Ann: Letter to Shareholders, page-16

This Board letter to shareholders is a reaction to the increased "AGAINST" votes for the the last general meeting.

I had expected a letter from the board earlier than this and I think recent actions taken by the anonymous shareholder mentioned in the letter have made the board put this out prior to calling the Annual General Meeting.

I think this letter to all shareholders will give the anonymous shareholder the opportunity to counter the boards finance thesis and further demand mining recommence at Burbanks and voting AGAINST re-election of directors including the Chairman M Edwards.

This new letter from the "Disappointed Shareholder" will focus on demands to mine Burbanks North for working capital. For those that have forgotten or new to Greenstone the previous CEO Sean Gregory had a deal with FMR (major shareholder) to mine Burbanks North with all approvals in place and this board and FMR somehow mutually agreed to terminate that JV agreement. Mining Burbanks North had been talked about in a number of ASX releases over the years and due to low gold prices 8 years ago mining didn't happen.