When Media Ignore the Truth, the People Suffer

“Thus, managing appearances and perceptions becomes the political art of failing

economies. Reality is masked while inaccurate perceptions are constantly

projected.” Jim Sinclair

This should come as no surprise. If governments and central banks don’t like the

truth, just ignore it and make your puppet politicians and media outlets say it’s so.

The media used to act in the capacity of holding everyone accountable to some

sort of honest standards, but those days unfortunately are long gone. Who

knows what any of us can believe from what the media clowns tell us? It’s ugly.

The problem is the more truth you discover, the more disgusted you get with

government, bankers, and the talking heads on the news channels.

Tying together some of the thoughts I have been presenting in the last few

Hotlines and Newsletters, subscribers should understand just how epic the

ultimate financial collapse could be.

In a recent Sprott interview with Jim Rickards, he believes we are coming to a

financial extinction level event. In that interview, which you should read in its

entirety, I give you one of his quotes.

Albert Lu: The fact that if the panic and the business cycle, the bust, coincide, you could have something very violent and I think that’s what we may be looking at this time simply because the panic will come from the fact that we’ve ignored the business cycle for so long. Like you said, we skipped an entire cycle by just acting as if it didn’t exist, keeping rates pegged to zero. So, what probability would you put on that? The big business cycle correlated with or corresponding with just a massive panic like we saw in the ‘80s.

April 2017

James Rickards: I agree with that and I think it’ll actually be a lot worse than certainly what we saw in 2008 like it should be. To me, this is more of an extinction level event as these things go, as economic crises go. But the reason I think the business cycle will fall out of bed along with a systemic risk is because the Fed has smothered the business cycle with zero interest rate policy, money printing, expanding the balance sheet, forward guidance—all these manipulations.

To read the full interview, click on the link below.

http://secure.campaigner.com/csb/Public/show/fk745--c2iu9-5l3ntyf7

And Jim’s opinion is not something to sneeze at, as he has worked in the “bellies of the beasts” as I like to say, in Washington and New York and is the ultimate insider’s insider. He has a firm grasp on the complexities behind the scenes that most of us just can’t understand, so his comments are well founded in the truth of what is actually happening.

Something else I have been mentioning in the newsletters the past several

months, is the systemic Italian banking problems that have now morphed into the

ridiculous. But again, the situation is so crazy and insane, it’s better to just not

mention it in the media. In other words, shhhh, don’t let the people know how

bad this is!

We have seen, example after example after example of this for years.

But, Zero Hedge recently had the real scoop on why the Italian banking crisis has

gone off the media radar, just as I have been saying. Click on the link below:

http://www.zerohedge.com/news/2017-03-30/here’s-why-italy’s-banking-crisis-

has-gone-radar

The fraudulent absurdity of the current situation is best encapsulated by a recent

cartoon I saw (pictured below). If you understand this then you fully comprehend

that it is only a matter of time before our thinking is proven correct.

In my view, if you really want to drill down in how the next crisis will unfold then

you need to understand the concept of counter party risk that is inter-twined so

heavily throughout the entire financial world. It is the ticking time bomb that

nobody in government or central banking wants the public to comprehend.

Just this week, Gijsbert Groenewegen has written and excellent article on the

topic of counter party risk that is easy to grasp for all.

The full article can be accessed at:

https://www.jsmineset.com/2017/04/03/the-next-crisis-is-the-mother-of-all-

counter-party-risks-part-1-gijsbert-groenewegen/

In the article, he says in italics below:

Counterparty risk is a risk to both parties and should be considered when

evaluating a contract. In most financial contracts, counterparty risk is also known

as default risk, a risk that a counter-party will not pay as obligated on a bond,

derivative, insurance policy, or other contract. Financial institutions or other

transaction counterparties may hedge or take out credit insurance or, particularly

in the context of derivatives, require the posting of collateral. Offsetting

counterparty risk is not always possible, e.g. because of temporary liquidity issues,

malfunctioning of markets or longer- term systemic reasons.

In simple terms counter-party risk is when the counter-party doesn’t meet the

obligations of its agreement because of its own doing or because parties of the

counter-party don’t deliver or because of systemic or regulation risk. And in

general counter-party is a concept referred to mostly in financial transactions

though in principal it is just the failure of the other party to meet its obligations. I

will explain later in the article the mother of all counter-party risks: the

devaluation of the currencies. Currencies are the ultimate benchmark of (global)

wealth.

Forms of counter-party risk:

1. Failing to meet contract obligations

2. Devaluation of the currency

3. Losing pensions

4. Futures that can’t deliver

5. Bail-in by banks

6. Reverse repos

7. Shares that are not certificated

8. Credit Default Swaps

I have talked about all these individual issues over the years, but I think it is

prudent to understand just how tenuous these items are because of the

associated counter party risks that in most cases in the near future will never be

met.

In other words there will be lots of defaulting on promises that have been made

throughout the entire financial world. This will cause the ripple or domino effect

like it has never been seen before in world history.

Some examples from the article include:

California’s Calpers public retiree system is notoriously underfunded and doomed

to implode. Chicago, Detroit and other urban wastelands are sagging under

abysmal debt a trend to continue and widen. Dallas, Texas pensions went

insolvent. The Dallas pension fiasco could happen in your state or city too. Puerto

Rico is nothing but a propped up bankruptcy. The Michigan Public School

Employees Retirement System pension fund is $26.7 billion underfunded, and

mind-blowingly has paid out more benefits than it has actual assets in 41 of the

last 42 years, according to some estimates. The Mackinac Center for Public Policy

has estimated that, as a result, more than a third of Michigan’s school payroll

expenses go to retirees, not those people actually teaching children in a

classroom.

He goes on to further explain….

Because today’s actuarial models assume expected returns and ignore the cost of

risk, risk isn’t avoided; indeed it is sought! By investing in riskier assets, pension

plans’ models then enable them to claim they are better funded and keep required

contributions from rising further, politically the “correct” policy. But this way of

thinking and set up is asking for a disaster based on alternate motives than those

that should be really applied to get secure and reliable pension payments.

This is a typical way politicians tend to mask problems that otherwise would be

too unpopular to tackle for them to be re-elected. This is the essence of politics as

we also witness with immigrants in Europe, especially in Sweden and Germany,

keeping secret and not publish the real news that happens, the financial problems

in Spain with the banks charging mortgage holders higher interest rates than

legally allowed and subsequently not paying the penalties as ordered by the

courts, and in the US the doubling of the total government debt to $20 trillion

saddling the taxpayers up with future declining income. Every time it is the same

story, it is the route of the least resistance at the expense of the citizens in favor

of the politicians and the bankers. We basically need a kind of French Revolution

to clean this up!

I could go on and on about these issues, but I think that should suffice for one

newsletter.

The bottom line to all of this is that those who understand and are prepared

should be in an excellent position to capitalize and survive better than most.

Nobody has a crystal ball to say how this story will play out, but the thought a

crisis can be avoided in no longer an option.

The point of all of this is not to instill gloom and doom but to make the case for

why there will be an incredible opportunity to make money with precious metals

mining shares once again.

