Ann: Gold Mineralisation Intersected - Eidsvold Project, page-23

I guess it boils down to an investment decision of risk versus reward.

Every outcropping occurrence of gold has the potential for a deeper gold source.

At Eidsvold, it may be that Metalbank discovers an economical to mine deeper source of gold. It might another company that eventually discovers and mines at Eidsvold, or there may not be an economical gold deposit ever found at Eidsvold.

For the here and now. An evaluation of the prospect.

Newcrest drilled 15 holes (unknown metres) in 1998 for a best intercept of 16m @ .2g/t au. I'd hazard a guess that the holes would have been around the 200m mark each. At some point that obviously relinquished the tenement.

Metalbank drilled in 2014 and now in 2017 they drilled 5 more holes.

Three of the five holes announced today, in the third drill programme at Eidsvold, found no gold. That is over 400m of drilling didn't find an intercept of even just 0.1g/t au!

Drill hole EDH005 for 138m is now the fifth drill into the Mt Brady prospect. A circular zone of about 500m. And the result:- [email protected]/t and [email protected] g/t au.

And the company called it a success?!?

Everyone has to do their own research. For me, this is now the third or fourth successive drill program from this company that has failed to score a hit with the drill bit. Hence my change in sentiment on this company.