On 6/25/09 1:02 PM, "Tom Smith" <thomas340@cox.net> wrote:

Hi Chad,

VIT's recent press release indicated that an adit may be built from the surface at our Cove property. Does that mean we are no longer considering draining the open pit and then putting in an adit from the bottom of the pit? I would also like to have confirmation that VIT has no plans on drilling any more holes at Cove until such time that we have an adit approved and constructed. At what point do you anticipate VIT doing a feasibility study for the Helen Zone at our Cove property - will it happen before we start our underground drilling at Cove, or after we have completed another underground drilling phase that could encompass 40 additional holes (a number that you have mentioned in the past)? At this point, if you don't run into any unforseen difficulties, is it safe to assume that VIT will be able to begin its 3rd drilling phase (underground drilling) within 12 months from now?

Your last press release did not include any details of your future drilling program. You have previous indicate that the first property to drilled would be Santa Fe. When do you expect drilling to commence? How many holes do you anticipate drilling during your first phase of drilling? Do you anticipate have multiple rigs operating or just one?Will the holes be deep like Cove?

I know I have expressed a lot of questions, but I can assure you that many of us long-term investors in VIT also have the same questions in their mind.

Thank you,

Tom


Tom,

We will be providing information on many of our projects (including all the ones you mentioned below) very shortly — you can expect a steady flow of news from us shortly and over the rest of 2009.

I ask that you — and all other investors — be a little patient please. We are aware of the market’s need for value-adding news and advancement of our projects in a timely manner.

Incidentally, I have heard concerns that VIT’s share price may suffer in the short term because of the early warrant exercise. In case that’s a concern for you, please keep in mind that about 2/3 of those warrants are held by Kinross...

Chad