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

Number of shares:  29.65 million shares

Purchase price:  26 cents per share

Warrants:  14,825,000 share purchase warrants to purchase 14,825,000 shares

Warrant exercise price:  36 cents for a two-year period

Number of placees:  110 placees

Total pro group involvement:  1.31 million (10 placees)

Agents' fees:  PI Financial Corp. received $55,328 cash and 212,800 finder's warrants. StephenAvenue Securities Inc. received $3,500.01 cash and 13,462 finder's warrants. Research Capital Corp. received $2,730 cash and 10,500 finder's warrants. Sven Olsson received $42,104.99 cash and 161,942 finder's warrants. Sprott Capital Partners LP received $72,800 cash and 280,000 finder's warrants. Each finder's warrant is exercisable to purchase one common share at an exercise price of 36 cents for a two-year period.