Additional Disclosure for Venture Issuers without Significant Revenue

To date, the Company has historically had minimal revenues and acquired its operating funds primarily by means of equity and debt issues. Of the amount capitalized in the quarter ended June 30th , 2008:

$0 was on account of development at the SG 1 mine (2007 - $441,060),

$197,112 was on account of development at the Cartwright/Hinge zones (2007 – nil) and

$1,341,672 was on account of development at the Rice Lake Mine (2007 - $555,232).

The proportion of funds spent on direct operating expenses compared to general expenses is highly variable from quarter to quarter and year to year, depending on the Company’s ability to raise exploration and development capital and its exploration and development activities.