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Calais Resources (CAAUF)

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Trading Symbol: CAAUF.PK

Registered in British Columbia, Canada
Report in US$ and US GAAP - US Domestic Insurer
Current CTO in Canada due to lack of financial reporting – Reports to be filed in February 2011

Shares Outstanding: 142 M
Fully Diluted Share Base: 162 M


Email address info@calaisresources.com

Corporate Presentation: http://www.theaureport.com/cs/user/download/co_file/2007/presentation020211c1.pdf


Chairman & Corporate Officers:

Chairman / CEO R. David Russell
email: drussell@calaisresources.com

President and COO David K. Young, PE
email: dyoung@calaisresources.com
NI 43-101 Qualified Person for Calais Resources

Vice President - Exploration Thomas S. Hendricks
email: thendricks@calaisresources.com

Corporate Address:
Calais Resources Inc.
PO Box 653 (4415 Caribou Rd.)
Nederland, Colorado 80466-0653

Phone: (303) 258 – 3806 / Fax: (303) 258 - 0402


R. David Russell – Chairman / CEO / Director
One of the major shareholders of Calais Resources.
Previous President/CEO of Apollo Gold Corp., as well as a director and founder.
Thirty-plus years experience executive management at Asarco, LAC Minerals, Barrick Gold, Getchell
Gold Corp.
Holds Directorship positions at General Moly, Pure Nickel, & Fire River Gold
BS degree – Mining Engineering, Montana Tech Experience and Industry Leadership

Calais Resources Management Team--

David K. Young – President / COO / Director
Has over 28 years of underground mining experience in operations, engineering, mine and corporate
ASARCO – Black Cloud Mine (CO), Troy (MT), Galena & Coeur (ID)
Apollo Gold Corp. – Montana Tunnels (MT), Florida Canyon (FL); Black Fox (Ontario, Can.)
Registered Professional Engineer, State of Idaho; 43-101 qualified person for Calais
BS degree -- Mining Engineering, Colorado School of Mines

Thomas Hendricks - Vice President Exploration / Director:
Has over 38 years of mining experience at Cross/Caribou, and was President of Hendricks Mining prior
to merger w/ Calais in 1999. Past President of Calais Resources
Experienced small mine operator and geologist
Numerous awards for environmental stewardship & community service.
Served(s) on several state and local boards for reclamation of historic mining properties.


Colorado Assets

Cross / Caribou Mines - Nederland, Colorado

Started in 1869 – Historic Production - 20 million oz of Silver & 500,000 oz of Gold
Historic Resources (PAH - 2002)

Measured & Indicated – 443,000 tons
Gold - 0.57 oz per ton (19.5 gm / tonne)
Silver - 18.3 oz per ton (627 gm / tonne)

Asset Summary

Inferred – 579,000 Tons
Gold – 0.29 oz per ton (9.93 gm / tonne)
Silver – 7.49 oz per ton (256 gm / tonne)

Measured, Indicated & Inferred – 1,022,000 tons
Gold – 0.41 oz per ton (14.0 gm / tonne)
Silver – 12.2 oz per ton (418 gm / tonne)

Identified Over 100 near vertical veins – true widths between 3ft (1m) to over 20ft (6.1m)
Based on 175,000ft (53,500m) of core drilling and extensive underground sampling
Land Position - 500 Acres Patented and 1800 Acres Unpatented


NI 43-101 Technical Report on Exploration
Calais Resources Inc.
Consolidated Caribou Project
Boulder County, Colorado, USA



NI 43-101 Technical Report on Exploration
Calais Resources Inc.
Manhattan Project
Nye County, Nevada, US



Some recent opinions on the company from theaureport.com website and TickerTrax:

--Bob Moriarty, 321gold (02/11/11) "Over 20 Moz. silver and 500 Koz. gold came out of the [Caribou mining] district. The entire place is now owned by Calais Resources. The old timers left a heck of a lot more gold and silver than they took out. . .But the work begun by Tom Hendricks will provide the foundation for a real mining company. In Colorado, the company owns 500 acres of patented ground and has claims on an additional 1,800 acres. The mine is fully permitted for 200-tpd production.

It's a rich deposit with over 100 identified veins with true widths between 1 and 6 meters. It's also high grade, ranging from 9.9 g/t to 19.5 g/t gold with 257 g/t silver to 627 g/t. There have been over 53,000 meters of drilling completed and the core is still around. . .Calais has more than one donkey in the stable. It also owns the White Caps mine located just five miles south of the Round Mountain Gold mine in Nevada. . .This is going to be a really interesting company to follow; there's a lot of gold and a lot of silver still in the ground."

