Ann: St George Boosts Technical Team, page-26

Hi all,

As a long term holder I was impressed by the appointment of Charles Wilkinson. This is indicative of SGQ's approach going forward I believe. He also managed Northern Star, which I'm still kicking myself for selling, although at a good profit, and I have always been impressed by that company. I believe its path was set by those who chartered its course.

Over the past 3 years I've watched this continual cycle of SGQ's share price rising during drilling campaigns, only to fall again once the drilling is finished. Short termers would have made good profits on this but I still believe the great gains will be for the long termers. With each drilling campaign SGQ is proving up their resource and it wouldn't surprise me if Mr Wilkinson has been appointed to not only supervise the next exploration campaign but also to begin a mining feasibility study. Watch this space. True, there'd be an amount of disappointment in the market re how long SGQ is taking, but these media campaigns would also have put the company on a lot of people's radars. I have no doubt that the next round of drilling will generate a lot of interest.

I believe SGQ's current share price reflects the markets adversity to patience. There have been many media campaigns conducted by the company, which have attracted interest but it seems that interest has just as quickly evaporated when the drilling finds no Mother Lode. However, with every drilling campaign SGQ is gaining a better understanding of the resource they seek at MA and their other tenements. I'm hoping that the next drilling leads to 2 things. 1) finding that mother lode or 2) proving up a resource worthy of mining, the profits of which will fund future exploration of the rest of their exciting tenements.

Hang in there long termers. Judging from what's gone on in the past, we will have this quiet time but I have no doubt that there's a lot going on behind the scenes. Drill targets are being plotted and mining strategies are being discussed. Once the boardroom have these strategies in place, get ready for the media/drilling campaigns and the next major push upward. Patience is what's needed here, which, in my opinion, has a very good chance of being rewarded.

Good luck all,

Rhama