Letter to Shareholders

It is my pleasure to announce the results of the annual shareholder's meeting, April 19, 1983. Three new directors were elected to the board, complimenting myself (elected 1977) and Brian Van Camp (elected 198).

Officers for the coming year are:

President Michael Meister Miller

Vice President "Hank" Guerin

Secretary Brian Van Camp

Treasurer Jack Stansfield

In addition to the above, Paul J. Criswell, a talented electrician was elected as a director.

Our board has the background, experience and interest to settle any internal or external problems of developing the company and to encourage the production of gold from our holdings. I will jeep you informed of our progress via newsletters during the year.

Representatives of the lessee attended the meeting. We learned for the first time that the lessee corporation has been or is being acquired by Lucky Chance Mining Corporation. Lucky Chance is emerging from reorganization under the protection of U.S. Bankruptcy laws. We have extended our cooperation to them towards serious mineral exploration. And we have insisted that the performance clauses in the lease be met in a miner-like fashion.

Jenning Smith's compilation of this year's proxies is:

Hart Connor-Sapp 44,443

Van Camp 583

Miller 82,564

Others 9,629

I cast my proxies for Miller, Van Camp, Stansfield and Guerin. Mr. Connor divided his proxies for Criswell and Mr. Sapp. Mr. Guerin, a recently retired civil engineer, received the bulk of the shares present at the meeting. Director Jack Stansfield is a CPA located in Sacramento.

Sincerely yours,

Michael M. Miller

President