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Gold/Mining/Energy : Fairmile Gold

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To: Douglas Simpson who wrote (3976)	10/8/1999 10:24:00 AM
From: Steve Stakiw	Read Replies (2) of 4057

Doug, Answers to your questions. > Hello Steve > What is the story now? Some easy questions to get the ball rolling? > 1. At what price does the price of gold have to be for FLA to be economically mineable with the already 600,000 oz gold. A feasibility study has not been completed on the main A/B/O Complex at the Buffalo Valley Project so an operating cost has not been established. > 2. What is the possibility of a reverse split? When would it take place? What form would this split take? At the last AGM, the company received overwhelming approval for up to a 5:1 share consolidation and associated name change. This has not yet been implemented but remains an option for management. >3. When will FLA change their name and what would it be? see above >4. Are there plans to issue more stock? Fairmile may issue stock as part of any possible upcoming private placement. >5. What money does FLA have coming in right now? Fairmile has received some funds from the joint ventures with Echo Bay and Hecla and the lease exchange with Newmont. >6. Will FLA be involved in any mining shows or featured in any investor magazines? When Where? There are presently no plans for any mining shows at this point. We have been contacted by the Northern Miner regarding the Hecla Joint Venture of the Highland Project so we could see an article in their newspaper. > 7. What kind of potential is at the highland property? How does FLA benefit from this JV? Highland has geologic similarities to bonanza-grade epithermal gold/silver systems such as Midas, Sleeper, El Penon, and Kubaka. FLA benefits by advancing Highland at low risk to FLA, and FLA participates in the work program. > 8. What progress has been made with Newmont? What kind of news do we expect hear? Fairmile and Newmont have closed the previously announced lease exchange at Buffalo Valley. Newmont releases data to FLA annually. > 9. What progress has been made with the Echobay JV? What kind of news do we hope to hear? Echo Bay has been conducted detailed mapping and sampling programs to help identify potential drill targets. > 10. Now that the POG looks better, what are some possible scenarios of what may happen with Buffalo Valley? Obviously, with the commodity price improvement, it improves the possibility of attracting a joint-venture partner for Buffalo Valley. Fairmile continues to evaluate possible joint venture partners.

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