Total Measured plus Indicated 2,469,610 0.34 (11.7) 828,105

Total Inferred Resources 6,211,660 0.29 (9.9) 1,814,870.... from this last news we see

Rice Lake Project

Total Proven and Probable Reserves 2,615,055 0.29 (9.9) 767,125...This category is saying yes we have the gold and we are not lying ..I guess it takes some of the heat off of the boys. ..Mineral resources

Mineral resources are those economic mineral concentrations that have undergone enough scrutiny to quantify their contained metal to a certain degree. None of these resources are ore, because the economics of the mineral deposit may not have been fully evaluated.

Indicated resources are simply economic mineral occurrences that have been sampled (from locations such as outcrops, trenches, pits and drillholes) to a point where an estimate has been made, at a reasonable level of confidence, of their contained metal, grade, tonnage, shape, densities, physical characteristics[3].

Measured resources are indicated resources that have undergone enough further sampling that a 'competent person' (defined by the norms of the relevant mining code; usually a geologist) has declared them to be an acceptable estimate, at a high degree of confidence, of the grade, tonnage, shape, densities, physical characteristics and mineral content of the mineral occurrence.

Resources may also make up portions of a mineral deposit classified as a mineral reserve, but:

• Have not been sufficiently drilled out to qualify for Reserve status; or
• Have yet to meet all criteria for Reserve status [3]

[edit] Mineral reserves

Mineral reserves are resources known to be economically feasible for extraction. Reserves are either Probable Reserves or Proven Reserves. Generally the conversion of resources into reserves requires the application of various modifying factors, including:

• mining and geological factors, such as knowledge of the geology of the deposit sufficient that it is predictable and verifiable; extraction and mine plans based on ore models; quantification of geotechnical risk—basically, managing the geological faults, joints, and ground fractures so the mine does not collapse; and consideration of technical risk—essentially, statistical and variography to ensure the ore is sampled properly:
• metallurgical factors, including scrutiny of assay data to ensure accuracy of the information supplied by the laboratory—required because ore reserves are bankable. Essentially, once a deposit is elevated to reserve status, it is an economic entity and an asset upon which loans and equity can be drawn—generally to pay for its extraction at (hopefully) a profit;
• economic factors;
• environmental factors;
• marketing factors;
• legal factors;
• governmental factors;and
• social factors [4].