CVR: V Consolidated Viscount Resources - Ringer??? Message Board

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Gold/Mining/Energy : CVR: V Consolidated Viscount Resources - Ringer???

CVR 9.080

+0.9%

10:25 AM EST

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To: Mike Campagna who wrote ()	6/6/1997 5:39:00 PM
From: Tom Byrne	of 409

Hello CVR Shareholders! Sorry about the length of time between updates. With all that is going on I can't seem to find the time to slow down and write about it all. We have announced the start of the drill program on the Carbonear property located on the island of Newfoundland. This target ranks as one of the best undrilled prospects in Canada. The Economic Development Office of Newfoundland has contacted us about our work and asked to be kept abreast of developments. They remember when Cominco owned the property and continue to think there is something big there. We hope they're right. There is a saying in the exploration business "You don't have a good property unless at least one major has walked away from it." For example, four majors had looked at the DFR/Inco gossan and ignored it. One of our shareholders was with Cominco H/O when they were working on the Carbonear. He remembers the excitement in his office about the potential of the Carbonear. He also told me about the sense of panic in the financial department when the smelter they had just spent a huge sum of money on didn't work. All exploration budgets were cut and the Carbonear was one of them. We are starting to drill next week and because of the nature of sedex deposits, we will learn a lot from the look of the drill core. It could be an exciting time for all of us. I know you are all curious as cats about Mexico, so here's the news. Len and Eckhardt met on May 25th, and Eckhardt promised production as soon as humanly possible. Two factors have been responsible for the delay. One is that one partner has been slow to put up their part of the money. We refuse to carry them through their obligations and have given them extensions to pay their share of production start-up. The other reason is the vein in the Escandalo adit and shaft shifted and we had to relocate it. A series of underground drillholes has located the vein approximately 50 ft away and drifting toward the vein will begin soon. Kennecott has drilled several holes on our Chirimoyo property and we are attempting to get information. All our projects look good and are going forward. Although the markets are tough, we are optimistic that our projects will take our stock back up. That's it for now. I'll be back soon. Tom

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