US Dollar Collapse: Reversal in Confirmation TNR.v, CZX.v, GRC.to, NGQ.v, GBN.v, ASM.v, EPZ.v, KTN.v, FVI.to, MGN, VTR.v, GDX, SLV, HUI, XAU, BTT.v,

"We will speculate on the real events behind the scene on a day of Cyber Meltdown: spectacular Dow Crash by the magnitude of 1000 point in fifteen minutes. We will develop a very strong argument in favour of Inflation and its cost based on PhD Thesis: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations. We will draw some lines on How Lithium, Gold and price of Oil are connected and what it means to be grounded. In the end we will leave you with the question: Where to invest - In Ben Bernanke, Ink Factory, Helicopters, Oil or Gold and Lithium?
Our memories from 2008 meltdown and the last deflation strike in March of last year are still too vivid for us to stay rational amid recent market panic of this week. Was it the fat finger, Cyber Meltdown or revenge of the Government Sachs, which was striped of its Olympus glamour is not so important - the most important message is the reaction of the Market itself and actions of the people in charge to follow."

We have further confirmation of US Dollar Bearish reversal with double Top in the making now. We need to clear 85.17 on the down move to make it decisive. China's confirmation of confidence in Euro was the last shoe to drop for Green Fellow levitation: as you can see below it was a very expensive exercise. Markets were again in a free fall and they better stop now at the key technical levels. Second Deflation Scare episode is almost over and price will be paid by further debasement of all currencies against the Gold, Silver and Oil amongst other commodities.

Dow is in Bullish Reversal now at the key technical level confirming the third test of the lower band of recent trend. We have a very bullish candle two days ago and yesterday the level was retested by late day selling. Today's action provides another confirmation for Deflation Scare to be subsiding and Euro panic is slowing down with news from China, declining review of SAFE Euro holdings. Fear index below is confirming its Reversal and appetite for Risk assets will be coming back with further improvement in indicators fooled by flood of liquidity provided. Euro bail out with almost 1 Trillion in USD terms and QE on the run have shadowed domestic bills for another 30 billion in Job support program and further requests for capital from bottomless Freddy and Fannie.

Risk appetite is coming back and this Summer can be really Hot in some sectors, we think that Oil starting from 70 USD now after this Second Deflation Scare on sovereign default will provide necessarily catalyst for the move above 90 USD. Our Lithium play will be enjoying next bull leg up with oil passing north of 80 USD.

"Recent Oil Spill shows the real price for Oil and leaves no doubt for us that there will be no more cheap oil: offshore drilling is costly now, it will be even more costly later. Relatively cheap Oil is in the hands of state owned companies in not so friendly to U.S. places. Oil squeeze will come from diminishing production rates and rising Inflation. The move will be even more explosive than in the Gold market - in the end only minority of people is effected by the gold price even now, Oil is the underlining of all Western Energy Diet. It is not sustainable. Emerging markets are taking more and more share of world wide production, oil producing countries are spending more at home. If you account all cost to produce, deliver and protect Oil supply to U.S. corp the price is already above 150 USD/barrel.
"Peak Oil and Lithium: Joint Operating Environment 2010
Please pay attention, this report is written by those who knows the Real Price of Oil. If you account all military needed to protect Oil supply lines and cost of wars to get more oil, price will be well above 150 USD/barrel already. Now we all have another problem: there is simply no more oil enough for all. Will future wars for oil be the only answer?"
Another "liberation" operation like Iraq, this time against Iran will break the camel's back with no return point. Competition for Oil is heating up and aggressive move by China into Electric Cars leaves no other options for US than to follow. In order to keep power China needs gradually improve standard of living, it will bring upside pressure on labor cost. Electrification will not only provide Energy Security to China, but will significantly reduce the cost of its transportation element and provide another opportunity to stay among low cost producers. Situation is completely different to U.S. - they have capital to invest in Electric Mobility CAPEX now and rip the rewards of lower cash cost on transportation side later. We will refer you to the Economics of Electric Cars.
Recent Ash Cloud events in Europe brought a very sobering sense of the feeling to be grounded. It is amazing how many things are taking for granted. This time it is Ash Cloud - what will happen with oil above 150?
Electric Cars is the only commercially viable technology today to sustain mobility world wide with rising Oil prices. Lithium is at the heart of Green Mobility revolution - it is an industry adopted standard for batteries and billions of dollars are invested into battery technology and upcoming by the end of this year Electric Cars on a mass market scale. This Bull market is still very young - only a year or so from the beginning after the crash of 2008.
We will provide you with few links to study the subject further:"

Germany to Euro Shorts: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.” TNR.v, CZX.v, GBN.v, ASM.v, GRC.to,

Nothing is for certain, but our reversal in USD is well under way. With US Debt close to 13 Trillion all Euro situation is just an aberration in the History of US Dollar Collapse. US budget deficit is projected for years ahead to stay above 1 Trillion dollars with Gross Federal Debt well over 70% of GDP assuming it at 14 trillion, can you even imaging in U.S. German rules:

"Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016."

On a weekly chart US Dollar is very close to finish this week with a very strong Bearish reversal candle.

Do not burn your Euros yet, US Dollar was appreciating on Europe worries, but the weaker Euro is exactly what Europe needs in Competition for Export to Emerging markets and China first of all.

After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?
Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:

FT:

