The TSX Venture Exchange has accepted for filing documentation withrespect to a non-brokered private placement announced March 11, 2011,and March 25, 2011.
Number of shares: 85,714,286 shares and 242,718,844 subscriptionreceipts (Each subscription receipt entitles the holder, uponsatisfaction of certain conditions being met within a 12-month period,to acquire one common share and one-third of one common share purchasewarrant for no additional consideration. Each whole common sharepurchase warrant is exercisable into one common share at 50 cents for afour-year period.)
Purchase price: 35 cents per share and 35 cents per subscription receipt
Warrants: 109,477,711 share purchase warrants to purchase 109,477,711 shares
Warrant exercise price: 50 cents for a four-year period
Hidden placees: 27 hidden placees
Insider: Arias Resource Capital Fund LP (J. Alberto Arias), 11,184,832
Finders' fees: A total of $6,015,888 (U.S.) and $38,812 (Canadian)payable to Itau BBA Securities Inc., Byron Capital Markets Ltd. andLeafore Capital Ltd.