Marlin Gold Mining MALZF

Encoraging Report From #33

[chalkmarks]

Canaccord's write-up:

Oro Gold is a gold exploration company focused on exploring and developing mineral projects in Mexico. The company is

under the stewardship of Darren Bahrey, President and CEO. Mr. Bahrey was formerly in a senior role indentifying

exploration targets and acquisitions for Placer Dome Exploration in Mexico and Central America. The company’s main

focus is the Rosario gold belt in west-central Mexico.

• Last week, Oro Gold announced that diamond drill hole 41 at its 100%-owned Trinidad project in Mexico had

intersected 11.9 g/t Au over 40.9 metres hosted in a hydrothermal breccia below the historic open pit at the project.

This is the best result from the project since the 2008 discovery hole intersected 8.5 g/t gold over 61 metres. This result

infills an approximately 300-metre gap separating the HS and Taunus South zones in the high-grade zone at Trinidad

(Figure18) and is located about 200 metres south of the original discovery hole.

• The Trinidad property is 110 kilometres southeast of the coastal town of Mazatlan. The property covers about 61.5

hectares (five mineral claims). Trinidad is host to its namesake former open-pit, heap leach gold deposit

(Eldorado/Almaden) that produced a modest 51,692 ounces in 1996. The company is currently executing on a 10,000

metre drill program. Hole 43, designed to test for deeper targets and potential feeders below the HS Zone, is currently

being drilled. An NI-43-101 resource is expected to be completed in Q3/10. Drilling is also planned at a number of

other targets, including the Bocas surface showing which occurs about 400 metres north of the north end of the

Taunus zone. At Bocas, a surface trench sample from similar brecciated host rocks to Taunus returned 63 metres

grading 2.9 g/t Au.

• The Trinidad area geology is largely Tertiary sediments and volcanics, with associated granitic to gabbroic intrusives

that are structurally controlled over an 80 kilometre long northwest-trending corridor. Mineralization in the area is

deemed to be hosted in an oxide gold-rich low to intermediate sulphidation epithermal vein system. Work by Oro Gold

suggests a regional northwest-trending corridor could represent an extensional pull-apart basin. Some specifics

relating to the extensional setting are that breccia/conglomerate units host mineralized clasts and a later higher-grade

mineralized matrix. This could be an indication of multiple mineralizing events possibly associated with a long-lived

extensional environment. The 14 million ounce Fruta del Norte deposit (Kinross) has been interpreted to be associated

with an extensional pull-apart basin environment.

An analyst has not visited the properties held by Oro Gold Resources.

Investment risks

The commercialization risks associated with mineral exploration and development are high; thus, investment in the shares

of Oro Gold Resources is for risk accounts only.