Because of the unusual circumstances (potential crisis), there is incredible

opportunity in precious metals. And from what I been able to see in my life there

are very few investments available to the average retail investor that allows

someone to take relatively small amounts of money ($10,000) and grow it into

very large amounts of money within a short time period of time.

The mining share market can be irrelevant for large blocks of time, but when it

kicks into gear, there are very few other spaces (other than oil and gas or early

stage tech investing) that can deliver 10x or better returns in short order.

I have subscribers that are from A to Z on the income and wealth scale. While

everyone like to make money, some subscribers are just looking for doubles,

while others are focused totally on 10x or more. We know from past experience

it can happen and that it will happen again.

I maintain that we can hold our heads high by knowing the truth and using it to

our advantage to make monies from the incredible once in a lifetime type

opportunities just in front of us on multiple fronts.

We can also use our knowledge to not only prepare financially, but temporally

and emotionally as well for what seems inevitable at this juncture. Nobody

knows the time frame, so live every day to the fullest and look for joy in

everything you do. In that manner we stick to the motto of hope for the best, but

prepare for the worst.

The last item I wanted to mention is that in the mining space, I think we could see

something that hasn’t happened in 12 years. And that is where we could see a

time (maybe short-lived) where the base metals (particularly uranium) and

precious metals mining shares could all enter a roaring bull market at roughly the

same time.

We have not seen something like that since the 2005 -2007 timeframe. Many

subscribers have asked me about uranium the past four years as they have heard

other analysts and writers speak of a uranium bull market. I have always

answered that I thought it was still too early but that eventually the uranium

market would go again. In the newsletter on several occasions during this time I

have mentioned a few of the top uranium stocks that investors should focus on if

they were interested in that sector.

Well, just last week I had a conversation with one of the best-heeled gentlemen in

the uranium space (that I met during the last uranium bull market) who gave me

some information that I had been waiting on.

Because of this information, I believe the time is finally here if you are interested

in uranium. The long wait is over.

If you want to participate, I believe you must buy now, or forget about it because

this market is even more volatile than precious metals mining shares. Once the

market goes, the best opportunity for the biggest gains will be gone, and later

investors will pay much higher prices and have enormous downside risk. The only

way to play these uranium stocks is to buy low like now and sell into the frenzy as

soon as it happens.

Because of this I have decided to recommence writing The U3O8 Report that

covers the best uranium production, development and exploration plays.

I believe the relevance of The U3O8 Report will only be with us for a two or three

year window at best. That window starts today and I will write this report only

as long as I see the market in play.

For those of you looking to be involved with uranium, your timing is good and the

opportunity for big gains should be with us for at least the next couple of years.

The uranium price is currently at $24.50 per pound and the uranium mining

shares have begun to peak their heads out of the foxhole, but are still languishing.

We are now in one of those unique moments when uranium stocks are still low,

right before they begin to take flight. Each time that the uranium price soared in

the last 40 years (twice), it generated life-altering returns for investors who got in

before the big move happened.

For those of you who have never been through a uranium bull market, all

subscribers will be getting a copy of my FREE REPORT about why uranium is about

to boom along with an opportunity to subscribe to The U3O8 Report that will

have my best uranium stock recommendations.

I hope you will join me.

I haven’t been this excited about our opportunities to make money in a very

long time!

Company Updates

While the precious metals prices continue to tread water in what I’m calling a

very quiet market, it still feels like we are moving through the calm of the storm

before things get rough again. It’s hard to really tell in the short-term as so many

factors could jump up at any moment to pull things one way or another.

In the longer term I am totally comfortable with our positions in the newsletter

and expect the powers that be to continue their criminal charade “that all is well”,

until one of the many looming factors brings it to a halt. Then it will be game on

and the moves for precious metals will be swift and large to the upside.

For now I am hoping we start to chop lightly higher, but without momentum

going into the summer, prices could remain at current levels until a major factor

enters the picture later in the year.

Otherwise, expect exploration companies with drill programs to get plenty of

attention this spring, summer and fall as the drills turn and investors look to be a

part of the next big discovery.

From what I have heard, most of the companies on our exploration list will be

active this summer with drilling some very exciting projects.

It feels like forever since I have felt this kind of energy and excitement as a

newsletter writer. The downturn we had to endure was a long one, but the good

times are here again and the next several years should be ones that will provide

huge opportunities for big gains and happy memories.

TOP COMPANY LISTS

The TOP COMPANY LIST and an EXPLORATION LIST are separated every month so

subscribers can more easily distinguish between the various risk-levels within the

junior mining space.

The TOP COMPANY LIST is made up of production and or development

companies, while the EXPLORATION LIST is make up only of companies that are

active explorers for new discoveries, or expanding existing ones.

Here are our new LISTS for April.

The Company Report Card no longer appears as it did at the end of each issue. I

now list the original recommendation price within the header for each company

in our Company Update section so investors can track the performance from

month to month along with BUY/SELL/HOLD recommendations at the end of each

update.

TOP COMPANY LIST/April 2017

I have no changes this month other than the addition of First Mining Finance.

The TOP COMPANY LIST is a reflection of the companies that I believe have the

biggest potential to bring us the largest gains in the shortest period of time with

the least amount of risk. The companies are listed with number one being the

mostly likely to succeed in my view and so on.

Rating System:

STRONG BUY: This designation is assigned to a recommendation of (TMS), The Mining Speculator, when

I believe a company has the best combination of risk and potential reward for near term gains. These

companies typically make our TOP TEN list as the biggest potential winners in the short-term.

BUY: This designation is assigned to a recommendation of (TMS), when I see good upside potential over

the longer term. Companies I list as a BUY may not get an update as often as a company that is listed as

a STRONG BUY.

SPECULATIVE BUY: This designation is assigned to a recommendation of (TMS), when I am

recommending a company that is a grass roots exploration play and currently has little in the way of

assets other than people, money, and a prospective property or two. This designation clearly represents

more risk than either a BUY or a STRONG BUY.

HOLD: This designation is assigned to a recommendation of (TMS) when I feel it is no longer at a prudent

price level for purchasing, but is still worthy of holding for a better SELL point. I may sometimes list a

company as a combination HOLD/SELL such as S1/2H meaning SELL one half and HOLD the balance. It

could also be S1/4H, SELL one quarter and HOLD the balance.

SELL: This designation is assigned to a recommendation of (TMS) when I feel the reason we first

purchased the stock is no longer valid, or we have reached my target level of profit.

