Ann: New Bonanza Hits of up to 776g/t Gold, page-10

@pete11 welcome. All of your questions have been covered in the recent threads (I recommend reading the last dozen threads here). To answer your questions.

1. EGA is planning to mine gold (underground).

2. They currently have a JORC 2012 resource of 405K oz. Today's results adds to this resource, and while we need to wait for the upgrade, it should be substantial.

3. No capital raises in the near future. They need $48 million to build the mine and they have $9 million cash in the bank and an indicative offer of a $35 million loan. While there will be a raise it should be very small. This is one of the most attractive things about EGA - almost no dilution to mine.

4. Current mine life is 7 years, but given the resource I suspect the true mine life is well north of 10 years. We really don't know at this stage how deep the gold goes. There are plenty of underground mines that have had a 5 year mine life's for more than 25 years.

5. The AISC from the DFS is a bit under $1100/oz at an annual production $50 - 60K oz per year. This offers some serious profit. I will leave it to you to work out the SP if EGA delivers on their potential.