Golden Hope Mines

Gentlemen - My conversations with Jim Tilsley led me to understand that the geochem data may "smell" gold at much deeper depths than we were first led to believe- he was actually thrown off by this at first. We used to think these assays would "smell" down to ~ 250 m but Jim believes they can sense gold at much deeper levels than these. As such it is possible that the Ascot/road zones (economical or not), lie over top of much richer deposits as predicted from his zone type description of the Ascot zone (ie ascot laying on top of T2 type zones). I believe it is possible that we have not drilled deep enough in the road/ascot zones to find the highest concentrations of gold identified by the geochem data- remember we think the deposit may get richer at depth. I also think that the deep drills may specifically address this question based on my understanding of how the holes were collared.

Best,

Scott