Vaaldiam Mining Inc VAALF

News Flemish Gold

[McLacherty]

Flemish Gold Corp. Vaaldiam owns 10,625,000 common shares of Flemish, or 22.9%, purchased for about $0.32 each. Flemish recently completed a private placement at $0.75 per common share, valuing our investment at $8 million. Flemish is the spiritual successor to Pangea Goldfields, which Barrick purchased for more than $200 million in June 2000 to acquire the Tanzanian gold assets. Flemish’s strategy is to acquire high potential gold exploration assets in previously overlooked and underexplored parts of Africa. It explores, builds resources and waits for sentiment to improve. Flemish is now drilling in Burundi and intends to go public in 2011. Click here for the most recent Flemish presentation.