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Message: Smelter Royalty

The GEZ deposit is where production has come from the last 2 years or so.

To see the GEZ and M Zone deposits in relationship to one another in plan view

go to AEM's website: DC Operations Mines graphic/DC Goldex graphic/DC Geology $

Mineralization heading left side of page. Scroll down to plan view graphic under

Deposits heading for an outline of the GEZ Zone deposit and the M Zone deposit.

In a previous message I posted and you responded to I noted there was a report

issued by Innovexplo Inc some years ago showing elevation views noting two deposits

- the GEZ and the Main Zone.

The important thing to note in the AEM plane view is the property

line bisects the M-Zone and if projected north to the GEZ deposit just clips the

left end indicating that Probes portion of the GEZ is very very small - only 100,000 tons.

Its the M-Zone that is important to PRB because 2/3 rds of it is on Porbes side of the

line -about 850,000+ tons @ .073 opt.

These elevation and plan views line up so I am assuming the M-Zone in the AEM plan

view and the Main Zone in the Innovexplor, Inc. report are the same.

It must be remembered that all the figures I'm noting are based on 7/8 year old

data which by now is probably outdated.

I've tried talking with the AEM people for clarification of details and they are very

unresponsive. They are pleasent enough individuals in conversation but they really

dont give you any substantive information which in some ways is understandable.

AEM is a dynamically growing mid-cap company. They probably fear that one of these

days somebody is going to make a run at them. So they reveal information to the bare

minimum.........eom.

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