VOLCANO MINE CASH FLOW PROJECTIONS

    MONTH                          1   :      2   :      3   :      4   :     5   :

    INCOME FROM SALES
    TONS/TRUCK                      23 :       23 :       23 :       23 :      23 :
    OPERATING DAYS/MO               30 :       30 :       30 :       30 :      30 :
    TRUCK LOADS/DAY                  6 :        7 :        8 :        9 :      10 :
    ORE SHIPPED, TONS/MO          4140 :     4830 :     5520 :     6210 :    6900 :
    SILVER YIELD, OZ/TON             8 :        8 :        8 :        8 :       8 :
    SILVER YIELD, OZ/MO          33120 :    38640 :    44160 :    49680 :   55200 :
    SILVER CURRENT $/OZ           5.30 :     5.30 :     5.30 :     5.30 :    5.30 :
    SILVER REVENUE $/MO         175536 :   204792 :   234048 :   263304 :  292560 :
    GOLD YIELD OZ/TON              .10 :      .10 :      .10 :      .10 :     .10 :
    GOLD YIELD OZ/MO               414 :      483 :      552 :      621 :     690 :
    GOLD CURRENT $/OZ              290 :      290 :      290 :      290 :     290 :
    GOLD REVENUE $/OZ           120060 :   140070 :   160080 :   180090 :  200100 :
    INCOME FROM SALES           295596 :   344862 :   394128 :   443394 :  492660 :

    OPERATING EXPENSES
    SHIPPING EXPENSE $/TON           8 :        8 :        8 :        8 :       8 :
    SHIPPING EXPENSE $/MO        33120 :    38640 :    44160 :    49680 :   55200 :
    MINING EXPENSE $/TON             9 :        9 :        9 :        9 :       9 :
    MINING EXPENSE $/MO          37260 :    43470 :    49680 :    55890 :   62100 :
    SMELTER CHARGE 15%           44340 :    51730 :    59120 :    66509 :   73899 :
    OPERATING EXPENSES $/MO     114720 :   133840 :   152960 :   105570 :  117300 :
    GROSS PROFIT TO CORP $/MO   180876 :   211022 :   241168 :   337824 :  375360 :

SAMPLING AND ASSAYING OF SILVER INDICATES EXCESS OF 8 OZ PER TON PER 1000 TONS
SAMPLING AND ASSAYING OF GOLD INDICATES EXCESS OF .10 OZ PER TON PER 1000 TONS

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