In accordance with the terms and conditions of a certain "Mineral Property Option Agreement", dated for reference as fully executed on October 20, 2006 (the "Option Agreement"), as entered into between Revelstoke Industries, Inc. (the "Company") and War Eagle Mining Company Inc. ("War Eagle"), War Eagle therein granted the Company the sole and exclusive option (the "Option") to acquire a 70% undivided interest in and to seven mineral claims, comprising a total of 979 hectares, which are located in the Province of Saskatchewan, Canada, approximately 135 kilometers northwest of La Ronge, Saskatchewan, and which are better known and described as the "George Lake" mineral claims (collectively, the "Property").

War Eagle is an exploration stage mining company conducting exploration activity in Mexico whose shares are presently listed for trading on the TSX Venture Exchange in Canada.

In order to exercise its Option the Company is required to incur, or cause to be incurred, on or before December 31, 2008, expenditures in connection with the Property of not less than $1,000,000 pursuant to a work program or work programs commenced and operated by the operator thereon. Upon exercise of the Option, if any, the parties further interests in and to the Property will be determined through an industry standard joint venture agreement which will be deemed to be effective upon the exercise of the Option.

The Company is in the process of evaluating the Property and in determining its best course of proposed exploration activity consequent thereon. At present the Company has been advised by War Eagle that the local and regional geology of the Property area is a favourable host for gold mineralization, and that the 2006 ground magnetic and VLF surveys carried out by War Eagle on the Property outline an anomalous central trend on the grid that may indicate the presence of mineralized shear zones.

SECTION 2 - FINANCIAL INFORMATION

In order to exercise its Option to acquire the War Eagle Property the Company is required to incur, or cause to be incurred, on or before December 31, 2008, expenditures in connection with the Property of not less than $1,000,000 pursuant to a work program or work programs commenced and operated by the operator thereon. Upon exercise of the Option, if any, the parties further interests in and to the Property will be determined through an industry standard joint venture agreement which will be deemed to be effective upon the exercise of the Option.

Effective on October 20, 2006, the Board of Directors (the "Board") of the Company accepted the consent to act as director of the Company from Terence F. Schorn (the "Appointment").

Mr. Schorn is a graduate of the Haileybury School of Mines, holds a diploma in Gemology and has over 45 years experience in the mineral industry. Mr. Schorn is also a Professional Geoscientist, registered with The Association of Professional Engineers and Geoscientists of British Columbia, as well as an Accredited Gemologist.

Since January of 2001 Mr. Schorn has been the President and a director of War Eagle Mining Company Inc., an exploration stage mining company conducting exploration activity in Mexico whose shares are presently listed for trading on the TSX Venture Exchange (the "TSXV") in Canada. Since February of 2006 Mr. Schorn has also been a director of Twenty-Seven Capital Corp, another TSXV listed company. Mr. Schorn is also a director of Snowden Resources Corp., a reporting company listed for trading on the OTCBB.

As a consequence of the Board's acceptance of the Appointment, the Board is now comprised of each of Messrs. Schorn, Marcus M. Johnson, Alan Sedgwick, Stephen Jewett and D. Bruce Horton.

As a consequence of the recent acquisition by the Company of its Option to acquire War Eagle's Property, and in order to, perhaps, better reflect the Company's additional resource acquisition and development business resulting therefrom, the Board confirms that it plans to call a special general meeting of shareholders of the Company to, in part, amend the current Articles of the Company to provide for (i) a change in name of the Company to "Geneva Gold Corp.", or to such other name as the Board may determine, and (ii) to increase the current authorized capital of the Company from 50,000,000 to 200,000,000 common shares of common stock with the same par value of $0.001 per common share.

SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS

(a) Financial statements of businesses acquired.

Not applicable.

(b) Pro forma financial information.

(c) Shell company transactions.

Not applicable.

(d) Exhibits.

                          Submitted herewith:

Exhibit                                Description
10.1      Mineral Property Option Agreement, dated as fully executed on October
          20, 2006, as entered into between Revelstoke Industries, Inc. and War
          Eagle Mining Company Inc.