Significant gold resource - Excellent infrastructure

Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.

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Message: Insider Report

J.Ovsenek numbers corrected in this version.

All my opinion, please do your own DD. While care was taken in the preparation of these numbers, I would urge you all to familiarize yourselves with www.sedi.ca, which in my opinion is far superior to the info learned on other sites like www.canadianinsider.com .

I have never in my life seen Insiders buy like this after/during a stocks run-up of over 500%. If this doesn't give you confidence I'm not sure that anything would. Transactions done before the discovery and following runup starting November 26th not included.

Top shareholder down:

Gordon Davies

1,651,750 shares

550,000 options

50,000 warrants

= 2,265,750 total

incl-

nov 27 buy 150,000shs @ $1.40

nov 27 buy 50,000shs @ $1.35

Jan 28 buy 50,000shs @ $2.34

plus 100,000 units in PP @ $2.25

Robert Quartermain

1,048,000 shares

400,000 options

50,000 warrants

= 1,498,000 total

incl-

nov 27 buy 150,000shs @ $1.314

nov 28 buy 20,000shs @ $1.55

nov 28 buy 30,000shs @ $1.60

dec 10 gifted -20,000shs @ $1.99

plus 100,000 units in PP @ $2.25

Kenneth McNaughton

1,088,250 shares

350,000 options

7,500 warrants

= 1,445,750 total

incl-

Jan 9 gifted -40,000shs @ $2.90

Jan 9 sold -10,000shs @ $2.90

Jan 28 buy 11,000shs @ $2.28

Jan 28 buy 50,000shs @ $2.34

Jan 30 buy 50,000 shs @ $2.30

plus 15,000units in PP @ $2.25

Joseph Ovsenek

200,000 shares

350,000 options

25,000 warrants

= 575,000 total

incl-

plus 50,000units in PP @ $2.25

James Tutton

30,000 shares

69,000 shares rsp

50,000 shares corporate acct

400,000 options

= 549,000 total

incl-

nov 29 sold -5000shs @ $1.45

nov 30 sold -4000shs @ $2.02

nov 30 sold -3000shs @ $2.00

cross trade

dec 3 sold -20,000shs @ $1.82 from personal acct

dec 3 bought 20,000shs @ $1.82 in corp acct

Andrew Mitchell

195,000 shares wifes acct

165,000 shares

40,000 shares rsp

125,000 options

= 525,000 total

incl-

*no transactions since discovery Nov 26th

Linda Sue

245,000 shares

70,000 options

= 315,000 total

incl-

*no transactions since discovery Nov 26th

Bruce Youngman

50,000 shares

250,000 options

= 300,000 total

incl-

*no transactions since discovery Nov 26th

Tom Yip

10,000 shares

100,000 warrants

5,000 warrants

= 115,000 total

incl-

plus 10,000units in PP @ $2.25

John Kim

20,800 shares

= 20,800 total

incl-

*no transactions since discovery Nov 26th

Total Insider Interest is 7,609,300 shares

Total change since the discovery was released November 26th leading to the stock price increasing by over 500% is +891,500shares!

Like I said, show me one other stock where the Insiders have seen their investment go up over 5 fold and are still adding.

Best regards,

Buck

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