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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: mark silvers who wrote (8508)	1/23/1998 3:07:00 PM
From: Jerry in Omaha	Respond to of 20681

Mr. Silvers; You posted, "At this point no one, not JIMMY, PAUL, FRED, or anyone, knows how much, if any, alluvial ore is contained within the boundaries of FL." You're right. This just becomes another positive feature we will be investigating as we continue to explore the playa during our on-going exploration. The alluvial deposits, or preliminary indications thereof, count as a distinct "plus" for the good guys. Jerard P

To: mark silvers who wrote (8508)	1/24/1998 3:04:00 PM
From: Tom Frederick	Read Replies (2) \| Respond to of 20681

Mark, you make a very important point and based on that point, I believe that Naxos will continue to be open to any avenue of exploration on the property. That is to say, they will continue on the drilling and exploring the maximum value of the Johnson method, but if the FL property does prove to have alluvial ore as well, that will be an ADDITIONAL exploration effort, not a switch. This piece of land seems to have given us a quick peek into the great riches it holds and we won't have to wait much longer at this point to get a much better picture of what is in store for us shareholders. With the other labs coming on stream very soon (maybe news next week?) and 4 more COC holes still to test, the information flow should be picking up speed and regularity in the coming weeks. It has been a long time coming, but Naxos has indeed done the right things, albeit not on our schedule. Jason was asking about what will happen in the next 12 months. Well it was over 3 years ago that I was told in a very sincere voice "naxos by June!" (Sorry Patrick and Tom C., it wasn't your fault) Having said that, the many variables in this stock have always revolved around the never ending search for the method of assay and recovery that would finally uncover the PM's as FL. Well that issue is largely solved and now we are in the testing and fine tuning stage. How long could that take? It is hard to say, but my opinion at this point is that in no more than 6 months, after a substantial volume of testing on all the BD holes, recovery starting at the FL facility and new drilling and testing well under way, it will be very hard for those who are serious about being in the gold business to ignore Naxos any longer. This is presupposing that there will be reconfirming tests showing over 1 opt averages in the testing areas. It is really down to the "roll up your sleeves" work at this point in tandem with the "get in front of the right people will a well prepared presentation" stage and the rest is up to market to decide. I am hanging in to the end. Naxos hasn't lead me wrong on any substantial issue regarding PM's at the property and that is the most important issue of all. Regards, Tom F.