Ann: Primary Gold Mineralisation Confirmed at Lambarson Canyon, page-46

I have taken the time to digest the news and have mixed thoughts. Please keep in mind i've been in since 0.002.

Gold mineralisation has been confirmed which is what they set out to do, but at a thickness and grade that wouldn't be economical to mine. So the next step is to use that data to find some better intersections. The worry here is that it's time and money to do something that they're hoping to achieve. The next drill hole is 500m away, the concern is that results are similar or worse. Douglas Canyon is next and with one drill program already failing (Tonopah North), there is definite concern for me that although something may be there, it's not enough to warrant any sort of progression, or it's going to cost a lot more to continue exploration (i.e. further dilution). Having said that, the share price has held fairly well, so the downside risk may be limited.

In terms of other projects:

Crown - This to me is really their real share price driver, if they get anything near what Chalice have discovered then it will be their company maker. Plenty to get through first though before that has a chance of being achieved, still quite a few 'ifs' involved.

Mt Hope - I cringe when OAR is being compared to ADN. The value in ADN is at Great White, Hammerhead and Camel Lake, anything from Mt Hope for them would be bonus and i believe not factored into their current market cap. The question i'm still asking myself is that if there's anything at Mt Hope why would have ADN not taken the tenement knowing they've analysed all over Australia and globally for the best deposits.

Peru - Who knows what's going on there - but it would be their cash flow generator and avoid further dilution to continue progressing other projects.

The opportunity here is still good, but it is all based on 'what if' and 'hopefully', which isn't something I'm overly comfortable with.

I've sold out of my OAR holdings but taken a position in OARO, that's enabled me to use my cash elsewhere while still holding a large enough position for exposure to any upside. Put it this way, in 12 months time, with what Oakdale has, I believe the share price will either be towards 20c or under 1 cent.

Just trying to add a balanced view. Today was by no means catastrophically bad, but puts it in a slightly more difficult position.

Cheers