Goldsands Development Company (GSDC)

[Riverlakes1]

There is no assurance that a commercially viable mineral deposit exists on any of the properties underlying our mineral property interests, and a great deal of further exploration will be required before a final evaluation as to the economic and legal feasibility for our future exploration is determined. We have no known reserves of any type of mineral. To date, we have not discovered an economically viable mineral deposit on any of the properties underlying our mineral property interests, and there is no assurance that we will discover one. If we cannot acquire or locate mineral deposits, or if it is not economical to recover any mineral deposits that we do find, our business and operations will be materially and adversely affected.

Most of this wording has to be put in the Q10 to be in compliance with government rules. They can't say anything about finding any type of gold until certain things happen in the process. So you will always see disclosures like this until there is a deal in place to mine the gold. I could be wrong about this, and I am no expert, just what I think is happening.