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| Shares Outstanding: | 50,869,109** |
| Warrants: | 22,927,489 @ $0.38 - $0.60 |
| Options: | 4,212,500 |
| Fully Diluted: | 77,999,178 |
| Ownership: | 40% of the issued and outstanding shares by Federals Silver, Pinetree Capital Ltd., Directors and Officers and Sprott Asset Management L.P. (as at May 10, 2012). |
As of December 31, 2012
** On 28 February 2010 the Company held a total of 14,031,000 shares in escrow. Ten percent of the total were released and free trading on 9 March 2010, and an additional fifteen percent are to be released every 6 months thereafter. As at 31 December 2012 there were 2, 104,650 shares held in escrow.
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