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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)

TWG 4.030

-1.2%

Jan 30 9:30 AM EST

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To: Ronald P. Margraf Sr. who wrote (117)	1/9/1997 1:18:00 AM
From: Ronald P. Margraf Sr.	of 495

TO ALL <UPDATE>!!!!!!!!!!!!!!!! <PART 1> <to be continued> Sorry folks for not getting back to you all sooner. Felt that there was no reason to harrass the golden goose until some time lapsed and they had some time to get something going and after the holidays went by. Well here is what I have found out as of 14:00 est. Let me see if I can get this all straight and I hope that you will all be pleased with the progress that is being made. Let me see where I will start. Had a long chat with them today and I think that I asked some tough questions and I think that I got some straight answers. Huuuuummmmmm, O.K.. Lets start here. Oh, do you want the good news first or the bad news? O.K., I'll give you the bad news first.------------------------ 1) No drills on site as of yet. Still identifying drill site locations. Enough of the bad news. Now for the good news.---------------------- Q. What is going on with the drill program? Are they in place or have they been mobilized yet? A. No. We are still defining the drill targets. We have 4 geologists now taking stream sedimetry samples, rock chip samples and grab samples. 2) COWs ------------------------- Q. Do we have the COWs for the work necessary to start the work? A. No. For the properties that we have that we are going to start first they are not nescessary. All requirements to have access to the properties. at this point have been fulfilled. The other ones that we have aquired we have SIPS. So as it stands at this point in time we can proceed. Q. Are you sure that we don't need COWs to start work? We wouldn't want to see another BRE-X. A. Not a problem. The gernerals properties have a different land tenure. 3) Outlook, time line for some sort of action, results.------------ Q. When do you think that we will have some info on what is going on over there? When do you think the drills will be in place and how long before we will see some results that may impact the stock price? A. Herman has just returned from Indo. and I haven't had a chance to meet with him. That will happen tomorrow and the next 3 days. I will be better able to answer your questions next week. Please get back with me early next week. I would like to talk to you after I have talked with Herman and have been updated. I do know this that the geologist are very excited with what they have found so far and Herman has told everyone to be very tight liped until they get all the results from their work that they are doing at the present moment. Mums the word. (I added the mums thing). Q. So what you are saying is that things look pretty good? A. What I'm saying off the record is that everyone is very excited it what they are and have found so far and Herman wants to leave it at that until he can put it all togeather. 4) Information to the shareholders and the gerneral public.---------- Q. So when can we hear something from the company? A. Herman wants to put a progress report togeather verses a news release to prevent alot of hype from happening and he will sort of water it down and give it a more informative with commemtary verses, WOW we found the pot of gold at the end of the rainbow thing. He doesn't want the stock to go crazy and have all these extream moves (makes sense to me). Well folks that is all for tonight, theres more but you will have to wait until tomorrow. Been along day. So sleep tight and don't let the shorties bite. If they short this one, they might get a little shorter (cash that is). So so far it looks like we might be in for some real excitement. Oh by the way there is more in point # 4 but you will have to wait for the conclusion on this until tomorrow. Your going to like what I have to say. May the stock gods smile on us. Ron P.S. There is alot more so stay tuned. Ask questions as we go along, it might help to reduce the replies. Sounds exciting to me. Haven't been this excited since I met my first girl and almost got my first piece of ***. Like I said almost. R

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