Dear Shareholders and Friends,

In a recent interview with Streetwise Reports, Tocqueville Asset Managements Senior Research Analyst for the Gold Fund, Doug Groh, commented on Kiska Metals Corp. "Were seeing gold actually rise in all currencies. That seems to be a reflection of the concern and distrust for central bank authorities, political authorities and whats going in the world that were living in," says Doug in this exclusive interview with The Gold Report. The fund is almost 10% bullion, which Groh says dampens the volatility of the funds other holdings. He holds gold and thinks you should, too.

Doug Groh has 25 years investment experience. Before joining Tocqueville in 2003, he was Director of Investment Research at Grove Capital from 2001-2003. Between 1992-2001, as a senior sell-side analyst for JP Morgan and Merrill Lynch, he was recognized as a ranked analyst by Institutional Investor Magazine and The Wall Street Journal for his coverage of basic material stocks in the non-ferrous metals, chemicals and paper and packaging industries. He began his career as a mining analyst and worked as a precious metals portfolio manager at U.S. Global Investors and American Express Financial Advisors in the 1980s and early 1990s. He holds an MA in Energy & Mineral Resources from the University of Texas at Austin and a BS in Geology/Geophysics from the University of Wisconsin-Madison.

We thought youd be interested in reading Doug Grohs comments on Kiska Metals Corp. Scroll Down to see these comments.

Regards,

Jason Weber
President & CEO

Doug Grohs Comments:
"I think thats where you want to go to find some exciting value opportunities. If you look at the life cycle of a mining stock from exploration to development to production, the greatest value generation is during exploration. Certainly, theres value created during development as a company goes through the process of permitting and financing and building a mine. A company like Kiska, which is also operating in Alaska, is really at the front of the curve here in terms of exploring and identifying a significant deposit. For a small company to find a deposit, the value-add can be tremendous.

Kiskas Whistler project has a lot of upside. It has a huge land position that really has not been fully explored. Theres a lot of opportunity to make a sizeable discovery there. The reports theyre coming out with so far are really quite encouraging, and were going into the drilling season as we get into the summer months. A company like Kiska, which is somewhat limited in terms of its ability to operate throughout the year because of weather conditions, is going to benefit the most during the spring and summer drilling seasons and into the fall as they go out and do the things they do best-exploring and identifying deposits. Whistler is a very exciting deposit; Rio Tinto is involved in that, too. When you see a major company like a Rio Tinto involved in a project, it should give you an indication that theres something very significant because large companies arent usually paying attention at this stage of an exploration program unless they think theres something of significance."

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