Del Steiner said late last summer, in 2010, that he felt the Friday Petsite resource count could go from from 550,000 to over 1 million oz as a result of the 2010 phase 3 drilling program. (They remain confident about the upcoming 43-101). He also opined that the Friday Petsite had the potential to eventually become a multi-million oz target.

Another PEM source told me on one occassion that PEM thought the Friday Petsite could eventually prove to have 4 million ounces. On another occassion the term used by PEM was a few million ounces. (Those were educated guesses as in "could").

PEM's geologist said that drilling, as of late summer, or early Fall, 2010, showed consistent mineralization in the hanging wall similar to Carlin style deposits, and that recent drilling results (up to summer-Fall 2010) confirmed the Geophysics & Magnetic Airborne deposit target locations. Now, today, with the recent drill results rolling in, PEM's geologist is so eleated he is "walking ten feet off the ground", according Del Steiner.

Last Fall, 2010, PEM said then that they had identified 4 targets for drilling along the OSZ.

Since early Fall, new assays show that they struck new pay dirt along the newly discovered "Monday" fault 300 meters to the west of the Friday-Petsite. Additionally, they confirmed increased resource expansion of the lower block under the Friday-Petsite. Both the step out drilling to advance the footprint (extent) of the Friday deposit as well as the infill drilling to advance the number of ounces has, continued 100% successfully, unabated.

I see the potential for gold spot price to perhaps double in the next 2-4 years, perhaps making unmined in the ground gold value reach $200, maybe $300, an ounce. I see the potential for the Friday Petsite to perhaps tripple, or more, it's ounces at the Friday-Petsite over the next couple of years. I see the potential for 10 million + minable ounces, at a minimum, along PEM's 28km OSZ property. This year, 2011 ???? So far so good! Hopefully, PEM's predictions prove accurate. We will know a lot more over the next several weeks. I expect share price to escalate, as general market conditions permit. There is not yet a reason to say that PEM's OSZ land holdings can not become a new gold mining dristict in North America. Indeed, as of today, there remains every reason why it can.

marwal