San Gold Corporation

I think San will be back north of $5.00 after the end of the 1st Qtr. Production is at a steady rate and the 007 direct access portal is done. Just some observations from my time in Bisset in December. They have had to process a lot of development ore last year. The new portable crushers appear to be handling the ore more effeciently and the new air and heating systems caused some problems during construction due to the early extreme cold. Problems typical to new mines. They have now totally developed 3 completely new mines and rehabed an old mine that was gutted by the previous owner. 3 others including Cartwright, SG-2and SG-3 have been discovered. Drilling continues with 6 drills turning 24-7. 2011 will change the opinion of a lot of analysts on San. The low prices have been a good buying opportunity.

JMHO

HM