Bundestag backs eurozone rescue

By Quentin Peel in Berlin
Published: May 20 2010 12:52 Last updated: May 21 2010 11:37
Germany’s lower house of parliament on Friday approved Berlin’s contribution to a €750bn stabilisation package for the eurozone.
After fraught talks with parties in the Bundestag on Thursday, it became clear that Angela Merkel, chancellor, would win a majority in favour of German credit guarantees of up to €150bn ($187bn, £130bn) from her centre-right coalition but fail to win cross-party support from the opposition Social Democrats and Greens.
The Bundestag passed the bill with 319 votes in favour, 73 against and 195 abstentions. The Bundesrat upper house is expected to pass the bill later on Friday.
Ms Merkel’s promises of tougher rules for the eurozone and action to curb speculation in the financial markets have been part of the price to win parliamentary support for the loan guarantees. A move to ban naked short-selling of eurozone debt was also seen in Berlin as a clear political gesture to win the parliamentary majority
On Thursday Ms Merkel stepped up pressure for a global agreement on tighter financial regulation, a banking tax or levy and a financial transaction tax, while spelling out the rules it wants members of the eurozone to adopt to curb their public debts and deficit spending.
George Osborne, UK chancellor, was separately expected to tell EU finance ministers in Brussels on Friday that Britain would resist attempts to improve economic governance that require a change to the European Union treaty.
The new UK government is committed to a referendum on any treaty that transfers new powers to Brussels. Mr Osborne has said he will oppose suggestions that he should show his Budget to the European Commission before presenting it to parliament.
Thomas De Maizière, Germany’s interior minister, said Berlin would increasingly seek to defend its own interest in the EU while shedding its role as passive paymaster. “Germany is going to act just as other European countries do in Brussels and this will not make it automatically anti-European,” he said.
Wolfgang Schäuble, finance minister, published a nine-point programme of proposals for more rigorous policing of the budgetary policies of eurozone members, including a proposal to draw up a procedure for “orderly state insolvencies” for countries that cannot service their debts.
Other points in his plan, to be presented on Friday at the first meeting of a task force in Brussels charged with rewriting the rules of the common currency area, include stripping countries of their votes if they persistently break stability and growth pact limits on deficit spending, and cutting them off from regional investment funds.
Mr Schäuble also wants the other 15 members of the common currency to adopt a similar national law to the German debt guillotine, a law enshrined in the German constitution committing the government to a balanced budget, with a maximum structural budget deficit of just 0.35 per cent of GDP by 2016.
Ms Merkel and Mr Schäuble are adamant that more action must be taken at the level of both the EU and the Group of 20 economies to regulate financial markets, in addition to adopting much more rigorous budget controls within the EU.
Ms Merkel called on financial institutions to give “honest advice” about how their activities should be regulated, warning they would face political measures to regulate the markets whatever happened.
Mr Schäuble appeared more sceptical. Challenged to defend Germany’s ban on naked short selling in light of the hostile reaction in the markets, the minister said: “If you want to drain a swamp, you don’t ask the frogs for an objective assessment.”
Additional reporting by Joshua Chaffin in Berlin and George Parker in London

US Dollar Collapse: Potential Reversal GDX, HUI, XAU, FXI, TNR.v, CZX.v, GRC.to, GBN.v, EPZ.v, ASM.v, CUU.v, CPG.v, RM.v, LMR.v, GDX, GDL, SLV

Corporate default was exchanged on sovereign one, all bailouts were not more than transferring obligations from failed banks and other Corporations to the public finance. Bonuses were left with bankers, losses were privatised with public. Now we have on outskirts of Europe with less than 4% of EU GDP fireworks which suppose to end Euro legacy in wain. Do not rush to trash the Euro yet. Sovereign default is very different from corporate one. If the debt is issued in local currency it could be always printed more in order to repay it. U.S. Corp. is living in this space for years, UK is there and Europe will have to decide and move in support of Greece to prevent the run on the bank and collapse of the following PIIGS members.

The real drama is here above, It is Long Treasuries daily chart and it looks nervous, nobody even talks here about cuts, fiscal discipline and austerity measures. Once Europe is engaged in QE and ECB starts buying sovereign bonds from banks, attention will come back home. Recent spike in prices can be very short lived in a big picture frame.

Nothing is for certain in these days, but that candle on the chart above can mean reversal and that Green Buck Party is over. Less bad in the end is still bad. Market is ready to forget the Greece and remember California. With all investment banks discounting euro and providing parity forecast, counter rally can be very sharp. Euro below 1.2 means Europe disintegration, there are means to prevent it and intervention is already in the cards.

On the weekly chart US Dollar looks tired as well and with intervention in Japan and Europe reversal can easily tip the scales - remember in the end it is game to debase all FIAT currencies.

"It was second Deflationary Test with sudden drop in liquidity this time driven by sovereign debt crisis. Call it Run On The Bank among Big Guys. Fifteen minutes made no mistake about the state of the market and economy in deflationary environment - we have seen the future and it is ugly. Deflation spiral means death of financial market by thousand cuts - financial system is insolvent and the only way to run it is to keep liquidity high enough that nobody is testing it to deliver. QE will provide flood of money, debt will be rolled over and by destroying the value of FIAT currencies Debt will be Inflated out in the end. This time it is different - it is not only our theory, but confirmed market action. This time the most important here is that Gold was at almost all time high at the moment of test, Gold was moving up against all currencies and this time in a sharp contrast to the events of 2008 it was sharply up and over 1200 on the day of Market Crash. This new round of QE (when Europe has not even started!) will be going already from this very high base in Gold value and rising Inflation in Commodity and Growth driven economies. We will not go into the debt issue today in details and will only point out that it is a notch under 13 Trillion and in dangerously close proximity to 100% of GDP of U.S.
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?"

Gold in South America: Cornerstone Reports Significant Progress on Ecuador Permits CGP.v, AUY, NEM, ABX, TNR.v, BVN, HUI, XAU, GDX, FCX, GG, MAI.to,

Macara

Related News

Cornerstone and Newmont Propose to Form a Strategic Exploration Alliance in Southern Ecuador
Primary TargetGoldLocationThe Macara concessions is approximately 75 km2 located near the Ecuador-Peru border. The Strategic Alliance area of influence encompasses approximately 2000 km2.Property InformationThe property hosts gold bearing quartz-tourmaline veins and breccias associated with an intrusive body. Recent work by Sierramin has returned assay values from channel samples up to 23.8 g/t Au over 1.0 m and 7.3 g/t Au over 1.8 m. Chip samples collected during reconnaissance prospecting returned assays of 13.0 g/t Au over 2.0 m (incl. 44.2 g/t Au over 0.5 m) and 8.3 g/t Au over 0.65 m from sulphide bearing quartz veins within shear zones cutting granites.

