We are pleased to provide you with an update on our Gold River facility operations:

We are working diligently to ensure the sustainability of our on-site water resources. We have partnered with Waterline Resources and Red Williams Well Drilling to conduct a pump test on our saltwater well. This test will confirm the size of the saltwater aquifer and ensure that the removal of water from this aquifer will not interfere with the fresh water aquifer above it. The results of this test will be included in a report that will be submitted to the Provincial government to support our application for a permit to use groundwater.

We are also in the process of negotiating with several investment groups to close the development capital round. This round of funding will be used to engage an engineering firm to complete detailed engineering work and to build a project management plan that will include finalizing equipment providers and building schedules. We are also working to formalize a long-term relationship with the landowners. We have had many meetings with potential project-level capital partners, and the responses have been enthusiastic. Our goal is to be “shovel-ready” for this level of financing to be confirmed.

We have successfully secured a framework agreement for debt financing with a reputable UK-based firm, and this milestone provides us the financial confidence to push forward with the development of term sheets from private equity groups.  On that note, we are actively engaged in due diligence with two investment houses; one in the UK, while the other is from Toronto, Canada.

To effectively communicate our vision and achievements, we have partnered with Strategies 360, a trusted Canadian corporate communications team. Their expertise will ensure our messaging accurately reflects our values and resonates with our stakeholders and other interested parties.

We are proud to say that we have had several discussions with First Nations regarding investment in the Gold River enterprise, as well as other sites. We are under a non-disclosure agreement and are unable to disclose further information at this time.

In addition, we are pursuing government funding from both Federal and Provincial departments, and have forwarded information packages to many Ministers, as well as local, regional and interested MP’s and MLA’s. We are optimistic that these efforts will yield positive results for our facility.

We thank you for your continued support and look forward to updating you on our progress in the near future.