1. Goldsource has about 20 million shares outstanding. A market capitalization of $400 million.
   
2. Goldsource has recently raised $16 million

Subsequent to the drilling these holes, the company will prepare an official filing 14-101. At that stage, preparation will be made for actual drilling which will start during the winter of 2008/2009. Based on the cost of living, and the valuation of the coal deliveries, after building the infrastructure, coal can actually be delivered in early 2010. At that time, however, the value of the coal deposit can jump from $1 to $5 and an arithmetic of unusual nature would present itself.

1. The United States produces over 1 billion tons or about 35% of the world’s coal supply – more than any other country produces.
2. Coal generates more than half of the electricity used in the United States.
3. U.S. coal deposits contain more energy than that of all the world’s oil reserves.
4. The United States has more than a 250-year supply of coal if it continues using coal at the same rate at which it uses coal today.
5. Each person in the United States uses 3.8 tons of coal each year.
6. More than 2 million acres of mined lands have been reclaimed over the past 20 years – that’s an area larger than the state of Delaware.
7. The average coal miner is 42 years old and has 20 years of experience.
8. Wyoming is the top coal producing state producing about 390 million tons in 2004. Montana is the state with the most coal reserves of about 120 billion tons.
9. Coal ash is used as filler for tennis rackets, golf balls, and linoleum.
10. Texas is the top coal consuming state using about 100 million tons each year.

The United States produces about 35% of the world’s coal, more than any other country, and has more than 250 billion tons of recoverable coal, enough to last for hundreds of years.

Coal is essential, as it is used to generate more than half of all the electricity produced in the U.S. It’s also used as a basic energy source in many industries, including steel, as well as cement and paper. It’s also used as a heating fuel. Coal is good for the economy too as coal production provides thousands of jobs in exploration, mining, the supply of products and services, transportation and a whole host of other support jobs.

Coal is available as there is enough to last over 250 years. Many U.S. coalbeds are close to the earth’s surface and modern mining methods allows easy reach of most of our coal reserves.

Greater use of coal will help the U.S. become more self sufficient in energy. In addition to its use as a solid fuel, coal can be converted to gas to replace expensive imported fuels. Consumers also benefit because coal is an economical fuel. With expanded clean coal use, coal can help solve our energy problems. Like gas and oil, coal is a fossil fuel.

There are four major uses of coal in the U.S. Electric power generating plants burn coal to make steam. The steam turns turbines which generate electricity. Electric utility companies use about 90% of coal mined in the U.S. Coal is also used for industry, such as concrete and paper, and ingredients of coal, such as methanol and ethylene are used in making plastics, tires, synthetic fibers, fertilizers, and medicines. Coal is also used for making steel. It is baked in hot furnaces to make coke, which is used to smelt iron ore in the steelmaking process. The carbon in coal gives steel the strength and versatility for products such as bridges, buildings, and automobiles. Coal is also exported to Western Europe, Canada, and Japan.

The remarkable nature of the fact that the size of Goldsource's coal reserve and potential production creates the opportunity that is usually called in financial literature, a Xerox type of phenomenon is happening.

(Article 92 - posted July 1, 2008)

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