Ann: Appointment of Director - Mr Mark Calderwood, page-52

People keep saying "a lifestyle company" as though mining and exploration is a lifestyle. These are passionate geologists trying to make educated guesses and nothing more. They find clues then based off of that stick straws into a cake and try to find the melted chocolate nuggets mixed inside. There are lots of exploration companies (usually junior) that give misleading information to bolster the price and initiate sales of tenements or old leases. I do not believe EFE is one of them. They had/have an interesting piece of land they thought it was ripe first drill holes are not promising but that is why we drill. There is still a long way to go they might have gotten clues to much thicker layers and be moving in that direction. There might be much thicker intercepts coming but who knows. That is the gamble when you put money into an exploration stock before they even start drilling. What keeps me interested is the Chinese backing by big companies, that's why I won't sell until they have done a decent drilling campaign, but that's also why I didn't put so much money that I would be devestated if I lost it all it is a very large gamble. I have worked in exploration and it is tough you don't know what is in the ground until you have drilled it, and ALL OF IT. Anyone who bought in at 4 cents with their life savings and is now crying "lifestyle company!!" After the first drill campaign, then sold at 1.9 cents has no business buying exploration mining stocks. But yes the handling of results (I believe they held them back because assay results were so poor) is a shockingly bad decision. Possible thicker intercepts based on visuals does not count but let's wait and see, if these assays come back good we are heading in the right direction. I would like to see consistently thicker intercepts then I can be a bit more optimistic, at the moment my sentiment is to hold the fort and allow drilling to take its course until we have sufficient data.