Pioneer mine’s Production Costs

As the Pioneer Mine is currently in the ramp-up phase, with limited production of 3,600 oz and sold product of 640 oz for the six months ended 30 June 2008, cash costs incurred from the commencement of production in late April 2008 to 30 June 2008 are not a meaningful indicator of the expected future performance of the Pioneer Mine for the balance of the year ended 31 December 2008 or thereafter.