Gryphon Gold Corp GYPHQ

Metals & Mining Gold

Gryphon Gold Corporation is a mine development company. The Company's principal asset is Borealis property. The Borealis Property is 27.5 square miles located in the Walker Lane gold belt of western Nevada. The Company's land position covers approximately 17,600 acres for the Borealis property and over 60 Nevada exploration properties, which cover approximately 70 square miles in the state's gold trends. The Borealis property has approximately 1.4 million ounces of measured and indicated gold resources, and approximately 1.1 million ounces of inferred gold resources have been accredited to the one square mile Central Borealis zone. Its Borealis property has over five other prospective zones that are being explored, which have the potential to host significant gold resources. The Company continued drilling on the Borealis property in the Graben resource, and in the central and western pediment areas.

GREY:GYPHQ - Post by User

Gryphon Gold Corp

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Post by DirtyDeeedson Nov 15, 2011 9:06am

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Post# 19237910

email from John Key

I emailed Gryphon Gold on Friday regarding the 15-20% numbers that were unclear to me. I received a response yesterday. Notice the part where he mentions "a couple months behind plan on placement of ore". Those are the kind of things we need to expect from a start-up. I am very happy to know exactly what is going on instead of beeing kept in the dark. Thanks Mr. Key!

Here it is for those who want the clarification...

The 15-20% is in reference to the total gold put onto carbon. The lower than full production number is a function of the production build up and the lower than planned crushing time due to lack of overliner. The 15%-20% has no relationship to recovery in this case. Only the rate we were able to put ore onto the heap leach pad.

We are a couple months behind plan on placement of ore on the heap leach pad but the 2012 schedule looks very good.

Thanks for your inquiry and support."

John L. Key

CEO

Gryphon Gold Corporation

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