A couple of things caught my eye this week regarding the optioning of the Chance F claim as found in the news release. I quote as follows:

"The optioning of the Chance F Claim not only allows another company to fund initial exploration but will also provide valuable geological information regarding the Tesoro Gold Project area," states McClenahan."

And the first year expenditures on the project by are as follows:

"88 Capital Corp.'s first year commitment under the option agreement is to pay $50,000 to St. Elias, issue 250,000 common shares to St. Elias and incur $150,000 in exploration expenditures on the property."

I have no way of knowing how much exploration $150,000 will buy in a year but that does not seem like a lot of money (and thus work). That in itself is not that much of a concern to me but when you combine that info with Lori's comment on the work providing "valuable geological information regarding the Tesoro Gold Project area" it seems to imply more time, more waiting as most of the expenditures will not occur until year two and year three.

My shares are staying in my hands, it is not that, but I have lost all optimism on anything soon. It may still be a few years. As far as I know the deep drills have never been called for meaning evidently they have no idea yet where they want to put them. (I am sure some will say that is because they do not need deep drilling, they have already proven up all they need for a world class discovery but just have not released the info yet. Well that would be nice.)

I am sure this sounds negative but as I said my shares are where they have always been, in my pocket so to speak, and I have even thought about buying a few more. In time I think we will be okay but that is the big question—how much time? All I have really said here is that I no longer expect news (the big breakthrough we are all waiting for) anytime soon. When I first bought in last summer the big breakthrough was expected last fall. Experience has led me to where I am at today in my expectations.