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On the advice of a friend in early 2010, I took a crazy leap and placed a small bet on Crazy Horse Resources through a private placement. It was such a flyer and the stock was so tightly held, and trad- ed in such low volumes, that I didn't feel right recommending it to subscribers of this newsletter, especially with the stock trading around a dollar a share. Fast forward a little more than a year, and the opportunity is considerably more accessible and attractive. The outstanding shares have increased to 49 million from 11 million and the company has added a second and much more advanced copper-gold project in the Philippines. Initially, Crazy Horse held only an option for the Kayapa Project, which encompasses 8,545 hectares in a mining district in north-central Luzon. Significantly, Kayapa has demonstrated its potential to host a viable copper oxide deposit. Historical drill logs show an oxide cap extending to a depth of up to 60 meters. The copper oxide measures at least 1,500 meters by 400 meters and remains open. The company has completed due diligence on the technical aspects of the property, but continues to await official confirmation of the good standing of the exploration permits. The option to acquire the project will remain in force until June 30, 2011, unless extended.

Enough of that background. Subsequently, Crazy Horse acquired the real company builder: Taysan, an 11,200- hectare project similar to other profitable copper-gold porphyry deposits in the Philippines. The project area has been explored and drilled by major mining companies since 1968, with 195 holes drilled up to 2009. Of those, 144 holes, or 36,000 meters, were drilled at or near the Taysan deposit.

A non-compliant resource from 1995 placed the resource at 391 million tonnes at 0.30% copper and 0.21g/t gold. However, back-of-the-envelope calculations indicate that, at around $3.00 copper and $1,000 gold, that resource expands to over 700 million tonnes, or about 3.8 billion pounds of copper and 2.7 million ounces of gold.

Those same internal calcula tions project an NPV, at a 10% discount, of around $989 million. That's for a mine producing more than three billion pounds of copper and nearly 1.5 million ounces of gold over 25 years. Capital costs would be approximately $914 million, with payback in three years.

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About Crazy Horse Resources

Crazy Horse Resources is a Vancouver based mineral exploration company, that is focused on developing the Taysan Copper-Gold Porphyry Project, in Batangas Province, Philippines. The Taysan Project is an advanced copper-gold porphyry deposit.

For further information on Crazy Horse Resources, please visit www.crazyhorseresources.com

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