"Cornerstone Reports Significant Progress on Ecuador Permits

Press Release Source: Cornerstone Capital Resources Inc. On Monday May 17, 2010, 8:00 am
MOUNT PEARL, NEWFOUNDLAND--(Marketwire - May 17, 2010) - Cornerstone Capital Resources Inc. (TSX VENTURE:CGP - News; FRANKFURT:GWN - News; BERLIN:GWN - News; PINK SHEETS:CTNXF - News) reports that it has been issued a number of key permits needed to re-start exploration activities in Ecuador. During the first two weeks of May, Cornerstone received new titles under the January 2009 mining law to 13 of its mineral concessions including the 10 Shyri properties under option to Intrepid Mines Ltd. (see news release October 29, 2009).
Also issued by the Ecuador Ministry of Environment during this period were the approval of the Environmental Management Plan for the Gama property, part of the Shyri project, and a water permit for drilling at Gama. Cornerstone representatives are meeting with the regulators this week to determine any final steps required to initiate exploration work and will provide updates of further developments. While the permitting process has been a lengthy one under an array of new laws and regulations in Ecuador, the company is encouraged that it is progressing within the current legal framework and expects to have its final permissions in the near future.
About Cornerstone
Cornerstone Capital Resources Inc. is a mineral exploration company based in Mount Pearl, Newfoundland and Labrador, Canada, with a diversified portfolio of projects in Canada and Ecuador and a strong technical team that has proven its ability to identify, acquire and advance properties of merit. The company's business model is based on generating exploration projects whose subsequent development is funded primarily through joint venture partnerships.
Further information is available on Cornerstone's website: www.cornerstoneresources.com or for investor, corporate or media inquiries, please see contact information.
Cautionary Notice:
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. While Cornerstone anticipates that subsequent events may cause its views to change, it expressly disclaims any obligation to update the Forward-Looking Statements contained herein except where outcomes have varied materially from the original statements.
On Behalf of the Board,
Colin B. McKenzie, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

Gold in Africa: Sunridge Gold and Antofagasta Minerals Exploration Joint-Venture Update, Asmara Project, Eritrea SGC.v, NGQ.to, NSU.to, LUN.to,

Company is putting another project under drill in its J/V with Antofagasta. Results from Daero Paulos drilling are disappointing so far. Asmara project is the most promising asset of the company now and recent development by Nevsun Resources with commissioning of mining equipment for mine in Eritrea will bring some tail wind with the exploration news.

Sunridge Gold Corp. (SGC-TSX-V) is a junior company that has successfully defined four independently estimated 43-101 mineral deposits on the Asmara Project, Eritrea in East Africa. A positive scoping study on the large Emba Derho copper-zinc-gold deposit was completed in June 2009.The four deposits have total indicated 43-101-resources containing:
1.28 billion pounds. of copper,
2.5 billion pounds of zinc,
1.05 million ounces of gold, and
31.2 million ounces of silver Sunridge recently entered into a strategic partnership with Antofagasta Minerals S.A. whereby Antofagasta has agreed to fund US $10,000,000.in exploration work on areas of the Asmara Project and has become the Company's largest shareholder through a US $5.0 million private placement.
Management: Sunridge is managed by an experienced team with a successful track record of discovery and development of precious and base metals projects with companies such as Bema Gold and Nevsun Resources.

Sunridge Gold and Antofagasta Minerals Exploration Joint-Venture Update, Asmara Project, Eritrea

Press Release Source: Sunridge Gold Corp. On Wednesday May 12, 2010, 8:30 am EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 05/12/10) - Sunridge Gold Corp. ("Sunridge") (TSX-V:SGC - News) is pleased to announce that Sunridge and Antofagasta Minerals S.A. have commenced a new drilling program at the Adi Rassi copper-gold prospect within the Asmara Project, Eritrea, which is within the Exploration Areas and part of the joint-venture exploration funding agreement with Antofagasta Minerals announced October 2, 2009. The Adi Rassi copper/gold prospect is located about 8 kilometers southeast of the company's Debarwa high-grade copper/gold VMS deposit. The program will consist of at least four holes totaling 1,200 meters of diamond drilling.
The copper and gold mineralization at the Adi Rassi prospect is associated with quartz veins and breccia zones along a major shear zone that trends northeast and dips steeply to the west. This mineralization is mainly hosted in strongly foliated and distorted altered mafic volcanic tuff and flows. Alteration associated with copper mineralization can be seen at surface in a zone that measures about 80 meters wide along a strike length of approximately 500 meters.
From 1971 to 1974 the prospect was evaluated by the Ethio-Nippon Mining Company and a drill program of 11 diamond drill holes comprising 2,170 meters of core were completed over a 550 meters of strike length. The best results from this historic drilling were 41.3 meters of 1.77% Copper (DDH EN-7) and 33.6 meters of 1.5% copper (DDH EN-4).
Note: The above drill results are taken from the report "Adi Rassi Copper Prospect - Ore Resources Evaluation" by D.J. Toogood, December 1997, Phelps Dodge Exploration Corp. While the above historical data appears to be complete and the procedures followed appear reliable, Sunridge has not completed the work necessary to verify the reported results.
DAERO PAULOS DRILLING:
All results have recently been received from the drilling of the large Daero Paulos copper target also part of the Antofagasta joint-venture exploration funding agreement. Twelve widely spaced diamond drill holes were drilled over an area of surface alteration measuring approximately 500 meters wide and 2.5 kilometers long. The program returned only a few narrow zones of mineralization.
REGIONAL TARGET GENERATION
In addition to the above drilling programs a regional target generation program is underway covering all parts of the Exploration Areas as defined in the joint-venture exploration funding agreement with Antofagasta. Stream geochemical sampling, satellite imagery analysis and local geological mapping are the main tools being used and it is hoped that this work will result in the generation of new drill targets over the next few weeks.
ABOUT SUNRIDGE:
Sunridge is a mineral exploration and development company focused on the acquisition, exploration, discovery and development of base and precious metal projects on the Asmara Project in Eritrea and exploration properties in Madagascar.
Sunridge has approximately 76 million shares outstanding and approximately $5.5 million in cash. Sunridge trades on the TSX Venture Exchange under the symbol SGC. For additional information on the Company and its projects please view the slide show on our website at http://www.sunridgegold.com/ or call Don Halliday or Greg Davis at the numbers listed below.
NOTES:
1. A Quality Assurance/Quality Control program was part of the samplingprogram on the Daero Paulos copper prospect. This program includes chainof custody protocols as well as systematic submittals of standards,duplicates and blank samples into the flow of samples produced by thesampling.2. Samples were prepared at African Horn Testing Services (Eritrea) andanalyzed at Genalysis Laboratories (a NATA registered laboratory) inPerth, Western Australia.3. The results of the Daero Paulos copper prospect drill program have beenreviewed by Michael J. Hopley the Qualified Person for Sunridge. Mr.Hopley is also the person responsible for preparation of the technicalinformation contained in this news release and is President and ChiefExecutive Officer of Sunridge.
SUNRIDGE GOLD CORP.
Michael Hopley, President and Chief Executive Officer"

Gold in Canada: Goldstone Resources Exploration Update GRC.to, PG.to, GG, ABX, AEM, NEM, GDX, HUI, XAU,

One more property of Goldstone Resources will be under drill starting from June, and Premier Gold delivers solid results from Hardrock - with Gold at all time high stock should move with the results.

