Provisions of Agreement and Subscription Receipts for the Sole Benefit of Parties  and Receiptholders

“1933 Act” means the United States Securities Act of 1933, as amended;

“Affiliate” has the meaning set out in National Instrument 45-106—Prospectus and Registration Exemptions;

“Agency Agreement” means the agency agreement dated August 17, 2009 among the Company and the Agents in respect of the Private Placement;

“Agents” has the meaning attributed thereto in the recitals to this Agreement;

“Agreement” means this agreement, as amended, supplemented or otherwise modified from time to time in accordance with the provisions hereof;

“AMEX” means the NYSE Amex LLC;

“Business Day” means a day other than a Saturday, Sunday or any other day on which the principal chartered banks located in Vancouver, B.C. or Boise, Idaho are not open for business;

“Closing Date” means August 17, 2009, or such other date as may be agreed upon by the Company and the Agents as the closing date of the Private Placement;

“Common Shares” means the shares of common stock of the Company, $0.001 par value and evidencing an equal undivided beneficial interest in the Company;

“Current Market Price” for any date means the volume weighted average price per unit for Common Shares for 20 consecutive trading days ending on the fifth trading day preceding the date of determination on the AMEX (or, if the Common Shares are not listed thereon, on such stock exchange on which the Common Shares are listed as may be selected for such purpose by Company or if the Common Shares are not listed on any stock exchange, then on the over-the-counter market). The volume weighted average price shall be determined by dividing the aggregate sale price of all Common Shares sold on the said exchange or market, as the case may be, during the said 20 consecutive trading days by the total number of Common Shares so sold;

“Deadline” means 5:00 p.m. (Toronto time) on the date that is four (4) months and one (1) day following the Closing Date;

“Designated Office” means the principal stock transfer office of the Subscription Receipt Agent from time to time in Toronto, Ontario;

“Designated Provinces” means each province of Canada other than Quebec, designated by the Agents as a jurisdiction in which a receipt for the Prospectuses is to be issued and includes each province in which a Purchaser is resident;

“Exchange Date” means the date that is the earlier of: (a) the date on which a receipt is issued (or deemed to be issued) for the Prospectus qualifying the distribution of the Common Shares and Warrants to the holders of the Subscription Receipts in each of the Designated Provinces; and (b) the Deadline;

“Issue Time” means 5:00 p.m. (Toronto time) on the Exchange Date;

“Original Purchasers” has the meaning attributed thereto in Section 2.12;

“Person” means and includes individuals, corporations, limited partnerships, general partnerships, joint stock companies, limited liability companies, joint ventures, associations, companies, trusts, banks, trust companies, pension funds, business trusts or other organizations, whether or not legal entities and governments, governmental agencies and political subdivisions thereof;

“Private Placement” means the private placement of Subscription Receipts contemplated by the Agency Agreement;

“Private Placement Proceeds” means the gross proceeds from the issuance of Subscription Receipts under the Private Placement;

“Prospectus” as the context may require, means the preliminary and final version of the prospectus to be filed in each Designated Province relating to the distribution of the Common Shares and Warrants to the holders of the Subscription Receipts upon exercise thereof and, unless the context otherwise requires, includes any amendments or supplements thereto, and “Prospectuses” means both the Preliminary Prospectus and Final Prospectus;

“Receiptholders” or “holders” means the persons who are registered owners of Subscription Receipts;

“Receiptholders’ Request” means an instrument signed in one or more counterparts by Receiptholders entitled to acquire in the aggregate not less than 25% of the aggregate number of Underlying Common Shares which could be acquired pursuant to all Subscription Receipts then outstanding, requesting the Subscription Receipt Agent to take some action or proceeding specified therein;

“Securities Laws” means, as applicable, the securities laws, regulations, rules, rulings and orders in each of the Selling Jurisdictions, and the notices, policies and written interpretations issued by the Securities Regulators in each of the Selling Jurisdictions, and the rules of the TSX and AMEX;

“Securities Regulators” means the securities commissions or other securities regulatory authorities of all of the Selling Jurisdictions or the relevant Selling Jurisdiction as the context so requires;

“Selling Jurisdictions” means each of the provinces of Canada, other than Quebec, and the United States and such other jurisdictions which are agreed to by the Company and the Agents; and “Selling Jurisdiction” means, in the case of any Receiptholder, the jurisdiction in which such Receiptholder is resident;

“Shareholders” means the holders from time to time of Common Shares;

“Subscription Price” means Cdn.$1.35 per Subscription Receipt for all Subscription Receipts issued under the Private Placement;

“Subscription Receipt Agent” means Computershare Trust Company of Canada or its successors from time to time under this Agreement;

“Subscription Receipt Certificate” means certificates evidencing Subscription Receipts substantially in the form attached as Schedule A hereto with such appropriate insertions, deletions, substitutions and variations as may be required or permitted by the terms of this Agreement or as may be required to comply with any law or the rules of any securities exchange or as may be consistent with the terms of this Agreement and as the Company may deem necessary or desirable;

“Subscription Receipts” means the subscription receipts of the Company issued and certified hereunder and from time to time outstanding, each Subscription Receipt evidencing the rights provided for herein;

“TSX” means the Toronto Stock Exchange;

“Underlying Common Shares” means the Common Shares issuable to holders of Subscription Receipts without payment of additional consideration on the Exchange Date;

“United States” means the United States of America, its territories and possessions, any State of the United States of America and the District of Columbia;

“Units” means units of the Company, with each Unit comprised of one Common Share and one-half of one Warrant;

“Warrants” means the Common Share purchase warrants, to be evidenced by the Warrant Certificate, issuable to Receiptholders, together with the Underlying Common Shares, in exchange for the Subscription Receipts on the Exchange Date;

“Warrant Certificate” means a certificate evidencing Warrants substantially in the form attached as Schedule B hereto, with such appropriate insertions, deletions, substitutions and variations as may be required or permitted by the terms of this Agreement or as may be required to comply with any law or the rules of any securities exchange or as may be consistent with the terms of this Agreement and as the Company may deem necessary or desirable; and

“Warrants Shares” means each Common Share issuable upon exercise of a Warrant.

references to Articles, Sections, and Schedules are to Articles, Sections, and Schedules in this Agreement; and

“hereto”, “herein”, “hereby”, “hereunder”, “hereof “ and similar expressions, without reference to a particular provision, refer to this Agreement.

the singular includes the plural and vice versa; and

references to any gender shall include references to all genders.

