Survey Response #2

Q: “In the message boards, I've read opinions of people not wanting to hold over the winter...or anxious for the Spring to see an appreciation in the share price.”

A: Not sure why the value of IVS stock would be tied to the seasons, we don’t have a seasonal exploration news flow like some companies. January to April is a very active period for mining conferences and promotion.

Q: “Putting any "nuggety" effect of drill results aside, does the company feel that we may be able to expect this kind of an improvement in grades for future bulk sampling campaigns? Is it generally accepted within the industry that bulk samples provide better results than drilling?”

A: It’s difficult to say with one data point if the relationship will hold true in other areas of the property. Our working hypothesis is that all the conglomerates will behave in a similar way. The first bulk sample strongly supports our hypothesis.

Q: “It would also help to know what the total cost per ounce for the bulk sample was, taking into account factors that may be different between full scale mining vs bulk sampling.”

A: The cost of bulk sampling is almost always much higher than you would experience in a commercial operation. In our case we will almost break even on the first 1,000 t, which is an accomplishment we're very pleased about.