Ann: New High Grade Assay Results from Ohio Creek, page-18

kojak

1. does the third batch of Ohio Creek assay results change your assessment of the grade and size and mining of OC? A series of smallish shallow pits probably assists Troy in being more nimble than developing a "super pit", as in they can move more quickly and cheaply to get the revenue flowing from OC operations. Perhaps a comparison can be made to the Mt Magnet mining camp that Ramelius Resources is currently working. It is an old mining area with a number of old open cut pits where previous owners have conducted smash and grab operations. Ramelius keeps finding more gold at Mt Magnet by developing new pits but also by looking under and beside some old pits. Troy may be able to run a similar program at OC: to begin with, mine high grade shallow deposits and then later on when the balance sheet is stronger go back and work through those areas more thoroughly (?).

2. are the issues that you still do not like concern mining and OC or are they more to do with corporate or balance sheet matters?

TIA