Timmins & Beardmore - Northern Ontario

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Message: March 19th...

Goldhaven

You said........Personally I think we will have to go back to the market for money to drill over the summer. Let's hope we can exercise some of these warrants/options to optain this much needed cash.

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When chatting with Mike Love at PDAC he stated, and I think the most recent financials confirm, that they have approx two million dollars to work with. Their summer drill program is for approx 3,000 metres all shallow holes of 100 metres or less. The current cost for drilling according to Mr. Love is $100/metre with expenses in. The lab cost for assays is $25/sample. This will give them plenty to work with for their scheduled summer drill program on the GE this summer. If I am not mistaken that two million was from their flow thru financing which they are obligated to spend exploring in Canada. As always I stand to be corrected.

cheers

killick








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