Mr. James Boyce reports

EXPLORATION FINANCING

Goldbank Mining Corp. has arranged a private placement financing composed of the sale of 30 million units at five cents per unit. Each unit consists of one common share and one transferable warrant, each such warrant entitling the holder to purchase one additional share at a price of 6.5 cents per share for five years.

Goldbank is relying on exemptions from the related-party requirements of Multilateral Instrument 61-101 for the participation by a control person of Goldbank in the financing for up to $1.25-million approved in advance by independent directors. A portion of the financing is on a flow-through basis. Flow-through units entitle holders to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada) for shares issued, including on the exercise of warrants.

Proceeds of the financing will be used for exploration and development of Goldbank's Klondike gold properties, including costs related thereto, and for debt payments and working capital. The financing is subject to acceptance for filing by the TSX Venture Exchange.

Goldbank is a Canadian exploration company actively exploring for gold in the historic Klondike goldfields near Dawson City, Yukon, Canada.

We seek Safe Harbor.