Sarissa Resources Inc (SRSR)

[jim6103]

FastEddie....."I see a lot of calculations on value and PPS has anyone concidered the cost to mine in the calculations?"

The company is in the process of defining a Niobium resource on their Lake Nemegosenda property. We anticipate getting an "indicated" resource categorization from the much anticipated National Instrument43-101 report that is presently being worked in by a third party "qualified person". Our resident qualfied persons - Drs. Cam Cheriton and Alan Hawke - are not allowed to do the study as a safeguard against undo prejudice.

There is no financial cost data involved with defining the resource. We are expecting to get an amount of Niobium - total tonnage of resource (deposit tonnage X % Niobium/tonne). The categories are measured, indicated, and inferred with measured being the most decisive. We presently have enough sampling data from the distant past and from our recent 9 hole drill program to define an "indicated resource" that could exceed 400,000,000 lbs. of Niobium. We know that the market is somewhere between $20-$25/ lb. Do the math and you'll come up with what our resource is worth in the ground.

As far as getting the actual costs of mining of the "resource" and the profitability of same, a prefeasability study will need to be performed. After more drilling of the Zones and applying the costs in another very costly and time-consuming study, Proven and probable reserves can be established. Right now with the present data, we are anticipating getting "Indicated" and "inferred" resources. "Resources" now and "reserves" later.....Jim