In this presentation, they confirm that the deep drilling has been successful at T1 and has traced T1 down to a vertical depth of 650m, a big jump from the 300m or so we had before.

They discuss how T1 is between 12 to 23M tons of ore grading 3g/t, possibly higher. So if you do the math as proposed, T1 alone gives us between 1.16 and 2.22M ounces of gold. If you take the average, you get 1.69M ounces of gold at T1 alone. This is not 43-101 compliant but they have some good drilling/bulk sampling info to base this on.

T2 gives us 8M tons, assuming 3g/t, this adds 770k ounces of gold. When combined together, we have 2.46M ounces of gold. With our current MC fully diluted being 72.5M dollars, this gives us an in situe value of $29.47 per ounce of gold from the known zone.

So, this confirms to me that we are at a bottom here in our share price. At less than $30 per ounce of gold, even in a conceptual model, considering our 100% ownership, the huge land position, the Quebec government's rich tax credits for exploration, stable political environment, strong BoD and management we are priced very conservatively right now. If we have even decent results coming back from the Snow White area, proving that we have another T1 type deposit our upside, in this gold bull market is very, very good. However, the risk if Snow White does not pan out as generously as we hope, is minimal based on the values of T1 and T2 and for that reason, we are a very, very good buy right now.

If you know you are right...sit tight. The market will know what we know soon enough.

Glorieux