As at May 31, 2008, the following share purchase warrants are outstanding:

On February 9, 2007, Delta Mali was granted a research license valid for a period of three years renewable twice on the Falea Copper-Uranium mineral property interest ("Falea"). The license area covers 150 square kilometres. The Falea mineral property interest is located in southwestern Mali, West Africa.

The Company (Optionor) has a mining option agreement with Rockgate Capital Corp. (Optionee), granting the Optionee an option to acquire a 60% undivided interest in the Falea mineral property interest. The agreement is in effect until the earlier of the second anniversary date of the Approval Date (January 5, 2007) and the date on which the option is terminated or lapses in accordance with the terms of the agreement. In consideration for the grant of the option, the Optionee shall:

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on the first anniversary of the Approval Date, issue to the Company an additional 200,000 of its common shares (issued).

In order to maintain in force the option granted to it and to exercise the option, the Optionee must also

incur expenditures in an aggregate amount of $1,500,000 as follows:

i) $300,000 by the first anniversary of the Approval Date (incurred);

ii) an additional $1,200,000 by the second anniversary of the Approval Date (incurred);

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during the option period, keep the mineral property interest in good standing by paying all taxes, assessments, and other charges and by doing all other acts and things that may be necessary in that regard.

Upon fulfilling its obligations, the Optionee has exercised its right to become the owner of a 60% undivided interest in the Falea mineral property interest. The title to the mineral property interest is held by a joint venture in each of the names of the Optionor and the Optionee as to their respective undivided interests. Rockgate Capital Corp. is the operator pursuant to the joint venture agreement.