Each unit consists of one common share and one-half share purchase warrant. Each warrant is exercisable until October 7, 2016 at an exercise price of $0.10 per share.

The units will have a four month hold period expiring February 8, 2015.

The warrant terms will reduce to 30 days if the Company’s shares close on the TSX Venture Exchange four months after the date of issue for 20 consecutive trading days at a price of $0.40 per share or higher during the exercise period.

The Company may accelerate the warrant expiry time to 30 calendar days from the date that express written notice is provided to the holder by way of registered mail.

A finder’s fee of $3,300 has been paid.

The funds will be used for conducting a 1,200m drill program on the Silver Hope Property as well as working capital.