Dear VMS Followers,

I'm pleased to send along our latest release on HudBay's in-fill drilling program. The results continue to confirm the grade of this deposit is eye catching and again points out that high grade copper is close to surface.

As I understand it, this will be the last result of HudBay's phase one in-fill drilling, which has all been within what we might call the "known" deposit.

What we expect next are the results of their drilling back from the step out hole, RLD-015 (announced December 10, 2010).

Since January, HudBay has been in-fill drilling, but this in-fill drilling is in the 210 metres between RLD-015 and the "known" deposit. HudBay has decided to include this new part of the deposit in their NI 43-101 report on Reed Lake. Their latest estimate on that document's publication is early April. This delay, which we are pleased about, provides for the inclusion of this "new" mineralization in the NI 43-101 calculations.

You should also know that we have been marketing our story for you very aggressively. I can safely say the last month has been the busiest in our history. We believe this is the time to prepare the institutional investment audience for the NI 43-101 report. And, we continue to build the retail audience.

John Roozendaal, Keith Patey and I were at the Money Show in Orlando, Florida, February 9-11. John and VMS VP Exploration and North American Nickel President and COO, Mark Fedikow, were in New York City February 14-16, including presenting at the Astrologers' Fund conference on the 16th. And, John and VMS COO Neil Richardson are currently on day 2 of a four day Ottawa/Toronto trip meeting both retail and institutional investors.

All that ahead of the full VMS team in Toronto for PDAC March 6-9. We will be sending an invite out this week to our annual wine and cheese at the Intercontinental Hotel on Tuesday, March 8. Also, this year we will be presenting the high grade Reed Lake deposit core in the HudBay core shack at PDAC, so you can meet our geo team with rocks in their hands. Those details are coming, too.

The stock price has moved nicely since we attended the Cambridge show in Toronto at the end of September five months ago. That was the first trade show we attended after our JV agreements with HudBay were signed. At that time, the stock was still below $0.30.

Today, we have approximately $16,00,000 in the treasury, HudBay drilling aggressively and expecting to develop Reed Lake quickly in a rising copper price environment, and our VMS team drilling our 100% owned properties nonstop in the coming months. We believe there is much more room for growth in our stock price and are looking forward to Reed Lake developments and our own drill results.

I appreciate your e-mails and calls and look forward to hearing from you soon.

Best regards,

Rick Mark
CEO