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Gold/Mining/Energy : Darnley Bay Resources - DBL. VSE -- Ignore unavailable to you. Want to Upgrade?

To: billsmith who wrote (133)	2/23/1999 11:11:00 PM
From: Tom Cat	Respond to of 221

billsmith, I've been doing my DD on this very interesting company. Management looks for real and so is the potential of the property, the only concern I have is that DBL will have to go for financing before they drill a hole in the ground. The current 1.1Million(?) they have in the bank will not be enough for drilling. Of course having Falco on board is a positive, but they look a bit timid with $250K up front. I would be highly motivated if they took a 5Million+ interest in the project. Other concern that I have, it will take at least to May before drilling starts, this is pushing into the summer, and you know what happens in the summer. Good luck. I'll keep lurking on this one and perhaps I'll jump on it if I see heavy buying on it, right now looks still sporadic. Do you know if they got aerial EM done yet?. Gravity and mag looks impressive so far, this will be either the biggest sucker ever found or the biggest disapointment yet. TC

To: billsmith who wrote (133)	2/24/1999 1:32:00 PM
From: Willithit	Read Replies (2) \| Respond to of 221

Hi Bill...I spoke with the company and they've confirmed the following: GPS and gravity surveys on the Thrasher Zone got underway on Feb.11th. The electromagnetic survey crew arrived on the project site yesterday. They expect it will take 4-5 weeks to cover the strike length of 12 miles. They expect drill targets consisting of magnetic peaks, gravity peaks and EM conductors will be identified by mid-April. The Company is currently negotiating the funding of $5 million for drilling with interested on- and off-shore investment groups. The airborne magnetics of the 1997 survey modelled magnetic mineralization ranging from 20 meters below surface to the main mineralized intrusive(s) at 1.1 km. There will be regular progress reports as to survey findings. That pretty well updates everything up to today. As far as the drilling goes it all hinges on just how soon they can come up with money.....And from what I hear it could be as soon as mid March. Take Care Will