The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Feb. 18, 2011.

Number of shares:  21,048,020 non-flow-through shares (NFT) and 2,475,250 flow-through (FT) shares

Purchase price:  45 cents per non-flow-through share and 58 cents per flow-through share

Warrants:  21,048,020 share purchase warrants (NFT) to purchase 21,048,020 common shares and 1,237,635 share purchase warrants (FT) to purchase 1,237,635 common shares

Warrant exercise price:  60 cents for a two-year period and 65 cents for the third year for the NFT warrants (If, at any time that is 18 months after the closing of the private placement, the weighted average price of the company's shares is greater than $1.20 for a period of 20 days, the company may provide notice to warrantholders that the exercise period will be shortened to 45 days from the date of notice); 70 cents for a two-year period for the FT warrants (If, at any time that is 12 months after the closing of the private placement, the weighted average price of the company's shares is greater than $1.40 for a period of 20 days, the company may provide notice to flow-through warrant holders that the exercise period will be shortened to 45 days from the date of notice.)

Hidden placees:  221 hidden placees

Pro groups:  Mark Wayne, 220,000 NFT shares; Marilyn Kvellestad, 15,000 NFT shares; Kenneth Gaskell, 20,000 FT shares; Brock Aynsley, 200,000 NFT shares

Insiders:  Ron Netolitzky, 440,000 NFT and 200,000 FT shares; Klaus Lehnert-Thiel, 50,000 NFT and 50,000 FT shares; Rodney Orr, 10,000 NFT and 10,000 FT shares

Finders' fees:  $673,609.93 and 1,384,045 broker warrants payable to Northern Securities Inc.; $9,000 payable to TR Winston & Company; $7,425 payable to Markus Wehrmuller; $43,200 payable to National Bank Financial; $5,400 payable to CIBC World Markets (Each broker warrant is exercisable into one unit at a price of 45 cents for a two-year period. Each unit consists of one common share and one warrant exercisable into one common share at a price of 45 cents for a two-year period.)