Issue of Subscription Receipts

An aggregate of up to 8,100,000 Subscription Receipts providing for the right, in certain circumstances, as provided herein, to acquire an aggregate of up to 8,100,000 Units are hereby created and authorized to be issued by the Company for a price per Subscription Receipt equal to the Subscription Price, and Subscription Receipt Certificates shall be executed by or on behalf of the Company, certified by or on behalf of the Subscription Receipt Agent and delivered in accordance with this Agreement.

Subject to the terms and conditions hereof, each Subscription Receipt will automatically became one Unit without payment of additional consideration at the Issue Time.

Payment Acknowledgement

Subject to subsection (d), the Company hereby acknowledges receipt from the Agents of funds by certified cheque, payable to the Company’s counsel, Goodmans, in trust for the Company, in the amount of Cdn.$10,178,900.00, representing the net Private Placement Proceeds after deduction of the Agents’ fees and related expenses;

The Company hereby acknowledges that the Private Placement Proceeds represents payment in full by the Agents of the Subscription Price for 8,100,000 Subscription Receipts issued pursuant to the Private Placement;

The Agents, on behalf of the Receiptholders, acknowledge receipt of the Subscription Receipt Certificates representing, in aggregate, 8,100,000 Subscription Receipts registered in the name of the Receiptholders; and

Notwithstanding the foregoing, until such time as the Company’s counsel is in physical possession of the certified cheque referred to in subsection (a), the Subscription Receipt Certificates shall be of no force or effect, and may be cancelled by the Company without any recourse or liability to the Receiptholders.

Terms of Subscription Receipts

Certification by the Subscription Receipt Agent

No Subscription Receipt Certificate shall be issued or, if issued, shall be valid for any purpose or entitle the holder to the benefits hereof until it has been certified by manual or facsimile signature by or on behalf of the Subscription Receipt Agent, and such certification by the Subscription Receipt Agent upon any Subscription Receipt Certificate shall be conclusive evidence as against the Company that the Subscription Receipt Certificate so certified has been duly issued hereunder and that the holder is entitled to the benefits hereof.

The certification of the Subscription Receipt Agent on Subscription Receipt Certificates issued hereunder shall not be construed as a representation or warranty by the Subscription Receipt Agent as to the validity of this Agreement or the Subscription Receipt Certificates (except the due certification thereof) and the Subscription Receipt Agent shall in no respect be liable or answerable for the use made of the Subscription Receipt Certificates or any of them or of the consideration therefor except as otherwise specified herein. The certificate by or on behalf of the Subscription Receipt Agent on Subscription Receipt Certificates shall constitute a representation and warranty by the Subscription Receipt Agent that the said Subscription Receipt Certificates have been duly certified by or on behalf of the Subscription Receipt Agent pursuant to the provisions of this Agreement.

Issue in Substitution for Subscription Receipt Certificates Lost, etc.

In case any of the Subscription Receipt Certificates shall become mutilated or be lost, destroyed or stolen, the Company, subject to applicable law and compliance with Section 2.9(b) below, shall issue and thereupon the Subscription Receipt Agent shall certify and deliver, a new Subscription Receipt Certificate of like tenor as the one mutilated, lost, destroyed or stolen in exchange for and in place of and upon cancellation of such mutilated Subscription Receipt Certificate, or in lieu of and in substitution for such lost, destroyed or stolen Subscription Receipt Certificate, and the substituted Subscription Receipt Certificate shall be in a form approved by the Subscription Receipt Agent and shall be entitled to the benefits hereof and shall rank equally in accordance with its terms with all other Subscription Receipt Certificates issued or to be issued hereunder.

The applicant for the issue of a new Subscription Receipt Certificate pursuant to this Section 2.9 shall bear the cost of the issue thereof and in case of loss, destruction or theft shall, as a condition precedent to the issue thereof, furnish to the Company and to the Subscription Receipt Agent such evidence of ownership and of the loss, destruction or theft of the Subscription Receipt Certificate so lost, destroyed or stolen as shall be satisfactory to the Company and to the Subscription Receipt Agent each in their sole discretion, and such applicant shall also be required to furnish an indemnity or security in amount and form satisfactory to the Company and the Subscription Receipt Agent each in their sole discretion and shall pay the reasonable charges of the Company and the Subscription Receipt Agent in connection therewith.

Exchange of Subscription Receipt Certificates

Subscription Receipt Certificates may, upon compliance with the reasonable requirements of the Subscription Receipt Agent, be exchanged for another Subscription Receipt Certificate or Subscription Receipt Certificates entitling the holder thereof to, in the aggregate, the same number of Subscription Receipts as represented by the Subscription Receipt Certificates so exchanged.

Subscription Receipt Certificates may be surrendered for exchange only at the Designated Office of the Subscription Receipt Agent during regular business hours of the Subscription Receipt Agent.

Except as otherwise herein provided, the Subscription Receipt Agent may charge to the holder requesting an exchange a reasonable sum for each new Subscription Receipt Certificate issued in exchange for Subscription Receipt Certificate(s). Payment of such charges and reimbursement of the Subscription Receipt Agent or the Company for any and all stamp taxes or governmental or other charges required to be paid shall be made by such holder as a condition precedent to such exchange.

Transfer and Registration of Subscription Receipts

The Subscription Receipts may only be transferred on the register kept at the Designated Office of the Subscription Receipt Agent by the holder or its legal representatives or its attorney duly appointed by an instrument in writing. Upon surrender for registration of transfer of Subscription Receipts at the Designated Office of the Subscription Receipt Agent, the Company shall issue and thereupon the Subscription Receipt Agent shall certify and deliver a new Subscription Receipt Certificate of like tenor in the name of the designated transferee. If less than all the Subscription Receipts evidenced by the Subscription Receipt Certificate(s) so surrendered are transferred, the transferor shall be entitled to receive, in the same manner, a new Subscription Receipt Certificate registered in its name evidencing the Subscription Receipts not transferred. However, notwithstanding the foregoing, Subscription Receipts shall only be transferred upon:

payment to the Subscription Receipt Agent of a reasonable sum for each new Subscription Receipt Certificate issued upon such transfer, and reimbursement of the Subscription Receipt Agent or the Company for any and all stamp taxes or governmental or other charges required to be paid in respect of such transfer;

compliance with the legend set out in Section 2.12, and with the requirements set out in Section 2.12 for the removal of such legend, as the case may be; and

such reasonable requirements as the Subscription Receipt Agent may prescribe and as may be required by the terms of this Agreement, and all such transfers shall be duly noted in such register by the Subscription Receipt Agent.

