Ann: Appendix 3B , page-10

Thanks crypto,

I think it always good to have a look at the fundamentals after a re-rating like we have had. By your calculations EKM is still good value based on reasonable assumptions and assayed RC drilling.

What has convinced me to hold long term is the opportunity to have a position at ground level in a company which may have secured the lions share of a entire new gold province.

Central bore has extensions 1.1km north and 1.2km south and the mineralization is known for 3.1km and is open in both directions. That is just central bore. As has been mentioned many times we have only explored a tiny fraction of the 4000sqkm we hold.

What this says to me is that once we get a mine going, which I am confident we will, there will be a systematic exploration program proving up more feedstock for the mill for many years to come making ekm a very profitable mid tier gold producer. (I know I am fantasizing here a little but that is my vision for EKM long term and why I plan to hold long term).

I guess the question now is if we are fair value for what is known, what value do you put on the unknown potential? Which I think could be massive!

Gl all

Wiil