Timmins & Beardmore - Northern Ontario

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Message: 56 days into Golden Extension drilling...

"According to the April 15 press release the GE drilling program was supposed to be done in two phases " A 3,000 metre diamond drilling program is planned to commence in June and will be split into two phases. The first phase will target the high priority targets on Golden Extension. A later program, during the late summer or early fall, ..." .

It implies we should review the first phase results before continuing with the second phase so, yes, we are overdue for some results. The Paint Lake drilling program was also scheduled to start this fall."

Yes but this was likely the plan only until they finalized acquisition of CPW-v and announced on May 21st... then things changed... read the CPW-v management information circular... lots of talk and clauses re: 'lock-up agreements', disclosure of material events, material changes, etc... hence the lack of details in drilling announcement and lack of details about anything from SGX... once CPW-v is completely finalized and approved the cone of silence will be lifted. IMO SGX has likely drilled much more than 1,500m... they can and have every right to do this... they also had enough money to drill more than 3,000m before latest PP and CPW-v acquisition, so money not the issue.

I just hope... no more delays... keep the news and area news flowing for the rest of 2009... make the wait worth every penny.

red911

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