I'm not clear why disappointed with the recent resource upgrade? Behold, the resource has grown by over 2Mozs in 18 months (2019 Maiden) and by over 1Mozs in over last 6 months (2020 Interim). Unique, or at the least this is an extremely rare achievement. And remember, we are only talking about Korbel Main (block A,B) here, with Blocks C, D, Isabella, etc etc in the Korbel Valley not included in this resource. I am very encouraged by the consistent steep upward trajectory of the resource inventory with no end in sight. At this rate, we continue to drill non-stop and will endeavour to complete Bi-annual resource updates, so look for the next one later this year. Big year ahead with 4 rigs on site vs 2 rigs last year. We will hit RPM with drilling (May-June) and Maiden Resource (Q4 2021) this year, Cathedral (July-Aug), and Infill/Step-out to expand Korbel Main, as well as continue advancing other prospects across the claims. To address any concerns you may have with the last resource updates, I can tell you our internal company estimates certainly show 5-7Mozs as per our previous guidance. Admittedly these estimates reflect the big picture with massive resource blowouts we have seen along strike to the SE as well as to the NW that remain wide open. We continue to step out drill in these areas now where we will continue to add significant resources moving forward. As we make this transition from explorer to developer, for the official reported resource estimates we are obliged to engage independent consultants to also act as Competent Person. As such, there is not much we can do to influence their modelling parameters. As this resource estimate will form the basis of the upcoming Scoping Study we believe the more conservative approach to the model is not detrimental and has some advantages in terms of increasing confidence in the study results, with plenty of upside remaining. To put the big picture in perspective, the 4.7Moz reported resource is in its own right a phenomenal upgrade. So it's full steam ahead on the road to 10Mozs whilst we continue to develop Korbel Main on the path to production. Kind Regards, Christopher Gerteisen
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