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Gold/Mining/Energy : Golden Eagle Int. (MYNG) -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Lauder who wrote (8749)	7/8/1998 3:27:00 PM
From: the Chief	Read Replies (2) \| Respond to of 34075

HI Patrick. To declare "proven". Fencelines must be a minimum of 250m apart. Each fenceline must have drill holes spaced 50 meters apart. Take the areas in question which include the hillsides and determine the sample distances and spacings, ask yourself how many drill holes were done on the hillside? When you come up with the number "0" attach that to the "proven statement" and it immediately raises questions. You said:In my humble opinion, with all the shafts, steep hillsides, deep trenches, history, etc... the amount of samples seems reasonable. Also, why is it a previous geologist was able to put 5 million inot the proven category, are we assuming his report which we have not seen is not correct. I am not sure but I would imagine the Newmont and Barrick Directors had a look at Guido's report. Are you saying their experience could not see what you see? History has absolutely nothing to do with a "resource estimate". A Proven resource has to be "proven" using data collected. I can put any figure into a "non-proven" category because I am saying the property has a "potential for xxxxx ounces" This again has nothing to do with the mechanics of producing a "proven resource". I would suggest that in the case of a "placer deposit" rules maybe bent to establish a "surface trenching" resource (but only to the depth of the trench). I believe the inclusion of the mine shafts that produced the "third dimension" of 500-2500 feet pushed that flexability right out the window. I still maintain that if you have mine shafts, you can have "DRILL SHAFTS", this is probably why the SEC has concerns. I never bought the "unstable /angular" hillside as an argument. I have seen drill rigs perched on much more precarious perches !! If you can put a mineshaft in a mountain then I can asure you, you can extract a drill core too!!! Respectfully the Chief