Winter in the Great White North Message Board

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Strategies & Market Trends : Winter in the Great White North

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To: russet who wrote (4304)	3/11/2003 3:01:41 PM
From: ralfph	of 8273

XCL- has wishy washy news.Stockwatch News Item X-Cal Resources Ltd XCL Shares issued 58,958,583 Mar 10 2003 close $ 0.63 Tuesday March 11 2003 News Release Mr. Shawn Kennedy reports X-CAL RESOURCES LTD.: SLEEPER UPDATE AND NEWS FROM LANDER COUNTY Sleeper gold property, Humboldt county, Nevada The Sleeper gold project is being advanced. The drill is currently operating in the mine site area and is expected to test several targets there over the next few weeks. New data from early-stage targets (Chicken Track and ZZ jr.) located east of the mine site are being incorporated into X-Cal's propertywide map. Drill holes have confirmed the presence of the Sleeper gold system in these locations with detailed analysis still pending. Mill Creek property, Lander county, Nevada A recent Placer Dome quarterly report noted that a "geologically prospective area" is being tested with multiple drills in the Cortez joint venture (CJV) area in Lander county, Nevada. There has been substantial new staking in the area. As a claimholder in the area X-Cal is awaiting further announcements with interest. The company's 100-per-cent-owned Mill Creek property is located over the next lower plate window northwest of Placer Dome's Pipeline gold deposit in the CJV area. (Cortez and the Pipeline gold mine's are both located on lower plate windows.) X-Cal's Mill Creek property has a drill hole intercept of 10 feet of 0.52 of an ounce per ton Au and untested lower plate drill targets. Several offers for the property by a major company have been made, but were not considered to be realistic by X-Cal's management. X-Cal's Mill Creek data are being distributed to its exploration team for review and drill hole permitting. Exploration team X-Cal has assembled a team of experienced Nevada gold finders at a time when reserve replacement is important to the industry (as reported in Stockwatch Feb. 14, 2003). The addition of a new team member is under discussion. Perhaps i am reading too much into the trading action . I find the downward trend and lack of drill results as very negative. Mind you this is the kind of action that WSP had before the evaluation per ton came out. blahh ralfph

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