Ann: Drilling Underway Into High Grade Shoot, page-16

Supporting CR would have been optimum outcome for both company and holding. Maybe but please no advice from me just waffle. Plenty of concerns ahead.

Last week something of disappointment for Gascoyne Resources up the road. They laid off most workers and kept minimum to place their mine on care and maintenance - sighting increased production costs through labor and materials and covid lost time over a period. Not great but who knows re other issues - management whatever - it was costing more per ounce to procure than sales prices achieved - perhaps recent 20% fall from highs with gold prices did not assist but maybe it was already pre sold and they could not capitalize on those high prices - hedging.

Anyway it has no reflection on our continued exploration program however if Gascoyne not operational when we could look to begin mining - if indeed we get there - that is one less large processing plant ODY have mentioned for third party processing. Long way off but worth mentioning the challenges as we were recently advised with high cost of drilling and availability issues.