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In the following brief excerpt from the Gold And Precious Metals Report, expert analysts discuss the outlook for the sector and for investors.

Pierre Quilliam has served as Chief Executive Officer and a Member of the board at Silver Falcon Mining Inc. since the company's formation in 2007. Before that, Mr. Quilliam was a board Member and Chief Financial Officer of Dicut Inc. from 2001 to 2006, and Chairman and Chief Executive Officer of Dicut from January 2006 to October 2007. He also serves as a Director and Officer of Goldcorp Holdings Co. since November 2003. From 1975 to 1980, Mr. Quilliam established and operated Outico Ltd., a reseller of industrial tools and mining equipment. Since 1980, he has established and managed numerous companies in various capacities, including finance, consulting, accounting and management.

TWST: Would you give us a short history of Silver Falcon Mining? Then, please bring us up to date as to what's gone on since we last spoke with you.

Mr. Quilliam: Briefly, we started in 2007, when we had the opportunity of acquiring a lease on gold properties on War Eagle Mountain in Murphy, Idaho, in the Owyhee Range. This property is part of the Three Sisters Mountains in the Owyhee Range in Idaho. The Florida and the DeLamar mountains were heavily mined by Kinross Gold in the past. We subsequently filed about 1,000 acres of claims with the Bureau of Land Management for mineral extraction. Since then, we've acquired the services of numerous heads of geology, mining engineers and related disciplines. Mr. Roger Scammell, who is a well-renowned geologist, heads our program. We've contracted with Mr. Rick Walker, another geologist.

We are also on the edge of hiring a permanent geology department head for the company. And we are also looking at establishing an overall plan on core drilling in the War Eagle area, so that we can develop a three-dimensional picture of the inside of this mountain to better understand where the gold and silver veins are exactly, and their composition and their value - subsequent to which the mining engineers that are on site will decide as to methods and ways of accessing those veins. In the mean time, we have bought a 20-acre property at the foot of the mountain on which we have established a mill, which operates on a 24/7 basis.

This mill presently is processing ore from the old dumps on the mountain. This mountain had been mined sporadically since the 1870s, and until about 1900s, early 1900s, when a succession of financial disasters in the world brought it to a standstill, and then was sort of forgotten about with the wars and so on and so forth. The old tunnels were all stripped of whatever metal they had for the war efforts. Back in the 1980s, a consortium of Chinese bought the property from a delinquent bank loan and decided after a few years of ownership that mining was not for them. They were more in the investment field than in the mining field. So they turned around and sold it.

TWST: In a recent press release, the company announced it is seeking bids for underground exploration at Sinker Tunnel. What depths are you talking about drilling and is any of this surface mining?

Mr. Quilliam: First of all, the mountain in the winter months is inaccessible due to the depth of the snowpack out there. But in the summer, of course, we will be doing surface drilling next year. But in the mean time, we own a tunnel which is directly under the mountain and crosses the main veins of gold and silver in the mountain, and this tunnel is at a 5,200-foot level, where winter is relatively mild and the maximum amount of snowpack a year is three feet. This tunnel is in pure granite, has been refected and inspected and so on. And our plan is that upon production of a drilling model by our geologists, we are going to put out for bid this coming month for the core-drilling companies to go in and start from the inside of the mountain drilling upward, downward and sideways to evaluate where the veins are exactly and their contents in gold and silver.

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