Ann: September 2011 Quarterly Activities and Cas, page-2

re: Ann: September 2011 Quarterly Activities... Marty and the team are delivering what they promise each time. The resource has expanded at Nicholsons and the grades have been as or more than expected. They have tested the plant and are cautiously moving forward with the Feasibility Study. The only mystery now is why the market has not recognised all this work and rewarded the company with a half sensible market capitalisation. Keep up the good work BNR. The market will catch on some day.