Combined Lists (Original MS TOP 10 with Right Companies for the Rebound) for

a total of 14 Companies

Mag Silver

McEwen Mining

Alexco Mining

PolyMet Mining

Canadian Zinc

Balmoral Gold

Almaden Minerals

Dynacor Gold

Pretium Resources

Endeavor Silver

Excellon Resources

Eurasian Minerals

Gold Mining (Formerly Brazil Resources)

First Mining Finance

Wellgreen Platinum

Alexco Resource Group Symbols: TSX: AXR, NYSE: AXU Shares Outstanding: Roughly 77 million Current Share Price: C$2.10, US$1.57 52 Week High/Low: C$3.41 – 1.14, US $2.54 – 0.87 cents Initial Recommendation Price: C$0.44, US$0.32 Company website: www.alexcominerals.com

Alexco owns the historic Keno Hill Silver District, located in Canada's Yukon Territory. The Bellekeno

silver mine, one of the world's highest-grade silver mines with a production grade of up to 1,000 grams

per tonne, commenced commercial production at the beginning of calendar year 2011 and was Canada's

only operating primary silver mine from 2011 to 2013. Alexco is currently in interim suspension of

operations at Bellekeno in order to decrease costs and reposition the District for long-term, sustainable

operations. Alexco is rapidly exploring other promising high-grade silver prospects on its other District

properties, and has discovered two important new deposits - the Flame & Moth and Bermingham. Three

mines are already well into development, with a fourth waiting for a development decision. The

continuing discoveries of some of the largest deposits ever in the District point to the prolific and

prospective nature of Keno Hill. Employing a unique business model, Alexco also provides mine-related

environmental services, remediation technologies and reclamation and mine closure services to both

government and industry clients through the Alexco Environmental Group, its wholly-owned

environmental services division.

AXR is the only primary silver producer in Canada.

With the Silver Wheaton renegotiation behind us, the company looks to be re-

energized for positive developments in the future. While higher silver prices will

cure many ills for a company like Alexco moving forward, the fact is clearing a

major obstacle like the Silver Wheaton situation really helps the overall outlook.

Shares of AXR appear to be on a better trajectory for the short-term but higher

silver prices are still needed for the longer term catalyst for a sustainable higher

share price.

While the company is still bleeding cash and posted another loss on March 30th,

the overall bottom line is improving.

Alexco's president and chief executive officer Clynt Nauman said: "A lot was

accomplished by Alexco in 2016, nothing more important than our exploration

success at Bermingham along with raising additional capital, establishing the

portal for our Flame and Moth underground access, and commencing an updated

Keno Hill preliminary economic assessment subsequently completed in March,

2017. With the March 29, 2017, announcement of a Silver Wheaton amended

silver purchase agreement, Alexco launches into 2017 squarely focused on moving

forward with additional surface exploration, underground exploration and

development, mill upgrades, and preparation of a prefeasibility-level study, all

necessary steps on the way to a final production decision."

In my view, the company is set to accomplish some big milestones at a time of

potentially rising silver prices, a great combination for a much higher share price.

Alexco still has big upside potential from the current share price if things go as we

anticipate.

AXR is a BUY.

Almaden Minerals Symbols: TSX: AMM, NYSE: AAU Shares Outstanding: Roughly 65 million Current Share Price: C$1.61, US$1.20 cents 52 Week High/Low: C$2.44 – 0.88, US $1.88 – 0.65 cents Initial Recommendation Price: C$0.72, US$0.50 Company website: www.almadenminerals.com Almaden Minerals is a grassroots exploration company specializing in the generation of new mineral projects with world class potential. Their highly experienced and successful management team is one of the best in the junior mining space. They have shown over a long period of time that they know how to judiciously use company funds to make new discoveries that build value. The company currently has roughly $14 million in the treasury and about 1,500 ounces of gold. They operate in Mexico, Canada, and the United States and have an

incredible portfolio of projects at various stages of development. Their Tuligtic Project is 100% owned. Within this project is the Ixtaca zone – a gold-silver discovery in Mexico that has become their flagship project.

Shares of Almaden had been tracking sideways with the lackluster market until

they made a key press release yesterday that gave us a bump higher.

The company did report positive results of the independent Pre-Feasibility Study

("PFS") and resource update prepared in accordance with National Instrument 43-

101 ("NI 43-101") for its 100% owned Ixtaca precious metals deposit, located in

Puebla State, Mexico.

HIGHLIGHTS (all values shown are in $US; base case uses $1250/oz gold and

$18/oz silver prices):

Pre-tax NPV (5%) of $484 million and internal rate of return of 54%;

After-tax NPV (5%) of $310 million and internal rate of return of 41%;

Initial Capital of $117 million;

After-tax payback of initial capital in 2.2 years;

Total LOM production of 1.04 million ounces of gold and 70.9 million ounces of

silver doré produced on site (2.07 million gold equivalent ounces, or 143 million

silver-equivalent ounces at a 69:1 silver to gold ratio);

Average annual production over the first 9 years of 88,780 ounces gold and 5.47

million ounces silver (168,100 gold equivalent ounces, or 11.6 million silver

equivalent ounces);

Operating cost $706 per gold equivalent ounce, or $10.20 per silver equivalent

ounce;

All-in Sustaining Costs ("AISC"), including operating costs, sustaining capital,

expansion capital, private and public royalties, refining and transport of $862 per

gold equivalent ounce, or $12.50 per silver equivalent ounce;

Proven and Probable Minerals Reserves of 65 million tonnes averaging 0.62 g/t

gold and 37.8 g/t silver (average head grade of 1.16 g/t gold equivalent using a

69:1 silver to gold ratio).

J. D. Poliquin, Chairman of Almaden reported, "We are very pleased to have

advanced Ixtaca from a blind discovery in 2010 to its current position as an

outstanding inventory of precious metals in a well-established mining jurisdiction

with a very robust economic profile. We are now looking forward to further

developing this deposit through permitting, more advanced engineering and

continued drilling of portions of the Ixtaca deposit that remain open as well as

other targets on what remains a largely unexplored property."

The way to look at this is just another stepping stone towards production. Many

of you know of the Life Cycle of a Mining Share chart that I show at times to help

subscribers understand where we stand when a news release like this comes out.

Based on the chart above, Almaden is still clearly in the middle goldish/ brown

area moving along the flat line, probably a couple years away from production.

The big fireworks for the company will happen when gold prices go higher and the

company starts production. When the two of those can coincide, we could see a

real nice upward trajectory for our shares. The light blue area is when companies

like this have a big revaluation, especially at times of rising gold prices and an

exciting mining market.

Will we be lucky enough to get everything going our way? Time will tell, but you

can see the potential of a company like Almaden that moves into production.

Almaden is a BUY.

Balmoral Resources

Symbols: TSX: BAR, OTCBB: BALMF

Shares Outstanding: Roughly 117 million

Current Share Price: C$0.80 cents, US$0.60 cents

52 Week High/Low: C$1.28 – 0.48 cents, US $0.99 cents – 0.36 cents

Initial Recommendation Price: C$0.35

Company Website: www.balmoralresources.com

Balmoral has at least 3 highly significant high-grade projects including Martiniere (gold), and

Grasset (Nickel, PGE’s, gold, copper). The company has consistently delivered high grade

results and has received the coveted “Prospector of the Year” award twice from Quebec.

Balmoral has a strong cash position and continues to develop its resources while attracting the

attention of major funds.

Shares of Balmoral have been tracking sideways with little in the way of news as

of late.

After publishing a steady stream of drill results from work in the fall, the company

should soon be releasing some news about how they will expand the known

discoveries on their Martiniere project. Thus far the drill results have been

excellent but the company share price did not move as I expected. This could be

because the company will now how to better define the discovery for expansion

before the market will reward shareholders.

From what I have heard, the upcoming drill program for this year will be very

robust, upwards of 25,000 meters of drilling to see if we can tie some of the

expansion areas together for better economics of the overall discovery area.

