METALORE RESOURCES LIMITED

NOTES TO FINANCIAL STATEMENTS YEARS ENDED MARCH 31, 2009

4. LONG TERM INVESTMENTS

In 1999, the Company purchased 3,600,000 shares of Ontex at $0.35 per share, for total consideration of $1,260,000. In fiscal 2002, the Company purchased an additional 600,000 shares at $0.30 per share on a flow through basis for $180,000. At year end, the market value of the Ontex shares is $1,029,000 (2008 - $1,344,000). The investment in Ontex is currently treated as available for sale ----.

METALORE RESOURCES LIMITED

Page 3 Results of Operations - Commentary

Six Months ended September 30, 2009

Statement of Cash Flows ------.

16. The company sold some of its Ontex shares and at the same time adjusted its portfolio of low risk marketable securities. -------.