Petaquilla Minerals Ltd. (fka PTQMF)

[JustForFun7]

Jal, that's just the point. Nothing really tangible to the approach of the development of the property has changed. It should not be much different than before but people will get that impression from the PR.

43-101 standards forced them from including the SRK data as official 43-101 data to be used as the economic justification for an open pit mine development. It forced them to the underground mine discussion because that's all the standards would allow them to.

They have no intention of developing it initially as an underground mine. Once the phase 1 drilling is done (twinning some of the old holes previously done and some infill) then the 43-101 will be able to use the data with modern day gold prices (1250 / ounce) to justify an open pit development plan right off the bat.

Also I am not saying they wrote a bad PR. They just did what they could given the circumstances.

Should they have known they would not be able to use the old data when they bought the property? That's a different question. Maybe they just relied on the company they hired or maybe it was a grey area and they took a chance but got called it.

JFF7