Those questions are hard to answer, it is based on market expectations and some sort of calculation of how many ounces we have. The hot topic for the last month among some of us is a conceptual model approach where JT could step out of 43-101 regs and state that he believes the current evidence supports X M ounces of gold. When GBB did this and declared they believed they had between 2.4-2.6M ounces, their SP gained substantially on this news.

Now JT has said in private conversations that he believes we have between 5 and 10 million ounces of gold. He is currently working with the top TSX compliance officer to be able to announce a conceptual model without crossing any legal boundaries. JT is a very conservative geologist who is getting more and more comfortable with what we have here at GNh. Combining that with clear signals from the TSX as to what is legal or not will hopefully permit him to step onto this conceptual model platform and announce to the market that we have 5-10 Million ounces. If he does this, I think a SP of $1.50 or more is very possible assuming assays support what he is saying.

Assays here do not need to be stellar, we only need 1.5-2g/t average as we are working the tonnage angle more than the grade angle. As such, hitting quartz in every hole so far makes me very comfortable that the tonnage is there.

Glorieux