Updated Resource Estimate (based on current results), page-582

Most respectfully to those who are very nervous - look back at the prior drilling done in the 80s, if you are not comfortable with hitting something mediocre and seeing that announced to market you need to re-assess your appetite for risk.

The point of the program is to find the limits of this ore body don't be surprised when we find them and understand that can happen early in the program, but hitting one blank doesn't close this off as its open in a number of directions, you just need to be comfortable with that possibility IMO, or exploration speculation can be quite hellish.

The scene so far:

Extreme high grade potential - A number of outstanding drill holes from Rupice that imply potential for a tier 1 discovery, which were a complete surprise in the context of historical drilling (prior to 2017). I think rupice began as a relatively uninteresting deposit at surface and with depth has become extremely interesting.

Scale potential - The land package and surrounding 5km radius of first rights of tenure contain a number of prospects with similar signs as Rupice at surface, including BJ currently being drilled. The SEDEX geological model points to a reasonable probability of multiple occurrences, as does the model suggested by CSA/cannacord. We can hope for a few shots at a big discovery if Rupice is too small, or we can have multiple discoveries.

Funded - Sufficient cash on hand to further explore Rupice, expand land holdings and interrogate a number of regional targets, with further capital likely to be required at some stage in the future but likely after many more results are at hand than they are today.

Newsflow - Seems to be very regular and done well in my opinion. Assay turnaround has been quick, and they are increasing rigs on site to 3. Some debate on the timing of releases, but from my experience of last 12 months they are doing very very well to simply get things turned around quickly.

Market - Zinc/lead/copper/silver are performing terribadly, why do we bother with this market I sometimes wonder.