The NI 43-101 technical report prepared by ERCOSPLAN and dated February 1, 2011 reports that the
Property consists of two Mineral (Potash) Exploration Licenses identified as Danakil Exploration License
No. 3137-3150/2000 covering 265.05km2 and the Bada Exploration License No. 0240-
0242/2001 covering 55.64km2 for an aggregate total of 320.69 km2. Subsequently, G&B, on application,
was granted extensions to the Danakil Exploration License No. 3137-3150/2000 covering an additional
159.31km². The extensions were granted in Q1-2011 to the eastern and western margins of the original
Property boundary referred to in the NI 43-101 report referenced above, which brings the aggregate total
area of the Property to 480km². The exploration licenses are valid for three years; the Danakil License
was granted August 21, 2008, the Bada License was granted December 21, 2008. In September 2011, an
extension was granted on license number 3137-3150/2000 for one year. G&B is currently awaiting
receipt of an extension on license number 0240-0242/2001.
In the first quarter of 2011, the Company retained ERCOSPLAN of Erfurt, Germany. ERCOSPLAN
prepared a NI 43-101 compliant preliminary resource assessment of the Property. This assessment is in
support of a milestone that is required to be achieved in the Option Agreement between the Company,
G&B and the shareholders of G&B.