Chairman's Message 10 4 2012

Chairman's Message 10 4 2012

In our efforts to keep shareholders and investors up to date on our ongoing discussions with our joint venture partner, Xstrata, on plans for exploration of the Mary March property, we wish to report that a joint venture meeting with Xstrata has been scheduled for October 15th.

We are optimistic that, following this meeting, we will finally be in a position to commence diamond drilling.

Also, we will shortly receive results of an airborne magnetic/electromagnetic survey over the property, which we anticipate will provide additional base/precious metal conductive zones which will require drilling in the next (second) phase, probably in the new year.

We apologize for the interminable delay in resumption of exploration on the property. This delay is due largely to the on going, positive discussions with Xstrata.

As always we appreciate the patience and support of our shareholders, who share our frustration with the length of time it has taken to the start-up of drilling.

Harry J. Hodge, P.Eng,

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