PAGE Management Limited

Page is continuing its exploration programs to calculate the potential of the full gold reserves, while has commenced exploitation tests in the Dabale-1 gold mine in the Abaladougou Kenieba gold concession, South of Bamako and near the town of Kangaba.

The mining will be undertaken in a number of Phases, and additional small / Medium scale gold mine licenses will be implemented in the near future subject to the additional gold reserves discovered. The exploitation license is for 148 square kilometer s, and a number of other sites have been demarcated for mining operations. The Page Mali’s application covers main 3 (three) sites the Dabale-1, Dabale-2 and the Nagady site.

The first anticipated commissioning of the recovery will be of 10 (ten) Mt per hour equipment followed by additional equipment to increase the production to 30 (thirty) Mt per hour for the first site.

The present Dabale-1 site gold reserve indications are calculated to approx. 1,500,000 oz to 2,000,000 oz. Exploration to date indicates the existence of additional reserves, a drilling program is underway to prove such additional results.

The anticipated gold production projections and expansion of the present facilities, subject to additional funding made available are:

DABALE – 1 (Present)	DABALE – 2 (Future)	NAGADY (Future)	TOTAL (Present & Future)
End of 2009 expand to 20 kg / m (640 oz / month). End of 2010 expand to 30 kg / m (960 oz / month). End of 2011 expand to 50 kg / m (1,600 oz / month). End of 2012 expand to 70 kg / m (2,250 oz / month).	20 kg / m (640 oz / m) 30 kg / m (960 oz / m) 50 kg / m (1,600 oz / m) 70 kg / m (2,250 oz / m)	10 kg / m (320 oz / m) 25 kg / m (800 oz / m) 15 kg / m (480 oz / m) 50 kg / m (1,600 oz / m)	50 kg / m (1,600 oz / m) 190 kg / m (6,100 oz / m) 125 kg / m (4,000 oz / m) 75 kg / m (2,400 oz / m)

Detailed business models, plans capex, exploration and laboratory results and general studies etc are available to our JV partners.