BAR is a BUY.

Canadian Zinc

Symbols: TSX-V: CZN, OTCBB: CZICF

Shares Outstanding: Roughly 218 million

Current Share Price: C$0.22 cents, US$0.17 cents

52 Week High/Low: C$0.41 cents – 0.14 cents, US $0.32 cents – 0.11 cents

Initial Recommendation Price: C$0.42

Company Website: www.canadianzinc.com

With the permits now in hand, the primary focus for CZN is getting a buyout or moving into

production (PRD).

Shares of CZN have not performed well in the last two months dropping from

C$0.31 cents to the C$0.22 cent level. This is at a time when zinc prices have

been rising, but silver prices remain low.

I can’t see any major reason why the shares have suddenly become weak, but it

could have something to do with current shareholders needing some money to

invest in other sectors that are performing better. This is just a guess in my part,

but otherwise I can’t see any reason for concern.

A higher silver price should put us right back on track. Looking at the silver chart

for last month, we were at the $16.00 an ounce level, something that is currently

holding us back.

CZN is a BUY.

Dynacor Gold Mines

Symbols: TSX: DNG, OTCBB: DNGDF

Share Outstanding: Roughly 36 million

Current share price C$2.36

52 Week High/Low: C$3.71 - $1.86

Initial Recommendation Price: C$1.65

Company Website: www.dynacorgold.com.com

DNG is a non-dilutive gold Company and employs a contrarian methodology to increasing

shareholder value when compared to its peers in the junior resource sector.

Dynacor Mines began operating in Peru in 1996. That year, the Company commenced the

construction of the Huanca-Acari gold ore-processing plant in southern Peru. Dynacor poured

its first gold in 1998 and has since, through a methodical and disciplined approach, grown its

gold production to 61,274 ounces in 2012 from 3,014 ounces in 1998, an increase of 1933%.

The Company is today the 2nd largest custom gold ore-processing Company in Peru and is well

respected by the mining community as an honest and reliable partner.

Dynacor Gold Mines has provided an update.

Despite the extremely intense rainy season this year in Peru, ore purchases in the

first two months of 2017 are up by more than 30 per cent and gold production by

24 per cent as compared with 2016.

Generally, Dynacor's gold production is lower in the first three to four months of

any given year due to the rainy season which slows artisanal mining activity and

ore transport to the processing plant. However, in 2017, due to the new plant's

strategic location in Chala just minutes off the main Pan American highway access

for ore trucks is greatly facilitated. Production increased in the first two months

and even reached an all-time record for the month of February of 6,736 ounces as

compared with previous years.

This increase is also due to the measures taken by the company to increase gold

production in the last six months of 2016. For instance, since the Chala plant

began operations, Dynacor has been buying ore from more than 100 new small

artisanal miners.

Both in northern and central Peru, extreme weather conditions have worsened in

March and flash flooding, landslides and intense rain are having an effect on the

national economy and activity in all sectors. The company expects that ore supply

for the Veta Dorada plant in Chala will be somewhat lower until mid-April;

however, the company should see much higher levels of gold production for the

balance of the year.

Dynacor's new 300-tonne-per-day Veta Dorada plant is targeting 88,000 to 92,000

ounces of gold production in 2017, a 20-to-26-per-cent increase as compared with

2016 (see press release dated Jan. 12, 2017).

All is looking good for the company. The rough patch they went through to get

the new plant up and running smoothly is finally paying off. I expect higher gold

prices with this type of production slated for 2017 should give us some significant

life in our share price.

DNG is a BUY.

Ely Gold (DEV) Symbols: TSX-V: ELY, OTCBB: ELYGF Shares Outstanding: Roughly 65 million Current Share Price: C$0.14 cents, US$0.11 cents 52 Week High/Low: C$27 cents, US$0.08 cents, US $0.20 cents – 0.06 cents Initial Recommendation Price: C$0.45 Company Website: www.elygoldandminerals.com

The primary focus of Ely Gold is to reinvent itself and protect the cash they have from the Waterton deal. Now that the deal for 30 Nevada projects has been finalized, Ely Gold now finds itself as a company that is trying to build royalties with deep pocket partners who have interest in their Nevada projects.

No news as of late coming out of Ely Gold, but I expect management is working on deals with companies that are seeking good exploration projects in Nevada and Arizona. Ely has a wonderful portfolio of projects that others would like to acquire.

I fully expect that ELY will continue to make further deals with others on many of their key projects for the balance of this year and in the years to come.

Many companies who would like to find a good project are finding the pickings are slim and must look to a company like ELY that has a whole portfolio of top notch projects that others covet. The trick is getting everyone to agree on the terms so another deal can get done. And when that one is done, we work on another one hoping that one of our partners goes about their business and makes a discovery or two, or three.

We benefit when they have success because we own some of their shares, and control a nice royalty on the project.

Overall, I love the model, but investors don’t seem to agree as of yet. I realize we are still early stage in the model, but the company has done many good deals already with more on the way in my view. Given some maturity, I believe ELY represents great value at the current share price. Time will tell but there is no need for the company to do any shareholder dilution so patience should be rewarded over the long haul.

ELY is a BUY.

Endeavor Silver (PRD)

Symbols: TSX: EDR, NYSE: EXK

Shares Outstanding: Roughly 103 million

Current Share Price: C$4.99, US$3.73

52 Week High/Low: C$7.75 - 3.07, US$5.95 - 2.35

Initial Recommendation Price: C$2.15

Company Website: www.edrsilver.com

Endeavor Silver operates three high-grade underground silver mines in Mexico, which in 2015 collectively produced 7.0 million ounces of silver.

Shares of the company took a dipsie-doodle on the big drop in silver prices in early March but have since recovered. The latest chart shows a “U” formation for the past two months.

The company recently released its guidance for 2017, forecasting production of

5.2 million to 5.7 million ounces of silver and 50,000 to 53,000 ounces of gold, on

a capital budget of $43.3-million. All-in sustaining costs are expected to average

$14 to $15 an ounce.

At current silver prices you can see why things are tight. Many producers are

running a tight ship these days and are hoping and looking forward to a much

higher silver price to make life a lot easier.

Companies like Endeavor have squeezed the last drop of efficiency and savings

they can get out of their operations so they should be able to take advantage

when silver prices head higher.

EDR is a BUY.

Eurasian Minerals (EXP and DEV)

Symbol: TSX-V: EMX, NYSE: EMX

Shares Outstanding: Roughly 74 million

Current Share Prices C$1.30, US$0.96 cents

52 Week High/Low: C$1.84 – 0.77 cents, US$1.40 – 0.57 cents

Initial Recommendation Price: C$2.01

Company Website: www.eurasianminerals.com

The primary focus of Eurasian Minerals is exploration (EXP).

Eurasian Minerals is building wealth via exploration discovery, property portfolio growth, and the development of a royalty income stream. EMX's execution of the prospect generation business model supports precious and base metals exploration programs in some of the world's most promising, yet under-explored frontier regions. In addition, the Company has an expanding royalty portfolio with a multimillion dollar annual cash flow. Eurasian is aggressively adding high quality exploration properties and value to its portfolios in the United States, Turkey, Europe, Haiti, and the Australia-Asia Pacific region. The Company maintains a strong Treasury, and is strategically positioned to take advantage of the current investment climate through solid technical advances, unique in-country expertise, and timely business initiatives.

