Rick Rule Integra Gold Corp. ICG-X COMMENT Sep 28, 2016

The issue is that there seems to be a lot of veins that are open, but not connected so it will be difficult and expensive to mine. He does not think it will make a good deposit, although he realizes he could be wrong.

Very smart guys. What he has seen is what they have defined in the Resource and done in their PEA. It is a number of laddered veins that pinch within a structure. They don’t hold together that well, and the kind of angle created is very difficult to mine. He thinks the PEA and Resource has to be completely redone. They are starting to find some higher grade structures that seem to be feeding into these low angled structures. If they can start drilling the structures and show that these veins are in fact really feeding it, which changes everything. He is watching it.

(Market Call Minute.)

A reasonably interesting discovery, but a story that has given so much and so fast, that existing holders need to take money off the table in some of these names.

Top quality people. Before he buys more, he wants to see more drill results. He would rather pay up for some certainty. Likes the people and their technical and promotional acumen.

It is difficult to find any fault in anything they have done in the last 2 years. He is suspicious that this will be part of the consolidation you will see in the Canadian junior gold sector in the next 18 months. It is very hard to find fault with this team.