Holy smokes the companys fianances are hurting bad-

Note 16

The Company is in the exploration stage, has incurred losses from operations, and requires additional funds for further exploratory activity prior
to attaining a revenue generating status. There are no assurances that a commercially viable mineral deposit exists on any of our properties. In
addition, the Company may not find sufficient ore reserves to be commercially mined. As such, the Company's auditors have expressed an
uncertainty about the Company's ability to continue as a going concern in their opinion attached to our audited financial statements for the fiscal
year ended January 31, 2008.

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The Company granted a security interest to the holders of the May 2007 Convertible Notes to all now owned and hereafter acquired right, title
and interest of the Company in, to and in respect of all: Accounts, interests in goods represented by Accounts, returned, reclaimed or repossessed
goods with respect thereto and rights as an unpaid vendor; contract rights; Chattel Paper; investment property; General Intangibles, Documents,
Instruments, letters of credit, bankers’ acceptances or guaranties, cash moneys, deposits; securities, bank accounts, deposit accounts, credits and
other property now or hereafter owned or held in any capacity by the Company, as well as agreements or property securing or relating to any of
the items referred to above.