The Company and the Subscription Receipt Agent will deem and treat the registered owner of any Subscription Receipt as the beneficial owner thereof for all purposes and neither the Company nor the Subscription Receipt Agent shall be affected by any notice to the contrary.

The transfer register in respect of Subscription Receipts shall be closed at 5:00 p.m. (Toronto time) at the Designated Office, on the Exchange Date. Trades settling after the Exchange Date will be completed by the delivery of Units.

The Subscription Receipt Agent will promptly advise the Company of any requested transfer of Subscription Receipts. The Company will be entitled, and may direct the Subscription Receipt Agent, to refuse to recognize any transfer, or enter the name of any transferee, of any Subscription Receipts on the registers referred to in this Article, if such transfer would constitute a violation of the securities laws of any jurisdiction or the rules, regulations or policies of any regulatory authority having jurisdiction, or would be contrary to the terms of this Agreement.

Subject to the provisions of this Agreement and applicable law, a Receiptholder shall be entitled to the rights and privileges attaching to the Subscription Receipts. The issue of the Underlying Common Shares and Warrants comprising the Units in accordance with the terms and conditions herein contained shall discharge all responsibilities of the Company and the Subscription Receipt Agent with respect to such Subscription Receipts, and neither the Company nor the Subscription Receipt Agent shall be bound to inquire into the title of a Receiptholder.

Legends

Each Subscription Receipts Certificate will bear, as of the Closing Date, the following legend substantially in the following form and with the necessary information inserted:

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE DECEMBER 18, 2009.

The parties hereby acknowledge and agree that the Subscription Receipts are “restricted securities” as defined in Rule 144 under the 1933 Act and may not be reoffered, or resold, pledged or otherwise transferred except: (i) to the Company; (ii) outside the United States in accordance with Rule 904 of Regulation S under the 1933 Act and in compliance with applicable Canadian and provincial laws and regulations; (iii) inside the United States in accordance with (A) the exemption from registration under the 1933 Act provided by Rule 144 thereunder, if available or (B) another exemption from the registration requirements of the 1933 Act and in compliance with applicable Canadian and provincial laws and regulations; or (iv) under an effective registration statement under the 1933 Act, and in each case in accordance with any applicable state securities laws in the United States or securities laws of any other applicable jurisdiction.

In addition to the legends provided for in Section 2.12(a) above, each Subscription Receipt Certificate and all certificates representing Underlying Common Shares and Warrants (and each Subscription Receipt Certificate or

Notwithstanding the foregoing, if the Subscription Receipts are being sold pursuant section (D) of the foregoing legend, the legend may be removed by delivery to the Company’s registrar and transfer agent and the Company of an opinion of counsel, of recognized standing in form and substance satisfactory to the Company, that such legend is no longer required under applicable requirements of the 1933 Act, as amended or state securities laws.

Issue of Underlying Common Shares and Warrants

On the Exchange Date, the Underlying Common Shares and Warrants shall be, and shall be deemed to be, automatically issued at the Issue Time to the Receiptholders, and each Receiptholder shall automatically receive, without the payment of any additional consideration, one Common Share and one-half of one Warrant for each Subscription Receipt held by such Receiptholder, and such Receiptholder shall be deemed to have become the holder of record of such Underlying Common Shares and Warrants at the Issue Time.

The certificates evidencing the Underlying Common Shares and Warrants issued in exchange for the Subscription Receipts issued under the Private Placement shall bear the following legend:

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”) OR ANY STATE SECURITIES LAWS. THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF THE CORPORATION THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY: (A) TO THE CORPORATION, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE U.S. SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN ACCORDANCE WITH RULE 905 OF REGULATION S UNDER THE U.S. SECURITIES ACT IF AVAILABLE, (D) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT PROVIDED BY RULE 144, IF AVAILABLE, AND IN COMPLIANCE WITH ANY STATE SECURITIES LAWS, OR (E) WITH THE PRIOR WRITTEN CONSENT OF THE CORPORATION, PURSUANT TO ANOTHER EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS; PROVIDED THAT, IN CONNECTION WITH A TRANSFER PURSUANT TO (C), (D) OR (E) ABOVE, AN OPINION OF COUNSEL, OF RECOGNIZED STANDING REASONABLY SATISFACTORY TO THE CORPORATION HAS BEEN PROVIDED TO THE CORPORATION TO SUCH EFFECT.

The foregoing legend may be removed by delivery to the Company’s registrar and transfer agent and the Company of an opinion of counsel, of recognized standing in form and substance satisfactory to the Company, that such legend is no longer required under applicable requirements of the 1933 Act or state securities laws

Effective immediately after the Underlying Common Shares and Warrants have been, or have been deemed to be, issued as contemplated by this Section 3.2, the Subscription Receipts relating thereto shall be void and of no value or effect.

General Covenants

The Company covenants with the Subscription Receipt Agent and the Agents that so long as any Subscription Receipts remain outstanding:

it will promptly comply with all filing and other requirements under all applicable Securities Laws, including where required by the Agency Agreement, the filing of amendments to the Prospectuses in each of the Designated Provinces;

The Company will use commercially reasonable efforts to ensure that there is available “adequate current public information” with respect to the Company within the meaning of Rule 144(c) under the 1933 Act commencing six months after the Closing Date and at all times thereafter when the registration statement referred to in Schedule “F” to the Subscription Agreement is not effective and up to date;

The Company will cause the Prospectuses and the Registration Statement and any other documents required to be filed therewith to be prepared and filed with the Securities Commission in each of the Designated Provinces in accordance with all applicable Securities Laws and as expeditiously as reasonably practicable after the Closing Date, in each case in form and substance reasonably satisfactory to the Agents;

The Company will use its commercially reasonable efforts to obtain receipts for the Prospectuses and the Registration Statement and to qualify the Underlying Common Shares and Warrants for distribution in the Designated Provinces to the holders of Subscription Receipts upon the exercise thereof;

Upon or prior to the exercise of the Subscription Receipts, the Company will cause the Final Prospectus to be delivered to each of the registered holders of Subscription Receipts or any transferees thereof;

it will announce by press release the occurrence of the Exchange Date in accordance with the provisions hereof;

it will perform and carry out all of the acts or things to be done by it as provided in this Agreement;

it will reserve and keep available a sufficient number of Common Shares for the purpose of enabling it to satisfy its obligations to issue Underlying Common Shares and Warrants Shares pursuant to the Subscription Receipts and Warrant Certificates;

it will cause the Underlying Common Shares and Warrants to be duly issued and delivered in accordance with the Subscription Receipts and the terms hereof; and

it will use its best efforts to ensure that the Underlying Common Shares and Warrant Shares, upon issuance, are listed and posted for trading on the TSX and the AMEX.

