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From: John McCarthy	7/29/2009 8:30:39 AM
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6/9/2009 GOZ Updates (Q & A) GOZ GOZ.V Alexspushkin26/9/2009 9:04:46 PM \| \| 372 reads \| Post Just sharing some information from HQ: Q1) When will the updated resource estimate be released? A1) The target date is late June for the release of the reserve/resource statement. The engineers are working very closely with Wardell Armstrong on completion. It is very close to being completed. They have reserves and resources for the open pit, and resources for the underground. They only need the underground reserves to be 100% complete. This is an expensive, time consuming process. Q2) Are there any initial results on the new Knelson Concentrator ? A2) The Knelson Concentrator (KC) ran a few days in April – just before the plant shutdown, but it was just some trail runs. They started it up again on May 7 and during the period May7 to May 31 it recovered 123.5 ounces of gold. They are waiting for the KC technician to come from Canada to Bjorkdal to help fine tune the process. The plant guys think that they can optimize the process with the technician assisting them. It appears they can get a rapid payback (a few months?) on this machine. It was installed downstream of the gravity circuit and just before the flotation circuit. Thus the gold is either being robbed from the flotation concentrate or removed from the tailings (enhancing recovery). The screen size analysis indicates some of the gold is too large to be floated and thus they know that the recovery is going up. Also, the KC gold pays higher than the flotation gold because of the cheaper refining costs for the KC gold – thus they are winning in 2 ways. The conclusion is that they are quite pleased with the performance of the new KC! Q3) The Feb 4th press release indicated that the “estimated capital investment budget for 2009 is C$3.4million”. Does this include the purchase of the new concentrator? If I recall correctly, it was being rented until proven economical. A3) The capital budget did include the KC. They are quite sure that they will be buying the KC. The initial results show a quick payback and may even improve after the KC tech spends some time with the GOZ plant people. Q4) When will the first batch of results be available from the underground drilling? A4) They have drilled 12 holes and have results for 8 holes. They should putout some results when they have 10 -15 holes with results. Q5) When can we expect to hear about the current Tellurium recovery testing? Is there any chance that plans to install a recovery circuit might start in 2009,or are we looking at 2010? A5) Glen Dickson is working very closely with the metallurgical laboratory on the Te separation process – it continues to move forward and they are actively spending money on the recovery tests. The earliest they could install any circuit is 2010. stockhouse.com CRACKER

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