From Frank Barbera's Tyhee report last spring:

"Alternatively, the nearby Clan Lake deposit has already had over 10,000 metres of diamond drilling with a 1,045 bulk sample from the property taken in the mid-1960s grading 14.50gpt. An historical resource estimate of 600,000 ounces of gold to a depth of 1,000 meters was calculated on the basis of 10 million tones grading 1.89gpt, and included an even higher grade resource of 3.60 million tones grading 3.43gpt containing 390,000 ounce of gold. According to Dr. Webb, “Tyhee believes that the published resource of 600,000 ounces is an ‘order of magnitude’ calculation designed to provide an estimate of the potential of the established showing. It is reported as a “global resource” as opposed to the ‘Measured, Indicated, and Inferred’ categories required under NI 43-101 regulations of today.” Continuing his comments, Dr Webb noted that “our goal will be to confirm Clan Lake mineralization and report it in compliance with current guidelines.” For those who are new to the mining industry, the NI43-101 regulations were imposed on the Mining Industry in the wake of the 1998 Bre-X Scandal and enforce a higher standard of proof in terms of stating mining results. In the case of Clan Lake, the project drilling activities were done “Pre-Bre-X” with the post-Bre-X collapse of the mining industry shuttering all work on this project, and for that matter, many others. The point here is that ‘Pre-Bre-X’ drilling done on Clan Lake would have been taken at full face value as the global resource calculation was the standard of the day. Taking a property from “global resource” into “NI43-101 compliance” should be, under most normal circumstances, a relative ‘no brainer,’ which means Tyhee recently acquired as much as 600,000 ounces of Gold for only $10,000. What’s more, it is believed that the Clan Lake property has very substantial blue sky where the total resource calculation could be greatly enhanced with more drilling. Importantly, both Goodwin Lake and Clan Lake show a continuance of the high-grade ore that is common in the Yellowknife belt with high grade mines demonstrating superior economics. However, the identification of the volcanic breccia type of mineralization typical of the Ormsby Zone could substantially improve the tonnage possibilities."