Surprisingly, shares of EMX have been on a slight downward trajectory as of late. I can’t see any reason for this other than the boring market at the moment and the fact the company has not had any news of late. Overall, I like the royalty part of the story that looks to get better as EMX’s partner (Newmont) expects to expand their activities for 2017 at the Leeville mine potentially increasing the royalty payment to Eurasian Minerals. EMX is a BUY.

Excellon Resources (EXP and PRD)

Symbols: TSX: EXN and OTCBB: EXLLF Shares Outstanding: Roughly 55 million Current Share Price: C$1.60, US$1.22 52 Week High/Low: C$2.40 – 0.56 cents, US$1.84 – 0.42 cents Initial Recommendation Price: $0.02 cents Company Website: www.excellonresources.com

The primary focus of Excellon is exploration (EXP and PRD) of the Platosa project.

Excellon’s 100%-owned and royalty free La Platosa Mine in Durango is Mexico’s highest grade

silver mine, with lead and zinc by-products making it one of the lowest cash cost silver mines in

the country. The Company is positioning itself to capitalize on undervalued projects by focusing

on increasing La Platosa’s profitable silver production and near-term mineable resources.

Excellon Resources continues to optimize their high-grade Platosa Mine and explore for further mineralization.

EXN’s share price is treading water as the company is approaching the completion of the optimization plan they hope will increase profits and production. The company has spent a lot of time, effort and money to optimize the operations for the future and 2017 could be a breakout year for production.

"We laid the foundations in 2016 for a significant transition in Excellon's fortunes

over the course of 2017," stated Brendan Cahill, president and chief executive

officer. "We materially advanced and are now near completion of our

optimization plan at Platosa, which has already proven effective and promises to

improve mine production and costs during the latter half of 2017, with dry mining

conditions at Platosa expected to be achieved finally during the second quarter of

2017. We expect to have an update on drawdown rates in the near term as more

data are collected. Production during 2016, though certainly below mine

potential, only minimally depleted Platosa mineral resources, leaving more high-

grade resources to mine at higher rates and lower costs under dry mining

conditions in the coming years. Additionally, our resumption of exploration at

Platosa has delivered high-grade and near-term accessible mineralization. We

plan to move further afield in the coming quarters, including resumption of

exploration for skarn source/CRD mineralization. Most importantly, however, we

have added exceptional new people to our team and look forward to fully drawing

on their experience going forward to improve our performance."

EXN is a BUY.

First Mining Finance Corp.

Symbols: TSX-V: FF, OTCQX: FFMGF

Shares Outstanding: 543 million, 628 million fully diluted

Current Share Price: C$0.83 cents

52 Week High/Low: C$1.31 – 0.39 cents, US$1.02 – 0.30 cents

Initial Recommendation Price: C$.88 cents

Website: www.firstminingfinance.com

First Mining Finance Corp. is a rapidly growing “Mineral Bank” founded by Mr. Neumeyer (founder of

First Majestic Silver Corp. and First Quantum Minerals Ltd.) to take advantage of bear market conditions

for mining equities. Since listing in April 2015, the Company has completed a total of eight acquisition

transactions thereby increasing its NI 43-101 gold ounces from zero to 7 million ounces (“Moz”) in the

Measured and Indicated categories and 5.4 Moz in the Inferred category. First Mining has created a

diversified portfolio of 25 projects in prime regions of eastern Canada, Mexico and the United States.

The company is now moving forward to unlock the value of its assets through drilling, metallurgical

studies, adding to infrastructure and conducting economic studies. When future market conditions are

optimal, First Mining will monetize its project portfolio for shareholders by entering into agreements

with third parties that will move the projects into production while the Company retains residual

interests in the projects. This will be achieved through joint ventures, earn-ins, equity positions,

royalties, streaming structures or a combination of the foregoing.

After initial recommendation, shares of FF have been in the same downward

channel that some of our other companies have seen. Overall, I think this is

mostly a quiet market scenario that will correct itself as the mining shares get into

a busy summer season.

While the lack of direction in the precious metals spot prices is troubling for the

short-term, everything looks good from my perspective in the medium to long-

term trend. We see plenty of catalysts that could happen at any time which could

easily push our market to the upside, so this lull is a good entry point for new

accumulation in any of our recommended shares.

Several of you have questioned my recommendation of this company stating the

awful share structure. While I had not had the time to respond to all the emails

I’ve been getting of late, I wanted to respond directly to this concern.

I have been watching First Mining Finance for quite some time. It’s been on my

radar screen since last fall. While I love the model, I don’t like the share structure

either. If it wasn’t for founder Keith Neumeyer, I would not be involved with the

company.

But as I’ve seen in this industry, there are certain individuals within the mining

space that carry an amazing amount of clout. In the top 10 individuals who are in

this class, Keith Neumeyer certainly qualifies in my view. He has put together a

solid portfolio of assets into a great model for growing value if you believe in

higher precious metals prices. Mr. Neumeyer knows what it takes to be

successful and thinks the FF portfolio will be revalued to a much higher level

when metals prices are move towards new highs. I agree with him despite the

fact that he had to issue a lot of shares to get the portfolio he has.

The other factor that I am aware of is with so many shares out, there is a ton of

paper issued at lower prices that will hit the market hard when the share price

does move higher. I will be watching this closely and if I feel there is too much

risk I may re-evaluate.

Overall, this is a play on a person and a model that I think could deliver in a big

way if we get a robust market along with a rapidly rising gold and silver price.

FF is a BUY.

Gold Mining, Inc. formerly (Brazil Resources)

Symbols: TSX-V: GOLD, OTCQX: GLDNF

Shares Outstanding: Roughly 85 million

Current Share Price: C$1.77, US$1.33

52 Week High/Low: C$3.35 – 0.74 cents

Initial Recommendation Price: C$0.40 cents

Company Website: www.goldmining.com

Goldmining is advancing its Sao Jorge and Cachoeira gold projects in Brazil, Titiribi gold-copper project in

Colombia, Whistler gold-copper project in Alaska, and its Rea uranium project in the western Athabasca

basin in Canada.

Shares of GOLD have been on a slight downward trajectory in recent months

despite the increase in the gold price after the interest rate announcement in the

United States.

The company has been quiet on the news front but remains active behind the

scenes on multiple projects, including a uranium project in the Athabasca basin in

Canada. With uranium looking like it could be on the move, this project could

bring some unexpected value to the company. We’ll have to wait and see, but I

like the diversity of projects in great jurisdictions that management has built into

the portfolio.

GOLD is a BUY.

