Dear VMS Followers,

Today, we announced that an additional $2.85 million has been added to our treasury. (See release below)

This reflects the joint venture agreement payment and the initial payments on our four option/exploration agreements with HudBay Minerals.

We now have approximately $12 million in our treasury.

Beginning with the just announced HudBay Reed Lake discovery drilling, we can expect a steady stream of drill programs in and around the Reed Lake discovery, and throughout our property package in the Flin Flon-Snow Lake VMS belt over the next two years.

The quiet summer market is ending at just the right time for VMS.