metre drill program.

On January 18, 2011, Trueclaim Exploration Inc. announced that it has started diamond drilling on the 8,000-metre Phase II drill program on its Scadding gold property.

On December 17, 2010, Trueclaim Exploration Inc. announced that it has signed a Memorandum of Understanding with the Wahnapitae First Nation respecting Trueclaim's mineral exploration, mineral development and closure operations on the part of its Scadding Project that lies within the Wahnapitae Nation Traditional Territory.

On December 15, 2010, Trueclaim Exploration Inc. announced that the Company has been selected to appear on Today in America hosted by Terry Bradshaw. The segment is expected to air in 2011 nationally on FOX Business Network and regionally on CNN Headline News.

On December 8, 2010, Trueclaim Exploration Inc. provided results from its fall field sampling program on the East Wahnapitei area including:

· Glade occurrence: 5 metres of continuous channel sampling along strike averaging 10.94 g/t gold, containing a half metre channel sample of 73.91 g/t gold
· Bus zone: 6 grab samples averaging 7.19 g/t gold, containing one sample of 33.63 g/t gold
· Tecumseh occurrence: 6 grab samples averaging 3.26 g/t gold, containing one sample of 14.08 g/t gold.

On November 29, 2010, Trueclaim Exploration Inc. announced that its common shares are now trading on the OTC market's highest tier, OTCQX, under the symbol TRMNF.

On July 7, 2010, Trueclaim Exploration Inc. announced that it has hired Stephen Holmes, CA, as the Company's Chief Financial Officer. Mr. Holmes is an experienced accountant with direct financial reporting and audit experience, including work in the natural resources sector.

On July 7, 2010, Trueclaim Exploration Inc. announced that it has completed an option agreement with Mr. Terry Loney of Garson, Ontario. Under the agreement the Company can earn a 100% interest in approximately 7,000 hectares (17,297 acres) comprising 438 claim units. These claims are contiguous with the claims currently owned and being explored by the Company related to the former Scadding gold mine. The addition of these new claims will bring the Company's holdings in the Scadding region to approximately 21,000 hectares (52,000 acres).

On June 9, 2010, Trueclaim Exploration Inc. announced that it has engaged the Surrey, B.C. based 0880065 B.C. Ltd. to provide investor relations services to the Company for a period of one year commencing April, 2010.

On June 4, 2010, Trueclaim Exploration Inc. announced that it has completed preliminary results of the airborne geophysical survey undertaken on the Scadding property and a summary of its activities on the property. Highlights include Trueclaim samples 152.79 g/t gold at Scadding.

On June 2, 2010, Trueclaim Exploration Inc. announced that it has completed a formal option agreement with Black Diamond Exploration Inc. to acquire 100% of the past producing high-grade silver mine (127 claims) owned by Black Diamond representing approximately 2,500 acres. The claims area is located in and around an area known as the Richmond basin in the Apache Mountains of Gila County, located approximately 100 miles east of Phoenix, Arizona.

On April 22, 2010, Trueclaim Exploration Inc. provided updates in its evaluation of the Scadding Gold Mine and surrounding area property. The Company has engaged the services of Terraquest Ltd. of Markham, Ontario to carry out an airborne survey of landholdings held by Trueclaim and others. The survey represents a total area of 24,000 ha in Scadding, Davis, Maclennan and Street Townships located approximately 50 km northwest of Sudbury.

In early April the Company entered into a lease agreement to acquire the use of a hand held X-Ray Fluorescent unit (XRF) to assist in the onsite evaluation of alteration and mineralization for the upcoming field season. The unit acquired is the InnovX Systems Inc. "Delta Premium" model.

On February 22, 2010, Trueclaim Exploration Inc. announced the results from its recent Phase I drill program at its Scadding Gold Property in Ontario. The Phase I program consisted of 30 NQ drill holes totaling 3,275 metres spread across all five zones (North, South, Central, East-West, and New Zones). John Carter, the President of Trueclaim, summarized the results by noting "this initial phase of drilling produced multiple high grade gold intercepts across significant lengths in holes throughout the five zones" (North, South, Central, East-West, and New). "As exploration programs go in Canada today we believe these results offer outstanding potential for Scadding" noted Mr. Carter, "particularly given that the areas explored only represent a small portion of the 41,000 acres held by the Company."

Some of the most significant intercepts occurred in the following eight holes: TRM-09-02, TRM-09-03, TRM-09-06, TRM-09-13, TRM-10-02, TRM-10-06, TRM-10-07, and TRM-10-10. For example, TRM-10-07 in the North zone produced an average value of 12.9 g/t (.40 oz/t) of gold across 19.29 metres (64 feet) of depth. The Company believes the results may lead to continuity of mineralization across all five zones and at depth. To date no drill holes greater than 100 metres deep have been done. This will be a key part of the Phase II program to assess the resource potential at greater depths and achieve the goal of defining a compliant resource base in excess of 500,000 ounces. Based on all of these elements the Company believes its shares represent an excellent opportunity to realize value as it proceeds with its business plans.