Resource Capital Gold Corp GDPEF

Had discussion with Erik Williams at IBK

[lmcbain]

Good morning all,

I was able to touch bases with Erik Williams at IBK and while I can't provide any earthshattering news as a result, I can tell you that he was cordial and professional and appears to have a legitimate belief in the company and the projects, as well as IBK's ability and interest to execute the raise.

Erik indicated that IBK has taken a good look at the information available on the projects and is quite impressed by them. He also indicated that he sees no major issues with Indonesia as a mining jurisdiction, nor does he see any inherent issues with the RI specific projects in that regard. He liked both the geographic and geologic proximity and similarity to other known resources in the region.

Erik also indicated that RI has provided all of the necessary documentation for IBK to complete the Offering Memorandum and that this is essentially complete.

There was no explicit commentary during my discussion on this next topic; however, I highly doubt there will be any significant activity this coming week, as both Canada Day (Mon, July 1st) and independence Day (Thu, July 4th) fall during next week.

One of the things Erik made comment on, is that his firm's primary focus is mining (gold specifically) and that he sees RI as still having real potential. He is a believer that even though there have obviously been issues, that good projects like this can provide the path to correcting those issues and re-establishing the company.

I cannot and will not guarantee success in the raise, as I have not seen IBK in action personally; however, Erik seemed to have a legitimate belief that they will be successful in this pursuit.

PS - he also confirmed the process that has been undertaken:
 - the company provided presentation regarding the projects, the funding need ,etc.
 - IBK and RI entered negotiations with respect to what the raise would look like
 - IBK made some small inquiries within their current scope of clients with respect to potential interest
 - the admin fee was paid by RI and the contract was consummated
 - the requisite information was provided to IBK, by RI, for the completion of the Offering Memorandum
 - the Offering Memorandum documentation is them completed by IBK (should pretty much be done)
 - IBK will then start the work that goes into executing the raise itself and the collection of the funds.


I hope this is of assistance.

Salut,
Leigh McBain