Ecology + Economics

Message: October update 2010

In speaking with the company they are pleased to date with the drilling program at Rio Zarza however they have not yet found what they are looking for despite confirmation of their geological thesis.

Brazil manganese cash flow is to start in Q1 2011 and will increase in value as time evolves.

Condor property is still up for sale with some prospective interested parties. Not likely to get $9 million for it though.

The Mexican JV deal looks like it could actually become a mineable property as its a shallow deposit. Will take some 30 months before that could even be a reality but its a good bet.

They are planning to continue drilling Rio Zarza in January 2011 with some new targets they are working on and hopefully will find a sizeable gold discovery which is why they are there in the first place. So far all the geology points to mineralization there, they just have to find the source. Its still early in the exploration process.

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