Dear Members, Every junior miner strives to become a producer, or to be bought out. Both of these paths take a lot of financing and dilution before the end goal. It takes much more than just some drill holes to succeed. The hard truth is, mining exploration and development is a negative cash flow business. Juniors need to continually raise money for the many processes involved in bringing a mine to life. They need to drill enough holes to gain enough interest from the majors for a buyout. This ultimately leads to further dilution. Many will fail. But what if there is a junior that is cash flow positive before production? What if there was a company with revenues nearing $16 million in their previous year? What if there was a company with an 80% interest in a property with over $12 million in expenditures in the last two years, a 43-101 resource, a historical "reserve" sitting between two of the world's largest silver mines, and expecting production in Q1 of 2011? What if they were fully permitted and fully funded to begin production? Is there such a company? There is. And it's our first silver featured company for 2010: United Mining Group (CNSX: UMG) First off, United Mining Group (CNSX: UMG) currently trades on the CNSX (The Canadian National Stock Exchange) which means you are more than likely going to have to call your broker or online discount broker to get more information. Don't take the CNSX lightly. Many companies, including the likes of Evolving Gold, also started on the CNSX. Just three years ago, Evolving Gold was trading with a market cap of $3 million. It now trades on the TSX Venture with a market cap of over $110 million. Most of the Canadian (and many US) institutions can trade CNSX listed securities. Take a look at the list here: Click Here for List United Mining Group (CNSX: UMG) has one heck of a story to tell. The Battle for Land  Silver has been a very heated topic for us. And if you have been following the major silver headlines, you must have heard about the recent fight over one of the world's richest, past-producing silver properties: The Sunshine Mine The Sunshine Mine is located in northern Idaho's historic Coeur d'Alene district, famously dubbed," The Silver Valley." click for bigger size And with good reason... The Silver Valley is the world's 2nd largest silver district, producing over one billion ounces of silver. Since its discovery in 1884, the Sunshine Silver Mine alone produced over 328 million ounces of silver grading 23 opt (ounces per tonne). To date, it is believed to still have resources in excess of over 260 million ounces left for mining. Last month, the heated battle for the Sunshine Mine was finally won by Silver Opportunity Partners, a company backed by multi-billionaire Thomas Kaplan. Thomas Kaplan has deep pockets. Very deep. He is also known to be extremely aggressive when he sees a resource investment opportunity he likes. Having a guy like Thomas Kaplan take over the Sunshine mine is great news for the Silver Valley. He can trigger some much needed life into one of the world`s most promising silver properties - and those directly around it. Although the Sunshine mine remains one of the key components of this district, it still has many issues. Despite having 260 million plus ounces left to be mined, much of the Sunshine Mine`s silver may never be recovered because of the mess the previous owners left when they mined it. Like gold mines, if you start producing without understanding the resource, you can significantly ruin your mineable ore - the same goes for silver mines. The Sunshine mine also has a NSR issue (up to 7%) with the EPA (United States Environmental Protection Agency) which may put a serious damper on the profitability of the mine. With that being said, there must be obvious reasons why multi-billionaire Thomas Kaplan made the move to outbid everyone for the Sunshine. Here's where it gets interesting. Right next door to the Sunshine, lies United Mining Group`s (CNSX: UMG) Crescent Mine. The Crescent Mine is located immediately between, and along strike, of both the Sunshine and Bunker Hill mines. The Sunshine and Bunker Hill mines have produced nearly half of the Silver Valley`s historical production of One Billion Ounces! click for bigger size The Crescent Mine is also a past producer, producing 25 million ounces of silver at 27 opt. It already hosts resources of approximately 10.2 million ounces of silver at around 19 opt. But it also hosts a historical reserve calculation of 9,397,050 ounces of silver. By today`s measures, it has the highest grade ore in the Silver Valley. Yet it remains mostly untouched. With over 5000' vertical feet of historic stoping and more than 6000' of prospective strike length along 12 separate veins between two world class mines, the Crescent has excellent potential to produce for many times the 5-10 year mine life based on the existing resource. More than $12 million has been spent on the Crescent Mine in the last two years on surface/underground drilling and mine rehabilitation. Much of this work was actually conducted by United Mining Group (CNSX: UMG), so you can bet they understand this property better than anyone else. To reap the benefits of the Crescent, United Mining Group (CNSX: UMG) only had to give up $220,000, some shares of its stock, and spend $9 million over 3 years to earn and keep their 80% interest in this property (see NI 43-101 for more details). Did we mention that the Crescent Mine project is already fully permitted and financed for phase 1 production in Q4 2010 - Q1 2011? That's right, United Mining Group (CNSX: UMG) already has the permits in place and the money they need to bring the mine into production. When you consider the issues of the Sunshine Mine, it would make sense for Thomas Kaplan to also own the Crescent Mine. The Crescent Mine is not only easier to mine, but should be much faster and