Ann: Mining and Development License Issued for Sh, page-8

re: Ann: Mining and Development License Issue... Certainly credit needs to go to Mr Ross. Management has worked hard to achieve milestones to date, even up until Xmas. Capital management has also been excellent. This is probably one of the few companies that i have invested in that made their cash last this long while producing a DFS and on-going exploration. Proof of this is in the strong register of only 228m shares.

In terms of licensing and permitting, this is an incredible step forward. Generally these take a long time but things have certainly sped up in the Kyrgyz republic. Looks like the formation of SAGNR and appointment of competent officials have made it easier for mines to be set up. A real sign of change in this country.