Gunnison Copper Corp (GCUMF)

[Photonics_Guy]

Thanks much, PG. Out of curiosity, did you see/meet any foreign investors (e.g., Chinese) during the site visit?

Have you heard any more from JJ or Excelsior mgt on the status of their amended Arizona aquifer permit? (Excelsior sought the recent amendment to clarify that Excelsior is a "bona fide prospective purchaser" with no liability under the Brownfields laws for any potential past contamination at the Johnson Mine camp property). I imagine such an amended state permit would help assuage potential investors' concerns for capital fund raising purposes.

I don't recall seeing any Asian investors on the mine tour. There were some European investors present.

The topic of the amended state permit did not come up in any conversations that I was part of. It is my belief that - while it is a good thing to have in place - it is not a significant risk element one way or the other.

The mood during the Conference and the tour among shareholders regarding MIN was very upbeat and positive. The consensus was that there is minimal permitting risk at this point. Excelsior was definitely the star of the show at the Conference.

I had an opportunity to sit with Excelsior management over a beer and was very impressed with the conservative approach taken with the FS and attention to minimizing execution risk elements.

I will be surprised if we don’t see recovery numbers 10% higher than those published in the FS. Excelsior did not include the revenues from the transitional copper sulfides or slower leaching components in the FS. Those aspects may significantly add to the Cu recovery during production over and above the values shown in the FS.