cheaper to bring back into production. We're not sure exactly what Mr. Kaplan's intentions are, but with just over $55 million shares outstanding and a market cap of just over $36 million, United Mining Group (CNSX: UMG) would be an easy target for Kaplan if he wanted to take control. But there's a lot more juice to this story. Aside from their interest in the Crescent Mine and the fact that they are already permitted and funded to go into production with the next year, United Mining Group (CNSX: UMG) also owns and operates a mine services company. They Make Money! In 2009 alone, United Mining Group (CNSX: UMG) made close to $16 million in revenue and was profitable! Their compound annual growth in revenue was 77% from 2007 to the end of 2009. Seriously, there aren't many juniors out there that can say that. Heck, there aren't many companies with $200 million plus market caps that can say that. Furthermore, their projected revenue for 2011 is expected to grow to $30M in 2011, as the Crescent Mine is brought into production. This means that at current prices, United Mining Group (CNSX:UMG) will have an annual revenue nearing their own current market cap. That is almost unheard of in the mining world - or any sectors for that matter. When you consider the comparables, the differences are shocking. The Lowest Market Cap? Many comparable companies with the same production, resource, and revenue profiles have market cap values in excess of $150 - $200 million plus. United Mining Group (CNSX: UMG) is nowhere near those numbers. Its much, much lower. Let's take a look at Alexco Resource Corp* (TSX: AXR), for example. Alexco Resource, like UMG, has an environmental and mine services company that produces revenue, in addition to their silver exploration and mining division with a high grade silver property. So it makes sense to use them as a comparable. The Comparables Alexco currently has a market cap in excess of $185 million. United Mining Group (CNSX: UMG) has a market cap of $36 millon. Alexco expects to have revenues of $20 million in the next 5 years with their environmental services division. United Mining Group (CNSX: UMG) already had revenues of well over $15 million last year. Alexco has just over 13 million ounces of silver in their resource calculations, with historical reserves of less than 6 million ounces on their flagship property. United Mining Group (CNSX: UMG) has just over 10 million ounces of resources and historical reserves of over 9 million ounces on their flagship property. Both are targeting a 100 million ounce silver deposit. As you can see, when compared to many of the other silver juniors in the market, United Mining Group (CNSX: UMG) has a market value substantially less than its peers. If you know of any other companies with a market cap similar to United Mining Group (CNSX: UMG), with a similar world class property, and making in excess of $15 million before production, and fully permitted and funded to go into production within a year, let us know - because we haven't found it. From drill shot potential plays capable of multi baggers to world-renowned management teams, our featured companies all have their unique situation worthy of our portfolio. This time, we're giving you United Mining Group (CNSX: UMG) from the beginning - truly from the beginning. They officially begin trading this coming Monday. United Mining Group (CNSX: UMG): Try and find a similar story. Until next week, Questions? Call Us Toll Free: 1-888-EQUEDIA (378-3342) *Alexco Resource facts and figures are based on their March 1, 2010 Coporate Power Point presentation and information derived from their website. Why United Mining Group? (CNSX: UMG) Unique business model Mining and Environmental Services businesses 2009 Revenues $15.6 million, $3 million Operating Income Crescent Mine, Primary Silver Mine Primary silver mine gives investors direct exposure to price of silver Fully permitted and & financed for phase 1 production Q4 2010 Positioned for Robust Growth Planned production 1st year .8 million oz Ag, growing to +3 million oz annually within 3 years Exploration Upside - Significant potential Crescent past Ag producer & straddled by two +100million oz Ag producers Sunshine Mine 328 million oz Ag & Bunker Hill 168 million oz Ag Silver Valley Historically 2nd largest Ag district with +1 billion oz Ag past production Ultimate target: a new 100 million oz Ag deposit Capital Structure, Strong Cash Position 55 million shares issued $6.5 million cash at May 1, 2010 Comparable Production and Resource Profiles Market Caps: $150 million to +$200 million United Mining Market Cap: $36 million Strong Management Team and Board Greg Stewart   President, CEO & Director 20+ years of experience in all aspects of mine services for wide range of government and mining clients.  Founder of United Mine Services. Erik Panke, CFO & Director 20+ years of experience on engineering and construction projects. Ex-manager of Washington Group Intl., a multi-billion dollar engineering, construction, contract mining and program management firm. Lawrence (Larry) A. Dick, P.Geo., PhD, Director 35+ year professional geologist, credited with four significant discoveries including Collahuasi, Chile (second largest copper mine in the world) and Golden Bear, B.C. Herrick Lau, MA, CFA, Director Vice President, Corporate Finance of Baron Global Financial Canada Ltd., experienced investment banking professional with over 14 years of experience in investment research and corporate finance. Wade N. Black,  Director COO of Scarsdale Equities LLC, a New York City investment banking and brokerage firm with 15+ years of experience managing operations for broker-dealers and investment advisory firms. Director of US Silver Corp, a TSX-V listed company with operations in northern Idaho. Strong Balance Sheet Mining Services provides established platform for growth Compound