The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Feb. 17, 2011.

Number of shares:  404,818 shares

Purchase price:  $1.10 per share

Warrants:  404,818 share purchase warrants to purchase 404,818 shares

Warrant exercise price:  $1.60 for a two-year period (If the company's shares close at $2.20 or higher for 20 consecutive trading days, the company may, upon notice to the warrantholders, shorten the expiry date of the warrants to 30 days from the date of notice.)

Hidden placees:  11 hidden placees

Insiders:  Foster Wilson, 5,000; Pinetree Resource Partnership (Pinetree Capital Ltd., a Toronto Stock Exchange-listed company), 181,818

Pro group:  Jamy Levy, 25,000

Finders' fees:  $7,700 cash and 7,000 warrants with same terms as warrants issued pursuant to the private placement payable to Raymond James Ltd.; $700 cash and 700 warrants (same terms as above) payable to Union Securities Ltd.; $770 cash and 770 warrants (same terms as above) payable to Canaccord Genuity Corp.; $1,155 cash and 1,050 warrants (same terms as above) payable to Scotia McLeod.