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Gold and Base Metal Projects (Ontario and New Brunswick)

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Message: quiet before the storm

There's no doubt, bushwhacked, that Nash Creek is the crown jewel of the company, but you're right about the potential of the Fort Hope area gold properties.

If you look at the Opikeigan/Fort Hope property map, there's a number of gold showings visible. These showings for the most part are on a trend. When I was with Noramco, we always believed that there had to be some major "feeder system"/vein to these showings. There's a lot of high grade "sniffs". With extensive exploration work, hopefully thicker veins or sections can be discovered which is a great possibility as veins can pinch and swell or "splinter".

The big impediment to exploration is the lack of outcrops and thick overburden on these properties. Geochemistry and geophysics have helped outline anomalous areas and lineaments, but drilling (as opposed to stripping/trenching) is relied upon to test these anomalies along strike and depth.

So, we continue to await results from Nash Creek, and there will be a steady stream of results from the extended 10 000 m program. I think it's also fair to assume that results will be similar to those of the past - up to 40 m thick intersections of grades up to 3 % zinc. Once drilling does begin on the Fort Hope/Opikeigan area zones, as you suggested, anticpiation and speculation should generate some interest and price appreciation in the stock.

I'm sure that there will be some very encouraging results from both areas over the next few months, results that will propel SLAM to a valuation that it warrants.

Have a good Easter weekend!

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