Dear Shareholder,

Thank you for your inquiry. Please find a response to your inquiry from Avalon Ventures below:

The Company presently has approximately $10 million in cash in its treasury, more than adequate funding to complete the pre-feasibility study on the Thor Lake project. It has warrants expiring next spring exerciseable at $2.00. The Company will not need additional funding before mid 2009 at the earliest. Its burn rate for administrative overheads is in the order of $150,000 to $200,000 per month.

Thanks again for your inquiry and for your continued participation within the AGORACOM Community.

Kind Regards,

AGORACOM Investor Relations