Pacific Booker Minerals Inc.

AGM June 25, 2007
Project Update Report

Prepared by:

Erik Tornquist

1. Schedule
2. Resource Estimate
3. Mine Plan
4. Metallurgy/Engineering
5. Geo-technical Investigations
6. Waste Storage
7. Plant Site
8. Power Supply
9. Environmental
10. Regulatory/First Nations
11. Training and Development
12. Policies and Procedures
13. Budget

1. Schedule

1. The Feasibility Study and Environmental Assessment completion date is November, 2007 with mine construction expected to start in mid 2008 and operation late 2009.

2. Resource Estimate

1. An updated 43-101 compliant Resource Estimate was completed by Geosim Services to include the results from the infill drilling program completed in late 2005 and the results from assaying the ore body for molybdenum. The measured/indicated mineral resource is 206,869,000 tonnes grading 0.46% Cu equivalent consisting of 0.39% Cu, 0.20g/t Au and 0.005% Mo;

2. In addition to the above, there is an inferred resource of 56,534,000 tonnes grading 0.47% Cu equivalent consisting of 0.40% Cu, 0.21g/t Au and 0.005% Mo;

3. An area of elevated molybdenum grade occurs in the southeastern portion of the deposit, which includes 49 million tonnes of measured and indicated mineral resource of 0.40% Cu, 0.15 g/t Au and 0.01% Mo; and

4. As per recommendations made by Geosim Services, ore from seven geotechnical drill holes has been selected and sent to Acme Laboratories for assaying. This could potentially further increase the resource estimate.

 3. Mine Plan

1. Conducted preliminary work on mine plan, resource reserves, haulage costs, etc. Nilsson Mine Services conducted a pit optimization exercise. The results of the pit optimization exercise expands:
   
   
   1. the size of the process plant from 25,000 t/d to 30,000 t/d, and
   2. mine life to approximately 16 years.

4. Metallurgy/Engineering

1. Grinding and flotation tests have been completed on 22 samples by SGS Canada. Work is in progress to complete the testing of 60 additional samples. The tests will provide data on mineralogy, recoveries, hardness, work indexes, concentrate grade and tailings characterization. The results will be used for the design of the process plant and modeling the metallurgy of the ore body;

2. Based on the data preliminary process plant flow sheets have been developed,

3. Development of sizing and specifications of major equipment have commenced, and the equipment lists have been initiated;

4. An evaluation of High Pressure Grinding Roller Technology (HPGR) has commenced. HPGR technology, if proven suitable for grinding the Morrison ore, would replace the Semi Autogenous Grinding (SAG) mill. This would reduce power requirements by approximately 15 to 20% and consumables by 7 to 10%; and

5. Site plans are underway including the process plant, primary crusher, pit design, and tailings storage. Further work will include the plant site roads, ancillary buildings; overburden and waste rock storage areas with a preliminary site layout delivered this month.

5. Geo-technical Investigations

1. Feasibility level geo-technical investigations and pit slope design reports were completed for the proposed open pit. The objective of the pit slope design is to determine the steepest practical slope angles for the open pit mine, so the operator can maximize the extraction of the identified ore resource; and

2. A pre-feasibility level geo-technical investigation report was completed for the proposed Waste Storage site and plant site. The primary purpose of the report was to provide geo-technical information for the pre-feasibility level design of the Waste Storage Site and the proposed plant site.

6. Waste Storage

1. Klohn Crippen Berger Ltd. completed a waste management site alternative study to determine the most suitable site for waste storage. Environmental, waste rock haulage and tailings pumping costs were main considerations;

2. Site B located approximately 3.3 km north of the open pit was deemed to be most suitable, mainly due to it's environmental advantages;

3. The location of the waste storage site dams proposed by Knight Piesold Consulting was reviewed to determine storage efficiency and construction costs. A resistivity survey, used for soil classification, was conducted to determine the most efficient alignment of the dams and location of the process plant:

   1. Klohn Crippen Berger Ltd. proposed changes to the alignment of the dams, which will improve storage efficiency, reduce the requirement for dam building material by 2,000,000 m3 and eliminate the need to monitor water in a second water shed; and

4. Specifications and a preliminary cost estimate was developed in conjunction with environmental risk based upon 170 Mt of ore, 147 Mt of waste rock (70% PAG/ 30% NAG and a production rate of 30,000t/d.

