no mad rush today arvo, page-16

hi Frank, there is certainly no certainty in exploration, but as investors we can only deal with the facts that are on the table, that is EXM are currently drilling in and around one of Australia's highest ever graded gold mines, so as an investor you have to ask yourself what is the chance of them not only hitting gold but finding something substantial.

what is of importance for EXM shareholders is the fact the area they are drilling is just so prospective for high grade gold, they already have a JORC of 532,000 oz's at a very high grade of 7.1 g/t.

What a lot of people don't realise is that the Tennant Creek area that EXM is exploring hasn't been drilled in 20 years(the only reason the mining stopped was due to the low gold price, not the lack of gold in the area) and certainly not using modern exploration techniques, the company has taken the right approach of spending 9 months searching through all historical data had magnetic surveys completed and hiring several extra geologists and a very experienced exploration team and that has lead them to be able to define several very prospective drill targets.

In fact the company is that confident of finding something substantial at Tennant Creek, they not only have put a target of an addtional 2 million oz's which may turn out to be conservative, they have also placed other exciting projects on the backburner, and on top of that they already have 2 drill rigs going with a third on the way.

Next week is a very significant milestone for EXM when we get the first look at some exploration results from Tennant Creek don't be surprised if this becomes one of the markets favourite spec companies with so much news on the way and the lure of plenty of high grade gold hits, things are only just starting to heat up for EXM.