The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

Number of shares:  7,671,407 flow-through shares

Purchase price:  43 cents per share

Warrants:  3,835,704 share purchase warrants to purchase 3,835,704 shares

Warrant exercise price:  50 cents for a two-year period, subject to accelerated expiry

Number of placees:  12 placees

Insider:  John Mirko, 116,280

Finders' fees:  Glores Securities Inc. received $128,700 cash and 149,651 finder's warrants. QWest Investment Fund Management Ltd. received $52,500.06 cash and 61,047 finder's warrants. Arthur Perna received $14,000 cash and 16,279 finder's warrants. Ascenta Finance Corp. received $1,204 cash and 1,400 finder's warrants. Each finder's warrant is exercisable to purchase one common share at an exercise price of 50 cents for a two-year period, subject to accelerated expiry.