Ann: Acquisition Update , page-16

Grant,

Can you clarify this

.."due primarily through lack of research that BLR will within the Hansen/Taylor Project be Mining not processing Uranium."

What do you think PEN are doing?

You are mining via bole hole, as unproven tech in the uranium industry.

Why hasn't a major run with this to date to cut their bottom line? It took Cameco to freeze the ground to extract Uranium, a new tech, using jet blasting, which is totally different to UGBM but methods for extraction had to be proven. They had many years of test mining/ drilling before using.

FWIW I have a few friends that work in these fields.

Q. What will happen if the underground stope starts to self mine? I don't know, you don't & I'm sure NRC will need to put a process in place to ensure that it doesn't happen & what to do if it does happen.

There are numerous other issues that will need to be addressed. I want to see the white paper & NRC comments as that will give some guidance before going further.

Telling your audience that it is all fixed by using bore hole & ablation is at this point in time a stretch.

If it works fantastic, I'm sure PEN & others will use the tech if it saves them money (& pay the according royalty). They certainly won't hold it to there chest & say my tech go away.

Uranium has it own unique problems that have to be addressed.

Each of those steps/ permits/ approvals are required to mine.

Down load the SEIS from Adams & have a read. Its only 50 MB & 800 plus pages of matters that have to be attended to just to tick 1/2 of one box.

Most of it address water table issues in the mining process not the tried & true processing.