Although most of this is not new, I thought I'd pass it along anyway:

PEM looking to prove out 1 m+ ounces at Friday Petsite with a potential far (emphasis added) exceeding what they think they will prove. It is hoped that the remaining 9 drill test results will indicate continuous mineralization. Hope to do an independent resource estimate in January-February 2011 for release by end of Feb. Meanwhile, their in-house estimates continue to grow. Believe that 1 m + ounces has major development-mining interest in Friday Petsite. Have not missed on any drill test so far. Multiple crosscutting intersecting structures appear to exist at Friday and elsewhere. They are "very excited" with what they know and expect Friday petsite will prove to be. Also, even more excited with multiple other locations with potential equal to or greater than the current location, at multiple other locations.

Recent trip to visit-present to other institutional investors was a total success. All have become buyers. More to come in the weeks ahead. Interest is growing. They are scheduling additional presentation visits. "Very busy."

PEM is more convinced the entire Orogrande Shear Zone could be seen as a new large mining district. Forsees great possibilities and continued growing interest as Phase 3 drilling ends-winds down and "in-house" resource estimates grow.

VLC issue is not seen as significant. Abundent evidence that PEM has worked the area for about 3 years, put in time, made monetary investments, got results, did plan development, did modeling, did exploration, well documented, other field work, airborne, first rights, etc., followed by sudden staking by VLC while PEM was finalizing their work. VLC and PEM have discussed the issue. Information about how, when, or if it gets worked out was not shared. (Specifics were not provided).