Liquidity The Company began the period with cash of $1,741,468. In the four months ended December 31, 2014, the Company expended $902,919 on operating activities, expended $1,114,039 on investing activities, and received $4,217,045 from financing activities with a positive effect of foreign exchange on cash of $8,933, to end on December 31, 2014 with $3,950,488 in cash. In the four month period ended December 31, 2014, the Company received US$3,000,000 of the US$18,330,000 purchase price from the sale of a 30% interest AMSC. As at December 31, 2014, the Company had working capital of $7,514,082. However, given that management intends to commence development of the Asmara Project during fiscal 2015, management estimates these funds will not provide the Company with sufficient financial resources to carry out currently planned operations through the next twelve months. The Company will need to seek additional sources of financing to bring the Asmara mine into production. While the Company has been successful in the past in obtaining financing, there is no assurance that it will be able to obtain adequate financing in the future or that such financing will be on terms acceptable to the Company. These material uncertainties may cast significant doubt upon the Company’s ability to continue as a going concern.

FINANCIALS ON SEDAR AS OF APRIL 30 2015