Baires;

I’m responding to your invitation for questions for DW.In fact, I have two. ...thanks for taking my questions.

(1)Why are the economics of the PEA and the PFS so radically different?For example at $750 Gold, the PEA IRR as 21.44% and the NPV was $143,5 million.However, at again $750 Gold, the PFS IRR is -7.7% and the NPV is -$75,1 million. …a $218.6 million difference in the wrong direction.Similar comparisons can be made at other gold prices too.There has been no significant inflation over the last 3 years; in fact oil prices are down substantially.I believe a 5% discount was used in both cases.What happened?I have to ask; was the PEA very inaccurate?

(2)In the PFS, it says “Archean gold deposits like the Yellowknife Gold Project are not easy to evaluate due to their limited lateral but significant vertical extent.”Is there any reason to think that Ormsby, or any other Tyhee deposit, is more likely to have gold at depth than “the average” Archean gold deposit?

GF3