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We also have cash-thanks to a recently completed $3.3 million private placement (at US$0.10). However, as a result of the credit crunch now facing companies worldwide (and junior exploration companies are among the hardest hit), we have adjusted and refocused our exploration priorities. We have instituted a series of cost cutting measures that will also allow us to keep our geological team working efficiently on new gold targets in the San Simon district. To conserve cash, we have temporarily halted drilling. We are also currently discussing a business arrangement to purchase the drill rigs so a) we won't be slowed down when drilling resumes and b) we can lower operating costs.

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