Ann: Drilling for Resource Extension at Paris & HHH Completed, page-14

Enterprise Valuation is $10M split between the Paris Gold Project (PGP) and Bullfinch Gold Project. This is a quick overview of potential at the PGP, will cover Bullfinch in a later post, so assume a conceptual EV of $5M for PGP.

PGP includes an Inferred Resource of 35,000 gold ounces extending from two open pits at Paris and HHH that is located within an established 2,500m (very prospective) gold trend. First pass drilling at Observation (northern end of trend) has intercepted broad, shallow, high grade and open ended gold mineralization along a 350m strike that has been drilled out to a 600m strike (awaiting results) that extend east to west within a 2,500m north to south trend. So we know that the main trend has gold targets that extend its width by at least 600m and open.

TOR is waiting on results from targets at Strauss, HHH, Paris Pit, Harolds Lode, Senators Shoot, Marmaracs and Lady Doris. These targets (along two lines) extend mineralized potential that exceeds 4,000m. TOR has also taken an option to acquire a tailings dump at Paris for $1M from the original vendor Austral Pacific. IMHO the PGP has very significant upside from its current EV of $5M. My conceptual guesstimate is that awaited assays have potential to increase EV by multiples of $5M.

TOR has $5M in cash and has taken a very aggressive development stance towards further development at PGP which is located at a prime area for gold exploration that includes nearby gold mines along the same fault line hosting 1.3M, 3.4M, 3.5M, 2.5M ounce gold mines within 50kms. TOR is very tightly held so positive results should fire up the price. Good luck to all longs.