got a lot of shares but this I really dont like this While the Company’s consolidated financial statements have been prepared using International Financial
Reporting Standards (“IFRS”) applicable to a going concern, which contemplates the realization of assets and
settlement of liabilities in the normal course of business as they come due, certain conditions and events
indicate a material uncertainty that may cast significant doubt about the Company’s ability to continue as a
going concern. For the period ended June 30, 2016, the Company reported a loss of $2,511 (June 30, 2015:
income of $15,954) and as at that date had an accumulated deficit of $15,510,551 (2015: $(15,508,040). As of
June 30, 2016, the Company had net working capital deficiency of $169,242 (March 31, 2016: working capital
deficiency of $166,731). The Company does not have sufficient funds available to bring its mineral properties
to production, if possible, which would allow it to be self-sustaining. The Company will need additional
financing to continue exploring, and if successful develop its properties to bring it to the production stage.
While in the past the Company has been successful in obtaining funding from equity financings, option
agreements, loans or through other arrangements, there is no assurance that these initiatives will be successful in