Whaler,

Keep after it. Those of us who are ISM stockholders appreciate it, and the only ones complaining about your work are not ISM stockholders.

With regard to the anticipated 'update' of the 43-101, I have the following expectations and opinions, but don't presume to speak for other ISM stockholders.

The NR from Ian in mid February indicated that an updated 43-101 was anticipated in 90 days. To me the word updated is a key word. I believe that word means to revise something due to new data or conditions.

Based on that I expect the indicated resources assigned to L1 an L2N to be revised due to additional drilling, price changes or some other change.

There has been some drilling on L1, which should result in some increase there. I do not believe there has been any additional drilling at L2N. The price increase of Nickel since the original report should result in some increase, but based on a review of the Price Sensitivity in the Micon report it will not be substantial.

I, for one, will be very susprised if the Indicated at L1 and L2N are increased by 50%.

There has been more drilling in the NW on the Allertson area, as well as additinal drilling on an area between L1 and L2. When those are added to Exploratory holes in those areas, it will probably not be enough data to bring the resources in those areas to Indicated status, but will be sufficient to be counted as Inferred.

Because of the size of the Allertson area, if these additional areas are not able to be included in the Indicated category, I am expecting the Inferred range to double

With regard to Phase 2 of the Micon charge, I believe it is way too early to try to make those calculations. Allertson needs to be finished to determine if it is truly larger than L2N. It would then be the place to start for Phase 2. Because of the possibility of open-pitting all of these areas, their locations in reference to each other could effect the pit designs and possibly the order of selection.

With regard to L2N, without an agreement with LBE, the pit would have to stay away from that boundary, and at this time the Phase 2 results would include only the resources that could be recovered while complying with this limitation.

While this boundary issue is a limitation on the southern end of ISM's L2N area, boundary issues are probably close to a prohibition on LBE's recovery from L2. L2 is a collapsed mine and would probably not be available for re-entry for underground mining. I would think it would be susceptible to open pit operations in the same fashion as one of LBE's current operations and as proposed by MIcon for L1. Due to the size of that claim, and being surrounded on four sides by ISM, an open pit is probably not possible without some resolution of this issue.

So, while cooperation on the boundary issue would be helpful for ISM, it is probably essential for LBE to be able to mine their claim.