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: Disappointing

The results are good and we're expanding the potential size of the resource. The share price is undervalued for the established resource estimate even without considering any upside potential. What I've observed for the past few weeks is accumulation by some of the brokers behind the PO, an eroding share price and a weak market depth on the bid. There was no heads up on this news which should have triggered an up spike. The share price is tracking the TSX Global gold index and the Comex gold price in the same direction for the past month - downward. My take is that we're caught up in the uncertainty with gold prices and will see a recovery when gold establishes a clear uptrend. I'm not ready to fold them just yet.

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