Significant gold resource - Excellent infrastructure

Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.

Message: Any news from Vancouver?

Thanks for being patient. I think the most significant thing that I can report is that Canplats was being mentioned by the heavyweights in panel discussions and in workshops, Canplats is no longer a secret and has not been for a while. Rick Rule, PVE, Brent Cook, Michael Berry all had positive comments on Canplats and some were recommending a buy, even at the current SP. In a dismal environment for junior mining companies, the market rewards those that have made significant discoveries and the oxide zone at Represa is one such discovery. So all of this current chatter is just about the oxide zone at Represa and their views are based upon just the value of the oxides... nice!

Let me quickly summarize what I learned from Blaine Monyahan and Bruce Youngman.

1. They are cutting off drill results in July that will be used in the first 43-101, in other words the resource estimate will be based on assays up to those received in July. The 43-101 will be out this year, in the fourth quarter. Specifically they said "by the end of the year" but suggested it could be sooner than the end of December.

2. A RC drill will be replaced by a DD rig soon. Deep Represa and Don Julio are the focus of the current and near term drill plan. As they interpret IP and other exploration information from the other targets, drill locations will be chosen for those targets

3. The expansion of the property holdings were based on an analysis on public domain GP (mag data) structural analysis, reconnaisance work (discovery of Camino Rojo Dos came like Represan a color change in the road-side). They are excited to have doulbed the land holding and have high hopes for the new "blue sky".

4. No core to look at. I teased them that I had paid extra to bring my hand lens and that i was sending them a bill! But really this is a subject that carries great importance and belongs in a pre-feasibility study... how does the gold occur in the rock. It is intimately tied to the response of the rock to cyanide heap leaching, if they have an idea about this subject and I think they do, they will not discuss the topics of geochem, alteration patterns, or gold grain-size. I understand and did not push, giving out this kind of information is pre-mature. I have given them a few suggestions on how they might get a glimpse of the gold grain-size. So what have I learned on these questions of gold grain-size? Nothing specific about Represa, but on the near by Dos Santos project of Galore Resources (just 25 km away), on their web site, they show a local artesian miner crushing rock with a sledge hammer and panning coarse gold from surface outcrops. You make the call, but I caution drawing any inference about Represa from an outcrop 25 km away. I have asked twice now about this topic and will now just wait for them to release metallurgical results when the time is appropriate. My experience and curiosity leads me to ask these questions and the professionalism of the Canplats team is reflected in their reluctance to discuss these topics before the proper time. Hats off to them.

5. They will release more information on the new property map and GP soon.

6. They are still considering the pros and cons to a shareholder right plan.

7. They are actively considering listing on another exchange. They would not comment further. My speculation is that since there is such a strong tie to Silver Standard and given that Silver Standard is listed on the NASDAQ exchange...

8. As far as the strategic planning for JV, or selling to a major or other options, the comment was they will do what is in the best interest of maximizing shareholder value.

That is what i can report at this time... all is good and the attention of the world of mining is focused on Canplats. As I reported from Vegas, they have been approached by senior mining companies but are not in a hurry to talk with them and have not entered in to any formal talks with a senior.

Unlike the Vegas show I stayed and interviewed numerous companies with an eye to make other investments. I focused on those that were mentioned in workshops and panel discussions. I selected one that I feel has great potential soon and bought a position. If you are interested in what I learned, go to the off topic section of this hub and I will make some comments.

As always, this is not investment advice, I may have misconstrued what was told to me, I have done my best to accurately portray the responses of Canplats to my questions. Please do you own DD and base your actions on your own research. I had a great time and met some smart and savvy people. I want to thank them for sharing their insights and for the introductions to PVE, Michael Berry and others. THANKS!!!!!

Now to the off-topic board.

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