Calpine releases results of Eskay stepout drilling

Calpine owns 50% and is operator while Stikine Resources (VSE) holds the remaining interest. The partners have three rigs at work completing 160-ft step-outs within the area of the 21 zone. After this portion of the drill program is completed, a drill-inferred reserve will be calculated for the 21 zone deposit. Results from the current drill program are: ft ft oz/t oz/t % % % 141 154.1-193.5 39.4 0.42 22.7 2.47 16.83 1.57 150 98.4-105.0 6.6 0.06 2.72 1.82 18.40 0.26 413.3-593.7 180.4 0.05 2.38 0.63 1.03 0.07 721.6-741.3 19.7 0.09 3.05 0.23 0.38 — 152 344.4-351.0 6.6 0.06 4.05 0.31 0.71 0.04 154 341.1-360.8 19.7 1.50 29.76 3.98 10.59 0.62 383.7-403.4 19.7 0.06 8.88 1.40 2.53 0.11 155 331.3-344.4 13.1 4.76 117.68 6.74 13.61 1.73 482.2-515.0 32.8 0.03 0.68 1.25 1.96 — 156 377.2-406.7 29.5 1.67 69.52 0.97 3.30 0.54 157 45.9-255.8 209.9 0.11 7.26 0.17 0.45 0.06 incl. 49.2-65.4 16.4 0.2 70.00 0.98 2.81 0.37 and 124.6-150.9 26.3 0.17 2.51 0.16 0.46 — and 219.8-249.3 29.5 0.23 5.61 0.18 0.30 — 419.8-439.5 19.7 0.16 1.08 — 0.08 — 158 167.3-190.3 23.0 0.02 21.16 0.16 0.36 0.10 203.4-232.9 29.5 0.23 16.99 0.43 0.88 0.09 429.7-439.5 9.8 0.10 0.29 0.06 0.15 — 159 357.5-390.3 32.8 4.15 133.8 (pending) 160 374.0-397.0 23.0 0.22 0.94 (pending) 423.1-449.4 26.3 0.24 7.60 (pending) 163 383.8-393.6 9.8 0.13 0.75 0.89 0.95 0.10 478.9-757.7 278.8 0.11 3.39 0.52 0.92 0.05

Hole 151 did not reach its target. Assays were also released for three holes drilled on outside targets in the vicinity of the 22 zone trenches some 2,460 ft to the south of the 21 Zone.

Hole 22-03 returned 3.3 ft of 0.064 oz gold and 0.23 oz silver; 9.8 ft of 1 oz gold and 0.07 oz silver; and 3.3 ft of 0.06 oz gold and 0.64 oz silver. The two remaining holes returned no significant results.

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