There is no truth at all in this post except the fact the final option agreement is not signed and this should have been completed long ago. I have spoken at length with Novak, Smeenk and Voisin and consulted legal advice on the LOI. I am a large shareholder in SPQ/UC and a smaller one in KWG. The issues are as presented earlier that the lawyers have been tardy and there has been some difficulty with expressing the SPQ dilution of KWG and the UC dilution of both in a single agreement as the numbers change as SPQ dilutes KWG and UC dilutes both simultaneously. Both KWG and SPQ acknowledge the LOI is not only totally legally binding but that UC has meet all obligations including reporting of financials on spending and work activity as well as being the agreed operator of the project.

All three parties have cooperated totally to date on work programs and planning for future drill programs and on the Aerotem survey and results. The companies have even presented jointly together to third parties like native groups, etc.

If this was to change and deteriorate it would be a lay-up legal win for UC but this will not happen. I also note that SPQ has the same issue in the option agreement with Renforth on the Kyle diamond properties as expressed by KWG and SPQ people.