The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced July 3, 2012.

Number of shares:  4,166,700 shares

Purchase price:  60 cents per share

Warrants:  4,166,700 share purchase warrants to purchase 4,166,700 shares

Warrant exercise price:  90 cents for a two-year period (If the company's shares trade at $1.60 or greater for a period of 20 consecutive trading days, the company may, upon notice to the warrantholders, shorten the exercise period to 30 days from the date of notice.)

Number of placees:  26 placees

Finders' fees:  $1,792.06 cash and 2,986 warrants exercisable at 90 cents for a two-year period, and with the same acceleration provisions as noted above, payable to Canaccord Genuity Corp.; $11,718 cash and 19,530 warrants (same terms as above), payable to Euro Pacific Canada Inc.; $91,200 cash and 152,000 warrants (same terms as above), payable to Global Market Development LLC (Jeffrey Phillips)