From Richar Marshall:

Based on the application we have made to MinAmb and all our plans and operations being contained well within the boundaries of the Las Cristinas 4, 5, 6 & 7 mining concessions covered by the Mine Operating Contract (“MOC”), the Company does expect that the Environmental Permit requested would allow for the full and final construction activities (i.e. the building of the remaining infrastructure, the site clearing and prep, the building and management of a tailings containment facility, the building of mine pits and stockpiles, the building of a Gold processing Plant etc).

As I understand it, an Initiation Act is a procedural activity whereby a Ministry Official visits the site where a permit has been awarded and meets with the permit recipient at site to make sure there’s no misunderstanding as to the Permit, its language and specificity.

The notification letter, as outlined in our November 28th, 2008 update release was delivered to the government officials on November 28th , in accordance with the Canada/Venezuela Investment Treaty.

Regards,

Richard Marshall