Ann: Appendix 3B, page-43

Hi, I don't know what the grade of stockpiles was but 5g/t seems on the high side as I don't think it would have been left there. The purchaser would have sampled it to justify paying $2.5m but would probably not have disclosed that to AMG. Dumps can be sampled by collecting hundreds of small grab samples on the outside and bulking them and they may have done some cuts into it as well. Very unlikely it was worth $50m however. I have seen many projects and the descriptions and assays by AMG of extensive Au at the surface, if accurate (and they should be) is remarkable. Hard to beat high-grade intercepts (look at Bellvieu Gold BGL and Kirkland, 2 Cos I bought and still hold). The so-called sausage; if it does not meet IOG expectations the wide Au drill intersection in sulphidic black shale by itself is remarkable as well. Ever since the famous Sukoi Log discovery, I have been looking for another black shale with wide consistent Au results.