MagSilver (DEV) Symbols: TSX: MAG, NYSE: MAG Shares Outstanding: Roughly 80 million Current Share Prices: C$18.50, US$13.82

52 Week High/Low: C$23.32 – 12.04 US$18.12 – 9.10 Initial Recommendation Price: C$7.75 Company Website: www.magsilver.com

Mag Silver is focused on advancing and exploring district scale projects located within the Mexican Silver

Belt. Our mission is to become one of the premier companies in the silver mining industry. Currently, we

are developing the underground decline towards the high grade Valdecañas and Juanicipio silver vein

discoveries in Zacatecas State, all within the joint venture between MAG Silver (44%) and Fresnillo PLC

(56%). In addition, MAG is conducting ongoing exploration at the Juanicipio project, and the Salamandra

property earn-in, while concurrently negotiating surface access to our 100% owned Cinco de Mayo

property in Chihuahua State.

The company had a recent press release on financials.

George Paspalas, president and chief executive officer, commented: "[Two

thousand sixteen] was a truly significant and outstanding year for Mag. The

company is well funded. We continue to discover high-potential mineralization

beneath the Valdecanas bonanza zone, which remains open, and we now have an

alternative project scope that enhances the value of the project upon start-up. We

continue a strong working relationship with Fresnillo as we head towards

production and are very excited about the strategy to explore some of the

Greenfield exploration targets on the Juanicipio project."

The company remains well financed, with cash, cash equivalents and term

deposits totaling $139 million as of Dec. 31, 2016.

Mag Silver is a BUY.

McEwen Mining (PRD) Symbols: TSX: MUX, NYSE: MUX Shares Outstanding: Roughly 298 million Current Share Price: C$4.29, US$3.21 52 Week High/Low: C$6.44 - $2.42 US$4.92 - $1.85 Initial Recommendation Price: C$0.98, US$0.74 Company Website: www.mcewenmining.com McEwen Mining Inc. is a growing gold and silver producer in the Americas. Rob McEwen, Chairman &

Chief Owner, owns 25% of the outstanding shares. The Company's goal is to qualify for inclusion in the

S&P 500.

Shares of McEwen Mining Inc. trade on the NYSE and on the TSX under the symbol "MUX". The

exchangeable shares of our McEwen Mining - Minera Andes Acquisition Corp. subsidiary, which were

trading under symbols "MAQ" and "MCEEF", have been redeemed for McEwen Mining common shares

as of August 23, 2016. The Company has an aggregate of 300 million outstanding common shares.

Good thing we took profits when we did on MUX. The stock price has taken it on the chin in recent months and has a nasty downward trajectory. The company has not make any recent news and I have no information on why the share price has not performed as well lately. For some reason, I sense a pattern this month with some of our companies that have the downward trajectory lately. I think it may be investors decided to take some money out of our sector and place it into other sectors. I really can’t say for sure, but I keep getting that feeling as I doing the updates for the month. McEwen Mining is a HOLD.

PolyMet Mining (PMT) Symbols: TSX: POM, AMEX: PLM Shares Outstanding: Roughly 277 million Current Share Prices: C$1.03, US$0.77 cents 52 Week High/Low: C$1.48 – 0.93 cents, US$1.14 – 0.71 cents Initial Recommendation Price: C$0.05 cents Company Website: www.polymetmining.com

The primary focus of PolyMet is permitting (PMT) on their NorthMet resource in the state of Minnesota.

How did the song go from the late 60’s – and the beat goes on…

But in the case of PolyMet, the beat has gone on and on and on…..the record seems broken at this point – somebody please give the turntable a knock on its side!

While the mining market is quiet right now, shares of PolyMet are in the downward trend as of late. There has been no news to report and as I look on the company website here is what they have posted (in italics) regarding “STATUS.”

State and federal agencies have published the Final Environmental Impact

Statement and the state has completed its environmental review process. The U.S.

Forest Service authorized the land exchange in its Final Record of Decision on the

land exchange and FEIS, while the U.S. Army Corps of Engineers prepares its Final

Record of Decision on the FEIS. We have submitted permit applications to the

state and also are preparing project implementation and financing plans.

These accomplishments place us on track to be the first to commercially mine

copper, nickel and precious metals in Minnesota.

I believe we will see a solid uptick in the share price as those behind the scenes

get wind that permits will be announced soon, but at this point with everything

being so quiet it’s hard to say when they could happen –given it’s in the hands of

politicians.

So the beat goes on as we move into the second quarter of 2017. Looking back at

the situation, I must be getting old as I remember when it looked like permits and

initial production were originally slated for 2009. That was before the EPA got

involved. It’s been eight years and $250 million in expenses to basically come to

the same conclusion we had back in 2007 before the Feds got involved. It’s no

wonder the country is in trouble.

If you are not invested in PolyMet but have been thinking about it, this latest dip

gives ample opportunity to take a position on the cheap for the potential of a

near-term permit announcement.

POM is a BUY.

Pretium Resources

Symbols: TSX: PVG, NYSE: PVG

Shares Outstanding: Roughly 201 million

Current Share Prices: C$14.55 US$10.86

52 Week High/Low: C$16.48 – 6.84, US$12.53 – 5.35

Initial Recommendation Price: C$6.00

Company Website: www.pretivm.com

While our share price has been a bit volatile in recent months, the company

continues to aggressively move through the difficulties of building a mine in a

tough environment.

The company gave a nice update on activities at the Brucejack mine progress. In

the release PVG stated the following in italics:

Pretium is constructing a high-grade underground gold mine at its Brucejack

project in northern British Columbia with commercial production targeted for

2017.

A feasibility study completed in June 2014 has outlined Proven and Probable

mineral reserves in the Valley of the Kings of 6.9 million ounces of gold (13.6

million tonnes grading 15.7 grams per tonne gold).

The 57-kilometer long transmission line connecting the Brucejack Mine to the BC

Hydro power grid was completed on March 21, 2017 and energized on March 31,

2017 following regulatory approval. The transmission line will provide low cost,

clean energy to power the site including the mill and underground operations.

Construction of underground infrastructure, including the crusher, conveyor, and

transfer towers is nearing completion and the electrical substation has been

energized. The underground conveying system has been completed with all belts

installed. With the critical mechanical and electrical components in place,

remaining roof decking and wall cladding will be completed to enclose the portal

building. All conveyor galleries from the Valley of the Kings portal to the mill

building are installed with belt installation to commence over the next week.

The installation of the SAG and ball mills, including liner installation and drive

alignment is on track to be complete the first week of April. Fresh water is

currently being pumped to the fresh and fire water tanks with hydraulic testing of

other areas to continue thereafter. The installation and assembly of the remaining

mechanical, piping, electrical, instrumentation and control components within the

Mill building is progressing.

Underground development continues to advance and the contracted long-hole

drilling crew has been mobilized to site. Over 163,000 tonnes of ore have been

stockpiled on surface and underground. Underground development is advancing,

long-hole drilling of the test stope is complete and drilling of the first production

stope is underway.

Overall, things are looking very good for the company to get its commencement

of production bump for the share price. We’d love for this commencement to be

at a time of rising gold prices and a good market for the mining shares so we get

the best possible ride for all this work.

PVG is a BUY.

