Share Structure

Share Structure (as of December 31, 2011 - unaudited):

Shares Issued and Outstanding~71.4M
Options Outstanding~ 3.6M
Warrants Outstanding*~17.5M

Fully Diluted~92.5M

*Warrants Detail:
Warants OutstandingPriceExpiry
900,000$CDN1.25April 11, 2012
4,350,000$CDN1.60August 19, 2013
522,000*$CDN1.15August 19, 2013
652,500$CDN1.60August 19, 2013
10,804,606$CDN1.14October 26, 2015
17,229,206

* Compensation warrants when exercised consist of one share and 1/2 warrant (at $1.60) thus warrants increase to 17.5M when fully diluted.