400m share issue as by prospectus

There will be a truck load of shares on issue as per prospectus.

•The Shareholders Meeting approving the Recapitalisation Proposal was held on 12 September 2007 and
the Company was released from Administration on 17 April 2008. The Company has retained its
interest in the Polar Bear Tenements and Royalties as unencumbered assets of the Company to enable
the Company to be reinstated to trading on the ASX.
•On 30 April 2008, pursuant to the approvals given at the Shareholders Meeting, the Company issued the
following Shares and Options without a prospectus pursuant to the exceptions set out in section 708 of
the Corporations Act:
1. 140,000,000 Shares at an issue price of 0.25 cents per Share to raise $350,000.
2. 279,500,000 Shares at an issue price of 1 cent per Share to raise $2,795,000.
3. 50,000,000 Options, each to acquire one Share, at an issue price of 0.00002 cents per Option to
raise $1,000.
•The Company proposes to continue the existing activities of the Company, increase the current
activities and pursue new projects by way of acquisition or investment.
•An investment in securities the subject of this Prospectus is highly speculative as a result of the nature