Just some feedback I got today, the ground geos are very excited about this target E1, they feel it is a large system and are working as fast at they can to strip the area.

Having those big targets, up to 25m in diameter and graphite outcrops means there is a really good chance that we have substantial amounts of graphite at this location. Now they have outcrops so my guess is they will get chip samples and send those in for assays fairly quickly-if they have not already. Then as they expose the veins at surface with the stripping program, they will sample that. We may also get an idea of size just by the amount of graphite they can expose at surface. Then the drill comes on and we find out if those juicy blobs are graphite and what grade they are at. Then we have another 10 priority targets and 82 secondary targets to explore over the 100 sq km belt that we own. If E1 is as great as it looks, being away from the original Miller mine by 750m will confirm the regional belt and the spec value could go through the roof, even with the large warrant overhang.

The market is not getting it yet and we are seeing artificial selling from the ZEN crowd selling CCB to buy ZEN. There is no question that ZEN at $2.15 is a great deal however, I believe that over the summer, CCB will out perform ZEN by a wide margin and here is why I think that: CCB is in the spec phase working hard on the property and are showing that it is a very prospective property. We already know that the high grade graphite can be anywhere from 30-80% grade so it will not take a huge amount of tonnage to have a very robust resource (we may never drill it to to 43-101 standards, just go into production most likely). This constant flow of news combined with site visits with brokers/analysts/news letter writers accompanied by some luck with the drill will keep CCB in the forefront of investors minds and that should lead to a steady increase in the share price.

ZEN on the other hand has 2 anchors around the neck at the present time: a delayed PEA which we will get an update on the timing in 5-7 weeks. From my perspective, this PEA is huge for ZEN and will show the world how valuable this deposit is. If I was running the show, the last thing I would want is to release this very crucial report while everyone is on holidays. I think ZEN will find a way to stretch this out till September to be sure that they get the most bang for the their buck.

The other issue is the elephant in the room...Cliff's selling. They sold 200k shares last week and have enough market trades this week to double that if they maintain that pace tomorrow. At 400k per week, it will take 12 weeks or the whole summer for Cliff's to unload their whole position. If this is trully their intentions and no one comes in to do crosses, this will keep a lid on their price all summer. We should know tomorrow if those marker trades are really Cliff's selling and if that is confirmed, things could get uglier in the short term for ZEN.

I choose to maintain a large position in ZEN because those are long term funds for me and I believe ZEN will get a ridiculously rich PEA with an IRR over 100% and that it will get bid up rapidly when that comes out. There is also a chance for an offtake agreement or other strong news to come out over the summer so I do not want to be caught without shares. However, I do believe CCB will give me a better ROI over the next 2 months and is why I support them. If they do get lucky with their exploration program, they all bets are off and they could give ZEN a run for their money. The great thing is there is plenty of room for both these companies to do very well.

Good luck to everyone!

Glorieux