I recently sent an e-mail to Courtney Shearer who is a director of SGR. I will post my questions to him and his response, however again we must realize that forums are rumour mills and this was a private message and like wise is a private response and should not be construed as official company information. It is only a directors candid response to a shareholders concerns.

My e-mail

To: Courtney Shearer

Subject: RE: SP and 43-101

Good morning!

I totally understand what you are saying about the redundency of the

43-101 and I have stated that fact many times on the Agoracom

Forum,recently I posted a 2009E that was available through Dundee Wealth

Management. I know you avoid the blogosphere for your own good reasons,

however I have found the SGR blog quite informative and balanced as we

have a good group of regulars that seem to have a good understanding of

mining and investing issues. That said, if Shaun at IR is telling

everyone the 43-101 will be out by the end of September and Dale said it

will be out within weeks in Denver and as you just said because the bulk

sample is 1oo% accurate I do not understand why the suppossed cutoff of

the hinge at 1300 vertical feet cannot be released. The blogosphere at

Agoracom has totally been prepared for a number slightly north of

600,000 ounces up to 1.1 million however the problem seems to lie with

the credibility of management. Twice in the last two months I have had

to respond to posters that have suggested Dale is a Liar and I just

read another the other day.

This was Courtney's Response

I do all the tradeshows for SGR and have been promising the 43-101 since

last November so I am included in that club of "misinformation" and not just

Shawn (and I am a director so should be better informed).

I guess that people are entitled to their opinion on whether Dale is a liar

or not. Those are pretty strong words considering there are many factors to

running a company and many decisions that seem contradictory. I would stick

to the issue of the true value of a 43-101 value and also that SGR has been

delivering on share value creation, even if the production is behind

forecast along with the 43-101 report. Are people expecting better quality

of resources from the 43-101 than the bulk sample? Dundee has a report that

actually shows all of the analysts estimates for the Hinge so far - these

are quite educated people making these estimates and not the Company.

Running 10 drills and discovering gold in most all the holes takes a long

time to process since you have to log every core if there is mineralization

and that all dictates which direction you go on planning your development

work and also aiming your production stopes. The discovery of the Hinge

actually delayed our production for this year since a fair length of time

was spent developing the Hinge Mine ramp taking time and resources away from

the Rice Lake Mine.

The decision was made that the increase in assets would outweigh the value

of the production cash flow. Do you think that isn't a hard decision to

make? Our stock has gone up from $0.57 to over $3.30/share in that year.

What would it have gone up based on production cash flow instead? We're

thinking that the $500 million in market capitalization growth was better

than the value that would have been given to the cashflow multiple.

Once the Hinge Mine is on-stream with full production faces, then the ounces

will really start to pile up for the Company. The new drilling down deep is

also a good indicator that Rice Lake does parallel the success of Red Lake

but it will take some time for people to realize the significance of the

deep drilling there and the additional mine-life that we are adding with

bigger widths and richer grades.

I think that overall, even with these faults of delayed production and

delayed 43-101 report, we have delivered fairly well to long-term investors

and there is more value to be had in the stock.

I do, however, read the blogs to see how stupid I am sometimes in case I get

too "full of myself".

Best regards,

Courtney