Ann: Carlow Castle Update and Proposed Capital Raise, page-107

Hi BC,
Glad to see you back on the ARV site. I think everyone respects your knowledge of the mining industry and the NW Australian region. I saw that you have had a correspondence with AC since the CC fiasco this week. I was encouraged by his continued optimism he expressed to you for the CC and Patterson projects. I would think that if he thought CC was a bust he would have no reason to sugar coat it to you. Did AC indicate to you how soon the Patterson drill program will begin and whether the problems at CC will delay the start?

Thanks for your continued mining commentary for us less experienced investors.

Mark