Guys,Today's results are absolutely fantastic. To the novices,...

Guys,

Today's results are absolutely fantastic. To the novices, the grades do not appear spectacular, but the important thing to remember here is that the mineralisation type subject to today's drilling results is most likely to be amenable to in-situ leaching, such as is currently done by Heathgate. the 4 Mile find potentially does not display these same geological characteristics.

In a nutshell, if you can in-situ leach uranium, you basically need grades of 0.03% or over to make it economic. Given today's price of uranium, this grade cut-off is probably even lower - say 0.02%.

The discover today shows grades of 0.14% (which is about 6 TIMES THE GRADES NEEDED TO BE ECONOMIC) for ISL production. Other grades of 0.07% and 0.09% are also WELL ABOVE the economic cut-off required.

Heathgate are already mining right up to GIR's border. They have an export license, therefore, immediate cash flow from this JV can be achieved relatively easily.

Log in a call to the company to discuss the results if you would prefer to hear it from a qualified geo, and you will see that these results are actually quite significant.

Again, the market is seriously underestimating this.