Goldhunter,

1. They would have 24 months to spend the 26 million dollars raised.

2/3. At 1.5 million dollars per month Probe should have no problem burning through $26 million in 24 months. The key is that they have to be able to show Canada Revenue 26 million dollars in qualifying expenditures within 24 months of entering into the agreement. The reference to swapping money was perhaps confusing. I understand Probe has about $30,000,000 in cash now. They were before entering into the FT agreement and after free to spend this $30,000,000 as they wish. They now have an additional $26,000,000 which has to be spent on qualifying exploration expenses within 24 months. No doubt much of this $30,000,000 was once destined for exploration expenses- now they have other options for some of it - such as buying land.

4. Dave did not impose the 24 month rule. It is a condition of the Canada Revenue Flow-Through-Share program which allows investors to write off exploration expenses

Below is a link to the Canada Revenue glossary which defines terms associated with FT shares.

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/fts-paa/glssry-eng.html

Regards,

Pilgrim