Welcome to Goldstone Resources Inc.
Goldstone Resources Inc. is a major force in gold exploration and development, combining significant historic and newly discovered resources and exploration potential in the Beardmore-Geraldton Camp in Northwestern Ontario.The company benefits from extensive existing infrastructure above and below ground including an upgraded, fully-permitted mill. Goldstone’s Brookbank and Northern Empire Mine properties both have NI 43-101 compliant resource estimates, containing a combined total of indicated and inferred resource in excess of one million ounces of gold. Overall, the ten formerly productive mines on Goldstone lands — including the Leitch Mine, at one time, Canada’s richest — produced in excess of 4 million ounces of gold, remained open at depth, and offer major untapped potential through extensions and parallel occurrences. In addition to gold resources and exploration targets on its 100% owned properties, Goldstone enjoys a 30% carried interest in The Hardrock Project, a joint venture with Premier Gold Mines Limited as operator. The recent Hard Rock Project NI 43-101 Mineral Resource highlights include:- Indicated Resources of 11.6 million tonnes at an average grade of 1.82 grams per tonne (g/t Au) (2.43 g/t Au uncut) hosting 675,000 ounces Au cut (905,000 ounces Au uncut).- Inferred Resources of 7.3 million tonnes at an average grade of 1.81 g/t Au (3.52 g/t Au uncut) hosting 425,000 ounces Au cut (830,000 ounces Au uncut).
Goldstone is currently planning an aggressive exploration and drilling program for 2010. In addition to extensive data evaluation and surface exploration across the area, Goldstone plans to carry out drilling on targets currently being identified from a review of historic records and correlation of recent drilling with analysis of the 2009 aeromagnetic survey results.

Goldstone Resources Exploration Update

Press Release Source: Goldstone Resources Inc. On Thursday May 13, 2010, 8:00 am EDT
TORONTO, ONTARIO--(Marketwire - 05/13/10) - Goldstone Resources Inc. ("Goldstone" or "the Company") (TSX:GRC - News)(PINK SHEETS:GRSZF - News) is pleased to provide an update on our exploration efforts in the Beardmore-Geraldton area of northern Ontario. Following the merger of Ontex Resources and Roxmark Mines in late 2009 to form Goldstone, a large geological and historical production database has been examined to prioritize exploration targets.
KEY LAKE, GERALDTON
The Key Lake property will be the focus of approximately 15,000m of diamond drilling, scheduled to start on June 1st. Historical drilling by Cyprus Amax and Placer Dome in the 80's and 90's has outlined a 2.5 km long band of gold mineralization that appears to have low grade open pit potential. Goldstone plans to twin some of these historical holes and systematically drill along the 2.5km strike length to explore this potential. This property is located approximately 14km west of the Hardrock Project, where Premier Gold (in joint venture with Goldstone) has announced impressive open pit and underground results.
LEITCH-SAND RIVER MINE, BEARDMORE
In the Beardmore area, compilation and prioritization of targets is ongoing. Several promising areas with limited exploration on strike from the high grade Leitch-Sand River mines will be the focus of diamond drilling later in the fall. Additional programs of ground geophysics, trenching and mapping will be conducted on targets in the area that exhibit structural and geological similarities to the historical high grade deposits.
Mike Kilbourne (P.Geo) is the Qualified Person for the information contained in this press release, and is a Qualified Person within the meaning of National Instrument 43-101.
About Goldstone
Formed by late 2009 merger of Ontex Resources and Roxmark Mines, Goldstone Resources is a well funded gold exploration and development company operating in the historically significant Geraldton-Beardmore area of Northwestern Ontario and focused on gold exploration and deposit delineation at its Brookbank, Northern Empire, Leitch-Sand River and Key Lake gold properties in the Beardmore Camp. At a 3.4 g/t gold cut-off grade, drilling has established 1.36 million tonnes grading 9.7 g/t gold containing 424,400 ounces of indicated resource and 1.09 million tonnes grading 7.9 g/t gold containing 276,600 ounces of inferred resource at Brookbank. (See National Instrument 43-101 technical report -"Technical Report on the Brookbank Gold Deposit, Beardmore - Geraldton Area, Northern Ontario, Canada" by Scott Wilson RPA Inc. dated May 4, 2009, as filed on SEDAR).
In addition, Goldstone has a 30% carried interest in the Hardrock Project in the Geraldton Camp, a joint venture with Premier Gold Limited, with Premier as operator.
Goldstone Resources Inc.
Further information is available on the Company's website at http://www.grcmines.com/ and on SEDAR under the Company's profile at http://www.sedar.com/.
Forward-Looking Statements
This news release includes certain "forward-looking statements". Such forward-looking statements involve risks and uncertainties. The results or events predicted in these forward-looking statements may differ materially from actual results or events. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise."

Gold is at All Time High 1232.80 USD/oz TNR.v, GRC.to, GBN.v, BBT.v, EPZ.v, KTN.v, CPG.v, MGN, ASM.v, GG, AUY, AEM, NEM, RGLD, ABX, GDX, SLV

