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Silverado

Bob Moriarty
January 22, 2003

Sherrie Gossett's trashing of Silverado on WorldNetDaily last night is a hatchet job of The First Order, albeit an extremely well-researched hatchet job.

When I read the piece last night, we were in a quandary as to whether we should post a link or not; Silverado have been faithful advertisers at 321gold for many months, (they pay us $1,000 a month, no stock/no options), I have visited Silverado's offices in Vancouver, I am going up to Alaska to see the Nolan property this summer and I count Garry Anselmo as a good gold friend. And we have posted various positive analyses of the stock, both from a fundamental and a technical viewpoint.

Last night we decided against posting a link.

But today I have received so many emails from Silverado stockholders and 321gold subscribers, that we feel we must make the piece available to our readers.

Obviously the article raises some real issues of overstating resources and assets. If they are true, Garry should come clean and put this behind him.

Other issues, such as how much gold they are physically producing 'this year,' are totally absurd. Nolan is 100 miles north of the Arctic Circle. The rivers freeze in early September and remain frozen until June. So anyone talking about producing gold 'this year' at Nolan when they only began work in October (2002) would be talking about doing the actual recovery starting in June (2003).

Silverado got overpriced and I was suggesting people sell it at $.75 in December. But they do have cash in the bank and are mining gold today. The stock has a price where it's worth buying and a price where it's worth selling.

But above all, the reader must realize that each investor is responsible for his own due diligence. It's your money and no one can take the responsibility for you.

Jan 21 Canada's Silverado: hottest gold stock? Sherrie Gossett WND

-Bob Moriarty
January 22, 2003

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321gold Inc Miami USA