PDAC UPDATE

I had a good meeting with Christine Kopr who by the way is a very attractive smart lady and Mike O the chief geologist at PEM.They both are very good at what they do.Christine is very up to date on the management end of the business and Mike knows were the gold is and how to find it.They took the time to help me understand what they are doing in terms of future progress at the Idaho Gold Project.

I was glad to see and get an understanding of were Mike wanted to infill the Friday with the objective of drilling up a 2 million oz deposit.He feels Friday has many more ounces in it .I consulted a retired senior Ex Newmont geologist and he was following PEM and the OSZ as his job with Newmont to seek out future grass root early discoveries for NEM to do M&A.He look at the update maps of the OSZ and was impressed at the size of KMs of structures.He told me that this type of shear zones are host to Kirkland Lake style open pit wilh multi-million oz deposits below at depth underground.In fact he said Friday was likely to contain many times more richer gold underground.I found this very interesting.He also was very impressed with the gold in soils running with the structures

He said PEMs shear zone is the kind of ground that is a company maker and that with the right kind of drilling multi million ounce deposits were highly likely to be found through the zone.This was music to my ears.He was also impressed with the grade in the lower block calling it "good Stuff".In all I felt that PEM is sitting on a major gold zone that one day could be one of the most important gold discoveries in the US in decades.

So it was very good to here that large miners are paying attention to the progress at the OSZ even though the market has failed to see this Kirk Land Lake style gold zone in the making.I visited another Idaho Gold company Midas Gold and talked with the Manager of Exploration.He too gave me a good insight to the projects they were exploring on. That too was very impressive the 6 million oz deposit they have to the south of PEM. I kind of felt Midas is about a yr to 18 months ahead of PEM with its advanced exploration.That made me ponder some questions is PEM the next Midas in terms of inventory of gold in the near future? Well the Friday foot print says maybe.Could Midas be one its way to a 10 million oz discovery? Maybe.In time could PEMs Friday be a 10 million oz discovery to the North of Midas? Maybe. Could it be that not just Newmont is watching PEM but rather a closer neighbour? Maybe.That I can assure you is not a maybe,its more than that.Could it be that Midas could take over PEM and create a 20 million ounce JR? in a very short term? Maybe they Midas has $75 million in cash.Would that kind of combination give Midas a near monopoly on any if not most all of the future gold production in the State Of Idaho?Maybe...If these maybes become fact how would Newmont or Barrick view ownership in a state monopoly that could rival the carlin trend?

This is were the maybes end.Readers of this may be the judge.

James Flannigan