Eric Sprott - From Here Silver is a 30 Bagger to $1,200

With stocks plunging and gold and silver still consolidating recent gains, today King World News interviewed billionaire Eric Sprott, Chairman of the $10 billion strong Sprott Asset Management to get his take on the action.  When asked about gold Sprott replied, “I think it’s explosive.  As you know James Sinclair said, ‘When it goes through $1,764 it’s going to $12,000,’ and I for one am not ruling out that kind of development here.  It could be very explosive as more and more people worry about one, fiat currencies, two, sovereign debt and three, bank deposits.  It would take very little to spill into gold to make a dramatic difference in where the price will be.”

Drilling Success Continues at Promontorio as Kootenay Hits 205 meters of 117 gpt Silver Equivalent in Step-Out Drilling in Southwest Zone

Kootenay Gold Inc. (TSX VENTURE: KTN.V) is pleased to announce assay results from the first seven holes of its ongoing 25,000 meter multi-phase drilling program on its Promontorio Silver project in Sonora, Mexico.

Results include three holes (DH 54 to 56) of in-fill drilling of the Pit Resource and four holes (DH 58 to 61) into the Southwest Zone outside of the Pit Resource designed to confirm continuity between the two mineralized areas. Results from the first seven holes demonstrate widely disseminated Zones of silver mineralization extend beyond current resource boundaries and continuation of higher grades within the Pit Resource.

States Kootenay President and CEO James McDonald "We are very pleased with results from the first seven holes of our 25,000 meter drill program. Not only is diamond drilling continuing to hit higher grades of silver at depth where previous drilling bottomed out in silver mineralization within the Pit resource itself, equally important to our resource expansion program, we are seeing continuity of silver mineralization developing in the Southwest Zone from step-out drilling that returned impressive intervals and grades of widespread silver mineralization extending to depth".

Globe and Mail: Think Gold May Lose Some Lustre? Eric Sprott Sees a Silver Lining

Eric Sprott, the perennial gold enthusiast, has his sights set on a new precious metal.
Mr. Sprott’s charitable organization, The Sprott Foundation, is selling two million units of its gold holdings and using the money to buy silver.
The move comes as gold veers close to $1,800 (U.S.) per ounce, and less than a week after Mr. Sprott had declared the metal “the investment of the last decade” in an interview with GoldMoney Foundation. “I think silver is going to be the investment of this decade.”

Since the commodity boom kicked into high gear last fall, Mr. Sprott has been touting silver’s merits. To demonstrate his conviction, he set up and invested his own money in the exchange-traded Sprott Physical Silver Trust (PHS.U-T19.40-0.93-4.57%), which buys silver bullion and stores it at the Royal Canadian Mint. Investors in the trust can cash in their units, or take delivery of silver in physical form if they wish.
He also launched a Silver Bullion Fund that enables investors to speculate on the metal’s market price, but without the physical redemption option.

Investorplace: China’s New Futures Market Will Lift Silver

Why Hong Kong Mercantile Exchange is a game-changer

By Keith Fitz-Gerald

If you’re still bearish on long-term silver prices, you’d better reconsider your stance.
Dollar-denominated Chinese silver futures were scheduled to begin trading on the Hong Kong Mercantile Exchange early today. This development will grant Asian investors direct access to the metal and will blunt the U.S. dominance in silver-bullion trading.
It’s also highly bullish for long-term silver prices.
Let me explain …

Gold ,Silver, Stocks: What the Big Guys are Saying

Some of the biggest names in the Canadian investment sector talk to Stockhouse about their views on the outlook for precious metals and underlying stocks.
Sprott Inc. Chairman Eric Sprott
Veteran Canadian money manager Eric Sprott believes silver will emerge as the investment opportunity of the decade and may reach US$50 an ounce before the end of 2011.
As anti-government demonstrations in Egypt sent U.S. stocks into retreat on Friday, lifting some of the selling pressure on precious metals, a Canadian money manager said he expects silver to emerge as the investment opportunity of the current decade.
Eric Sprott, the 66-year-old Chairman of Toronto-based Sprott Inc., said he is prepared to bet that silver prices will not only rebound from the recent peak of US$31.24 an ounce, they will also reach highs not seen since 1980s, when the white metal reached an all-time high of almost $50 an ounce.

Kootenay Announces Three Diamond Drill Rigs Now Operating on Promontorio

Kootenay Gold Inc. (TSX VENTURE: KTN.V) is pleased to announce it now has three core drills operating at the Company's Promontorio Silver Project in Sonora, Mexico with the recent commencement of drilling of the third diamond drill rig.

As previously announced on May 31, 2011, the drills are executing a 25,000 meter diamond drill program to follow up on the success of the Company's recently concluded 10,000 meter drill program on Promontorio. The current drill program represents the single largest and most expansive drilling campaigns conducted on Promontorio to date. The multi-phase step out and in-fill drilling program at Promontorio will be ongoing for the next several months.

Union Securities Initiates Analyst Coverage of Kootenay Gold

http://www.union-securities.com/contact.asp

For report details please contact:

Brian Mok, P.Eng., MBA

Senior Mining Analyst

Mining

416-775-5135

bmok@union-securities.com