Ann: Thunderbox Project Exploration Update, page-4

Hi Leo, that's what I thought at first glance. If you read in context of what they are trying to achieve it is very good. Looking at some of the results extending zone A down as well as to the south, the way I read it is these drill results maybe able to decline the strip ratio as zone A is developed which is a great. Looking at the results to the left edge of zone A were very impressive and higher grades than I expected. If you are familiar which strip ratios and how they effect AISC its huge. If you can put it through the mill instead of hauling it to a waste dump it's happy days. There are plenty of high grade pits around where the strip ratios and ore body thickness have way better intersections but are not economic, what we are looking at here is a deposit that it's highly likely economic and should gold price rise that pit shell could encompass a lot greater area in development that would pay for itself whilst exposing a much greater high grade area in the lower levels of the pit as drill hole extended high grade 70 m further. Strip ratios are why Regis is mining such low grade ores and making good money. I can't wait till the feasibility study is published, I think it will highlight some of these points well.