From the Desk of Nick Nicolaas #26: On the road from Europe

April 23, 2004

Re: Zurich and European perspective

Dear Friends:

This week I was in Zurich and spent the last couple of days at the Denver Group Gold Conference 2004. This Conference only allows producers to make presentations and explorers are not allowed. The only attendees allowed in are Mining Analysts, Buy-side Brokers, Fund, Capital and Portfolio Managers. I, as a consultant, was not allowed to attend but I had made arrangements to meet with some of our own contacts to meet at the Hotel Bauer au Lac where the Conference was held and consequently I had a full meeting schedule in the lobby of the hotel where I made some new contacts as well and was awarded a great opportunity to introduce and discuss Tumi and its endeavors. Not only was I here to make new contacts but to see and find out how the Conference is conducted since I feel Tumi Resources is on its way to become a silver-producers and I expect that the Company will be a presenter at this prestigious Conference soon.

It was clear that the Conference attendees were already convinced that we are in a long-term metals bull market. They did not care where the gold or silver price is at this time and were here only to listen to the companies in which they have already invested and perhaps expand their investment as well as listen to those companies which they might like to add to their portfolio. I can not stress this enough these people are believers and some have already positioned themselves and are adding to their positions and other are getting positioned now.

Talking about positioning, the Gold and Silver markets were hit hard in the past couple of weeks and so was my favorite Silver Explorer Tumi Resources. Actually Tumi was hit with a double whammy because a December 2003 Private Placement became free trading on April 19, 2004 and so in addition to a correcting silver market the market had that to deal with that as well.

The stock traded very well under the circumstances and on Wednesday, out of the blue, Mr. Peter Zihlman, a well known Swiss investment advisor (www.pzim.com) sent out the attached advisory letter to his subscribers and investors expressing the consensus here at the Conference that this down-turn in the market is an excellent buying opportunity. Although he used the wrong chart, he also mentioned Tumi, among the majors in his advisory, and suggested that “the shares of Tumi should be accumulated after the correction of the last few days”.

Yesterday I looked for him at the Conference and thanked him for his faith in the management of Tumi and its endeavors.

Slowly we are getting the word out that Tumi is worth paying attention to and I hope that my next three weeks in Europe will be add to that perception.

I will be in Frankfurt and Amsterdam next week so stay tuned …..

Regards,

Nick Nicolaas

nicolaas@attglobal.net

(604) – 657-4058