TSX Company Manual – Appendix B - Disclosure Standards for Companies Engaged in Mineral Exploration, Development & Production

"The standards set out requirements of the Toronto Stock Exchange for company’s providing information to investors, regulators and/or the media regarding their mineral properties. In addition, information contained in new releases, continuous disclosure documents [annual report], or other forms of communication [printed investor relations materials and electronic publications] are also subject to these standards.1.0 INTRODUCTIONThe disclosure of the results of exploration and development activity on mineral properties mustcomply with the requirements of the Toronto Stock Exchange Policy Statement on Timely Disclosure, theOntario Securities Act and all applicable policies and rules of the Ontario Securities Commission and anyother securities regulatory body having jurisdiction over an issuer listed on the Exchange. In particular,the requirements of National Instrument 43-101 must be followed.The purpose of the standards is to set out the requirements of the Toronto Stock Exchange when acompany provides information to investors, regulators and/or the media regarding its properties, whethersuch information is contained in a news release, a continuous disclosure document such as an annualreport, or other form of communication, including, but not limited to, printed investor relations material andelectronic publications such as Internet Web sites. These standards do not apply to prospectuses orlisting applications, the standards for which are contained in the policies and rules of the securitiescommissions and the Exchange. These standards are also not intended to establish requirements for thecontent of technical reports.Any information published by or on behalf of a company must comply with these standards. If acompany becomes aware of information published by others regarding its mineral properties which ismaterially misleading to investors, it should take appropriate action to correct such information orotherwise make it known that it is not responsible for publishing such information and does notnecessarily agree with such statements.Disclosure concerning mineral properties should identify the ""qualified person"" as defined in NI 43-101 who is responsible for the work conducted on the property and such person shall have read andapproved of the technical disclosure."