LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

RE: Jim from Maryland

[Timminsgold]

LORNE; You are right on the money! When gold was trading in the low $200 one could not raise a dime for a spec gold stock and Dr. Raman continuously scraped together funds for drilling. The flip side was that significant share dilution occurred and the outstanding # of shares increased from about 20 million to perhaps 80 million during this period. Dr. Raman and his team made additional discoveries of new zones, after each new drilling program was undertaken, such as the hangingwall zone; the footwall zone and most importantly, the ultramafic zone. LSG has spent a lot of money during the past year in their exploration program. Todate, after the expenditure of many millions of additional dollars, on exploration, NO NEW ZONES have been announced. Dr. Raman and his exploration team deserve a lot of credit for their contribution to the development of the Bristol Township orebody. Lets hope that LSG proves me wrong and announces the finding of a new major zone!