Subsequent to December 31, 2007, the Company renounced the flow-through offering that occurred on July 4, 2007.Pursuant to the terms of the flow-through share agreements, the Company is in the process of complying with its flowthrough contractual obligations with subscribers with respect to the Income Tax Act (Canada) requirements for the lookback rule. The look-back rule requires the Company to incur qualifying exploration expenditures in Canada ("CEE") within 12 months from the effective date of renunciation. As at June 30, 2008, the Company is committed to incurring approximately $12,060,000 in CEE by December 31, 2008 arising from the flow-through offerings.