I listened to the Conference call on the phone - it can be accessed by calling 1-800-642-1687 and entering the passcode 55306166. The call had presentations by George Pirie, Gestur Kristjanssen, Ian Berzins and Dale Ginn, with a few questions from listeners at the end - took about 20 minutes to listen to it.

George noted that they are on track to reach their production projection of 15,000 ounces for Q1; Ian Berzins was a little more conservative with an estimate of 14,000 ounces, noting that they lost 6 - 7 days when the cone crusher was down.

The call clarified that the capacity of the mill will be expanded to be able to handle 1600 to 1800 ton per day by the end of 2011. However, they are not saying that they will operate at full capacity by then - rather, they expect to be reaching about 1400 tpd by Q4.

In Q1 they were mining about 1100 tpd, but the mill was not operating at that level, so there are now stockpiles of ore waiting to go through the mill.

Ian confirmed that the grade processed in Q1 was higher than it had been in Q4 of 2010 as the ore coming out was from areas with higher % of gold content (around the "lenses" vs. previously more access mining).

I found Dale's discussion on the plan going forward the most interesting as he talked about the revised perspective of the operation with the continuity of the Shoreline Basalt trend which includes 334, L13, L10, 007 and 007E. These zones have been drilled from surface to a maximum of 500 metres, but horizontal drilling from the 26th level (4500' depth) and the 13th level (2400' depth) of the main Rice Lake Mine has found significant mineralization in the rock when it reached the Shoreline Basalt locations, suggesting that there may be continuous mineralization from surface to those levels. As well, the devlopment in the Shoreline Basalt trend now covers about 2 kms, but it extends east and west for up to 5 kms, so there is much more gold there than has been confirmed todate.

I think the call was a worthwhile listen.

NL