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

Number of shares:  5,478,500 non-flow-through (NFT) shares and 30,000 flow-through (FT) shares

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

Warrants:  5,478,500 share purchase warrants to purchase 5,478,500 common shares and 15,000 share purchase warrants to purchase 15,000 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.) and 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 warrantholders that the exercise period will be shortened to 45 days from the date of notice.)

Hidden placees:  22 hidden placees

Insider:  Ron Netolitzky, 3.55 million NFT

Finders' fees:  $29,598 and 65,080 Broker Warrants payable to Northern Securities Inc.; $2,700 payable to Mackie Research Capital Corp.; $26,730 payable to Victor Dario (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.)