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San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.

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Cyan, thanks for jumping in. Yah, San has sure been faced with alot of mining challenges over the past few yrs . San new from the past that things we"er tough (

3.5 PERIOD 1998 TO PRESENT

After acquiring the assets from the receiver, Harmony Canada invested approximately

$30 million to establish a ramp system in the lower part of the D-Shaft area in order to

establish a longhole stoping operation. Harmony operated the mine for three years (See

Table 3.1) and put the project on a care and maintenance status in August 2001.

A. C. A. Howe International Limited

Rice Lake Joint Venture, Report on Bissett Mine February 2004

 Page 3 - 3

The longhole mining method was not applicable to this type of deposits. When compared

to the San Antonio shrinkage mining operation, the Harmony operation produced less

ounces from more tons per day and failed to achieve the corporate objectives of the

parent company Harmony Gold Mines Limited of South Africa.) and finding the low hanging fruit ( hinges ) change there mining plan to incorporate these near surface structures. Development, and from what we heard equipment changes were needed along with tons of cash to correct these problems so who knows we"er we sit other then what we are told/not going forward. without prejudice Traps7

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