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Gold/Mining/Energy : Fairmile Gold -- Ignore unavailable to you. Want to Upgrade?

To: Douglas Simpson who wrote (3647)	8/14/1998 1:26:00 PM
From: Steve Stakiw	Read Replies (4) \| Respond to of 4057

Doug, Answers to your questions 1. How many shares ( exactly ) have the directors etc acquired in total? Directors, officers, etc. have approximately half a million shares (approximately 2 million shares fully diluted). I do not have the exact figures, these can be retrieved from the Alberta Securities Commission. 1a. How many shares are there outstanding to date and how many shares will there be fully diluted after the PP? There are approximately 25 million shares issued and outstanding. An exact number will be available when the announced private placement closes. There are no warrants in this or the last private placement so there is no dilution beyond the share issuance. 2. Could you please give us the details ( exactly ) of how the moneys were used for the last PP? The majority of the funds 80-90% were used in property expenditures (property payments, increase in claims, exploration). 3. Are the JV partners out of the picture now? We do not presently have a joint venture partner, discussions with potential partners continues and interest remains high. 4. Is there any connection between the last PP and this one? Both private placements were facilitated to fund property expenditures. 5. I have noticed that there is an ongoing ad in The Northern Miner. What other plans do the Big guys have for promoting the company? Beyond the Northern Miner ad, we have a corporate profile in The Mining Research Report, a publication which has a circulation of 30,000 throughout the U.S. and Canada to both brokers and retail investors. Fairmile will be appearing in the next three issues of this publication as well, one of which will be a two page profile/review. 6. When will the Web site be updated? I wish the average trading volume was 40,000, however it is not even close. Thanks for reminding me, I have neglected to update those figures on the home page and will send the updated information to the web hosts. 7. How much more do the hope to find with the new drill program? Is this possibly another, should I dare say it, "Antler Sequence" The upcoming drill program at Target L on the Buffalo Valley project will be aimed at near surface oxide gold mineralization which could contribute to the existing 600,000 ounce gold resource at the adjacent A/B/O/ Complex. I cannot give you predictions on how much more gold may be discovered. Fairmile is optimistic in that it appears that Target L is related to the same intrusive (mineralizing heat source) as the A/B/O Complex. The Antler sequence (the lower plate carbonates) appears to lie very deep (+2000 feet) in the most prospective portions of Buffalo Valley, and drill programs targeting that depth can cost hundreds of thousands of dollars per hole. Fairmile will not be drilling these deep targets at this time. 8. When Tom Kelly sold his shares back in 97, how many did he actaully sell and at what price? Just curious! I think it was posted once however I cant find it. This info is available in a previous post, here's the link Message 3490396 9. What is on Tom Kelly's agenda for the next six months? Will he be on a vacation or will he have to cancel a couple of T-off times to write another earth sharttering report? Both Tom Kelly and Joe Kizis have been working very hard at keeping the work/financing programs moving forward and at securing a joint venture partner. A lot of time and effort has been and will continue to be spent in discussions with potential JV partners. This includes work onsite, data reviews and evaluations. Regards, Steve