Mr. Rodney Irwin reports

KAMAL OIL FAILS TO FINALIZE TENDER FOR KUTESSAY II AND KALESAY

Kamal Oil LLP has failed to pay $10-million (U.S.) as required by the State Agency for Geology and Mineral Resources of the Kyrgyz Republic. SAGMR cancelled the result of the tender for the subsoil licences for the Kutessay II rare earth deposit and the Kalesay beryllium deposits.

No information has been released regarding the future plans of the republic for a new tender for Kutessay II and Kalesay at this time.

We seek Safe Harbor.