Update as of May 2, 2008
5-2-2008
From the desk of Russell Twiford, Vice President in charge of Research.
I would like to bring you up to date on current developments of the company. Our production department is finishing up their last production run of 500 gallons and we expect the recovery to at least be double what it has been in the past, but we will not know for certain until the refiner has a chance to evaluate our recovered gold, which should be in the next 12 to 14 days.
I know you are all very interested in our audit so here is what I know at this time. The accountants from Salt Lake City, Utah will be meeting with management in Phoenix on May 5th to finalize the audit. GPGI fiscal year ends on May 31st. At this point our audit will be completed for 2006, 2007, and 2008, putting us in full compliance.
One other piece of news that I find very interesting, I have been in touch with a British Columbia gold mining company that is privately owned, with access to huge amounts of financing, and they have expressed an interest in meeting with the management team of GPGI in the very near future. They apparently feel that the recovery of one to two ounces or more of gold per 1000 gallon of leach liquor is interesting enough for them to visit with us and of course do their due diligence check out. If talks proceed further you will be notified via our web site as soon as anything has been decided between the two companies.
This communication to shareholders and the public contain certain forward looking statements. Actual results may vary materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding estimated reserves, estimated future production, and the value thereof, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.