Good morning to you all. Please find enclosed the latest MIQ update with respect to drilling. MIQ wishes to advise that all preparations are complete at Railroad, including the preparation of pads, identified targets and proper permits.
Drilling had been delayed a few days due to excessive water on the property last week but the company does not anticipate this to be a problem as of this week. As such, the company reports that drilling is imminent and will be confirmed through official press release from the company.
Despite the weather delay, the company believes they are on schedule to release results at the end of July. Based on data compiled in the first half of 1998, as well as, the extent of the drilling program, the company is expecting a continuation of the results yielded in the 1997 program. To that end, the company is extremely pleased with the extent and quality of work that has been done since February of this year, which has been a massive cooperative effort between MIQ and Kinross geologists.
With respect to some drilling specifics, the company wishes to advise that 80-ton drills will be used in the 1998 campaign. These are bigger drills than those used in the 1997 campaign and have the ability to provide deeper results.
With respect to marketing efforts, MIQ was extremely pleased to receive its invitation to the Cannacord 5th annual Big Brothers Golf Tournament last weekend. This tournament is by invitation of Cannacord only and provided MIQ principals the opportunity to meet with Senior Partners, Brokers and analysts over a 4-day period. MIQ is confident that Cannacord will be a close follower of MIQ stock, which expressed confidence in the company's partnership relationship with Kinross.
Finally, the company also wishes to advise that its Annual General Meeting will take place in Toronto on June 29. Agora will forward specifics shortly but wishes to extend the company's invitation to all shareholders and investors.
As usual, we will follow up with further information as it develops.
Regards,
Agora Internet Relations Corp.
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