I just want to reply to some of your comments. The idea of this...

I just want to reply to some of your comments. The idea of this comparison chart was to show shareholders who we regard as being our immediate North American peers so you can do your own research on them.

No 2 projects are the same, we are simply showing projects which are in a similar location, commodity and size as the Estelle Gold Project. If you regard the other project's drill results as being world class then that is your interpretation, but I have not seen any of them come up in the top 10 drilling lists like Nova's have, which is why I didn't tick them. I agree they are good results, and I searched all publicly available data to show the best results I could find for each project not to be biased and I even put the actual results next to the tick or cross so shareholders can make their own minds up about this.

As for grade. Fort Knox AISC is US$1,202/oz @ 0.3 g/t Au whereas Pogo's ASIC is US$1,254/oz @ 7.5 g/t Au.....why? If we talk about grade, then we also need to talk about geometry, geology, process, by products, metallurgy, mining method etc.... all things which are addressed in an economic study, which neither US Goldmining or Snowline have completed yet, but Nova has!. In particular you talk about USGO but remember they are a gold-copper porphyry project so they will have to either treat their ore on site with a large expensive plant or ship it off as a concentrate to be processed offsite, but either way they will still need a processing plant onsite to get get to their concentrate to a higher grade.

Again the point is that no 2 projects are the same and until each project has at least an economic study completed, it is difficult to compare them from that point of view. I hope this chart does however help as a basis for any discussions and it clearly shows the current market cap discrepancies based on the things which we can currently compare.