We will leave the situation on how technically stock like P&G could drop 50% in fifteen minutes to be investigated by the mass media, but will confirm here one more time: it was second Deflationary Test with sudden drop in liquidity this time driven by sovereign debt crisis. Call it Run On The Bank among Big Guys. (Next Bull Lithium: Crash of the Markets, Gold and the Price of Oil for Helicopters) Fifteen minutes made no mistake about the state of the market and economy in deflationary environment - we have seen the future and it is ugly. Deflation spiral means death of financial market by thousand cuts - financial system is insolvent and the only way to run it is to keep liquidity high enough that nobody is testing it to deliver. QE will provide flood of money, debt will be rolled over and by destroying the value of FIAT currencies Debt will be Inflated out in the end. This time it is different - it is not only our theory, but confirmed market action. This time the most important here is that Gold was at almost all time high at the moment of test, Gold was moving up against all currencies and this time in a sharp contrast to the events of 2008 it was sharply up and over 1200 on the day of Market Crash. This new round of QE (when Europe has not even started!) will be going already from this very high base in Gold value and rising Inflation in Commodity and Growth driven economies. We will not go into the debt issue today in details and will only point out that it is a notch under 13 Trillion and in dangerously close proximity to 100% of GDP of U.S.
After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?
Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:
1. We are in a new Bull market territory with Gold moving up against all FIAT currencies.
2. Corporate default was exchanged on sovereign one, all bailouts were not more than transferring obligations from failed banks and other Corporations to the public finance. Bonuses were left with bankers, losses were privatised with public. Now we have on outskirts of Europe with less than 4% of EU GDP fireworks which suppose to end Euro legacy in wain. Do not rush to trash the Euro yet. Sovereign default is very different from corporate one. If the debt is issued in local currency it could be always printed more in order to repay it. U.S. Corp. is living in this space for years, UK is there and Europe will have to decide and move in support of Greece to prevent the run on the bank and collapse of the following PIIGS members.
3. Expect shakeouts, but the direction in Gold market is clear: further Up - driven by run from all FIAT currencies, rising interest rates, generational Bear market in Treasuries, negative real rates and expansion in monetary base (QE) with inevitable by definition Inflation. And we have to pray for it - we do not know how to survive in Deflation Spiral should anybody made a crucial mistake.
4. First Gold will make new all time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. markets will be volatile by all means and political tensions will be driving this Gold Bull as well.
We are running Gold Bull for nearly ten years now: Gold first, than Majors and follow up on Junior side. We were always wondering about Future of Energy and have collected some great memories on Uranium Run, Solar and Water plays. Gold Bull has years to run, but we are searching constantly for new Macro trends - it is very interesting to find out what will be the next Bull which will come out of these rubbles in case we are right and Inflation will be the answer to deflation war scenario. It is time for Lithium to come into picture.

Volta Reports Best Results to Date at Its Kiaka Gold Project - Intersects 134 Meters at 2.16 g/t Gold, Including 10.0 Meters at 7.43 g/t Gold VTR.v,

Volta Reports Best Results to Date at Its Kiaka Gold Project - Intersects 134 Meters at 2.16 g/t Gold, Including 10.0 Meters at 7.43 g/t Gold

WHOA: NYP Says Federal Agents Have Launched Civil And Criminal Probes Into JPMorgan For Silver Manipulation ASM.v, KTN.v, MGN, RVM.to, EPZ.v, SGC.v,

We have a giant Bullish Cup and handle formation in Silver now, Gold move to the new high must be confirmed by new high in Silver.

"First Gold will make new all time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. markets will be volatile by all means and political tensions will be driving this Gold Bull as well."

SAI:

"WHOA: NYP Says Federal Agents Have Launched Civil And Criminal Probes Into JPMorgan For Silver Manipulation

Joe Weisenthal May. 9, 2010, 4:43 PM 2,920 19
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The New York Post has an explosive exclusive, if true:
Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.
The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.
The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.
That JPMorgan (JPM) has somehow been involved in silver market manipulation has been the source of rumor and speculation for a long time.
Things really heated up on this front in March, when a whistleblower was due to speak in Congress about commodity market manipulation, but was scrubbed from the list at the last second. That sent of all kinds of red flags. The New York Post was on the story then too, citing an outspoken trader named Andrew Maguire who claimed that JPMorgan and HSBC were doing the Fed's work in ceaselessly selling silver (nakedly) on behalf of the Fed in order to keep prices down.
If today's report is true, it would clearly indicate that at least at the regulatory level (if not the political level, where any financial reform is bound to be toothless), there's been a major shift in attitude. Add this to the civil charges against Goldman Sachs (GS), and the Moody's (MCO) Wells notice, and you're starting to see a trend."

EU Readies Emergency Fund Said to Be $645 Billion to Fight Off `Wolfpack' ABX, TNR.v, GG, AEM, AUY, GRC.to, EPZ.v, ASM.v, MGN, KTN.v, GBN.v, MAX.to,

"Corporate default was exchanged on sovereign one, all bailouts were not more than transferring obligations from failed banks and other Corporations to the public finance. Bonuses were left with bankers, losses were privatised with public. Now we have on outskirts of Europe with less than 4% of EU GDP fireworks which suppose to end Euro legacy in wain. Do not rush to trash the Euro yet. Sovereign default is very different from corporate one. If the debt is issued in local currency it could be always printed more in order to repay it. U.S. Corp. is living in this space for years, UK is there and Europe will have to decide and move in support of Greece to prevent the run on the bank and collapse of the following PIIGS members."

Bloomberg:

EU Readies Emergency Fund Said to Be $645 Billion to Fight Off `Wolfpack'

European Union finance ministers moved toward agreement on an unprecedented loan package worth at least $645 billion to prevent Greece’s fiscal woes from triggering a broader sovereign-debt crisis and shattering confidence in the euro.

Next Bull: Lithium - Crash of the Markets, Gold and price of Oil for Helicopters TNR.v, CZX.v, GRC.to, BVA.v, BVG.v, GBN.v, RM.v, LMR.v, WLC.v, CLQ.v

Small print.

Some observations below are based on pure Science and some on solid Fiction, please be careful to draw any investment conclusions from some parts of the story. As a socially responsible citizens authors of this blog could benefit from your investment decisions regarding Ben Bernanke, Helicopters, Oil, Gold and Lithium.

CS. It is time for us to sharpen our pencil and put a few lines together about socio-economic events of this week which will have far reaching implications on our way of life. We will speculate on the real events behind the scene on a day of Cyber Meltdown: spectacular Dow Crash by the magnitude of 1000 point in fifteen minutes. We will develop a very strong argument in favour of Inflation and its cost based on PhD Thesis: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations. We will draw some lines on How Lithium, Gold and price of Oil are connected and what it means to be grounded. In the end we will leave you with the question: Where to invest - In Ben Bernanke, Ink Factory, Helicopters, Oil or Gold and Lithium?

Our memories from 2008 meltdown and the last deflation strike in March of last year are still too vivid for us to stay rational amid recent market panic of this week. Was it the fat finger, Cyber Meltdown or revenge of the Government Sachs, which was striped of its Olympus glamour is not so important - the most important message is the reaction of the Market itself and actions of the people in charge to follow.

