Reserves Estimate

The recent geological sampling (May and June 2010) generated an average yield of 2.40 grams Au/ton estimate based on the 16 near surface samples taken (see Appendix 4 for geologist abstracts related to these samples). Spot checks on yields of other proven reserves in operating mines of this region lend credence that 2.40 g/ton is a reasonable expectation.

While we are getting considerable information that would lead us to believe we will see much higher yields once we actually sample the production grade gravels we are targeting, we must limit our estimations to those samples that have been completed, and thus all financial and production estimates will use 2.40 g/ton until further geological data is provided.

Mining Project

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