Value Microcaps Junior Miners

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FR.TO News
http://biz.yahoo.com/iw/081223/0462534.html

This newly updated report with a cut-off date of September 30, 2008, has resulted in a significant increase in overall Resources at La Encantada. Total Proven & Probable Reserves have increased by 183%, while Total Measured and Indicated Resources declined by 17% due to upgrading some of those Resources to Reserves and Total Inferred Resources increased by 51%.

La Encantada Silver Mine is located in northern Mexico, in the northern part of the physiographic province of the Sierra Madre Oriental in the NW portion of the State of Coahuila. It is located in the municipality of Ocampo, at about 120km to the N60 degrees W from the city of Muzquiz, and 120km to the N7 degrees W from the city of Ocampo, Coahuila. The La Encantada consists of the mine, mill and plant facilities, housing, recreation centre, church, hospital, restaurant, store and associated structures including an airstrip.

For the period between November 1, 2007 and September 30, 2008 the Company completed an exploration program consisting of; Underground Development including, access ramps, drifts, crosscuts, raises and drill sites totalling 6,144 meters. Underground Drilling consisted of 29 holes totalling 6,660 meters. In addition, a 50km line Geophysics Program confirmed previously defined anomalies for future exploration at La Encantada.

During the recently completed exploration program a new mineralized zone was discovered at the 1790 mine level. This zone has been named the Buenos Aires zone and has been defined 15 drill holes resulting in about 850,000 tonnes of Resources at an average grade of 339 g/tonne Ag and 0.6% Pb, containing approximately 13.4 million ounces of silver equivalent which has been included in the Indicated and Inferred category. Drilling and development is presently ongoing in this area.

Construction of the new cyanidation plant with a capacity of 3,500 tonnes per day continues and is progressing well. The plant will process the ore and dump rock that is currently processed through the flotation plant in conjunction with reclaimed tailings. The plant is scheduled to commence operation in April 2009. Once completed, the new plant will produce 4,000,000 ounces of silver in the form of Dore on an annualized basis.

The following summary tables were taken from the