GOLD
PAST RECOMMENDATIONS


Acero Martin Exploration Inc. (TSX:ASD)
southern Peru´s next gold mine
the most recent follow-up: No 1/ December 11, 2007

Alamos Gold Inc. (TSX: AGI)
one of the largest gold resources in Mexico to reach commercial production
our first recommendation June 9, 2003 at $ 1.03
the most recent follow-up: No 10/February 22, 2008


Amarillo Gold Corporation (TSXV:AGC)
exploration for gold in central Brazil
the most recent follow-up: No 5/ April 4, 2008

Amerix Precious Metal Corp. (TSXV:APM)
focused on the exploration for precious metals in Brazil
new recommendation: June 25, 2007

Andina Minerals Inc. (TSXV:ADM)
gold, silver and copper in Chile
our first recommendation March/ 24, 2006 at $1.-
Follow-up: No 3/ January 26, 2007


Bravo Venture Group (TSXV:BVG)
discovery of new gold deposits in Nevada, Alaska and British Columbia
the most recent follow-up: No 4/February 27, 2007

Capital Gold (TSXV:CGC)
fast-growing gold and silver exploration in Mexico
the most recent follow-up: No 4/April 11, 2008

Colombia Goldfields (OTC BB:CGDF)
a world class gold deposit in colombia and the begin of a new era
the most recent follow-up: No 3/ May 22, 2007

Columbia Metals Corp. Ltd (TSXV:COL)
a 43-101 compliant gold resource of 514,000 ounces in Mexico
the most recent follow-up: No 1/March 25, 2008

Corex Gold Corp. (TSXV:CGE)
exploration for gold in Mexico and Argentina
new recommendation/Januar 16, 2007

European Goldfields Ltd. (TSX:EGU)
27.3 million ounces on a gold equivalent basis in Greece and Romania
the most recent follow-up: No 7/February 8, 2008

Gold Resources Corp. (OTC BB:GORO)
39.3 million ounces silver equivalent resource in Durango State, Mexico
the most recent follow-up: No 1/April 9, 2008

King Minerals NL (ASX:KMN)
an Australian junior exploring a world class gold-silver-copper porphyry project containing a minimum of 5.6 million ounces of gold equivalent
the most recent follow-up: No 5/March 7, 2008

Kirkland Lake Gold Inc. (TSX:KGI)
five major gold properties in Ontario, Canada
August 18, 2005

Klondex Mines Ltd (TSX:KDX)
high-grade Nevada gold project moving to underground
new recommendation December 7, 2007

Lateegra Gold Corp (TSXV:LRG)
exploration for gold in southeastern Ecuador and Mexico
the most recent follow-up: No 1/Januar 23, 2007

Mansfield Minerals Inc. (TSXV:MDR)
exploration for gold in Nothwestern Argentina
the most recent follow-up: No 3/February 1, 2007

Maudore Minerals Ltd (TSXV:MAO)
20 grams of gold per ton in Québec
the most recent follow-up: No 2/February 19, 2008

Metallica Resources Inc. (TSX:MR/AMEX:MRB)
gold and silver in Mexico / copper and gold in Chile
the most recent follow-up: No 8/February 20, 2007

Minefinders Corporation (TSX:MFL/AMEX:MFN)
3 million ounces of gold and 165 million ounces of silver resource in Mexico
the most recent follow-up: No 14/March 9, 2007

Minera Andes Inc. (TSXV:MAI/OTC BB:MNEAF)
Gold and silver in Argentina
the most recent follow-up: No 2/May 18, 2007

Miranda Gold Corp (TSXV:MAD)
discovery of new gold deposits in Nevada
the most recent follow-up: No 1/September 13, 2005

Northern Dynasty Minerals Ltd (TSXV:NDM/AMEX:NAK)
26.5 million ounces of gold and 16.5 million pounds of copper in Alaska
the most recent follow-up: No 2 December 12, 2006

Northgate Minerals Corp. (TSX:NGX)
one of the most efficient open pit mines in the word.
the most recent follow-up: No 9/August 31, 2007

Paramount Gold Mining Corp. (OTC BB:PGDP)
Gold and Silver in Mexico/Copper and Gold in Chile
new recommendation/February 23, 2007

Petaquilla Minerals Ltd. (TSX:PTQ)
Gold, Silver, Copper and Molybdenum in Panama
the most recent follow-up: No 1/January 25, 2008

PMI Ventures Ltd. (TSXV:PMV)
in the middle of the one of the world´s most productive gold mining areas
the most recent follow-up: No 8/April 15, 2008

Romarco Minerals Inc. (TSXV:R)
exploration for gold and silver in Mexico and Nevada
new recommendation: No 1/August 22, 2006

Romios Gold Resources Inc. (TSXV:RG)
successful exploration in Britisch Columbia, Nevada and Ontario
new recommendation: December 18, 2007

Rubicon Minerals Corporation (TSXV:RFMX)
the prolific Red Lake Gold Camp in Ontario
the most recent follow-up: No 2/March 6, 2007

San Anton Resource Corp (TSX:SNN)
10 million ounces gold equivalent resource in Guanajuato State, Mexico
new recommendation/February 29, 2008

UC Resources Ltd (TSXV:UC)
projects located within the mexican silver belt
the most recent follow-up: No 4/January 30, 2007

Unigold Gold % Copper Expl.(TSXV:UGD)
exploration for gold and copper in the Dominican Republic
new recommendation/December 4, 2007

West Timmins Mining Inc.(TSX:WTM)
Largest land holder in West Timmins and exploration in the Sierra Madre, Mexico
most recent follow-up: No 3/ September 11, 2007

Aurelian Resources Inc. (TSXV:ARU)
Exploration for gold in southeastern Ecuador

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RECOMMENDATIONS ZIHLMANN INVESTMENT MANAGEMENT AG