Subscription Receipt Agent’s Remuneration, Expenses and Indemnification

The Company covenants that it will pay to the Subscription Receipt Agent from time to time reasonable remuneration for its services hereunder and will pay or reimburse the Subscription Receipt Agent upon its request for all reasonable expenses, disbursements and advances incurred or made by the Subscription Receipt Agent in the administration or execution of this Agreement (including the reasonable compensation and the disbursements of its counsel and all other advisers and assistants not regularly in its employ) both before any default hereunder and thereafter until all duties of the Subscription Receipt Agent hereunder shall be finally and fully performed, except any such expense, disbursement or advance as may arise out of or result from the Subscription Receipt Agent’s negligence, willful misconduct or bad faith. Any amount owing hereunder and remaining unpaid after 30 days from the invoice date will bear interest at the then current rate charged by the Subscription Receipt Agent against unpaid invoices and shall be payable on demand.

The Company hereby indemnifies and saves harmless the Subscription Receipt Agent and its officers, directors, employees and agents from and against any and all liabilities, losses, costs, claims, actions or demands whatsoever which may be brought against the Subscription Receipt Agent or which it may suffer or incur as a result or arising out of the performance of its duties and obligations under this Agreement, save only in the event of the negligence, willful misconduct or bad faith of the Subscription Receipt Agent. It is understood and agreed that this indemnification shall survive the termination or the discharge of this Agreement or the resignation or replacement of the Subscription Receipt Agent.

If, at any time after the issuance of the Subscription Receipts and before the Exchange Date, the Company:

subdivides its outstanding Common Shares into a greater number of Common Shares, or

consolidates its outstanding Common Shares into a lesser number of Common Shares,

(any of such events in Sections (i) and (ii) being a “Common Share Reorganization”), then the number of Underlying Common Shares and Warrants with respect to each Subscription Receipt will be adjusted as of the record date at which the holders of Common Shares and Warrants are determined for the purpose of the Common Share Reorganization by multiplying the number of Underlying Common Shares obtainable immediately prior to such record date by a fraction, the numerator of which will be the number of Common Shares outstanding on the record date after giving effect to such Common Share Reorganization and the denominator of which will be the number of Common Shares outstanding on the record date before giving effect to such Common Share Reorganization.

If, at any time after the issuance of the Subscription Receipts and before the Exchange Date, there is a reclassification of Common Shares at any time outstanding or a change of the Common Shares into other securities or property (other than a Common Share Reorganization), or a consolidation, amalgamation, arrangement or merger of the Company with or into any corporation or other entity (other than a consolidation, amalgamation, arrangement or merger that does not result in any reclassification of the outstanding Common Shares or a change of the Common Shares into other securities or property), or a transfer of the undertakings or assets of the Company as an entirety or substantially as an entirety to another entity, or a record date for any of the foregoing events occurs, (any of such events being a “Capital Reorganization”), any holder entitled to acquire Underlying Common Shares and Warrants after the record date or effective date of such Capital Reorganization will be entitled to receive, and shall accept in lieu of the number of Underlying Common Shares and Warrants to which such holder was theretofore entitled, the aggregate number of other securities or other property which such holder would have been entitled to receive as a result of such Capital Reorganization if, on the effective date of such Capital Reorganization, the holder had been the registered holder of the number of Underlying Common Shares and Warrants to which such holder was then entitled with respect to the Subscription Receipts subject to adjustment thereafter in accordance with provisions the same, as nearly as may be possible, as those contained in Section 5.2, provided however, that no such Capital Reorganization will be carried into effect unless all necessary steps have been taken to so entitle the holders. If determined appropriate by the Company, acting reasonably, appropriate adjustments will be made as a result of any such Capital Reorganization in the application of the provisions set forth in this Article 5 with respect to the rights and interests thereafter of the holders to the end that the provisions set forth in this Article 5 will thereafter correspondingly be made applicable as nearly as may be reasonable in relation to any other securities or other property thereafter deliverable upon the exercise of any Subscription Receipt. Any such adjustments will be made by and set forth in terms and conditions supplemental to this agreement approved by the Company, acting reasonably and absent manifest error, and will for all purposes be conclusively deemed to be the appropriate adjustment.

If at any time after the issuance of the Subscription Receipts and prior to the Exchange Date, the Company issues or distributes to the holders of all or substantially all of the outstanding Common Shares, cash or securities of the Company, including rights, options or warrants to acquire Common Shares or securities convertible into or exchangeable for Common Shares or property or assets, including evidences of indebtedness, other than as a result of a Common Share Reorganization or a Capital Reorganization, or a record date for any of the foregoing events occurs, the holders will be entitled to receive, and will receive, in addition to the number of Underlying Common Shares and Warrants to which such holder was theretofore entitled, the kind and amount of Common Shares, cash or other securities or property or assets which result from such issue or distribution as if, on the record date at which holders of Common Shares are determined for the purpose of such distribution, such holder had been the registered holder of the number of Underlying Common Shares and Warrants to which the holder was theretofore entitled. Any such transfer will be subject to approval of the TSX and AMEX, if required.

The adjustments provided for in this Section 5.2 are cumulative and shall apply to successive subdivisions, consolidations, changes, distributions, issues or other events resulting in any adjustment under the provisions of this Section 5.2.

