I made a post a few days back about where I beleived Hog had told me both the CB and the Vilcoro had potential of 1 million ounces. It wasn,t Hog, but, The Don, that had told me that at last years AGM. I just confirmed this with him and he said he did the math on the Vilcoro and it looked possible to him. He also said that 170,000 ounces were proven up on the Queva Blanca by the original owners, ( I think I quoted him correctly), with the potential for a million ounces.

I never did look into depth at either of these properties of ours because the Tesoro showed me enough reason to invest. I beleive at this time, maybe we should be looking at the Vilcoro a little more. Inti Gold has the Cueva Blanca option, but it still gives value to the SLI shares. The Vilcoro is now back 100% in SLI,s hands and all drill permitting in place, ready to go.

Here are some old articles/news releases of the Cueva Blanca property, look at these and you will see how the grades have become economical and may have just put this into open pit mine status.

These old articles are courtesy of the lovely Mrs Cramer, she dug them up for us.

TABLE OF CONTENTSMar 27 - Apr 2, 2000 Volume 86 Number 5 - 0 comments

St. Elias to drill Zona Verde

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2000-03-27

Channel sampling on the Cueva Blanca gold property in Peru is allowing St. Elias Minerals (SLI-V) to enhance a promising new gold zone.Situated in the northern portion of the property, the Zona Verde prospect has been outlined over a 1.4-km-by-300-metre area, and the mineralization is said to be open in all directions. Following up on encouraging results from the Discovery outcrop, including 47.12 grams gold per tonne over 9 metres, the company carried out 1.6 km of trenching over the new gold-bearing zone. About 400 metres of trenching have been completed over the Discovery outcrop, with the following results: - 0.17 gram gold over 20 metres;

- 0.18 gram gold over 20 metres;

- 0.25 gram gold over 18 metres;

- 0.33 gram gold over 15 metres;

- 0.17 gram gold over 18 metres; and

- 0.21 gram gold over 20 metres.

The remaining 1.2 km of trenching were completed along strike of the newly discovered zone. The highest values, in the northern portion of the zone, were 0.42 gram gold over 20 metres and 0.23 gram gold over 10 metres.

Some 300 metres north of the Discovery outcrop, check assays have confirmed the previous gold values of continuous chip samples over a 65-metre length, with check assays returning 0.5 gram gold. On average, the check assays returned 0.52 gram gold.

According to St. Elias, gold mineralization is hosted in a friable rock unit comprising limonite and clay-altered feldspar and is controlled by a north-northwesterly striking fault known as Quebrada Falla. Based on the phaneritic texture of the mineralizing unit, the original rock is believed to have been a coarse-grained intrusive.

St. Elias will continue chip sampling in an attempt to define the limits of the new zone in preparation for drilling, scheduled to begin in June.

The 110-sq.-km property covers a large epithermal alteration system in the Yanacocha-Pierina belt of western Peru. Inca Pacific (ip-v) worked the property in 1997 and drill-tested a zone of sheeted quartz-carbonate veins known as the Cruz system. The best intercepts included:

- 9.5 metres grading 8.1 grams gold per tonne in hole 17, and

- 10.8 metres grading 2.4 grams in hole 21.

St. Elias can earn a 49% interest in the property from Inca Pacific by paying US$50,000 in cash, issuing 500,000 shares and spending US$1.5 million on exploration, all of which must be completed by November 2001.

TABLE OF CONTENTSJun 26 - Jul 2, 2000 Volume 86 Number 18 - 0 comments

St. Elias targets Prospecto Lado

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2000-06-26

An ongoing channel-sampling program on the Cueva Blanca gold property in Peru is allowing St. Elias Minerals (SLI-V) to enhance a promising new gold zone.Situated south of the Zona Verde prospect, which has been outlined over a 1.3-km-by-300-metre area, the junior has encountered higher-grade gold mineralization at the Prospecto Lado target. Trench results from the southeastern portion of the target have returned 1.22 grams gold per tonne over 9 metres, 1.47 grams over 6 metres, 2.15 grams over 15 metres and 0.58 gram over 6 metres. According to St. Elias, gold mineralization is hosted in a friable rock unit comprising limonite and clay-altered feldspar and controlled by a northwest-striking fault known as the Quebrada Falla. All of the trenches straddle the unconformity between a Cretaceous tonalite to the north and Tertiary volcanics to the south.

A program of auger-sampling over a 300-by-200-metre area at Prospecto Lado is currently under way. It will be followed by a reverse-circulation drill program of 3,000 to 5,000 metres.

The 123-sq.-km property covers a large epithermal alteration system in the Yanacocha-Pierina belt of western Peru. Inca Pacific Resources (ip-v) worked the property in 1997 and drill-tested a zone of sheeted quartz-carbonate veins known as the Cruz system. The best intercepts included 9.5 metres grading 8.1 grams gold per tonne and 10.8 metres grading 2.4 grams.

St. Elias can earn a 49% interest in the property from Inca Pacific by paying US$50,000 in cash, issuing 500,000 shares and spending US$1.5 million on exploration by November 2001. The company can then earn a further 21% interest by paying US$250,000, spending an additional US$2 million and completing a bankable feasibility study.

TABLE OF CONTENTSMar 5 - 11, 2000 Volume 86 Number 2 - 0 comments

St. Elias outlines zone

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2000-03-05

Channel-sampling by St. Elias Minerals (SLI-V) has outlined a promising gold zone at the Cueva Blanca property in western Peru.The 110-sq.-km property covers a large epithermal alteration system in the Yanacocha-Pierina belt. Inca Pacific (IP-V) worked the property in 1997, when it drill-tested a zone of sheeted quartz-carbonate veins known as the Cruz system. The best intercepts included 9.5 metres grading 8.1 grams gold per tonne in hole 17 and 10.8 metres grading 2.4 grams in hole 21. St. Elias can earn a 49% interest in the property from Inca Pacific by paying US$50,000 in cash, issuing 500,000 shares and spending US$1.5 million on exploration by Nov. 1, 2001.

The newly discovered Zona Verde prospect, in the northern portion of the property, has been outlined over an area measuring 800 by 250 metres. To date, St. Elias has collected 22 chip samples from this area. The Discovery outcrop trench returned 11.1 grams gold over 6 metres, whereas the Discovery expansion trench returned 11.4 grams over 15 metres. The median average for all the samples, excluding the high-grade samples from the Discovery trenches, was 0.2 gram gold per tonne.

Some 300 metres north of the Discovery outcrop, continuous chip samples over a 65-metre length returned 0.5 gram gold. A further 300 metres north, chip samples returned an average of 0.25 gram gold over 100 metres. The mineralization remains open in all directions.

The gold mineralization is hosted in a friable rock unit consisting of limonite and clay-altered feldspar and is controlled by a north-northwesterly striking fault known as Quebrada Falla. The phaneritic texture of the mineralizing unit suggests that the original rock was a coarse-grained intrusive.

Chip sampling will continue to define the limits of the new zone.

St. Elias recently closed a $150,000 private placement by issuing 750,000 units at 20¢ per unit.

The company has also arranged for a non-brokered private placement of $60,000, issuing 200,000 units at 30¢ per unit. The $210,000 will be used to continue exploration on the Cueva Blanca property.