Ann: Quarterly Activities Report, page-4

Amigos, it looks likely that there will be no drilling until next quarter, so in the meantime long-suffering investors will have to be thankful for a bowl of gruel (remember what happened to Oliver Twist when he asked for more). In summary - The drilling of the EL deposit has been completed and the cores are on their way to WA for assay and metallurgy - part of the mining studies. It will be intersting to see the assays because EL deposit was a very high grade plug and CZN made the discovery of the high-grade EL Deeps (below EL). The new gravity survey at Lynn Lake is underway and it will be used to direct the company's drilling in Q2. Mt Gilmore is on the back-burner because the resuts of the drilling were not up to scratch. Unfortunately, geophysics can be very misleading - sometimes fanatastic results but other times barrren false positives. CZN will need a large wad of cash in the biscuit tin before the team thinks of drilling at Mt Gilmore again. And then there is the new Miriam Prospect in WA. The 6 month option period ends in early-April, so the company is probably savings its pennies for the final payment of $400,000. After that payment, CZN can begin an exploration program. Honourable leader, Brett the Fox Smith is pencilled in for a presentation at an RIU Conference in Sydney in May. It could conincide with a capital raising to fund the next round of drilling at Fraser Lake and the start of exploration at Miriam. But these are just the thoughts of a madman.