Ann: Quarterly Activities and Cashflow Report, page-20

Hi Mulac

Well summed up and great post. Lots of great work has been done by St George over the last 6 or so years and we are very close to being rewarded imo. Yes it has been challenging for all and lots of patience is needed but as we all know that is the nature of exploration and if you can't handle it don't invest and / or move on.

The company went into overload this week with 4 announcements on Monday and buried in one of the announcements was that their latest hole MAD200 intersected 12.6m intrusive unit at 500m with 1.4m of disseminated and blebby nickel copper sulphides at 512m (<5% sulphides with pentlandite (pn), chalcopyrite (cp) and pyrrhotite (py)). They also identified that these sulphides are preserved and support the potential for further nickel-copper sulphide deposits proximal to MAD200 and that there are three very strong electromagnetic (EM) conductors – with modelled conductivity of 69,926 Siemens, 27,000 Siemens and 32,235 Siemens, respectively – already identified proximal to MAD200 with a further downhole EM (DHEM) survey scheduled for MAD200 this week.

Based on the MAD200 sulphide intersection and the previous DHEM results I have no doubt they will hit more massive sulphides which will be the deepest massive nickel sulphides to-date. We also have the MAD201 step out target from MAD199 and the new very promising gravity targets at West End to look forward to.

With the latest CR I'm estimating St George will soon have $8.5m cash in the bank and with all the additional geological knowledge they have accumulated over the last 12 months it is time they take the plunge and get at least 3 diamond drill rigs working 24/7 for 3 months minimum working on the north west down plunge step outs, infill and West End targets towards the Ida Fault.

Soon the good news will be flowing, holders will be happy and the negative destructive noise will be history.

Happy Days
SandyC