My own calculations from the October Financing

The Flow thru share money must be spent before the end of 2012.

Red Lake Area ........ - Rahill- Bonanza............................ .... $3,600,000

. - East Bay Project.......................... .........$500.000

Trans-Canada - Hardrock Project ..............................$11,350,000

. - Key Lake Project ............................. $500,000

. - Brookbank ....................................... $ 750,000

Non- Flow thru share money

Nevada Projects. ( Saddle, Blue Sage, & Humbolt ) ..... ... $ 5,000 000

Balance of the October funding

Gereral Corporate and working capitol....................... ..... $ 4,175,000

Total OCTOBER FUNDS FOR 2012 ......$28,650,000

Now lets add in 2012's February Financing

Purpose $ Allocatied from Non-Flow thru Proceeds

Rahill-Bonanza Project. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7,500,000

Hardrock Project. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 16,800,000

Saddle Project . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . $ 19,300,000

Repayment of a Portion of Long-Term Debt. . . . . . . . . . . . . . ....... $ 3,380,000

General Corporate and Working Capital. . . . . . . .. . . . . . . . . . ..... $ 1,782,500

IMHO New Total Budget Figures from both financings ( Oct & Feb )

Red Lake Area ........ - Rahill- Bonanza................................ $11,100,000

. - East Bay Project.....................................$500.000

. ns-Canada - Hardrock Project ..............................$28,150,000

. - Key Lake Project ............................. $500,000

. - Brookbank .......................................... $ 750,000

Nevada Projects. ( Saddle, Blue Sage, & Humbolt ) ....... ...... 24,300 000

General Corporate and Working Capital. . . . . . . .. . . . . . . . .$ 5,957,500

Repayment of a Portion of Long-Term Debt. . . . . . . . . . . . . . $ 3,380,000

This Total ( Does ot include any Feb Over Allotment ). $74,637,500

MY CONCLUSION

I see a lot of money is now budgeted for

1..- Hardrock Project

2...- Nevada Projects

3.. Rahill- Bonanza Project