Dear shareholder,

Thank you for your inquiry. The following response was provided by management.

The decision on the Kerrs deal was based on the fact that we have committed to focus on our prominent area being Beardmore-Geraldton. The Lake Abitibi area and Kerrs in general would require an ongoing commitment financially and time wise for years to come. It takes years to develop a potential mine and hundreds of thousands of metres of drilling, etc.

Our transaction with Sheltered Oak brought us a large amount of SOR shares and a cash component which was deemed fair at this juncture. This was all detailed in the PR by SOR this past summer.

Regards,

AGORACOM Investor Relations