Resource Opportunities

• Macallum is assessing additional mineral projects for potential acquisition on a global basis. • Difficult trading conditions for many listed junior resource companies lead to more realistic vendor expectations, at this time. • Macallum is currently active in Colombia as well as Bolivia in South America, and has looked at opportunities in Chile, Argentina and Peru as well. • Non-ferrous metals projects also reviewed in the Philippines, Myanmar, Mongolia, Africa and Australia. • Commodities reviewed include base and precious metals, uranium as well as speciality metals. • Personal contacts are well established in a number of countries, which allows for timely evaluation of opportunities.