annual growth in revenue of 77% from 2007 to the end of 2009 Improving operating margins, leaving 2009 at 19% Support for ramp-up of Crescent Silver Mine Revenue growth to $30M in 2011 as the Crescent Mine is brought into production Financial Summary & Forecast Resources and Upside for Crescent Mine Indicated and Inferred resources SRK independent resource calculation in 2009 Based on recent SNS drilling Resources identified on Alhambra Fault & South Vein Upside Potential Less than 5% of target zones have been significantly explored or mined Resources open down-dip on both veins Potential to add to resource with continued exploration Stratigraphic model indicates potential along strike Same size/grade potential as the adjacent Bunker Hill and Sunshine Mines Technical Advantages Discoveries above the existing haulage level and well above water level   Most favorable geological conditions to yield ore discoveries in the Coeur d' Alene district Crescent Mine Exploration Activities Diamond Drilling Program (2007 and 2008) - Alhambra Fault and South Vein 70 surface holes 30 underground holes Total: 103,215 feet (31,460 m) Alhambra Fault Encountered favorable stratigraphy  on hanging wall of Alhambra Fault in upper country Mineralization identified from surface to 2,000 ft South Vein Identified as extending up to 1,500 feet above the Hooper Level and 3,000 feet west of the Crescent Shaft St. Regis formation  Strata found to extend upward to the surface Exploration Potential Encouraging alteration and veins extend over the entire length and width above Hooper Tunnel Intermediate veins are tentatively interpreted as possessing greater strike and dip dimensions than previously thought  Significant exploration potential further to the west and at depth        Crescent Mine - Mining and Processing Mining: Silver Production Year 1 = 635,000 oz @ $18.67 /oz Year 2 = 2,500,000 oz @ $8.07 /oz Year 3 = 3,000,000 oz @ $7.46 /oz Near Term Production 3rd quarter @ 225 t/d 6th quarter @ 400 t/d 8th quarter @ 500 t/d Cutoff grade: 8.75 opt Ag Production: Custom mill ore Three processing facilities in Silver ValleyCoeur Mill at Coeur Mine (US Silver), probably lease and self operate New Jersey Mining Company Mill, purchase mill capacity Sunshine Mill All facilities within easy hauling distance Crescent Mine Mineralization Mining is characterized by steep, persistent 3 -10' veins Silver-bearing veins strike predominantly east-west and dip steeply to the south "Silver Belt" veins are composed of siderite, quartz, and various sulfides including pyrite, tetrahedrite, chalcopyrite, and galena Most of the silver is found within the tetrahedrite, which generally contains between 2% and 6% silver by weight Substantial amounts of silver are also recovered from galena UMG Divisions - Mining Services Contract Mining, Construction / Contracting, and Fabrication & Machine Services with 2009 revenues of over $15 million. Contract Services Mine development Mine rehabilitation Mine site civil construction Facility maintenance Excavation and road construction Property Reclamation Claim Staking Consulting Pond and dike construction Stream restoration Clients include: SNS Silver (Crescent Mine), Syringa Exploration Inc., U.S. Silver (Galena Mine), and West Valley Contracting Construction / Contracting Excavation Property Remediation and Reclamation Stream Restoration Flood Plain and Bank Stabilization Site Preparation Site Development Demolition Road Construction Pond and Dike Construction Utility Installation Consulting Clients include Bunker Limited Partnership, Bureau of Land Management, Hecla Mining Company, SNS Silver, State of Idaho Dept. of Environmental Quality, Union Pacific Railroad. U.S. Army Corps of Engineers, and U.S. Forest Service Fabrication and Machine Services Machining Welding Fabrication CNC Milling & Machining Custom Manufacturing Powder Coating Equipment Repair & Modification Consulting  Services Design & Engineering Services Local Distributors for Dywidag Resin (Bolts & Resin) Clients include Asarco, Bunker Hill Mining Co., Coeur d'Alene Mines, F & H Mine Supply, Hecla Mining Company, Kaiser Aluminum, SNS Silver, Stillwater Mining Co., Sunshine Mining Co., and U.S. Silver UMG Divisions - Crescent Mine Middle of "Silver Valley" Idaho Year 1 production 635,000 Ag oz Ramping up to 3,000,000 Ag oz in Year 3 Cash cost $7.46/oz More than 1 billion oz. silver historical production in "Silver Valley" Forward-Looking Statements This Newsletter and report contains certain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from current expectations and projections. Except for statements of historical fact relating to the project, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuations in prices & marketplace, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements. In This Issue Why United Mining Group? UMG Management UMG Balance Sheet Resources and Upside for Crescent Mine Crescent Mine Exploration Activities Crescent Mine - Mining and Processing Crescent Mine Mineralization UMG Divisions Forward-Looking Statements United Mining Group Links Quick Links Log in Now Forgot Password More About Us Contact Us Sponsorship Corporate Presentation Vertically Integrated Mining Company - Comprehensive Mining Services and World Class Silver Mine Corporate Fact Sheet Two Page Hand Out Summary Crescent Mine Background Report Crescent Silver Mine, Coeur d' Alene, Idaho December 1, 2009 Baron Group SUMMARY Crescent Mine NI 43-101 Readdressed NI 43-101 Technical Report on Resources United Mine Services, Inc. Crescent Mine Kellogg, ID United Mining Group Photo Gallery Click Here Disclaimer and Disclosure Disclaimer and Disclosure Equedia.com & Equedia Network Corporation bears no liability for losses and/or damages arising from the use of this newsletter or any third party content provided herein. 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