Mining Stock Report

[Self Made]

DKGR--Notes From Clayton Smith (CEO of Drake Gold Resources).

11/09/2006

I just wanted to catch up with readers and let you know that we did a thorough once over of the Jackpot Placer project and things are looking good. The Bureau of Land Management has the permit applications in hand and the turn around time should be quick, 2-3 weeks, which isn’t bad by government standards. Failing that, our landowner, Dan Patch, and ostensible partner has a great relationship with the people over at the BLM, so the permits should cut through the red tape a bit quicker than the average 2-3 weeks.

Know what the best part is? Interestingly, the law requires “maintenance” during the App process. This doesn’t mean that we need to do a lube, oil and filter on all the heavy equipment we have out there, it means that we have to commence preliminary operations. What it boils down to… work has commenced at the site and that work is required for the permit process so there are no regulatory issues.

The guys down at the site doing the heavy lifting have already amassed quite a bit of gold-bearing material in anticipation of the permits allowing processing. Known as Paydirt, the work of both the landowner and project manager Norm Pearson has yielded 3000 cubic yards and counting of the gold bearing earth. Using a special process developed by Pearson, a processing plant is being set up to handle 100 cubic yards of Jackpot paydirt an hour.

I look forward to the processing that will commence in less than a month and as an investor so should you. Is Christmas coming early this year? I think so.
Novak Capital.

http://www.novakcapital.com/ccorner.htm