Ann: Notice of Extraordinary General Meeting/Proxy Form, page-9

"On a net attributable basis, SRK values Sundance’s 90% interest in the Mbalam tenure at between US$6.3 million and US$10.0 million, with a preferred value of US$8.6 million. On a net attributable basis, SRK values Sundance’s 85% interest in the Nabeba-Bamegod tenure at between US$15.3 million and US$29.8million, with a preferred value of US$22.1million. In assigning its valuation range and preferred value, SRK is mindful that the valuation range is also indicative of the uncertainty associated with advanced stage exploration/ development assets. "