--Jay Taylor, J.Taylor's Gold, Energy & Tech Stocks (02/04/11) "I am bringing this company to your attention because it has some good assets and because it is being headed by David Russell, the former president of Apollo Gold, now Brigus Gold. This is a brand new story that is not yet trading in Canada. . .But I believe it is a story that is likely to gain substantial traction very soon. I expect to tell you more about this story in the near future. But what I like about it is that this is the brainchild of David Russell and that his family owns close to one-third of the stock. That means management has skin in the game—hence the desire to generate cash flow to fund exploration and development. Also what I like is a gold/silver resource of approximately 2 Moz. with major upside exploration potential, not only from the property in Colorado but also in Nevada. In summary, I see this as an early stage story that could become a tenbagger or more."

--Thom Calandra, Ticker Trax (02/04/11) "The principals have almost everything in place to see their Caribou Mining District, after 40 years and eight failed partnerships, become a reality. . .Calais for its investors likely will repeat what Comstock Mining accomplished. . .reworking debt via convertibles and an equity placement. Result: A quadrupled stock price and cash to advance the alkaline vein system. . .As for the property, Dr. Hennigh, who toured the property about a year ago and worked there as a teenager, hazards a guess that the Caribou has no less than 2 Moz. gold encrusted in its hard galena-laden tunnels and stopes. Historic data from decades of drilling is said to estimate gold grades as thick as .05 oz. g/t in some veins and 10 oz. silver."

--Thom Calandra, Ticker Trax (02/08/11)  "THIN SKINS: The Caribou mine I just toured in Colorado has gone the rounds so many times, no one on planet North America, with the exception of FOUR-DECADE operator Tom Hendricks, can tick off the successive companies that gained and lost the THIN-VEIN deposit to lenders, banks, other companies and bankruptcy courts.  I am on record as saying that Calais Resources (OTO: CAAUF, Stock Forum) will repeat the rapid-fire equity rise we last catalogued in a similar silver-gold mine developer: Comstock Mining (OTO: BB: LODE, Stock Forum). I know folks, mostly Ticker Trax subscribers, who cleaned up on Comstock stock during a three-month span this past autumn. Comstock stock has since lost the “hot money” trade.  This Calais, too, is speculative and dependent on raising new equity and retiring old debt. At Calais, I expect 61-year-old Mr. Hendricks, an underground miner his entire life, and his executive team, will produce a sturdy and Canada-compliant resource statement for the property and its 100-plus veins. As soon as this week.  Calais shares will accelerate even further now that we have broadcast the particulars of the debt-laden resurrection to the Stockhouse audience. Whether the 16-cent (now 31 cents) shares get beyond fair value of approximately 60 cents USA or so, a level that could be attained in two weeks or less, depends on the resolving of $11 million of notes to Brigus Gold (TSX: T.BRD, Stock Forum) … and the price new investors will have to pay to purchase what almost surely will be an equity placement in coming weeks. See the entire coverage.   I can guarantee three things about Calais: the company will change its name. The company will not be allowing any more Hollywood film crews on the property for set shoots, including one B-movie in the early ‘80s featuring Margaux Hemingway. Oh, and CEO and Chairman David Russell, who has a mixed record on making investors money, vowed to raise no equity at the stock price when I toured the property last week; that price was about 16 cents and traveling into a tailwind headed northeast, like most of these underground veins appear to be directed. Calais shares on the USA Pink Sheets are higher now and destined for loftier levels as the company solves the debt load and published its 43-101 summary of historic gold resources. I do not own any.

--Thom Calandra, Ticker Trax (03/01/11) "CALAIS RESOURCES: The Colorado miner and prospector (CAAUF) saw its stock in the U.S. halted the other day. The U.S. Securities & Exchange Commission requires Calais Resources to file fresh quarterly reports. The SEC said in its Feb. 24 statement, “The Commission temporarily suspended trading in (Calais) due to a lack of current and accurate information … because (it) has not filed certain periodic reports with the Commission.”I visited Calais Resources’ Caribou Mine in early February and wrote about the company: See Stockhouse coverage. Calais must run a fine-tooth comb through its financial statements going back many quarters (2005 to 2010) if it ever is to gain acceptance among investors.  Dave Russell, the CEO, chairman and 54-year-old Colorado miner who stepped into the company’s corporate office about 41 days ago, says he expects the financial statement repairs to happen soon. His COO, Dave Young, is a chemist who has been trying to cut corners and keep Calais alive with scants amount of financing the past year, Mr. Russell said.  “Dave Young's largest hurdle, from what I can see over the last year or so, was trying to work through boxes of financials and keep the company going without much financing to work with. In the past eight or so, the financing has come from close associates, friends and family and the company is getting repaired accounting wise and audit wise as we speak,” Mr. Russell told me. We will see. Mr. Russell assures me none of the top three at the company – Mr. Young, mine founder and 40-years-and-running operator Thomas Hendricks and Mr. Russell himself – has sold any shares in the 80 percent or so run-up in the Pink Sheet shares after my first report was published in early February. See Stockhouse coverage. “There was no intention of raising money to solve the debt situation before the financials are brought current with the SEC and BCSC,” Mr. Russell said. “I personally hold 100 percent of any shares I have acquired over time and have never sold one share.  The specific reason I came directly into the company is that I have a very large investment in the Calais Company and I believe in the geological and mining assets.”  He said Calais will work with the SEC to “develop a timeline and filing schedule to bring the company current.”  The Caribou Mine has potential as a producing open-pit entity, according to my own visit and to conversations I have had with geologists, including Quinton Hennigh of Evolving Gold (TSX: T.EVG, Stock Forum). Still, CEO Russell must ensure investors, current and future, that he can get Caribou on track … and solve a debt load that runs above $10 million. Oh yeah, and change the Calais name, would ya?

