Seems to actually be more like $2.65325 million total after warrants are exercised...with a little under $1.4 m initally if you take away $118,000 Agent fees from the $1.5 m raised on the initial three million flow-through shares at 50 cents per

{ $1.5 m + $1.125 m + $0.0975 m + $0.04875 m - $0.118 m) = $2.65325 m

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3 million x .5 = $1.5 million

potential 1.5 million warrants x .75 = $1.125

(145000 + 150000) x .5 = $97,500 <- Agent options

(145000 + 150000)/2 x .5 = $48,750 <- not sure it the Agent options have warrants tied tp them

-58,000 -60,000 = -$118,000 <- Agent fees

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based on the following in last press release

- Number of shares: three million flow-through shares

- Purchase price: 50 cents per flow-through share

- Warrants: 1.5 million share purchase warrants to purchase 1.5 million shares

- Warrant exercise price: 75 cents for a two-year period

Number of hidden placees: eight

Agents' fees: $58,000 cash and 145,000 options payable to Limited Market Dealer Inc.; $60,000 cash and 150,000 options payable to Pope & Company Ltd. Agent fee options are exercisable at 50 cents per non-flow-through unit for two years and the units are under the same terms as those to be issued pursuant to the private placement.