Welcome to Aurizon Mines Third Quarter Earnings Conference Call. At this time, all participants are in the listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions). As a reminder, this conference is being recorded. It is now my pleasure to introduce your host David Hall, Chief Executive Officer for Aurizon Mines. Mr. Hall, you may begin.

Thank you very much operator and good morning to everyone listening out there and welcome to Aurizon's third quarter conference call. Speaking to you from our Vancouver Office and with me today I have Ian Walton, our CFO; Chris McLean, our controller; Martin Bergeron, VP Operations; Roger Walsh, VP, Corporate Development, Julie Kemp, our Corporate Secretary; and on the lines from our outdoor officer we have Martin Demers, Manager of Exploration. The results were issued last night and the full MD&A is now on our website as is the slide presentation that we will be going through in this webcast but before we get into the presentation, I will ask Julie to read the cautionary forward-looking statement language. Julie?

Some of the information that will be discussed on this call may be forward-looking in nature including information regarding the company’s strategic plans, anticipated production, and other estimates and forecasts related to the company’s future operations. All such information expresses that the date of this presentation the company’s plans, expectations and beliefs and is based on the assumption that the company believes are reasonable. However, by its very nature forward-looking information is subject to risk and uncertainties and on that basis there can be no assurance of such information will prove to be accurate or that expectations will be achieved and except as required under Securities legislation, the company does not intend and does not assume any obligation to update these forward looking statements. For a description of the assumptions on which forward looking information discussed on this call is based and the applicable risks and uncertainties related to that information, we direct you to the management's discussion and analysis for the period under discussion and to our most recent annual information form both of which are available on SEDAR and on the company’s website. Please refer to the forward-looking statements, cautionary statements to US investors regarding mineral resources, and notes to investors included in the slide presentation for this conference call and webcast, which presentation is also available on the company's website

Thank you, Julie. I will now go through a brief presentation and I will start with the highlights for the third quarter. First of all, I am pleased to say that we made the final delivery into our gold call option position at the end of September. So, going forward, every ounce that we produce will benefit from what we obviously a strong price in gold this morning and a price we think that will be sustainable going into the future. Gold production for the quarter was 29,905 ounces. That enabled us to generate cash wealth from operations of $7.1 million. We had earnings of $2.4 million or $0.02 per share. We ended the quarter in a strong financial position of cash and working capital of $131 million, no debt. During the quarter, we initiated additional metallurgical test work at the Joanna project with a target of competing the feasibility study there at mid 2011. We had very successful exploration results at Casa Berardi particularly in the area of zone I 23, where it looks as though we have got high grade core for that zone. We started work on several of our new properties notably Foyolle, where we had some interesting exploration results confirming our geological model. During the quarter, we added to our exploration portfolio by auctioning two properties and what we believe will be an exciting and emerging James Bay gold camp in Quebec. Moving onto the next slide, we talk about the production for Casa Berardi and it was a challenging quarter operationally. Here this is a transition year for us where we have to go through lower grade area of the mine setting ourselves up for much better years going forward. Given the third quarter that we were in a low grade sequence, that problem…

(Operator instructions) Our first question comes from the line of [Graham Marton] with Desjardins Securities.

Just wondering what we are looking forward in terms of exploration expense in this quarter?

In terms of exploration expense, a fewer exploration activities about $6.7 million and another $2 million that will expanse related to the work that we are doing on the Joanna feasibility study.

Our next question comes from the line of Charles Gibson with Edison Securities.

I have two questions really. One is our matrix that the second quarter results seem to been least stated and I just wanted if you could give us a little bit background to that, that’s the first question. The second question is, with $131 million in cash, the potential for lots of posted cash plan incoming in. I wonder what your most recent thoughts dividends as well?

Actually your first question, Charles I do not believe the second quarter results were restated again just confirming that. In terms of dividends obviously going forward something that we continue to review and discuss around the board level. As you can see we are making a fairly significant investment at Casa Berardi of around $30 million over the net two years. We haven’t made a prime decision on dividend at this point, but it is still something that we are actively considering.

(Operator instructions) Our next question comes from the like of (inaudible) with Dundee Securities.

I had about two questions as well. Just want to check what the grades would be in Q4, as it been improving so far?

I’ll let Martin to answer that.

As plan in Q4 grades are going to improve. The figures we have right now is 7.1, 7.2 grams pre tonnes for Q4.

The next question would be on sustaining capital. Are we expecting something similar to 2010 for 2011 in sustaining capital other than shaft sinking?

Because of some of the issues we have with our mobile equipment fleet particularly during the third quarter, we are seriously considering every new part of the equipment for 2011 in moving forward. You can assume that.

Our next question comes from the line of Alex (inaudible) with BMO Capital Markets.

I just have a question regarding some of the actions you have been taking to resolve the fleet issues there in the third quarter. Now do you still accept that will see?

Sometime that we move the equipment from the fleet for a significant period of time so that would not be recurrent. Availability has improved in September and in October and we don’t expect to have the similar problems we experienced during the past three months moving on with the fourth quarter. That said, I want to reemphasize the fact that some of our equipment goes back to almost mid-80s and although that all been refurbished they’re coming close to the hands of their efficient live. That’s why we are looking at it from point of view of the long-term operation at Casa Berardi and when needs to be done to make sure that we are as efficient as possible. We have also moved into an audit of our maintenance practices done by ABB over the past couple of months. They have very interesting recommendation that we will implement in the short to mid-term to make up even more efficient that we were off until now.

Our next question comes from the line of David Gunter of Private Investor.

Hi, David, as you know I’m not a private investigator. Anyway quickly, I just want to say it really sounds good. All the activity of North it’s truly great to the company and for us and I’m really happy about that. I wanted to ask you though about Joanna, if there a PEA or freight fees that shows the returns on that one, if it’s posted or if we could see it or what?

Yes. There was a Pre-Feasibility Study that completed at approximately a year ago that’s posted on CEDAR on our website.

It is, okay.

Yes.

Great, I will take a look. Thank you.

(Operator instructions) There are no further questions at this time. I would like to turn the floor back over to management for closing comments.

Thank you operator and thank you everyone for listening in this morning to our conference call. I do want to point out what error I made that Ian brought to my attention in the presentation. When I was talking about the production for next year of 165,000 to 170,000 ounces, I ain’t inadvertently mentioned cash of $535 an ounce. That is the cash cost for this year that we are now projecting for 2010, moving forward into 2011 with the higher-grade materials of around $850 US amount. I apologize for that. Other than that, thank you again for your interest and your attention and we look forward to speaking to you on our next conference call. Thank you and good morning.

This concludes teleconference. You may disconnect your lines at this time. Thank you for your participation.