Ann: Exploration Update, page-3

I can't agree with your comments Bunny that these results are very ordinary. Let's face it - it was only auger drilling to an average depth of 30 metres. Other companies have rushed in with diamond drilling poorly identified targets and a number of those companies are now close to non existence.

BOA is carrying out its exploration very methodically. They have now located two very good targets which have the right rock structures and traces of other necessities such as nickel, copper and cobalt.

Progress has been a bit slow but let's hope that slow and steady wins the race. Mr Dudley is obviously very aware of the need to conserve cash and he is not going to waste money on drilling shadows. There may be some diamond drilling soon but it will only happen after serious targets have been identified by the geo's.

No doubt Independence will be looking at these results and there is still a possibility that they might show some interest in acquiring BOA's lease.