We will even speculate that the real reason for Dow to crash 1000 points in fifteen minutes was subliminal classified message in the networks that helicopter commander Ben Bernanke have sent his helicopter squad to Europe. The squad was caught over Iceland in volcanic ash cloud and was grounded on deserted island and now all those precious billions of dollar bills are used in a camp fire to keep pilots warm. Messier Trichet from ECB has refused to send eurocopters stashed with cash and support the market operations on Thursday pointing to high oil prices and high price to be paid in the end of this kind of "open market" operations. He even went to length talking about austerity measures, economic reform, budget cuts and fiscal discipline. French connection with the Crash must be investigated further: first they took our wine lists, than mortgage based securities trading, what will be next? We will point only to the obvious: ECB head Jean-Claude Trichet the President of European Central Bank with his stubborn attitude to the Quantitative Easing. Next one will be Goldman Sachs Mr Fab himself - Fabrice Touree at the heart of the recent scandal. Have you noticed that this time Goldman Sachs were par excellence on transparency issues, it has avoided any double standards allegations and immediately released all emails of Mr Fab including his love letters and proper descriptions of all those variety of products sold to the sophisticated "widows and orphans" as they call our banks, stupid enough to buy that stuff. Buy the way they called these derivatives by a lot of misleading names for the clients in public documents, but in internal emails all use the same description and must be French word - S%&T. This twitter based letter combinations is raising the same emotions as the subject itself and we will allow ourselves to use it in this context, lacking the better alternative. This time Goldman Sachs was equally distant from its clients and employees - they were sacrificed immediately. In the end if The House does not give a S%&T about its clients, why attitude to employees should be different?

Here our part based on solid Fiction ends and we will move to pure Science.

As it is difficult to believe in the reasons behind the Thursday 1000 point Dow Crash we wrote above, we will make few observations based on real time market data. Market was trading down on Thursday from the opening with traders clued to the pictures from Greece violent Austerity Market Test, but they were sliding down in orderly fashion. At 14.00 sudden spike in Yen Dollar chart happen: Yen moved up and then all hell called Carry Trade has broken lose. Somebody big enough to get busted in a spectacular fashion was caught naked on Yen funding side. With rising Yen Rise of the Machines began: algorithmically driven buy orders start to protect from Yen run away, snow ball has driven Yen above USD by total 5% percent at one point. Please keep in mind that another Carry Trade funded in USD moved up against all other currencies as well: Euro and Pound were not spared, Hung Parliament in UK helped ignite the run on pound again. After Yen move within half an hour Dow started to crash: our take is that with running up Yen and following USD margin calls kicked in and selling began in most liquid stocks in Dow. Run away in Yen was stoped by Japanese Central Bank intervention to the magnitude of 2 trillion Yen. Dow Cyber Meltdown was protected by PPT, investors lost on filled stops much below limits and somebody big got busted for sure.

We will leave the situation on how technically stock like P&G could drop 50% in fifteen minutes to be investigated by the mass media, but will confirm here one more time: it was second Deflationary Test with sudden drop in liquidity this time driven by sovereign debt crisis. Call it Run On The Bank among Big Guys. Fifteen minutes made no mistake about the state of the market and economy in deflationary environment - we have seen the future and it is ugly. Deflation spiral means death of financial market by thousand cuts - financial system is insolvent and the only way to run it is to keep liquidity high enough that nobody is testing it to deliver. QE will provide flood of money, debt will be rolled over and by destroying the value of FIAT currencies Debt will be Inflated out in the end. This time it is different - it is not only our theory, but confirmed market action. This time the most important here is that Gold was at almost all time high at the moment of test, Gold was moving up against all currencies and this time in a sharp contrast to the events of 2008 it was sharply up and over 1200 on the day of Market Crash. This new round of QE (when Europe has not even started!) will be going already from this very high base in Gold value and rising Inflation in Commodity and Growth driven economies. We will not go into the debt issue today in details and will only point out that it is a notch under 13 Trillion and in dangerously close proximity to 100% of GDP of U.S.

After pictures from Greece we do not think that anybody will go there in U.S. Corp. Deflation will be prevented by any means, it is easy and price to pay is not so obvious. Newly printed US Dollars are "free", but price to drop them is not: you need Oil to keep you helicopters flying and here will be our first conundrum: At what point price of Oil becomes prohibitive to use Helicopters by Ben Bernanke in his open market operations?

Here is time to move to practical implications of the new Inflation round to fight Deflation Scare this time created by sovereign default. How Lithium, Gold and price of Oil are connected and what it means to be grounded? We will start with Gold and will give you few observations:

1. We are in a new Bull market territory with Gold moving up against all FIAT currencies.

2. Corporate default was exchanged on sovereign one, all bailouts were not more than transferring obligations from failed banks and other Corporations to the public finance. Bonuses were left with bankers, losses were privatised with public. Now we have on outskirts of Europe with less than 4% of EU GDP fireworks which suppose to end Euro legacy in wain. Do not rush to trash the Euro yet. Sovereign default is very different from corporate one. If the debt is issued in local currency it could be always printed more in order to repay it. U.S. Corp. is living in this space for years, UK is there and Europe will have to decide and move in support of Greece to prevent the run on the bank and collapse of the following PIIGS members.

3. Expect shakeouts, but the direction in Gold market is clear: further Up - driven by run from all FIAT currencies, rising interest rates, generational Bear market in Treasuries, negative real rates and expansion in monetary base (QE) with inevitable by definition Inflation. And we have to pray for it - we do not know how to survive in Deflation Spiral should anybody made a crucial mistake.

4. First Gold will make new all time high, second will be M&A play: Majors will shop for Juniors with resources in the ground. Here is the double game - Gold is moving up and Majors' production and Reserve Base is going down. If you like more leverage you are welcome to Silver market. Place to be is in stories will strong management, growing resources and stable political situations. markets will be volatile by all means and political tensions will be driving this Gold Bull as well.

We are running Gold Bull for nearly ten years now: Gold first, than Majors and follow up on Junior side. We were always wondering about Future of Energy and have collected some great memories on Uranium Run, Solar and Water plays. Gold Bull has years to run, but we are searching constantly for new Macro trends - it is very interesting to find out what will be the next Bull which will come out of these rubbles in case we are right and Inflation will be the answer to deflation war scenario. It is time for Lithium to come into picture.

Lithium is the leveraged play on Peak Oil and rising Oil price with coming Inflation. Sector is very small and market is even more smaller - everything is ready for the parabolic move in case of supporting fundamentals.

Recent Oil Spill shows the real price for Oil and leaves no doubt for us that there will be no more cheap oil: offshore drilling is costly now, it will be even more costly later. Relatively cheap Oil is in the hands of state owned companies in not so friendly to U.S. places. Oil squeeze will come from diminishing production rates and rising Inflation. The move will be even more explosive than in the Gold market - in the end only minority of people is effected by the gold price even now, Oil is the underlining of all Western Energy Diet. It is not sustainable. Emerging markets are taking more and more share of world wide production, oil producing countries are spending more at home. If you account all cost to produce, deliver and protect Oil supply to U.S. corp the price is already above 150 USD/barrel.

