Ann: Minim Martap Project Update, page-5

Canyon’s ManagingDirector Mr Phillip Gallagher commented:
“We are delighted that the granting of the extensions of theMakan and Ngaoundal exploration
permits removes the uncertainty created by the actions of Sonamines and CREC5.We would like to
publicly acknowledge the swift action of the Minister in addressing the issue, it gives investors great
confidence that the State of Cameroon acts swiftly and in the manner whichensures its laws are
respected.”
“We are also pleased to have recently received the signaturesofover15relevant Ministries in
Cameroon approving the terms of the negotiated Mining Conventionfor the Minim Martap Permit