Wellgreen Platinum Symbols: TSX: WG, OTC: WGPLF Shares Outstanding: Roughly 126 million Current Share Prices: C$0.29 cents, US$ 0.22 cents 52 Week High/Low: C$0.62 – 0.22 cents, US$0.46 cents – 0.17 cents Initial Recommendation Price: C$0.18 cents Company website: www.wellgreenplatinum.com

Wellgreen Platinum is a Canadian mining exploration and development company focused on the active advancement of its 100% owned Wellgreen platinum group metal (PGM) and nickel project. Located in the Yukon Territory, Canada, a 2015 Preliminary Economic Assessment (the “2015 PEA”) demonstrated that the Wellgreen PGM and nickel project has the potential to become a large, low cost open pit producer of platinum, palladium, gold, nickel, and copper. The Wellgreen property is accessible from the paved Alaska Highway, which leads to year-round deep sea ports in southern Alaska.

Shares of Wellgreen Platinum have been on a downward trajectory that may be due to the quiet market and the lack of anything to report. For miners in the northern hemisphere, this is usually a quiet time if the overall market is not doing much as well. For now, we are approaching drilling and work season for mining in the northern hemisphere for plenty of companies. WG should be announcing details of their plans for the summer and fall seasons coming up. It is disappointing to see the shares retract to these levels. This is why I am so adamant about taking monies off the table as soon as we get to a double or more. Thankfully, we did take profits last August when the share price was much higher.

WG is a BUY.

Exploration Stocks

Here is the EXPLORATION LIST for April.

I only have one change and that is Colorado Resources moves up to number four

as drilling could soon begin on the Green Springs project.

The EXPLORATION LIST is a reflection of the companies that I believe have the

biggest potential to bring us the largest gains in the shortest period of time with

the least amount of risk. The companies are listed with number one being the

mostly likely to succeed in my view and so on.

1. Adamera Minerals

2. Angel Gold

3. Golden Predator

4. Colorado Resources

5. Orex Minerals

6. Solitario Exploration and Royalty

7. Riverside Resources

8. Romios Gold

Adamera Minerals

Symbols: TSX-V: ADZ, OTCBB: DDNFF

Shares Outstanding: Roughly 72 million

Current Share Price: C$0.15 cents, US$0.12 cents

52 Week High/Low: C$0.16 - $0.015 cents, US$0.12 – 0.02 cents

Initial Recommendation Price: C$0.07 cents

Company Website: www.adamera.com

Adamera Minerals is exploring for high-grade gold deposits within hauling distance of the operating

Kettle River mill in northeastern Washington State. The company's strategy is to fast-track the discovery

to production process by exploring close to an existing mill in need of ore. Adamera is exploring several

projects and is the dominant exploration company in the area.

Shares of the company are creeping higher as investors realize there could soon

be an exciting drill play underway. The company is poised to release news

concerning an upcoming drill program on their flagship project in Washington

State.

Any success with drilling in hitting decent intercepts of high grade gold could

ignite our share price, particularly with the side story of an existing (dormant or

soon to be dormant) mill in the area.

I would imagine that the share price will continue to creep higher as we get closer

to when drilling actually begins (maybe mid-May).

As always, when the truth machine turns in an exciting area, it is always fun to be

a part of the excitement. But the results will give us our reality check and

determine if we were right or wrong in our assessment of the potential of this

project.

Hopefully, one of our prospective targets can give us a nice ride. We’ll soon find

out.

Adamera is a BUY.

Angel Gold

Symbols: TSX-V: ANG, OTCBB: ANGCF

Shares Outstanding: Roughly 49 million

Current Share Price: C$0.10 cents, US$0.08 cents

52 Week High/Low: C$0.145 cents – 0.06 cents, US$0.11 – 0.04 cents

Initial Recommendation Price: C$0.07 cents

Company Website: www.angelgoldcorp.com

Angel Gold is a Canadian precious metals exploration company focused on the acquisition and

responsible development of mineral resources in Colombia. Colombia is the most under-

explored country in the Andean region and hosts the northern extension of the mineral-rich

Andes Cordillera.

Colombia is a stable democracy with a history of fiscal responsibility and respecting private

property, including some of the best investor protections in the world. The historical metal

production in the country has been dominated by gold. Angel has considerable in-country

experience and members of its management team directly contributed to Ventana Gold Corp.´s

success.

Shares of ANG have moved a bit higher on several news releases regarding three

surveys on our flagship project in Columbia that have solidified our share price a

bit.

The latest survey news is similar in content to the first two survey news releases

and shows potential continuity within our main project.

"We are excited that the geophysical survey at the Abejero prospect coincides with

the known mineralization from historic drilling and presents a much larger and

stronger conductivity anomaly at the El Porvenir project. The induced polarity

geophysics program conducted on El Porvenir has now support the potential for

mineralized targets to exist at depth and along strike of known mineralization at

all three prospect areas," said Stella Frias, president and chief executive officer of

Angel Gold.

I like this news but drilling will be required at some point. An anomaly is just an

anomaly. As someone once said in the industry – “anomalies are like assholes,

everyone has one.”

It’s nice we are seeing these types of indications and that we are taking the time

to clarify with multiple methodologies that this is an area that should be drilled.

These latest surveys seem to confirm that we have at least three targets that

should be considered for drilling.

The company must now decide if drilling is warranted and how much (in terms of

meters) should be allocated for this work.

Let’s see what they decide to do. Watch for further news to give us the next

steps.

Angel Gold is a BUY.

Colorado Resources

Symbols: TSX-V: CXO, OTCQB: CLASF

Shares Outstanding: Roughly 76 million

Current Share Price: C$0.29 cents, US$0.21 cents

52 Week High /Low: C$0.71 – 0.095 cents, US$0.53 – 0.11 cents

Initial Recommendation Price: C$1.00

Company Website: www.coloradoresources.com

Colorado's current exploration focus is to continue to advance: the KSP property optioned from

SnipGold, located 15 km's along strike to the southeast of the past producing Snip Mine; its

100% owned North ROK property, located 15 km's northwest of the Red Chris mine

development, both located in northern central British Columbia.

The company is actively exploring is what is known in the industry as The Golden Triangle

where many big gold deposits have been discovered over the decades.

Shares of CXO pushed higher today as the company released news regarding

initial drill results at their Green Springs project in Nevada.

The first assays show 25 feet of 9.75 grams per tonne gold.

Colorado Resources Ltd. has received the assay results from its initial phase of

reverse circulation drilling at Green Springs and continues to expand, explore and

advance the property.

Adam Travis, Colorado's president and chief executive officer, stated: "Our Green

Springs phase 1 winter drill program was a success, encountering intercepts up to

135 feet of 3.23 grams per tonne gold, including 25 feet of 9.75 g/t gold in the E

zone, discovering new mineralization with 125 feet of 1.37 g/t gold occurring in

hole 8 in the A zone and finding mineralization in the first-ever drill holes (holes 11

and 12) completed in the G zone, including 20 feet of 1.12 g/t gold in hole 12.

Based on these results, we have completed the staking of additional claims,

expanded the collection of soil samples and will be permitting more drilling."

Well, it looks like my reasons for liking the Green Springs project have been

correct. This is plenty more gold to be discovered on this project. While this is

just preliminary work, CXO will now have to look at the data to see if these initial

good results can be expanded into further success that could grab more market

attention.

This is a great start for both Colorado Resources and Ely Gold at the Green

Springs project. I expect this project will be in play for the rest of the drilling

season and could deliver a much higher share price as the assays keep coming.

