Ann: HIGH GRADE GOLD AT SPRING HILL , page-29

Mak...if you have $100k left in this company at 0.6 cents I sympathise with you.

The SP was 4 c 3 years ago and 0.6 cents now because:

1) Management have failed to deliver a DFS on time or budget for Molyhill

2) Management have failed to sell offtake agreements to Molyhill on time or budget

3) Management have failed to garner finance for Molyhill

4) Management have failed to capitalise on Dundas exploration in a region where most other miners are shooting the lights out

5) Management have spent significant sums on Administration costs where the money would have been better spent on exploration

That, In my honest opinion, is why our SP is currently at 0.6 cents.

It is also, In my honest opinion, why the SP can now not pick itself up off the floor, even with some signifcant drilling interests at Spring Hill.

The market has lost trust in the management of this company, and to turn it around, they are going to have to start delivering.

It was not long ago that THRs fearless leader was quoted as saying "it is as good as it gets" when referring to upcoming DFS on Molyhill. From that point on, it then took some two years to sign any offtake agreements - and lets be clear, this is a LOI....it is still pending technical and legal due diligence.

Of course, like you, this is just IMO...DYOR.