Slide 1: Hartford Hill Complex: A Third Party Mining Resource Review 2007 to 2008
GOLDSPRING COMSTOCK OPERATIONS HARTFORD HILL COMPLEX A THIRD PARTY REVIEW A MINING RESOURCE REVIEW 2007 TO 2008 A +516,000 AU OZ RESOURCE
Slide 2: General Project Location Map
GENERAL PROJECT LOCATION MAP TELESTO
Slide 3: Land Position
LAND POSITION GOLDSPRING CURRENTLY CONTROLS AN ESTIMATED 3533 ACRES UN PATENT CLAIMS — 2929 ACRES PLUM CONTROLLED — 604 Ac TELEST®
Slide 4: Virginia City Quad Map
VIRGINIA CITY QUAD MAP HISTORICAL LOCATION MAP VIRGINIA CITY 7.5 MINUTE QUAD MAP TELESTO
Slide 5: Regional Geology Map
REGIONAL GEOLOGY MAP SOURCED FROM PRELIMINARY GEOLOGIC MAP OF THE VIRGINIA CITY QUADA ANGLE COMPLETED BY: DON HUDSON STEPHEN CASTOR LARRY GARSIDE TELESTO
Slide 6: Drill Hole Location Map
DRILL HOLE LOCATION MAP A TOTAL OF 507 DRILL HOLES IN THE HARTFORD HILL AREA AT THE TIME OF THE SEPTEMBER RESOURCE ESTIMATE TELESTO re i
Slide 7: Local Geology Map
LOCAL GEOLOGY MAP LOCAL GEOLOGY MAP COMPLETED BY GEORGE ELIOPULOS INDEPENDENT CONTRACTOR SUPPORTING INFORMATION COMPILED BY TELESTO STAFF TELESTO
Slide 8: Cross Section A
CROSS SECTION A 14771350 NORTH LOOK NORTH TELESTO
Slide 9: Cross Section B
CROSS SECTION B 14771650 N LOOKING NORTH TELESTO
Slide 10: Cross Section C
CROSS SECTION C 14771800 N LOOKING NORTH TELESTO
Slide 11: Underground Development
UNDERGROUND DEVELOPMENT MAPPED UNDERGROUND WORKINGS IN THE HARTFORD HILL AREA TELESTO
Slide 12: Process Flow Diagram
PROCESS FLOW DIAGRAM CONCEPTUAL LOW AND HIGH GRADE SIZING CIRCUITS TELESTO
Slide 13: Resource Procedure
RESOURCE PROCEDURE BLOCK SIZE IS LX10°WX10°H BLOCK MODEL 300 ROWS X 200 COLUMNS X 150 LEVELS ESTIMATION METHOD INVERSE DISTANCE SQUARED MODEL ORIENTATION NORTHWEST 45 DEGREES GEOLOGIC POLYGONS WERE USED TO BOUND MINERALIZATION TELESTO
Slide 14: Modeling Tools
MODELING TOOLS + VARIOGRAMS — IN FIVE PRINCIPLE DIRECTIONS TO TEST FOR DIRECTIONAL VARIANCES. (STRUCTURES) + STATISTICS — RUN ON 20755 ASSAY INTERVALS + GEOLOGY — THE REVIEW OF 507 DRILL LOGS TO ESTABLISH GEOLOGY. + CROSS SECTIONS — REVIEWED FOR CROSS SECTIONAL CHECKS AGAINST MODELED AREAS. + BENCH
Slide 15: Variograms
VARIOGRAMS PRODUCTION DRILL HOLES WERE USED TO ESTABLISH THE VARIOGRAM RANGES « A TOTAL OF 754 HOLES WERE USED * A TOTAL OF 1344 ASSAY INTERVALS WERE COMPILED * MAJOR AXIS - N 35 W/ 180 FEET * MINOR AXIS — 70 FEET * Z AXIS —20 FEET (SELF IMPOSED) TELESTO
Slide 16: Statistics
STATISTICS * STATS WERE RUN ON THE 27 ESTABLISHED ROCK CODES * QUARTZ VEINING AND MANGANESE WERE THE STRONGEST ORE INDICATORS * ROCK TYPES WERE GROUPED AND EVALUATED BY MEANS, LITHOLOGY AND ALTERATION. TELESTO
Slide 17: Geology
GEOLOGY * EACH ASSAY INTERVAL WAS CODED WITH ROCK TYPE AND ALTERATION * STATS FOR EACH ROCK TYPE ENTERED * STATS WERE RUN ONA COMBINATION OF 27 ROCK TYPES & ALTERATION CODES * ORE AND COUNTRY ROCK TYPES WERE BROKEN OUT TELESTO
Slide 18: Cross Sections
CROSS SECTIONS * CREATED ON 100 FOOT INTERVALS * OFFERED A CHECK FOR DRILL HOLE ELEVATIONS TELESTO
Slide 19: Bench Plans
BENCH PLANS * BENCH PLANS HAVE BEEN CREATED ON 10 FOOT LIFTS * THEY ALSO OFFERED A CHECK ON INFILL DRILLING AREAS TELESTO
Slide 20: Drilling
DRILLING « A TOTAL OF 507 DRILL HOLES WERE USED * 20755 ASSAY INTERVAL VALUES WERE ENTERED * 10782 COMPOSITES INTERVALS WERE CREATED * EACH ASSAY INTERVAL HAD A CORRESPONDING GEOLOGICAL CODE FOR ROCK TYPE AND ALTERATION TELESTO
Slide 21: The Modeled Geological Resource
THE MODELED GEOLOGICAL RESOURCE aU ORE ‘TONS MEAN AU MILOZ BLOCKS ABOVE.— GRADE. oz curorr curorr ABOVE ABOVE THE RESULTING curore —curorr AU OZ TOTAL zo aio? 7479584 0.072 ste9ss.848 WAS +510,000 ee ee er ee so 3236364656 © 0.105 ——auosan.e CONTAINED so mast. 27asz32—0.122——334918.304 70 1961221965
Slide 22: Scoping Study: Preliminary Open Pit Plans
Scoping Study Preliminary Open Pit Plans Gold Price Total Ore $250 $300 $400 $600 $800 1,349,000 1,705,000 4,000,000 8,146,000 10,419,000 TELESTO Grade (opt) 0.101 opt Au 0.096 0.076 0.060 0.055 Contain Oz 141,344 oz 164,131 302,615 487,024 573,011 Strip Ratio 3.32 2.24 239 3.36
Slide 23: Mine Scoping Study
Mine Scoping Study PRELIMINARY PITS. High Grade: 1,688,000 Tons @ 0.176 AUOPT CUTOFF 0.080 Au OF) Low Grade: 8,832,000 @ 0.033 AUOPT CUTOFF 0.017 Au OPT 36,019,000 TONS OF WASTE Stripping Ratio = 3.4