In case the Company, after the date hereof, shall take any action affecting the Common Shares, other than the actions described in this Section 5.2, which, in the reasonable opinion of the Subscription Receipt Agent, would materially affect the rights of the Receiptholders and/or the rights attaching to the Subscription Receipts, then the number of Underlying Common Shares and Warrants which are to be received pursuant to the Subscription Receipts shall be adjusted in such manner, if any, and at such time as the Subscription Receipt Agent may, in its direction, reasonably determine to be equitable to the Receiptholders in such circumstances.

the setting of the record date for a meeting of holders of Subscription Receipts for the purpose of determining Receiptholders entitled to receive notice of and vote at such meeting;

the issue of voting certificates by any bank, trust company or other depositary satisfactory to the Subscription Receipt Agent stating that the Subscription Receipt Certificates specified therein have been deposited with it by a named person and will remain on deposit until after the meeting, which voting certificate shall entitle the persons named therein to be present and vote at any such meeting and at any adjournment thereof or to appoint a proxy or proxies to represent them and vote for them at any such meeting and at any adjournment thereof in the same manner and with the same effect as though the persons so named in such voting certificates were the actual holders of the Subscription Receipt Certificates specified therein;

the deposit of voting certificates and instruments appointing proxies at such place and time as the Subscription Receipt Agent, the Company or the Receiptholders, convening the meeting, as the case may be, may in the notice convening the meeting direct;

the deposit of voting certificates and instruments appointing proxies at some approved place or places other than the place at which the meeting is to be held and enabling particulars of such instruments appointing proxies to be mailed or telecopied before the meeting to the Company or to the Subscription Receipt Agent at the place where the same is to be held and for the voting of proxies so deposited as though the instruments themselves were produced at the meeting;

the form of the instrument of proxy and the manner in which the instrument of proxy must be executed; and

generally for the calling of meetings of Receiptholders and the conduct of business thereat.

to agree to any modification, abrogation, alteration, compromise or arrangement of the rights of Receiptholders or, subject to the consent of the Subscription Receipt Agent, the Subscription Receipt Agent, against the Company or against its undertaking, property and assets or any part thereof whether such rights arise under this Agreement or the Subscription Receipt Certificates or otherwise;

to amend, alter or repeal any special resolution previously passed or sanctioned by the Receiptholders;

to direct or to authorize the Subscription Receipt Agent to enforce any of the covenants on the part of the Company contained in this Agreement or the Subscription Receipt Certificates or to enforce any of the rights of the Receiptholders in any manner specified in such special resolution or to refrain from enforcing any such covenant or right;

to waive, and to direct the Subscription Receipt Agent to waive, any default on the part of the Company in complying with any provisions of this Agreement or the Subscription Receipt Certificates either unconditionally or upon any conditions specified in such special resolution;

to restrain any Receiptholder from taking or instituting any suit, action or proceeding against the Company for the enforcement of any of the covenants on the part of the Company in this Agreement or the Subscription Receipt Certificates or to enforce any of the rights of the Receiptholders;

to direct any Receiptholder who, as such, has brought any suit, action or proceeding to stay or to discontinue or otherwise to deal with the same upon payment of the costs, charges and expenses reasonably and properly incurred by such Receiptholder in connection therewith;

to assent to any modification of, change in or omission from the provisions contained in the Subscription Receipt Certificates and this Agreement or any ancillary or supplemental instrument which may be agreed to by the Company, and to authorize the Subscription Receipt Agent to concur in and execute any ancillary or supplemental agreement embodying the change or omission;

with the consent of the Company (such consent not to be unreasonably withheld), to remove the Subscription Receipt Agent or its successor in office and to appoint a new subscription receipt agent to take the place of the Subscription Receipt Agent so removed; and

to assent to any compromise or arrangement with any creditor or creditors or any class or classes of creditors, whether secured or otherwise, and with holders of any Common Shares or other securities of the Company.

Meaning of Special Resolution

The expression “special resolution” when used in this Agreement means, subject as hereinafter provided in this Section 7.11 and in Section 7.14, a resolution proposed at a meeting of Receiptholders duly convened for that purpose and held in accordance with the provisions of this Article 7 at which two or more Receiptholders are present in person either holding personally or representing as proxies not less in aggregate than 25% of the number of Subscription Receipts then outstanding and passed by the affirmative votes of Receiptholders holding more than 66²/₃% of the Subscription Receipts represented at the meeting and voted on a poll upon such resolution.

Notwithstanding Section 7.11(a), if, at any meeting called for the purpose of passing a special resolution, at least two Receiptholders holding not less in aggregate than 25% of the then outstanding Subscription Receipts are not present in person or by proxy within 30 minutes after the time appointed for the meeting, then the meeting, if convened by Receiptholders or on a Receiptholders’ Request, shall be dissolved; but in any other case it shall stand adjourned to such day, being not less than 21 nor more than 60 days later, and to such place and time as may be determined by the chairperson. Not less than 10 days’ prior notice shall be given of the time and place of such adjourned meeting in the manner provided for in Section 10.2. It shall not be necessary for such notice to set forth the purposes for which the meeting was originally called or any other particulars. At the adjourned meeting:

if the special resolution purports to exercise any of the powers conferred pursuant to Sections 7.10(a), 7.10(d) or 7.10(i), or purports to change the provisions of this Section 7.11 or of Section 7.14 or purports to amend, alter or repeal any special resolution previously passed or sanctioned by the Receiptholders in exercise of the powers referred to in this paragraph, a quorum for the transaction of business shall consist of Receiptholders holding more than 25% of the then outstanding Subscription Receipts present in person or by proxy; and

At any such adjourned meeting, any resolution passed by the requisite votes as provided in Section 7.11(b) shall be a special resolution within the meaning of this Agreement notwithstanding that Receiptholders holding more than 25% of the then outstanding Subscription Receipts are not present in person or by proxy at such adjourned meeting.

Votes on a special resolution shall always be given on a poll and no demand for a poll on a special resolution shall be necessary.

adding to the provisions hereof such additional covenants and enforcement provisions as, in the opinion of counsel, are necessary or advisable in the premises, provided that the same are not in the opinion of the Subscription Receipt Agent relying on counsel, prejudicial to the interests of the Receiptholders;

giving effect to any special resolution passed as provided in Article 7;

making such provisions not inconsistent with this Agreement as may be necessary or desirable with respect to matters or questions arising hereunder, provided that such provisions are not, in the opinion of the Subscription Receipt Agent, relying on counsel, prejudicial to the interests of the Receiptholders;

adding to or altering the provisions hereof in respect of the transfer of Subscription Receipts, making provision for the exchange of Subscription Receipt Certificates, and making any modification in the form of the Subscription Receipt Certificates which does not affect the substance thereof;

modifying any of the provisions of this Agreement, including relieving the Company from any of the obligations, conditions or restrictions herein contained, provided that such modification or relief shall be or become operative or effective only if, in the opinion of the Subscription Receipt Agent relying on counsel, such modification or relief in no way prejudices any of the rights of the Receiptholders or of the Subscription Receipt Agent, and provided further that the Subscription Receipt Agent may in its sole discretion decline to enter into any such supplemental agreement which in its opinion may not afford adequate protection to the Subscription Receipt Agent when the same shall become operative; and

for any other purpose not inconsistent with the terms of this Agreement, including the correction or rectification of any ambiguities, defective or inconsistent provisions, errors, mistakes or omissions herein, provided that in the opinion of the Subscription Receipt Agent the rights of the Subscription Receipt Agent and of the Receiptholders are in no way prejudiced thereby.

