Vol. 90 - A Message From Fred Fisher

Dear Member,

The Pinnacle Team has known Fred Fisher, President/CEO of HIHO Silver Resources (HHS:CNQ)(H9T:Frankfurt) for a couple of years now. We began covering Hi Ho Silver not only because we were impressed with the potential of the Carmi moly project, as well as the other properties in its fold, but because of the experience Fred brings to the table. There is no question that experience and desire to succeed will prevail in these markets going forward. Fred Fisher grew up drinking in the knowledge of his father's resource ventures and business associates in those wild resource markets of the 60's and 70's. After graduating from university he became  a broker in the booming mid to late 1980's Vancouver resource stock era, only to watch it all unravel in October of 1987. After that, the markets flat lined for a couple years but did come back with a vengeance. Fred went on to continue in the investor relations capacity with several companies as well as the raising of capital. He has spent time in Asia working on mergers and acquisitions.  He watched and survived the total mistrust the world imbedded in their minds with the infamous Bre X scandal. He survived the Asian currency crisis and the tech boom meltdown. Fred has also been a director for several companies. Through good and bad markets he has succeeded. With this in mind, we asked him to write a short President's address on Hi Ho Silver and his take on the markets in general. We find him to be a unique, personable and engaging man and we hope you do as well.

Fred Fisher, President/CEO of Hi Ho Silver Addresses Pinnacle Readers:

At this time I want to address the Pinnacle subscribers/readers who follow Hi Ho Silver Resources during these wildly unsettling and torridly trying markets. I do not write this intending for it to be a cheer leader "rah, rah, rah" message but to at least let the public know we are still alive and kicking and will continue to work hard to weather this whirlwind financial/economic meltdown!

As many of you know Hi Ho Silver Resources Inc. released our National  Instrument 43-101 compliant resource calculation report on our Carmi Moly  project published by P&E Mining consultants in late September after a brutally long painful wait. The initial calculations reported an indicated 12.9 million tonnes  grading .058% Mo containing 16.5 million lbs of Molybdenum and an additional 27.385 million tonnes grading .056% Mo inferred. The inferred amount contains an  additional 33.5 million lbs of Molybdenum. We were extremely pleased with these initial calculations and plan to follow through with the recommended 65 hole, two million dollar drill program to expand those calculations and bring the inferred category up to the indicated category. We realize the raising of new capital has certainly become a far greater task than it was prior to this meltdown but it is not impossible!

Hi Ho is looking into a method of funding which is non-dillutional and would allow us to immediately implement the suggested program by the engineers. We are working diligently to make this financing a reality and will keep working towards this goal. We firmly believe in the economic potential of the Carmi Project and fully intend to develop it to its fullest potential.

It has been difficult to watch as many months of hard work, property development and ongoing marketing has evaporated seemingly overnight. Several of my peers who have excellent companies and projects find themselves in a similar state. Regardless, the demand for moly, metals and precious metals will continue to be strong and the value of those with economic deposits will thrive in given time. There are many companies lurking in the weeds that beg to be bought.

Hi Ho will have a booth in a Chinese mining conference in Beijing running November 11th, 12th and 13th and will continue to make as many inroads to the Asian market as possible. We also were an exhibitor at the Global Chinese Financial Forum in Markham, Ontario on Saturday October 18, 2008. I will continue to develop our Canadian presence.

In closing I would like to add that I was a broker during the 1987 crash and while this one is vastly different, the world does go on and both junior and senior listings do survive and recover. A necessary degree of patience is unfortunately a key component to weathering this storm.

Take care and eagerly look forward to a far better year ahead!

Signed,

HI HO SILVER RESOURCES INC.

"Fred Fisher"
President / CEO