Barkerville Gold Mns Ltd BGMZF

RE:RE:When You Fail To Deliver on A Gold Lease, Case Study #1

[yaponski]

And it all ended in tears...

In connection with the Forward Agreement, Century and the Company had entered into security arrangements with Deutsche Bank, pursuant to which Century granted Deutsche Bank security over Century’s assets and undertaking, and the Company granted Deutsche Bank a pledge of its interest in Century. In the event of a default under the Forward Agreement, Deutsche Bank could realize its security and the Company could lose its interest in Century or Century could lose some or all of its assets, including any project or license areas held by Century, directly or indirectly. In connection with the Default, Deutsche Bank enforced its security on the properties of Century, including Century’s Lamaque project in Val d’Or, Québec and its San Juan project in Arequipa Department, Peru, and these projects have been placed under the control of a receiver.