Nuvo Pharmaceuticals Inc NRIFF

RESOURCE oz. vs. RESERVE oz.

[Barruch]

To be asking about proven reserve ounces at this stage of exploration is futile. I will state again that any estimates are not put into the proven reserve category untill sufficient data has been collected and applied to a prefeasibility study. If investing in early stage exploration one can only expect to see resource estimates in either the inferred, measured or indicated resource categories. If one wants to wait for estimates to be in the reserve categories the share price would likely be fully valued and most of the price appreciation taken place. To be looking for only proven reserves one passes up on a lot of opportunity By the way Spruce how many proven reserve ounces does IWA have? None, not one proven ounce. But at their stage of exploration I nor any informed investor wouldn't expect any. The same would be said for NRI, any informed investor would not expect to see proven reserve ounces mentioned before a prefeasibility study. NOW, THE CASE IS CLOSED Barruch