Rights and Duties of Subscription Receipt Agent

In the exercise of the rights and duties prescribed or conferred by the terms of this Agreement, the Subscription Receipt Agent shall exercise that degree of care, diligence and skill that a reasonably prudent subscription receipt agent would exercise in comparable circumstances. No provision of this Agreement shall be construed to relieve the Subscription Receipt Agent from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct or bad faith.

The obligation of the Subscription Receipt Agent to commence or continue any act, action or proceeding for the purpose of enforcing any rights of the Subscription Receipt Agent or the Receiptholders hereunder shall be conditional upon the Receiptholders furnishing, when required by notice by the Subscription Receipt Agent, sufficient funds to commence or to continue such act, action or proceeding and an indemnity reasonably satisfactory to the Subscription Receipt Agent to protect and to hold harmless the Subscription Receipt Agent against the costs, charges and expenses and liabilities to be incurred thereby and any loss and damage it may suffer by reason thereof. None of the provisions contained in this Agreement shall require the Subscription Receipt Agent to expend or to risk its own funds or otherwise to incur financial liability in the performance of any of its duties or in the exercise of any of its rights or powers unless indemnified as aforesaid.

The Subscription Receipt Agent may, before commencing or at any time during the continuance of any such act, action or proceeding, require the Receiptholders at whose instance it is acting to deposit with the Subscription Receipt Agent the Subscription Receipts held by them, for which Subscription Receipts the Subscription Receipt Agent shall issue receipts.

Every provision of this Agreement that by its terms relieves the Subscription Receipt Agent of liability or entitles it to rely upon any evidence submitted to it is subject to the provisions of this Section 9.1.

The Subscription Receipt Agent shall have no duties except those expressly set forth herein, and it shall not be bound by any notice of a claim or demand with respect to, or any waiver, modification, amendment, termination or rescission of, this Agreement, unless received by it in writing and signed by the other parties hereto and, if its duties herein are affected, unless it shall have given its prior written consent thereto.

The Subscription Receipt Agent shall not be responsible for ensuring that the Proceeds are used in the manner contemplated by the Prospectus.

The Subscription Receipt Agent shall retain the right not to act and shall not be held liable for refusing to act unless it has received clear and reasonable documentation which complies with the terms of this Agreement, which documentation does not require the exercise of any discretion or independent judgment.

The Subscription Receipt Agent shall incur no liability whatsoever with respect to the delivery or non-delivery of any certificates whether delivered by hand, mail or any other means.

The Subscription Receipt Agent shall not be responsible or liable in any manner whatsoever for the deficiency, correctness, genuineness or validity of any securities deposited with it.

the Subscription Receipt Agent shall not be liable for or by reason of any statements of fact or recitals in this Agreement or in the Subscription Receipt Certificates (except the representation contained in Section 9.6 or in the certificate of the Subscription Receipt Agent on the Subscription Receipt Certificates) or be required to verify the same, but all such statements or recitals are and shall be deemed to be made by the Company;

nothing herein contained shall impose any obligation on the Subscription Receipt Agent to see to or to require evidence of the registration or filing (or renewal thereof) of this Agreement or any instrument ancillary or supplemental hereto;

the Subscription Receipt Agent shall not be bound to give notice to any person or persons of the execution hereof;

the Subscription Receipt Agent shall not incur any liability or responsibility whatever or be in any way responsible for the consequence of any breach on the part of the Company of any of the covenants herein contained or of any acts of any officers, employees, agents or servants of the Company; and

the Company shall indemnify and save harmless the Subscription Receipt Agent and its officers, directors, employees and agents from and against any and all liabilities, losses, costs, claims, actions or demands whatsoever brought against the Subscription Receipt Agent which it may suffer or incur as a result of or arising out of the performance of its duties and obligations under this Agreement, including any and all legal fees and disbursements of whatever kind or nature, save only in the event of the negligent action, the negligent failure to act, or the willful misconduct or bad faith of the Subscription Receipt Agent. It is understood and agreed that this indemnification shall survive the termination or discharge of this Agreement or the resignation or removal of the Subscription Receipt Agent.

Replacement of Subscription Receipt Agent; Successor by Merger

The Subscription Receipt Agent may resign its appointment and be discharged from all other duties and liabilities hereunder, subject to this Section 9.5, by giving to the Company not less than 30 days prior notice in writing or such shorter prior notice as the Company may accept as sufficient. The Receiptholders by special resolution shall have power at any time to remove the existing Subscription Receipt Agent and to appoint a new subscription receipt agent. In the event of the Subscription Receipt Agent resigning or being removed as aforesaid or being dissolved, becoming bankrupt, going into liquidation or otherwise becoming incapable of acting hereunder, the Agents shall forthwith appoint a new subscription receipt agent unless a new subscription receipt agent has already been appointed by the Receiptholders; but any new subscription receipt agent so appointed by the Agents or by the Court shall be subject to removal as aforesaid by the Receiptholders. Any new subscription receipt agent appointed under any provision of this Section 9.5 shall be a corporation authorized to carry on the business of a trust company in the Province of British Columbia and, if required by the applicable legislation for any other provinces, in such other provinces. On any such appointment the new subscription receipt agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as Subscription Receipt Agent hereunder. At the request of the Company or the new subscription receipt agent, the retiring Subscription Receipt Agent shall duly assign, transfer and deliver to the new subscription receipt agent all property and money held and all records kept by the retiring Subscription Receipt Agent hereunder or in connection herewith.

Upon the appointment of a successor subscription receipt agent, the Company shall promptly notify the Receiptholders thereof in the manner provided for in Article 10 hereof.

Any corporation into or with which the Subscription Receipt Agent may be merged or consolidated or amalgamated, or any corporation resulting therefrom to which the Subscription Receipt Agent shall be a party, or any corporation succeeding to the corporate trust business of the Subscription Receipt Agent shall be the successor to the Subscription Receipt Agent hereunder without any further act on its part or any of the parties hereto, provided that such corporation would be eligible for appointment as a successor subscription receipt agent under Section 9.5(a).

