I agree with you except as to the interpretation of the release.
It does not say the DRILLING AND EXPLORATION expenses will be a MULTIPLE of $ 100 Million only that they will be in EXCESS of $ 100 Million. It also does not say that this will be the cost of mining the property only the cost of DRILLING AND EXPLORATION. They won't have a good idea of the mining cost until they have a really good idea of what's there.