My interpretation of the press release from Mexico.......


GALORE ASSAYS UP TO 6.5 gm/tonne GOLD AT DOS SANTOS

Interesting – and ENCOURAGING TO see we have another 154 Rock samples being released in today’s news release (July 16, 2008).

I attempted to summarize again…in my attempt to understand what this release is saying and to open up to the board discussions and see if my interpretations are correct.

What do the more seasoned “GOLD BUGS” think of the latest 2 News releases and the YTD GOLD Results out of the Mexico property thus far?

This is the second set of assays released in the last few weeks with another round of ASSAYS scheduled to be released in the NEXT TWO WEEKS. These rock samples are already at the Acme Laboratory in Vancouver being tested & analyzed.

Samples focused on the same two distinct areas of the property and all where within a one-kilometre diameter of ALL samples taken. The two areas reported today are from:

1. San Jose area, at the north end of the property (60 samples)

2. The Los Gemelos mine, a previous producing small artisanal gold mine dating back to the 1950s. (94 samples)

The trenches excavated typically were of a 20-metre length and chip samples of bedrock, were taken continuously upwards of two meter intervals along the entire trench length.

The results – SAN JOSE AREA (60 samples):

· Analyses from 60 new samples were received for the San Jose Area, bringing the total to 167 samples YTD.

· The work is centered on structurally controlled iron-oxide occurrences and includes numerous pits and small underground mines. The area is underlain by Cretaceous-age carbonate rocks, which have been extensively altered and re-crystallized.

· Samples ranged from trace amounts of gold to 6.5 grams per tonne.

· 1 – Sample returned 6.5 gm/tonne gold over 1.5 meters

· 8 – Samples returned a range from 0.5 to 2.2 grams/tonne gold.

· 2.1 grams/tonne gold over 2 metres

· 1.5 grams/tonne gold over 1 metre

· 1.4 grams/ tonne gold over 2 metres

· 1.2 grams/tonne gold over 2 metres.

This brings the total number of samples from San Jose that exceeding 0.5 grams/tonne gold, reported to date, to 20 or 12 % of the total samples, half of all the samples exceed .46 grams/tonne gold.

The sampling is distributed widely within a circular, one-kilometre-diameter carbonate and silica alteration zone, which has been identified on ASTER satellite images of the area. Results to date confirm a strong association of gold with these iron-oxide occurrences. Gold values are also associated with anomalous arsenic, mercury, antimony and thallium concentrations, which are known pathfinder elements associated with mineralization in the historic Concepcion del Oro mining district.

The results – Los Gemelos mine AREA (94 samples):

· Analyses from 94 new samples were received for the Los Gemelos mine area, bringing the total to 139 samples YTD.

· The Los Gemelos mine is located four kilometers south of the San Jose target. Previous work at Los Gemelos by artisanal miners concentrated on the production of free gold associated with carbonate veins.

· Samples ranged from trace amounts of gold to 3.3 grams per tonne.

· 1 – Sample returned 3.3 gm/tonne gold over 2 vertical meters

· 5 – Samples returned a range from 0.5 to 2.3 grams per tonne gold:

· 2.3 grams/tonne gold over 1.7 meters

· 1.2 grams /tonne gold over 2 vertical metres

· To date, seven samples exceeding 0.5 grams/tonne gold have been reported.

The distribution of analyses from the area reflects the systematic nature of trenching and sampling in an area of the property, which has less bedrock exposure.

The Los Gemelos mine is located four kilometers south of the San Jose target. Previous work at Los Gemelos by artisanal miners concentrated on the production of free gold associated with carbonate veins. This work, carried out in the 1950’s, includes 40 metres of underground workings.

Highlights:

· Samples received to date range from trace amounts of gold upwards to 6.5 grams per tonne.

· The fact that close to 50-percent of all the samples contained gold (as per the first release) is very positive and reconfirms that several areas in these two locations are gold-bearing.

· The carbonate host rocks of the Los Gemelos mine area are located within the western limb of a north-south trending syncline, which trends south to the Canplats gold discovery.

· Galore intends to aggressively explore this geological trend for disseminated gold mineralization, using Goldcorp’s nearby Peñasquito deposit and Canplats’ discovery as models.

· Although the core of the syncline is covered by sediments, the Upper Cretaceous Caracol Formation, the host rocks of the Canplats discovery, is interpreted by the Geological Survey of Mexico to overly these carbonate rocks in the core of this syncline.

· Galore intends to aggressively explore this geological trend for disseminated gold mineralization, using Goldcorp’s nearby Peñasquito deposit and Canplats’ discovery as models.

· A third shipment of 103 rock samples has arrived at Acme Analytical’s laboratory in Vancouver. Results are expected within two weeks.

I think the president’s comments on the combined 310 samples YTD summed it up quite nicely:

“We continue to receive encouraging gold results from our Dos Santos project. This confirms that a gold-mineralization event has occurred on our property. We are currently planning the next phase of our program, which includes a percussion drilling program to test a large target area of our property. The potential for this target area, which is covered by overburden and has never been drilled, is supported by our structural, stratigraphic and sampling work,” said Michael Byrne, Galore’s president.

I would be interested to get some feed back and here some comments from some of the more senior gold investors out there…..

Does Galore’s progress this far look to be developing in a similar pattern as Canplats did prior to them announcing there MEXICAN discovery?

Thanks in advance for the feedback.

Second ASSAY Regards,

Tommer3