Any Subscription Receipt Certificate certified but not delivered by a predecessor Subscription Receipt Agent may be delivered by the successor subscription receipt agent in the name of the predecessor or successor Subscription Receipt Agent.

Conflict of Interest

The Subscription Receipt Agent represents to the Company and the Agents that at the time of execution and delivery hereof no material conflict of interest exists between its role as a subscription receipt agent hereunder and its role in any other capacity and agrees that in the event of a material conflict of interest arising hereafter it will, within 90 days after ascertaining that it has such material conflict of interest, either eliminate the same or assign its appointment as Subscription Receipt Agent hereunder to a successor subscription receipt agent approved by the Company and meeting the requirements set forth in Section 9.5(a). Notwithstanding the foregoing provisions of this Section 9.6(a), if any such material conflict of interest exists or hereafter shall exist, the validity and enforceability of this Agreement and the Subscription Receipts shall not be affected in any manner whatsoever by reason thereof.

Subject to Section 9.6(a), the Subscription Receipt Agent, in its personal or any other capacity, may buy, lend upon and deal in securities of the Company and generally may contract and enter into financial transactions with the Company or any affiliated entity of the Company without being liable to account for any profit made thereby.

Acceptance of Appointment

to provide the services required under this Agreement and other services that may be requested from time to time;

to help the Subscription Receipt Agent manage its servicing relationships with such individuals; and

to meet the Subscription Receipt Agent’s legal and regulatory requirements;

Notice to the Company and Subscription Receipt Agent and the Agents

Unless herein otherwise expressly provided, any notice to be given hereunder to the Company, the Agents or the Subscription Receipt Agent shall be deemed to be validly given if delivered by hand courier or if transmitted by facsimile:

if to the Company:

U.S. Geothermal Inc.
1505 Tyrell Lane
Boise, ID USA

The Company, either of the Agents or the Subscription Receipt Agent, as the case may be, may from time to time notify the other parties to this Agreement in the manner provided in Section 10.1(a) of a change of address which, from the effective date of such notice and until changed by like notice, shall be the address of the Company, the Agents or the Subscription Receipt Agent, as the case may be, for all purposes of this Agreement.

Notice to Receiptholders

Any notice to the Receiptholders under the provisions of this Agreement shall be valid and effective if delivered or sent by letter or circular through the ordinary post addressed to such holders at their post office addresses appearing on the register hereinbefore mentioned and shall be deemed to have been effectively given on the date of delivery or, if mailed, five Business Days following actual posting of the notice.

If, by reason of a strike, lockout or other work stoppage, actual or threatened, involving postal employees, any notice to be given to the Receiptholders hereunder could reasonably be considered unlikely to reach its destination, such notice shall be valid and effective only if it is delivered personally to such Receiptholders or if delivered to the address for such Receiptholders contained in the register of Subscription Receipts maintained by the Subscription Receipt Agent.

All notices to joint holders of any Subscription Receipt may be given to whichever one of the holders thereof is named first in the appropriate register hereinbefore mentioned, and any notice so given shall be sufficient notice to all such joint holders of the Subscription Receipt.

Evidence of Ownership

Upon receipt of a certificate of any bank, trust company or other depositary satisfactory to the Subscription Receipt Agent stating that the Subscription Receipts specified therein have been deposited by a named person with such bank, trust company or other depositary and will remain so deposited until the expiry of the period specified therein, the Company and the Subscription Receipt Agent may treat the person so named as the owner, and such certificate as sufficient evidence of the ownership by such person of such Subscription Receipt during such period, for the purpose of any requisition, direction, consent, instrument or other document to be made, signed or given by the holder of the Subscription Receipt so deposited.

The Company and the Subscription Receipt Agent may accept as sufficient evidence of the fact and date of the signing of any requisition, direction, consent, instrument or other document by any person (i) the signature of any officer of any bank, trust company, or other depositary satisfactory to the Subscription Receipt Agent as witness of such execution, (ii) the certificate of any notary public or other officer authorized to take acknowledgements of deeds to be recorded at the place where such certificate is made that the person signing acknowledged to him the execution thereof, or (iii) a statutory declaration of a witness of such execution.

hSubscription Receipts

AGF Canadian Small Cap

Bershaw & Co
A/C 6015831001
123 Front St. West (18th FL)
Toronto, ON M5J 2M3

Bershaw & Co
A/C 6015831001
123 Front St. West (18th FL) Toronto, ON M5J 2M3 Contact: Mohammad Satar Tel: 416-947-4113

AGF Canadian Stock Fund

Bershaw & Co
A/C 6015782001
123 Front St. West (18th FL)
Toronto, ON M5J 2M3

Bershaw & Co
A/C 6015782001
123 Front St. West (18th FL) Toronto, ON M5J 2M3 Contact: Mohammad Satar Tel: 416-947-4113

AGF Canada Fund

Bershaw & Co
A/C 6016712001
123 Front St. West (18th FL)
Toronto, ON M5J 2M3

Bershaw & Co
A/C 6016712001
123 Front St. West (18th FL)
Toronto, ON M5J 2M3
Contact: Mohammad Satar
Tel: 416-947-4113

AGF Canada Class

Bershaw & Co
A/C 6015779001
123 Front St. West (18th FL)
Toronto, ON M5J 2M3

Bershaw & Co
A/C 6015779001
123 Front St. West (18th FL)
Toronto, ON M5J 2M3
Contact: Mohammad Satar
Tel: 416-947-4113

Apex Balanced Fund

Brant Investments Ltd.
A/C 121531001
RBC Dexia Investor Services
155 Wellington St. W.
2nd Floor Cage - Section X
Toronto, ON M5V 3L3

Brant Investments Ltd.
A/C 121531001
RBC Dexia Investor Services
155 Wellington St. W.
2nd Floor Cage - Section X
Toronto, ON M5V 3L3
Contact: Sarah Sinclair
Tel: 416-955-3219

Apex Canadian Growth Fund

Brant Investments Ltd.
A/C 121531002
RBC Dexia Investor Services
155 Wellington St. W.
2nd Floor Cage - Section X
Toronto, ON M5V 3L3

