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Presidents Message
My Fellow Shareholders:
To say "2008 was a challenging year" would be an understatement. Our geological success during the 2008 field season ran head long into the market meltdown in the fall of 2008. Virtually every junior resource stock got crushed and Roxgold was no exception. Advancing the project during these challenging times is the priority of management.
The 2008 exploration season was geologically successful as the TJ Ridge project progressed further through the exploration process as we gained additional understanding of the structures, rock units, mineralization and their relationships to each other. The results generated added further support to the carbonate-base metal gold system geological model which in turn helps to guide our exploration programs as we search for an economic deposit.
All pertinent historical soil geochemistry was compiled into a single digital database in the fall of 2008 to augment the new information gathered during the field season. A detailed interpretation of structural controls based upon this compilation was subsequently carried out resulting in the recognition of an additional structure of importance. These structures, designated the "030 degree" structures, appear to be of much more significance than originally thought as it appears that the intersection of the 340 and 030 structures may be the prime targets for the next phase of exploration. A much more extensive fracturing of the rocks will occur at the convergence of the 340 and 030 structures allowing much greater access for the mineralizing fluids over a greater area therefore increasing the probability of widespread mineralization.
The integration of the data on the structural controls, the drill results, the geological mapping, the data gathered from the geophysical surveys and the compiled soil geochemistry was interpreted using the geological model and have helped us refine our future priority targets. Within the larger area of geological interest, an area 4.5 kilometres by 2.6 kilometres, there are a multitude of targets that require trenching to expose the bedrock in an effort to further advance the geological model and explain the soil geochemical anomalies.
The aboriginal conflict instigated by a single individual of the Gitxsan appears to be largely resolved through the internal actions of the Gitxsan community. The majority of the Gitxsan we have spoken with are largely supportive of responsible mineral exploration that provides opportunity for the native community especially for their young people.
2009 will present a challenging environment for every junior resource company but Roxgold management is determined to push forward in exploring the excellent upside potential of the TJ Ridge project. The colour brochure enclosed with these annual meeting materials summarizes the project. Please take the time to review this information as it starts to convey the largely untapped potential of the TJ Ridge Project.
All of us at Roxgold are determined to make Roxgold a successful exploration company and I thank everyone for their support and patience as we undertake this task which has been made more difficult by the current market and economic conditions.