Ann: Estelle Strategic Review Outcomes, page-36

Also for those wondering: the bill of AIDEA for 300M USD that explicitly mentions NVA is a game changer for us. The fact that we are mentioned means that Chris has leverage at the highest level of government. His value for getting this into production can’t be overstated and we now have a recognition of our importance for CMs as well.

The Bill (122) will be discussed in the Alaska House of Representatives which is dominated by republicans and is likely to pass IMO.

It would majorly derisk this project and would make all components needed to get to production easier (transport, power, construction).

If the academic research an antimony content in Estelle continues and comes with a favorable nod to AIDEA, we may get funding for drilling antimony (and maybe can drill with same funds to test other areas for antimony and hence gold)

I think:

- small drill program this year: infill and explore
- get support from AIDEA hopefully before winter
- Bill passes house in April
- us listing in May
- MRE right after

I haven’t sold a share. From these levels the upside is baffling. As long as they can start sending clear near term upside events, we will fly.