TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

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Message: $500 per ounce?

I've been using a conservative cut-off of 1 g/t for my estimates but it will be very interesting to see what PDG ends up using. If you check the 2004 resource estimate you can see about 1.25 million M&I oz with a 0.34 cut-off. My recent searches indicate you can use M&I&I for a scoping study(PEA) but feasibility studies can only use reserves(P&P) or measured and indicated. Inferred resources can't be used. I think most of the 20,000 m program will be for resource upgrading as opposed to adding resource. That will benefit the feasibility study. I'm reluctant to give a number for the revised estimate as I've been disappointed too many times with this stock. Good price and volume action. Let's hope it builds until the report is released.

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