Chromite:

As discussed, Blackbird 2 is being drilled so that the 43-101 can be prepared on both BB1&2. The Chromium is THE story up there. Up to 12 majors are asking for information and doing DD (this info was not from Joe). Joe believes the Chromium producers are getting nervous/scared and although they may end up taking a run at the Chromium in the RoF, he believes the Chinese greed will be a bigger factor and may the ones that acquire the area. However, he said no one will put up any serious money until 43-101 is done along with metalurgical studies. The 43-101 he expects by late 3rd quarter or 4th quarter. The metalurgical studies he believes he will have by late June, July time frame. Once all this info is public then thing may get interesting but a lot of work is still needed at this point. We are still early in the discovery phase.

Fourth drill:

The 4th drill will be going up in the north section of the RoF, inside the intrusion where his hope is to find some copper possibly in association with Gold. A fifth drill will be going north of FWR to go after targets in that area. He did not specify if this is going to be Chromite, nickel, gold etc targets.

He did say he expects to get some PGEs with the Chromite, probably not a lot but that it will add to the value of the deposits.

End of Part 3,

Glorieux