News 2011

02.14.11 - Calais Resources Announces Completion of Canadian NI 43-101 Technical Reports

02.10.11 - Calais Resources Announces the Completion of Financial Statement Audits

01.18.11 - Calais Resources Appoints R. David Russell to Board of Directors as Executive Chairman / CEO and Announces Debt Extension by Brigus Gold Corp.

News 2010

12.22.10 - Calais Resources Announces Corporate Debt Restructuring

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CAAUF News: Calais Resources Update 07/23/2012 10:38:00 AM
CAAUF News: Calais Resources Update 03/29/2012 07:59:00 AM
CAAUF News: Calais Resources Announces Completion of Canadian NI 43-101 Technical Reports 10/31/2011 12:27:00 PM
CAAUF News: Calais Resources Appoints New Chief Financial Officer 10/28/2011 06:00:00 AM
#39   Colorado gold mines in play after dispute between baystock1 04/13/17 11:34:45 AM
#37   Brigus Gold Agrees to Sell Calais Notes for wshaw14 05/07/12 02:55:49 PM
#36   Sold and am outta here...have no idea what's kudos2u 12/16/11 12:45:36 PM
#35   Well...what do you know? The gods speak kudos2u 10/29/11 02:40:36 AM
#34   Not a clue...and not one of these AZ%$#@les kudos2u 07/27/11 10:49:42 AM
#33   Sent an email two months ago asking for kudos2u 05/27/11 01:00:33 PM
#32   Very strange trading with this bird. Unless kudos2u 03/29/11 01:35:00 PM
#31   Ok...well anyone here with an interest in Calais kudos2u 03/26/11 01:25:39 AM
#30   Correction from my first post: kudos2u 03/25/11 03:47:41 PM
#29   OK...that gets us off and running... kudos2u 03/25/11 03:43:34 PM
#28   Trading Symbol: CAAUF.PK kudos2u 03/25/11 03:42:18 PM
#27   Colorado Assets kudos2u 03/25/11 03:38:31 PM
#26   R. David Russell – Chairman / CEO / Director kudos2u 03/25/11 03:34:50 PM
#25   NI 43-101 Technical Report on Exploration kudos2u 03/25/11 03:28:11 PM
#24   NI 43-101 Technical Report on Exploration kudos2u 03/25/11 03:27:17 PM
#23   I bought in at Thom's rec...~@.22...jumped way up, kudos2u 03/25/11 03:22:33 PM
#22   hmm. well, then, i was wrong Stock 03/24/11 09:38:33 PM
#21   Nope ...I just checked Yahoo Canada and Calais Renee 03/24/11 07:23:11 PM
#20   Wallet mining and pocket prospecting are easy to spot. Stock 03/24/11 07:17:33 PM
#19   Well, the stock is trading in Canada, right? Stock 03/24/11 07:15:56 PM
#18   The plot thickens . You dig better than Renee 03/24/11 07:15:42 PM
#17   He updated his take after the suspension: Stock 03/24/11 07:11:24 PM
#16   This is from February. Thom Calandra? I thought Stock 03/24/11 07:09:05 PM
#15   I saw that too . It's odd inthat Renee 03/24/11 07:06:05 PM
#14   CAAUF Charts Stock 03/24/11 07:01:56 PM
#13   It appears this one survived. Stock 03/24/11 06:59:22 PM
#12   What's up wit dat . I just double Renee 03/24/11 06:25:12 PM
#11   trading? Prices Stock 03/24/11 04:46:02 PM
#10   CAAUF revoked : Renee 03/18/11 09:47:30 AM
#9   SEC Suspension for CAAUF : Renee 02/24/11 09:37:24 AM
#8   Let's see if we break .40 today, if HighPriestess 02/22/11 09:20:00 AM
#7   Yes I did and I like what I HighPriestess 02/17/11 03:31:26 PM
#6   its on fire!!! the completion of canadian NI vinnybotz 02/17/11 01:34:27 PM
#5   Hi Vinny, I bought in at .32 on HighPriestess 02/17/11 01:19:29 PM
#4   letter from ceo and a new website... vinnybotz 02/08/11 08:23:54 PM
#3   looks good. vinnybotz 02/08/11 02:25:47 PM
#2   Trying to get some info this stock is bbking2003 02/07/11 04:15:05 PM
#1   I will go ahead & get the ball jamon1 11/12/10 08:40:58 PM