The letter from Rick Mark dated May 9 stated this:

We are currently completing additional drilling at our Sails Lake project following up on discovery hole SA-10-007 and a recently completed Induced Polarization geophysical survey. Results from this program are expected in two to three weeks.

I would say we are due this week for some news.

ck.

Can't take credit for finding this, from the "other" board, courtesy of "nopoo" (wtf?)

http://aheadoftheherd.com/Newsletter/2011/A-Second-Discovery-At-Reed-Lake.html

I believe when the NI43-101 came out, HBM announced it at close on March 31st followed by VMS announcing it on pre-market April 1, 2011. I would like to think it would be the same this time around. Probably explains the nice little run this afternoon. This is big news, perhaps a small gap up...??

ck

From HBM news today after hours!! looks like they've got another new zone on the option property!! 7.18metres at 7.44% CU at 133metres!!!

HBM released news.

Reed Copper Project

Pursuant to a joint venture with VMSVentures Inc, ("VMS"), HudBay has a 70% interest in the Reed copperproject, which is a high-grade near surface copper deposit that could beaccessed via a ramp with the ore trucked to HudBay's Flin Flonconcentrator.

A feasibility study and the technical activitiesrequired for permitting, including metallurgical and geotechnicaltesting and mine design, are underway with the expectation of aconstruction decision by year-end.

Two surface drill rigs arecurrently operating near the Reed project. These drills are testinggeophysical targets on properties optioned from VMS to HudBay. A recenthole, RLE004, intersected two short sections of copper mineralizationhosted in both basalt and rhyolite volcanic units and associated with aVTEM conductivity and magnetic anomaly. A down-hole EM survey conductedon hole RLE004 indicated two zones of stronger conductivity away fromthe hole. Hole RLE006 tested these anomalies and intersected thefollowing zones of mineralization:

-- 7.18 meters (133.89 to141.07 meters) of 7.44% Cu, 0.23% Zn, 0.48 g/t Au and 7.57 g/t Ag --44.49 meters (214.00 to 258.49 meters) intersected of 0.79% Cu, 0.39%Zn, 0.16 g/t Au and 1.58 g/t Ag

Holes RLE004 and RLE006 arelocated approximately 1.8 kilometers northeast of the Reed project andrepresent a separate mineralized zone. One drill will continue to testthis new zone once helicopter support is established. The second drillwill continue to test other targets on the option properties.

the best part of this news release is the quote: "Drilling was included up to February 2011"

We know they are still drilling like crazy, this number will increase moderately if not substantially in due time.

ck

Well this is sure nice to see the volume and upward trend the last couple of days. If that bid size of 206,000 at .58 doesnt give you confidence, I don't know what will. If we can get some good news in the next week who knows where we will go. Particularly, good news on their 100% owned properties will make VMS much much more valuable. Patience is finally paying off.

glta

CK