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Gold/Mining/Energy : Fairmile Gold

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To: Douglas Simpson who wrote (3700)	10/9/1998 7:48:00 PM
From: Steve Stakiw	Read Replies (1) of 4057

Doug, answers to your questions on this latest round of drilling. Steve Is there an english version of the news release that is available for us to read? The results from this latest round of drilling have indicated that gold mineralization has been extended on Target L and there is a strong possibility that the existing resource of 600,000 ounces at the A/B/O Complex could be expanded. 1. Can you give us a better understanding of these numbers at each hole drilled and what they mean in terms of possible gold? The results from the assays indicate that drilling intersected zones of gold mineralization of significance in four of the holes. Hole F98-4 intersected 85 feet of 0.021 oz/ton gold (0.72 g/T Au). Hole F98-6 intersected 40 feet of 0.041 oz/ton gold (1.41 g/T Au); and intersected 85 feet of 0.034 oz/ton gold (1.17 g/T Au) including a 10 foot intersection grading 0.140 oz/ton Au (4.80 g/T Au); and also returned a further intersection of 45 feet grading 0.037 oz/ton Au (1.27 g/T Au). Hole F98-7 intersected 5 feet grading 0.062 oz/ton Au (2.13 g/T Au); and also returned 15 feet grading 0.017 oz/ton Au (0.58 g/T Au). Hole F98-8 returned a long intersection of 165 feet grading 0.018 oz/ton Au (0.62 g/T Au). The scale of this recent drill program does not allow a gold resource to be calculated for Target L. What was indicated is that there appears to be another area showing continuity of gold mineralization extending to the northwest of the A/B/O Complex. 2. Significantly higher grades of mineralization occur at feeder structures. What potential do feeder structures hold in this situation. Feeder structures (typically faults) provide conduits for mineralizing fluids to enter rock units and to permeate into them (this is very simplified). Feeder structures also tend to contain higher grade mineralization than the surrounding rock, thus there is the potential of zones or pods of higher grade mineralization within the envelope of lower grade mineralization. This has implications when one is at a stage of calculating reserves as the higher grade zones improve the economics. 3. Potentially the Buffalo Valley gold resource could be expanded to .... I cannot provide you with an estimate at this stage, it is too preliminary. The property has a number of untested areas which hold good potential for resource expansion. 4. What kind of JV partner will FLA look for and what kind of followup could be possible? Fairmile Gold is seeking a senior Joint Venture partner which can bring forth operating experience. Regards, Steve Stakiw

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