Correspondence with Chad regarding Future Drilling Plans at Cove, etc.

Hi Chad,

Congratulations on your continued drilling success at the Helen Zone! Your recent press release indicated that you will soon start drilling hole 15 at the Helen Zone - I would assume in this case this will be completed sometime near the middle of May with drilling results reported by month end - assuming you don't encounter any drilling problems. Has VIT made any definitive plans to re-drill several holes at the Helen Zone that encountered bad ground? Will you need drilling results from hole 15 before your company makes any final decision to re-drill those holes?

Am I correct in assuming that VIT will not be doing any drilling at Dublin Gulch and Santa Fe until after your merger is competed sometime in mid to late May?
It appears to me from analyzing you budgeted cash flow for 2009, the majority of your new drilling activity will start with Dublin Gulch and starting in the second half of 2009 you will commence drilling at Sana Fe.

Thanks for keeping me informed.

Tom Smith


Your timing on NW-15 is appropriate (based on what we know today of course)

We will decide on deepening NW-9, NW-12, etc after NW-15. Those holes are riskier because of the anticipated technical challenges of going through existing holes (some have steel rods stuck in them, rock is shattered, etc)

That’s accurate on timing of other properties (again based on what we know today). Remember that we don’t NEED to drill the Eagle Zone because it’s already at 2.7 mm ozs. We also have Mill Canyon, Big Springs, Summit, etc.... !!!

Chad