•In the fourth quarter of 2012, the Company’s non-technical management team proposed to the Compensation and Human Resources Committee to defer 25% of its compensation until such time as market conditions improve. This was done after careful consideration and taking into account the continued sluggish performance of the junior exploration sector. The deferral took effect on January 1, 2013. As of April 1, 2013, management has also decided to change the deferral to a reduction in their compensation and take an additional 25% deferral in its fees. These measures continue to demonstrate Management's willingness to mitigate the persisting financial situation and market context to the best of its abilities while it seeks alternative avenues of building shareholder value.