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Message: Some points I'm sure management wouldn't want us to forget...

mikxx1, that is an awesome summary & post.

Here is another example from old posts, and the G&S report, actually it's weird how I can't open that file any longer?

Anyone else having trouble opening the G&S report?

Anyway, do you all remember this one? (2.5 Million OZ ):

(This is a cut & paste from the past)

Gluckstein Silverspoon report on Sli June 22, 2010. Indicates reserve estimate of Tesoro not including Anomalies.

Full report at:http://www.steliasmines.com/storage/news_releases/SLI%20Analyst%20Report%20-%20June%2022,10.pdf

ST. ELIAS MINES [TSX-V: SLI]Drill Program to Ramp Up on Tesoro Gold Property;

Setting initial price target and NAVPS estimate

TABLE 4

. Tesoro Project Reserve Extrapolation Method

Scaling Factor Determination from Section of C1 Vein

Key Inputs:

Length

100

meters

Width

0.5

meters

Depth

100

meters

Density of host rock (quartz)

2.7

Tonnes/ meter^3

NI 43-101 Inferred Grade

29

grams/tonne

Estimated Ore Tonnage

13,500

tonnes

NI 43-101 Inferred Ore Tonnage

4,290

tonnes

Scaling Factor

32%

Tesoro Project Reserve Estimation

Key Inputs:

Total Corridor Length

9,500

meters

Width

0.5

meters

Vein Depth

600

meters

Estimated Ore Tonnage

7,695,000

tonnes

Scaled Ore Tonnage Estimate

2,445,300

tonnes

Total Tesoro Project Reserves Estimate*

2,519,151

ounces of gold

* at assumed NI 43-101 grading of 29 grams/ tonne

Source: management and GS estimates

For purposes of our analysis, despite the Tesoro Project's vein structures descending to depths of up to 1000meters, we conservatively assume an average depth of 600meters in our ore volume calculations. By multiplying the volume of the vein corridor by the density of the quartz host rock, we arrive at our Estimated Ore Tonnage figure for the entire Tesoro Project, which we then discount by the 32%scaling factor to more accurately reflect inferred results from the 43-101. By applying the 29g/T grading from the 43-101 to our Scaled Ore Tonnage Estimate, we arrive at our Total Tesoro Project Reserves Estimate of 2,519,151 ounces of gold.

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