Ann: COMPANY UPDATE - MANAGEMENT Q&A, page-15

10. You mentioned corporate cost-cutting has been a big focus since your appointment – can you
provide some details on changes to Board and management team remuneration?

Yes – for the new team it’s all about production and delivering on our targets. If we don't produce our
respective targets whether they be 1,000, 1,500, 2,000 and 5,000 ounces per month, we don't get paid. It's
fairly simple. My annual salary is $A100,000 and my Chairman Joe Pinto is taking no salary, the Board is
the same and our COO draws only US$80,000.