"Peak Oil and Lithium: Joint Operating Environment 2010

Please pay attention, this report is written by those who knows the Real Price of Oil. If you account all military needed to protect Oil supply lines and cost of wars to get more oil, price will be well above 150 USD/barrel already. Now we all have another problem: there is simply no more oil enough for all. Will future wars for oil be the only answer?"

Another "liberation" operation like Iraq, this time against Iran will break the camel's back with no return point. Competition for Oil is heating up and aggressive move by China into Electric Cars leaves no other options for US than to follow. In order to keep power China needs gradually improve standard of living, it will bring upside pressure on labor cost. Electrification will not only provide Energy Security to China, but will significantly reduce the cost of its transportation element and provide another opportunity to stay among low cost producers. Situation is completely different to U.S. - they have capital to invest in Electric Mobility CAPEX now and rip the rewards of lower cash cost on transportation side later. We will refer you to the Economics of Electric Cars.

Recent Ash Cloud events in Europe brought a very sobering sense of the feeling to be grounded. It is amazing how many things are taking for granted. This time it is Ash Cloud - what will happen with oil above 150?

Electric Cars is the only commercially viable technology today to sustain mobility world wide with rising Oil prices. Lithium is at the heart of Green Mobility revolution - it is an industry adopted standard for batteries and billions of dollars are invested into battery technology and upcoming by the end of this year Electric Cars on a mass market scale. This Bull market is still very young - only a year or so from the beginning after the crash of 2008.

We will provide you with few links to study the subject further:

1. Peak Oil.

2. Lithium ABCs.

3. Lithium the Next Big Thing for China Investments

4. The Future of the Lithium Market.

5. Lithium iPod moment.

6. Lithium and REE: How to invest in the Next Big Thing - Electric Cars and Green Mobility revolution.

7. God protect America and give us Electric Car - Obama on Clean energy, Batteries and Competition.

8. Lithium and REE Investment Manifesto and Next Big Thing in action: San Francisco notes.

Revenge of the Masters: Cyber Meltdown - Gold above 1200 TNR.v, GRC.to, BVG.v. BVA.v, KTN.v, EPZ.v, RVM.v, ASM.v, BTT.v, GBN.v, HUI, XAU, GDX, GG, NEM

Whether it is a revenge of Government Sachs or "just" a Quant Cyber Glitch is not so important - we have another the most important message today: Gold has officially became the New Reserve Currency of choice. With melting down market, when nobody was sure what was happening, Gold stood Long and Strong. In a sharp contrast to 2008 panic, when everything was sold for the run to safety of US Treasuries, this time Gold finally became the safe heaven.

Rise of the Machines multiplied by Greece fear have send another important message - if somebody want a strong US Dollar they should be ready for the chart above. Strong dollar is the Deadly Deflation Spiral - it is Spring 2009 all over again in a fifteen minutes of trading day. Yesterday's pictures of social unrest in Greece and today's "Fat Finger Cyber Glitch" will leave strong memories and Inflation will the most welcome outcome. Another important point - it is easy to be done and QE will be all over again.

Please note that all markets: FX, Stocks and Bonds have been contaminated with panic from Cyber Glitch in U.S. but TSX has much less dramatic move and Gold stock were strongly up by the end of the day.

Please be sure that troops are ready and money flood will be open again, it does not mean that the market will not have a correction, but it means that monetary base will be expended again even to a greater extend and this means only one: Inflation - Gold was screaming today about, Commodities, Oil and Energy Metals: Lithium and REE to follow. Trend to diversify from ALL Paper Fiat currencies into the real things started by Chinese will be accelerated.

Cyber Meltdown: Dow is down almost 1000 to 9900 in fifteen minutes. Somebody for a Strong Dollar? Deflation Spiral is back - wait for Ben and Helicopters...This time Gold is not fooled around and retakes 1200 again. Next week will be crucial for Gold: will it be a Double Top or break out to the upside?

Gold in Nevada: Bravada Begins Trading, Drilling Planned at Signal Project in June BVA.v, MAX.to, GG, NEM, ABX, AUY, TNR.v, RM.v, LMR.v, GDX, HUI, XA

