Explor Resources Inc. (fka EXSFF)

[RetireToday]

Almost One Million Ounces of Gold Already!

When the 43-101 was released last December many were glad a conservative cutoff grade of 2.2g/t was used for the total ounces calculation. See section 14.12 below.

831,175 Total Ounces using Gold at $1,350/oz (24 month trailing ave) was used in the formula.

If the 43-101 released last Dec were released today, the Cut Off Grade would be lowered from 2.2g/t to 1.8g/t and it would show almost 1M ounces!

979,989 Total Ounces using $1,690/oz (current 24 mon trailing ave) http://www.kitco.com/charts/techcharts_gold.html

I think drilling on the North side is a good idea. This June the updated 43-101 has a good chance of getting us to 2 million ounces. If the North side drill hole supports a mirror image forecast, then that will certainly get the attention of the majors who desperately need replace their depleting reserves.

I have been accumulating shares for 3 years now. Underwater for almost a year. I like the expression “It’s always the darkest before the dawn". Hoping will we see a nice sunrise sooner than later!

14.12 Resource Estimate
Underground Resource Estimate Au Cut-Off Grade Calculation CDN$
Au Price US$1,350/oz (Approx 24 month trailing average price Oct 31/11)
$US/$CDN Exchange Rate $1.00
Au Recovery 95%
Mining Cost (2,000tpd) $75/tonne mined
Process Cost (2,000tpd) $12.00/tonne milled
General & Administration $5.00/tonne milled

Operating costs per ore tone = ($75 + $12 +$5) = $92/tonne
[($92)/[($1,350/oz/31.1035 x 95% Recovery)] = 2.23gpt Use 2.2 gpt