Colorado Resources is a BUY.

Golden Predator (EXP)

Symbols: TSX: GPY, OTCQX: NTGSF

Shares Outstanding: Roughly 162 million

Current share price C$1.39, US 1.00

52 Week high/Low: C$2.05 – 0.16 cents, US$1.59 – 0.13 cents

Initial Recommendation Price: C$0.35

Company website: www.goldenpredator.com

Golden Predator Mining is focused on advancing its high-grade 3 Aces project in Canada's

Yukon. The 3 Aces property is a 225-square-kilometer property consisting of 1,118 contiguous

quartz claims (23,000 hectares) located in southeast Yukon. The veins discovered to date are

characterized by coarse visible gold with a low sulphide content consistent with an orogenic

vein model.

In addition the company owns and controls the Brewery Creek project.

After hitting the C$2.00 level, our share price has retreated to the C$1.39 level,

proving that it was smart to take some profits off the table. I’m glad we did.

This is common for our junior mining shares when they have success with drilling

as Golden Predator has, but further exploration work in the field in the Yukon this

summer looks exciting for taking our share price to the next new high.

The company has been active getting monies together and doing some deal

making that could create some further story lines. But for now the main focus will

remain on the Three Aces project and expansion of the know mineralization. I

think there is plenty more upside coming later the year as the drills confirm what

we I expect.

GPY is a BUY.

Orex Minerals

Symbols: TSX-V: REX

Shares Outstanding: Roughly 114 million

Current Share Price: C$0.20 cents

52 Week High/Low: C$1.38 – 0.19 cents

Initial Recommendation Price: C$0.60 cents

Company Website: www.orexminerals.com

Orex Minerals Inc. is a Canadian-based junior mineral exploration company with an impressive

portfolio of large gold, silver, and copper exploration projects on renowned mineral trends in

Mexico (Coneto and Sandra Escobar Projects), and Canada (Jumping Josephine Gold Project).

Each project has impressive merits of its own; packaged together, the chance of Orex making

the next big resource discovery increases dramatically. The Company's directors and

management include industry professionals with a consistent track record of identifying and

advancing successful mineral exploration projects.

Our share price continues to languish as the company is still suffering from the

news of metallurgical issues on the newly discovered ore body from last year.

While the company tells me that only part of the ore has this problem, REX must

prove to investors that this discovery is economically salvageable and can

continue to grow with the part that is not affected with metallurgical challenges.

The latest phase V drilling program tested a variety of targets across the Coneto

property. In total, there were 5,214.90 meters in 11 holes. Three holes were

drilled in the northern zone (La Bufa, Santo Nino), three holes in the western zone

(Loma Verde), four holes in the southern zone (Durazno, Nogales, Promontorio)

and one hole in the central zone (Descubridora).

Orex's president, Gary Cope said, "This drilling program continues to expand our

understanding of the multiple structures on the Coneto project and we are

planning additional exploration with our colleagues at Fresnillo."

The company has their work cut out for them to turn the bad perception around,

but if any team can do it, I would bet on Gary Cope’s team to get it done.

We need to give this more time to see how it turns out.

Orex is a HOLD.

Riverside Resources

Symbols: TSX-V: RRI, OTCBB: RVSDF

Shares Outstanding: Roughly 43 million, 46 million fully diluted

Current Share Price: C$0.45 cents, US$0.35 cents

52 Week High/Low: C$0.60 – 0.20 cents, US$0.46 – 0.17 cents

Initial Recommendation Price: C$0.55 cents

Company Website: www.rivres.com

Riverside is a well-funded Prospect Generator that has demonstrated consistent growth by

generating an exciting portfolio of gold, silver and copper projects over its eight year history.

Leveraging its in-house technical knowledge, Riverside’s geologists use the Company’s mineral

location database---a vast treasury of field knowledge spanning decades of research---to

uncover opportunities that might otherwise be overlooked.

The company manages an impressive portfolio of high potential projects that continues to

improve with time.

Riverside Resources announced it has closed its previously announced private

placement. The placement was over-subscribed and the Company issued

6,257,367 units at a price of $0.55 per unit for gross proceeds of $3,441,552

instead of the 5,500,000 units ($3,025,000) originally contemplated.

Each unit (a "Unit") consisted of one common share and one half of one common

share purchase warrant. Each whole common share purchase warrant is

exercisable into one common share for a period of two (2) years from closing at a

price of $0.85 per share. The term of the warrants is subject to an accelerated

exercise provision that triggers a shortened exercise period if the Company's

shares trade at $1.15 or higher for 15 consecutive trading days after July 16,

2017 but prior March 15, 2018.

Management and insiders subscribed for 445,500 Units for $267,025 in total

proceeds to the Company.

The company now has ample cash in the treasury and can feel secure in moving

their agenda forward.

RRI is a BUY.

Romios Gold

Symbols: TSX-V: RG, OTCBB: RMIOF

Shares Outstanding: Roughly 168 million

Current Share Price: C$0.0.05 cents, US$0.03 cents

52 Week High/Low: C$0.10 – 0.045, US$0.08 – 0.03 cents

Initial Recommendation Price: C$0.07 cents

Company Website: www.romios.com

The company share price is not active at the moment but could be when gold

prices take off and the Galore Creek project comes back into view. Romios

controls a key piece of surrounding land that would be critical to the builders of

the Galore Creek mine.

If and when it does go into play, the Romios share price could see a significant re-

valuation higher and most likely would be bought out. Look at the ten year chart

to see what I am saying.

Romeos is a BUY

Solitaire Royalty and Exploration

Symbols: TSX-V: SLR NYSE: XPL

Shares Outstanding: Roughly 40 million

Current Share Price: C$1.11 cents, US$0.84 cents

52 Week High/Low: C$1.29 – 0.58 cents, US$0.95 – 0.43 cents

Initial Recommendation Price: C$0.58 cents

Company Website: www.solitarioresources.com

Solitario’s current cash position is approximately $17.5 million, with no debt. The future plans

and objectives are simple - Solitario will continue its battle tested strategy of identifying and

acquiring attractive, high-potential precious and base metal projects where they can add

significant value through focused technical work.

The company believes that this is the best path for generating significant new shareholder

value. The company will remain flexible in our approach – with a focus on gold, silver and zinc,

but will not rule out other metals or corporate opportunities. Their targeted geographic range

will stress safe jurisdictions in the Americas, with an emphasis in Peru, Mexico, Canada and the

U.S., but we will consider venturing outside of these jurisdictions if the right opportunity

presents itself. They plan to target relatively early-stage exploration projects that have some

drilling, and potentially a defined resource with excellent upside potential, but we will also

consider select Greenfield projects with defined exploration targets and/or more advanced

exploration or pre-development projects where our feasibility and permitting experience may

be valuable.

Shares of SLR have bucked the trend and have had a nice upward trajectory in

recent months. I credit this to higher zinc prices which help the company

storyline on their major zinc asset in South America.

Overall, the company is cashed up well and looking to improve its position in the

market place on multiple fronts. Because the company is well managed, I believe

they deserve a place on our recommended list for exploration potential and

existing project development.

Solitario is a BUY.

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