On October 27, 2011, the Company received notice from the staff (the
"Staff") of the NYSE Amex LLC (the "Exchange") that the Staff had
accepted the Company's plan to regain compliance with the Exchange's
listing standards (the "Plan") by a targeted completion date of December
20, 2012. The Staff's acceptance of the Plan marks the completion of the
first step in the Company's process towards compliance with the
Exchange's listing standards.




The Staff reiterated that the Company is not in compliance with Sections
1002(c) and 1003(c)(i) of the NYSE Amex Company Guide (the "Company
Guide") and, with the Exchange's acceptance of the Plan, the Company's
listing is being continued pursuant to an extension. The Plan provides
for an 18 month schedule (starting from the initial date of notice of
non-compliance, June 20, 2011) whereby the Company expects to obtain a
working interest in one or more acceptable mineral exploration
properties. The Company will continue to provide the Exchange staff with
updates relative to the initiatives detailed in the Plan, including the
specific milestones to be met by July 31, 2012, and December 20, 2012.