I also attending the presentation today and I concur with your summary. Nice job!

A couple of additional comments.

1) CA(Confidentiality Agreement): KXL are more public today than they were several months ago and open to discuss the fact they have 8 signed agreements. This is a positive reflection and acknowkedgemetn from the Majors that KXL exploration is going well.

2) The Company is controlled(more than 50%) by the Managment, Directors and business partners. This means KXL Managment have no pressure to sell any part of the assets at what we may consider is undervalued . We know KXL are looking to maximize shareholdervalue and are also reviewing the most tax efficient means to disperse the potential sale of the assets.

3)Strong institutional support, how many Juniors can claim to have such a prominant list of insitutional holders? The remaining stock is tightly held by the retail investor. For those looking to purchase large blocks will be challeneed at these price levels and therefore the supply-demand relationship will drive the SP higher. All we need is one or two investors from Dubai to participate and the SP will build momentum. So good Luck to Brian and Bill on their trip to Dubai.

4) We all agree KXL have done a great job of exploration and have a land package that is the envy of the Junior community.

5) 43-101 is really not relevant. Remember, Gold Eagle sold for $1.4 Billion to Goldcorp. Gold Eagle had only one property. KXL is a mutual fund of Juniors. Here is the point, the Majors have their own mathematical models and techniques to assess the resource potential. Shareholder money is better served by KXL identifying targets and quickly moving them thorugh the phases of initial exploration to Resource Delineation. As an investor I will be closely watching the EXploration Project Pipeline. Ultimately, this will dictate the value of KXL. Compare the EXploration Project Pipeline to that of several months ago and you will get a flavour of the hgihest priorit targets. This is not to say that those projects that wer on the list several months ago and did not make the current list are bad, its a simple matter that KXL have so much to choose from. These options are smply fantastic. Again, how many juniors have the option to chose and prioritize their projects. For the most part most juniors have a single target. This is a point I belevie, we cannot underestimate.

6) As I mentioned in one of my previous emails, I was obsolutely impressed with the progress KXL has made between my June to September visits. I was and am excited about the Golden Mile( or mulitple miles) but this in conjunction with MAKI Midas and other stand alone projects is at times difficult to contain the excitement! Each one of these are Company makers.

7) On the point of Cash: Great job to KXL management of reducing their operating costs. No question they are in control of their destiny and having 2 years of cash on hand is a phenominal position. Imagine not to worrry about raising cash for two years. This is again great leverage for those Majors who think KXL needs to make a deal today. The strong cash position allows KXL to continue to selectively drill and build resource potential. More data means increased share price

8) Although there is significant ground and field activity lets not forget that the Board and the dirctors are not sitting idle. As Bill Chornobay told me one day, there is the equivalent activity going on in the boardroom. This is typical of many companies. KXL are going to consider all options including the possibility of becoming a producer. Why not? A good Management team will review every option to maximize shareholer value. This is an outcome I am sure the majors will not like. But all the majors need to do is come up with the right offer and I am sure we would abandon the idea of becoming a producer.

Lastly, I remain a strong and a long term investor of KXL. I know a few others who feel as I do and are committed to KXL long term. We will let Bill and Brian do what they do best.