Bravada Begins Trading, Drilling Planned at Signal Project in June

VANCOUVER, BRITISH COLUMBIA, May 03, 2010 (MARKETWIRE via COMTEX) -- Bravada Gold Corporation (TSX VENTURE: BVA) reports that it has received Exchange approval to commence trading on the TSX Venture Exchange on May 4, 2010 under the symbol BVA.V. Bravada was formed under a Plan of Arrangement with Bravo Gold Corp. /quotes/comstock/11v!e:bvg (CA:BVG 0.29, -0.02, -4.92%) (FRANKFURT: B6I) whereunder it issued shares to Bravo Gold Corp. in exchange for properties and cash. Bravada has issued and outstanding 25,619,218 shares with Bravo holding 11,147,688 shares (44%) and Bravo shareholders of record on December 31, 2009 holding 14,471,530 shares (56%).
President Joe Kizis commented, "Listing of the shares of Bravada is the culmination of the restructuring of Bravo Gold Corp., which will continue to develop its Homestake Ridge property in B.C. with an extensive exploration program which is fully funded and commencing in mid-June. Bravada plans to aggressively drill test several of its Nevada properties, which were previously developed to drill-ready stages at an approximate cost of $7 million. Bravada is fully funded for the proposed drilling at Signal, which will be followed by drill programs at other fully permitted properties in 2010."
Drilling is planned in early June at the Signal property. Two core holes (approximately 1,200 metres total) are planned to test the intersection of a feeder fault with favourable Devonian carbonate host rocks projected from nearby exposures. The feeder fault is related to a small, near-surface Carlin-type gold occurrence that was the subject of previous drilling by Bravo Gold Corp. Such relatively small Carlin-type occurrences can be used as a guide to unexposed and much larger Carlin deposits because they often represent leakage haloes around the larger deposits, often along the same feeder faults. The Signal property is located in the northwestern portion of the Eureka District, which includes Barrick Gold Corp's Ruby Hill mine, six kilometres to the east of Signal.
Bravada Properties
Bravada has a portfolio of 13 properties (approx.9,000 hectares, or approximately 35 square miles), one of the largest land position of any junior in the Battle Mountain-Eureka Gold trend, providing shareholders with potential for significant discoveries in this region of very large gold deposits. Drill targets have been identified and permitted at six of the projects. Other property acquisitions are being considered that could further enhance exploration success.
The largest Carlin-style gold deposits occur along two major trends in Nevada; the Carlin trend and the Battle Mountain-Eureka trend. Deep crustal features are believed to be responsible for the trends. Along these trends, deposits further cluster as districts and sub-districts. A striking characteristic of large Carlin-style gold deposits is their association with smaller gold deposits that have virtually identical alteration and geochemistry signatures. For example, relatively small gold deposits were discovered at and around the Cortez mine decades before the discovery of the much-larger Pipeline and Cortez Hills deposits. Goldstrike and Turquoise Ridge are other very large deposits that were discovered long after nearby small deposits were placed into production.
The NSR property, recently acquired from Agnico-Eagle (USA) Limited ("Agnico"), a subsidiary of Agnico-Eagle Mines Limited, consists of 161 lode mining claims (approximately 1,300 hectares) as two irregular blocks, with adjacent ground generally being either private or claims held by others. Data provided by Agnico includes soil and rock geochemistry, geophysical surveys, historic drill data, and geology and geochemistry for five reverse-circulation holes drilled by Agnico. Limited surface rock-chip sampling by Bravo's consultants confirms that anomalous gold exists up to +1g/t, with typical Carlin-style pathfinder geochemistry. Historic drilling indicates that several areas contain accumulations of strongly anomalous gold; however, historic drilling cannot be confirmed to have been conducted to NI-43-101 standards and cannot be relied upon to define any possible resource. Mineralization and alteration occur in Paleozoic-age 'Upper Plate' rocks and Eocene intrusions, but more-attractive 'Lower Plate' host-rocks have not been encountered yet at the property. In addition, most of the shallow, historic holes that were intended to test near-surface gold mineralization were drilled vertically, even though mineralization in 'Upper Plate' rocks is often predominately hosted by vertical structures, which may have been missed by those holes. Compilation of existing data, 3D geologic modeling, and additional geophysical surveys are expected to identify several attractive drill targets.
The PH property lies immediately east of US Gold's Tonkin Springs property and northeast of Miranda's Red Hills gold project. Gold mineralization is exposed in prospective Lower Plate carbonates at PH, with assays of surface grab samples ranging from background to 3.39g/t Au. Alteration and pathfinder geochemistry is typical of Carlin-style deposits. Permits have been acquired to drill test two attractive targets; one is a geophysical magnetic 'bulls-eye' high beneath post-mineral gravel and volcanic cover along the western property boundary that may be caused by a mineralized intrusion, and the other is the highly prospective Roberts Mountains formation beneath surface mineralization in less favorable carbonate rocks in the eastern portion of the property.
Currently, the Eureka Mining district hosts approximately the same number of ounces of gold in historic production, reserves, and resources as was known in the Cortez district prior to discoveries of the very large Pipeline and Cortez Hills deposits and is considered by the company to be strong evidence that one or more very large deposits may be found in the Eureka district.
The Signal and Temple properties are in the northwestern portion of the Eureka district, and both contain small non-43-101 accumulations of gold with typical Carlin-style alteration and geochemistry. Mapping at both projects shows the "feeder" faults should intersect highly favorable Devonian-age carbonate host rocks between 450m and 600m depth. Signal is permitted and bonded for drilling, and Temple has been permitting but not yet bonded.
The SF property is located east of the Eocene-age Carlin-type deposits at Cortez and east of the Miocene-age low-sulfidation epithermal-type deposit at Buckhorn. Several large Carlin deposits show evidence of overprinting by younger gold systems, an indication that their plumbing systems are deeply rooted. Both Carlin-type and low-sulfidation-type alteration are present at SF, with narrow zones of Carlin-style geochemistry intersected in a drill hole directly east of the property by a competitor. Host rocks are the highly favorable Devonian-age Wenban limestone and Horse Canyon formation. SF is permitted and bonded for drilling.
The Gabel property lies along the northern portion of the Roberts Mountains, east of Tonkin Springs and north of the US Gold's Gold Bar deposits. The region hosts significant past production and reported resources. Carlin-style alteration is widespread at the property, and mapping indicates that the highly prospective Silurian/Devonian-age Roberts Mountains formation should lie within approx.300m of surface in the western portion of the property; no drilling has tested this important host rock at Gabel. In addition, an attractive target exists in favorable Devonian host rocks. Gabel is permitted and bonded for drilling.
The Granite Mountain property consists of a small parcel of private, fee land northwest of Barrick's Pipeline mine and Coral Gold's Robertson property. Eocene-age dikes are common on the property, cutting Upper Plate sediments. Grab samples contain anomalous gold to 1.46g/t Au with typical Carlin-style pathfinders and alteration. Permits and bonds are not required to drill on private ground until disturbance exceeds five acres.
The rights to barite at the Company's Shoshone Pediment property were leased to Baker Hughes, for which the Company will receive a royalty for any barite produced from the property. However, the Company reserves the rights to gold and other metals, and will receive splits of any drill samples collected by Baker Hughes (see specifics in News Release NR-08-09). Low-level gold and encouraging pathfinder geochemistry are widespread in generally unfavorable Upper Plate rocks, and the property is on strike with a series of small gold deposits in Upper Plate rocks at US Gold's Slaven Canyon property. More prospective Lower Plate carbonates are at an unknown depth at the property.
The Company also has several 'pediment' plays, properties along trend with favorable host rocks and gold mineralization, but covered with post-mineral gravel. These include the North Lone Mountain, South Lone Mountain, South Gold Bar, 3Bar, and HO properties. North Lone Mountain is permitted and bonded for drilling.
More detailed descriptions of the Nevada properties can be found on Bravada's website www.bravadagold.com and in Bravo's News Releases NR-23-09 (dated September 22, 2009), and NR-05-10 (dated February 12, 2010).
About Bravada Gold Corporation
Bravada Gold Corporation is a member of the Manex Resource Group of Companies with an exploration office in Reno, Nevada from which it is exploring its extensive Carlin-type gold holdings strategically located within the Battle Mountain/Eureka "Cortez" gold trend in Nevada.
On behalf of the Board of Directors
Joseph A. Kizis Jr., Director, President, Bravada Gold Corporation
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts:
Bravada Gold Corporation
Jeff Stuart
1.888.456.1112 or 604.641.2771
jstuart@mnxltd.com
Bravada Gold Corporation
Liana Shahinian
1.888.456.1112 or 604.641.2771
liana@mnxltd.com
www.bravadagold.com"