Page 14 Contd on pg 15 By Gregory Reynolds Its goal of 90000100000 ounces of gold production in 2012 appears with Ltd The company which uses its stock ini 69776 ounces at the end of Sept 30 SAS is a junior gold producer with three operating mines and 120 km of exploration ground in the T immins Mining District SAS is tar geting 90000 100000 ounces of annual gold production from its Holt Hollo way and Hislop Mines in 2012 Oct 9 the SAS reported record third quarter production of 25742 ounces of gold from its three mines in the T immins Mining District Northeast ern Ontario W e are very happy to report another record quarter of production reaching a level which will enable us to sustain annual gold production of approxi mately 100000 ounces in 2013 said Jacques Perron president and CEO of SAS Our operations continue to perform well which will allow us to end the year with a strong balance sheet Our immediate and future plans remain on track and are not af fected by the re statement of the inferred resources at Holt W e have reviewed our resources esti mation processes to ensure that a sim ilar error will not occur in the future meet our 2012 guidance on produc tion and costs and that we will see positive results from our exploration success experienced so far this year W e will be releasing additional drill ing results on the Ghost Hislop North and Zone 4 tar gets estimation pro cesses to ensure that a similar error will not occur in the future Development at the T a ylor Project is sample in the fourth quarter and we look forward to providing future up dates on the advancement of this proj ect W e look ahead to the last quarter for 2012 which we believe will prove to be another successful quarter for SAS illustrating our ability to run successful operations and meet our objectives said Perron Earlier in the year SAS commenced dewatering and ramp rehabilitation activities at the T a ylor Project It also completed a US25 million se cured bank facility and retired all of the outstanding Gold Notes On Sept 20 SAS reported that it had amended versions of the 201 1 Annual Report Annual Information Form and annual Management Discussion and Analysis to correct an error in the stated amount of inferred mineral resources for the Holt and Holloway Mines The amended and restated inferred mineral resources as at the year ended Dec 31 201 1 is 1045000 tonnes at an average grade of 681 gt Au for 229000 ounces for the Holt Mine and 2755000 tonnes at an aver age grade of 510 gt Au for 452000 ounces for the Holloway Mine The inferred mineral resources at the Holt Mine were overstated by 665000 ounces 3791000 tonnes at an av erage grade of 546 gt Au The in ferred mineral resources at the Hollo way Mine were overstated by 44000 ounces 269000 tonnes at an average grade of 509 gt Au The measured and indicated mineral resources as well as the mineral re serves at Holt and Holloway as at the year ended December 31 201 1 have been reviewed in detail and there is no change to the previously reported numbers W e have restated the inferred re sources at Holt and Holloway as a result of a recently discovered tabula tion error said Perron W e have had a successful year of exploration so far focused on drill ing tar gets situated on the Holt Mine property which we believe will con end mineral resources estimation a great deal of exploration potential ue to expand the reserve and resource base as we continue to advance our exploration programs he said Exploration in 201 1 resulted in a Record gold pr oduction moves SAS closer to year s target