Ann: Bunyu Development Funding Update, page-54

Hi Bruce

As a Shareholder, I am also disappointed that the Company has not yet announced that it has secured the $40M it requires for Stage 1 Production.

Many of the above points you raise above are true; but I do take exception with one point you state..."The company does not know how it is going to raise that funding".

That point is simply not true.

How do I know?

Because I have spoken with Trevor Matthews and he has assured me that the company is substantially down the track with a number of serious Funding Options. I have always found TM to be very approachable and utterly honest with his comments.

I believe discussions are still very active with the TZ authorities....but this is by no means VRC's only funding option.

Trevor is currently overseas and securing the $40M Funding is his number one objective.

I believe VRC will get the necessary Funding....but if you don't have the same confidence Bruce, I suggest you sell your VRC shares.

DYOR.