Ann: Drilling Underway on Botswana Uranium Projec, page-13

re: Ann: Drilling Underway on Botswana Uraniu... John,

my understanding is that IPT do not have the coal rights over any of it's tenements but they do have base metal rights over some. However if they were to make a coal discovery they could invoke discoverer rights. This may or may not be successful as other interested parties could also stake claims.

The main game imo has not changed. Discovery of a world class uranium resource could well be within reach for ipt. This is what I believe will launch ipt to the stars. We should hopefully get a very good idea of this during the current drilling program as 50% of this program is targeting proterzoic formations.