RE: Extra Extra.........read all about itThe Company is currently in default of exploration expenditures as required by the second
option agreement to undertake and spend USD$1,500,000 on or before January 25, 2009 and
a cumulative amount of USD$2,000,000 in exploration expenditures by January 25, 2010.
The result of the default is a result of the Company’s inability to raise sufficient funds due to
the current depressed economic state of the global capital markets. To date the Company has
spent $708,898 in exploration expenditures. The Company is currently negotiating an
extension regarding the required expenditures with the Optionors. Once negotiation of
matters surrounding the default have been settled and the Company is able to obtain
sufficient funding to financing additional exploration activities, management of the Company
will further evaluate strategies for proceeding with exploration of the property.
worrisome no? wonder if chuck will come to the rescue?