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Orko Silver Presentation

George Cavey, Director, P.Geo of Orko Silver on 1/22/2008.

Yale Simpson, Exeter 11.30.07

Yale Simpson, CEO of Exeter Resources on 11/30/2007.

Acadian Mining

G.W. (Will) Felderhof – President, CEO & Director

Avino Silver

David Wolfin, President, Avino Silver on 12/5/2008.

Minefinders Presentation

Mark H. Bailey, CEO of Minefinders Corporation Ltd. on 6/19/2007.

Paramount presentation

Larry Segerstrom, COO of Paramount Gold Corp. on 9/22/2007.

Galore Creek's World Class Copper Deposit

We attended the 2006 Denver Gold Forum. The theme was symbolized by a road sign warning “Mergers Ahead.” This reflected our opinion alerting shareholder’s of the unsupportable tender offer of NovaGold Resources Inc. (AMEX, TSX: NG) by Barrick Gold Corporation (NYSE: ABX). Both company’s presentations are well worth attending and revisiting. We were interested in ABX management’s presentation and specifically the calculation of their acquisition of Placer Dome. We were particularly interested in their inclusion of copper which has not received sufficient attention. See full report.

NovaGold Resources Inc. (AMEX, TSX: NG)

Etruscan Resources Inc. (TSX: EET)

Minefinders Corporation Ltd. (TSX: MFL, AMEX: MFN)

Acadian Mining Corporation (TSX Venture: ADA)

Mercator Minerals Ltd. (TSX: ML)

Alexco Resource Corp. (TSX: AXR)

Sonic Foundry, Inc.’s (Nasdaq: SOFO)

Paramount Gold and Silver Corp. (AMEX,TSX: PZG)

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