7. Plant Site

1. The process plant location chosen by Beacon Hill Consultants has 42 meters of overburden and would result in an additional $800,000 expense for foundation construction. An alternative plant site, based upon the results of the resistivity survey, was selected, which will be located on bed-rock. This also results in the process plant being located closer to the waste site, approximately 2.2 km, thus reducing tailings pumping costs.

8. Power Supply

1. With approval from Xstrata Copper the integrity testing of the electrical cable to the Bell mine site has commenced;

2. Discussions with BC Hydro to supply power has commenced; and

3. BC Hydro has indicated a potential saving in power costs from the use of HPGR technology because the reduction in power from using HPGR technology may meet their criteria for their Demand Side Management programs.

9. Environmental

1. Environmental base line studies, which have been ongoing since 2001, continued within the property area. These include hydrological measurements on tributary creeks, water quality sampling from creeks and drill holes, wildlife observations, fisheries background studies and acid rock drainage investigation;.

2. By September 2007, the following remaining studies will be completed:

   1. archaeological impact assessment,
   2. soil mapping for reclamation planning,
   3. metal leaching and acid rock drainage prediction and mitigation design,
   4. traditional use and traditional knowledge,
   5. groundwater assessment and modeling, and
   6. aquatic biology;

3. Monitoring of water quality and meteorological conditions will continue;

4. Additional studies may be required along portions of the proposed transportation and power line access corridors;

5. The scope of environmental studies is communicated to the BC Environmental Assessment Office (BCEAO) Project Working Group and Lake Babine Nation for their input;

6. Collaboration with agencies, such as Fisheries and Oceans Canada on fish habitat assessments, is ongoing;

7. Preparation of the Environmental Assessment Certificate Application will follow completion of environmental field assessments with completion in November 2007; and

8. Three hundred and twenty nine ore samples were analyzed for Metal Leaching and Acid Rock Drainage. A report, which predicts the Metal Leaching and Acid Rock Drainage at the proposed Morrison mine, was prepared by Minesite Drainage Assessment Group. The results indicate that 66% of the rock has Potential for Acid Generation. The data will also be used to determine waste management options.

10. Regulatory/First Nations

1. Meetings and communication with key government people and agencies including the BC Environmental Assessment Office, Ministry of Energy, Mines and Petroleum Resources; the Minister of State for Mining and Federal Agencies;

2. Consultation and relations building continued with Lake Babine Nation (LBN). A BCEAO arranged meeting with the LBN scheduled for June 27, 2007 at the LBN office in Burns Lake; and

3. Public information meetings will follow shortly after the meeting with the LBN.

11. Training and Development

1. Developed a training and development plan, job descriptions, including primary focus, duties and responsibilities and prerequisite experience and qualifications for the mine positions;

2. Established the minimum skills and knowledge required to safely perform all tasks required for every job description;

3. Liaised with educational institutions to explore training requirements, needs assessment, training programs and training venues;

4. Submitted the training plan to the LBN for review and comment. The training plan will be used by the LBN to conduct a Human Resource Assessment/Inventory to determine the level of education and qualifications of their members; and

5. The training plan will also be submitted to the provincial government for review and comments, for possible funding for training programs for the LBN.

12. Policies and Procedures

1. A number of policies and procedures were developed such as;

   1. Code of Ethics and Business Conduct;
   2. Health Safety and Environment Policy;
   3. Environmental, Safety and Health Plan;
   4. Training and Development Policy;
   5. Training and Development Plan;
   6. Quality Management Structure;
   7. Quality Policy; and
   8. Organizational Chart

13. Budget

1. A budget and tracking procedure was developed.