Brant Investments Ltd.
A/C 121531002RBC
Dexia Investor Services
155 Wellington St.
W.2nd Floor Cage - Section
XToronto, ON M5V 3L3
Contact: Sarah Sinclair
Tel: 416-955-3219

IG AGF Canadian Growth Fund

Jayvee & Co
A/C INVF0042002
P.O. Box 611
Commerce Court Postal Station
199 Bay St.
Toronto, ON M5L 1L7

Jayvee & Co
A/C INVF0042002
P.O. Box 611
Commerce Court Postal Station
199 Bay St.
Toronto, ON M5L 1L7
Contact: Jeffrin Mahendram
Tel: 416-643-3240

IG AGF Canadian Growth CL

Jayvee & Co
A/C ITAF0014002
P.O. Box 611
Commerce Court Postal Station
199 Bay St.
Toronto, ON M5L 1L7

Jayvee & Co
A/C ITAF0014002
P.O. Box 611
Commerce Court Postal Station
199 Bay St.
Toronto, ON M5L 1L7
Contact: Jeffrin Mahendram
Tel: 416-643-3240

Keystone Equity Fund

Jayvee & Co
A/C MFYF7020002
P.O. Box 611
Commerce Court Postal Station
199 Bay St.
Toronto, ON M5L 1L7

Jayvee & Co
A/C MFYF7020002
P.O. Box 611
Commerce Court Postal Station
199 Bay St.
Toronto, ON M5L 1L7
Contact: Jeffrin Mahendram
Tel: 416-643-3240

Scotia Cassels Investment Counsel Ltd. as Agent for the Scotia Canadian Small Cap Fund

BANSCO & CO
Re: Scotia Canadian Small
Cap Fund
40 King St. W.
Securities Sub Basement
Toronto, ON M5H 1H1

Bank of Nova Scotia c/o I.SS. Securities Re: Scotia Canadian Small Cap Fund
40 King St. W. Sub Basement
Toronto, ON M5H 1H1
Contact: Rabeena
Tel: 416-945-4389

Front Street Investment Management Inc.

NBCN Inc.
ITF: Front Street Capital
A/C 26AA13V
130 King St. West,
Suite 3000
Toronto, ON M5X 1J9

NBCN Inc.
ITF: Front Street Capital
A/C 26AA13V
130 King St. West,
Suite 3000
Toronto, ON M5X 1J9
Contact: Diane Gosse

Front Street Investment Management Inc.

NBCN Inc.
ITF: Front Street Capital
A/C 26AA11V
130 King St. West,
Suite 3000
Toronto, ON M5X 1J9

NBCN Inc.
ITF: Front Street Capital
A/C 26AA11V
130 King St. West,
Suite 3000
Toronto, ON M5X 1J9
Contact: Diane Gosse

Front Street Investment Management Inc.

NBCN Inc.
ITF: Front Street Capital
A/C 26AA14V
130 King St. West,
Suite 3000
Toronto, ON M5X 1J9

NBCN Inc.
ITF: Front Street Capital
A/C 26AA14V
130 King St. West,
Suite 3000
Toronto, ON M5X 1J9
Contact: Diane Gosse

Creststreet Mutual Funds Limited

NBCN Clearing Inc.
ITF: Crestsreet Mutual Funds Limited
A/C 294Q30E
130 King St. West,
Suite 3000, P.O. Box 21
Toronto, ON M5X 1J9

NBCN Clearing Inc.
A/C 294Q30E
130 King St. West,
Suite 3000,
P.O. Box 21
Toronto, ON M5X 1J9
Contact: Neila Augilar
Tel: 416-869-3707

Wirth Associates Inc.

The Canada Trust _Company
A/C 5211343
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust _Company
A/C 5211311
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust _Company
A/C 5211510
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust _Company
A/C 5211047
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211306
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211238
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211221
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211043
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211581
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211324
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211093
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

The Canada Trust Company
A/C 5211161
77 Bloor St. W., 3F
Toronto, ON M5S 1M2

TD Waterhouse Private Trust
77 Bloor St. W., 3F
Toronto, ON M5S 1M2
Contact: Laura Ng
Tel: 416-413-3182

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A 
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Wirth Associates Inc.

Investor Company
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2

TD Waterhouse Institutional Services
A/C 6YB600A
77 Bloor St. W., 3FL
Toronto, ON M5S 1M2
Contact: Michelle Vereeken
Tel: 416-413-3365

Gordon Clements

Dundee Securities Corp.
I/T D.G. Clements Account: 5F0386-EN
1 Adelaide St East Suite 2700
Toronto ON M5C 2V9

Dundee Securities Corp. I/T D.G. Clements
Account: 5F0386-EN 1 Adelaide St East Suite 2700
Toronto ON M5C 2V9
Attn: P Quesada
Tel: 416-840-8175

Mike Jaksic

Dundee Securities Corp.
ITF Mike Jaksic
Account: 448210LN
1 Adelaide St East
Suite 2700
Toronto ON M5C 2V9

Dundee Securities
Account: 448210LN
1 Adelaide St East
Suite 2700
Toronto ON M5C 2V9
Contact: Patricia Queseda
Tel: 416-840-8175

Exploration Capital Partners 2005 Limited Partnership

Exploration Capital Partners
2005 Limited Partnership
7770 El Camino Real
Carlsbad, CA 92009
USA

Exploration Capital Partners
2005 Limited Partnership
7770 El Camino Real
Carlsbad,
CA 92009
USA

Middlemarch Partners Limited

Brant Investments Limited
A/C 108483239 Securities Cage
155 Wellington Street West
2nd Floor
Toronto, ON M5V 3L3

RBC Dexia Investor Services
A/C 108483239
Securities Cage
155 Wellington Street West
2nd Floor
Toronto, ON M5V 3L3
Contact: Tim Beng Cheah
Tel: 416-974-7219

Mariel International Limited

Haywood Securities Inc.
ITF Bolder Investment Partners Ltd.
2000-400 Burrard St.
Vancouver, BC V6C 3A6

Haywood Securities Inc.
ITF Bolder Investment Partners Ltd.
2000-400 Burrard St.
Vancouver, BC V6C 3A6

Cranshire Capital, L.P.

Cranshire Capital, L.P.
3100 Dundee Road,
Suite 703
Northbrook, IL 60062
USA

President – Downsview Capital, Inc.
The General Partner
3100 Dundee Road, Suite 703
Northbrook, IL 60062 USA
Contact: Mitchell Kopin
Tel: 847-562-9030