Re: SEDAR: MANAGEMENT DISCUSSION AND ANALYSIS June 30, 2008

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bravekind

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Re: SEDAR: MANAGEMENT DISCUSSION AND ANALYSIS June 30, 2008

in response to

SEDAR: MANAGEMENT DISCUSSION AND ANALYSIS June 30, 2008

Highgrader

posted on Nov 03, 2008 03:13PM

I believe the current drilling work will meet this obligation. Does anyone know differently?

The Company has earned in 10% on an undivided basis by spending $1 million on exploration. On January 31, 2008 as part of the binding LOI, the Company gave notice to its joint venture partners Spider/KWG that it would exercise its right to opt into year two of the McFaulds Lake option agreement. This obligated the Company to expend an additional $1 million by the second anniversary of the option date (March 6, 2009). It is expected that the second earn in will be completed prior to year end 2008 at which time the company will have acquired a 25% interest.