Presidents Letter to Shareholders

Dear Shareholders,

The initial market reaction to our news of completing the land acquisition surrounding Pilar and in discovering significant gold and silver within that same acquisition area, was not what we have expected. This is an acquisition we have been aiming to achieve since the first day we acquired Pilar, four years ago. It is also a key piece in providing a complete project package desired by major operators in the region. Pilar is a standout asset in the region, boasting well above average gold values with excellent potential for recovery of gold and silver. The recent bulk sample was able to successfully display these strong attributes. Our drilling success over the last three years validates the rest. What we have just acquired has now made our land position twenty times larger. In an area with little to no exploration data. The significance of instantly discovering gold and silver across the new acquisition seems to be lost on many shareholders and I expect it will take time to process and understand it completely. Essentially, we have gone into the unknown, in an area with a massive potential footprint for additional gold-silver resources. In the case of the northern most area, a footprint three times the size of the mineralized system at Pilar. In the first samples we were able to show that the area is tied to significant gold and silver values. Discoveries like that, right out of the gate, are rare in this business, especially for something at surface. So, imagine our disappointment when the collective market does not see how exceptional that is. I have no doubt that will change.

From conversations over the last few days, it has come to my attention that some were expecting a major development on the back of what was arguably the biggest news we have had all year, perhaps ever. I understand the urgency that shareholders want to see a major producing partner and to see Pilar become a producing asset. We have the same goal, but in negotiations you must hold the cards very close to your chest and having now completed the acquisition, our confidence in making that a reality is extremely high. What we need to focus on is maximizing our shareholders investment by delivering the most attractive asset in the region. All while we permit for production and continue to discover more ounces, the negotiations for a valuable asset take time to complete.

Over the past few years, we have built upon our strengths amalgamating the people, the projects, and the process to deliver value. The consolidation of the land around Pilar was not thought to be possible until this year. When that changed, we had to adjust our timeline to accommodate the new and expansive reality that Pilar can become. Again, while instantly proving that there is much more to be discovered. Our plan to develop Pilar into a producing mine has not changed, only been improved upon by this acquisition. Now we take those important and necessary next steps to make that a reality.

If you have any questions or concerns, please feel free to contact us to schedule a meeting for further discussion.

Brodie A. Sutherland, President & CEO

820-1130 West Pender St.
Vancouver, BC V6E 4A4
Telephone: 1 403 829 9877
Email: [email protected]

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