The private placement consisted of 6,037,735 flow-through common shares ("Flow-Through Common Shares") at a price of C$0.53 per Flow-Through Common Share and 1,250,000 units ("Units") at a price of C$0.40 per Unit for gross proceeds of C$3,700,000 (the "Offering"). Each Unit consists of one non-flow-through common share ("Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant") entitling the holder thereof to purchase an additional Common Share at C$0.53 per Common Share for a period of up to 24 months following the closing of the Offering.

obs, i can see where this was a good deal for both parties. the purchaser (after tax write off) goes into GNH about even on the current SP (maybe even gets a little extra on the tax end) but he also gets a 24 month 1/2 warrant at .53.....either way i believe the deal shows confidence in GNH on behalf of the purchaser. i also believe the deal was prudent on behalf of management (strike while the iron is hot) because IF assays did'nt come out well they would still be able to conduct exploration regardless of the PPS and not have to raise funds in a bad environment. from what i see and hear from management i believe they have an excellent plan going forward. i would highly recommend all investors call sasha if they have questions regarding the companies plans for 2011'.