Cannon Exploration Inc. (fka CNEX)

[Talc Moan]

Section b(2) Brief Description of Titles, Lease or Options

Cannon has been granted an "option" to purchase up to 100% interest in the group of claims. The option consists of a blend of hard and soft dollars. Cannon is required to make cash payments to the vendor on the anniversary date of the option agreement;hard dollar financing requires that Cannon, on or before May 31, a cash payment of $10,000 in 2010 and the final payment on or before May 31, 2011 of $150,00

Exploration Expenditure requirements On or before May 31 2010 expend a total of $50,00, and on or before May 31 2011 expend a total of $150,00 in exploration

The Propert has a total of 32 claims units that cover an area of approximately 550 Hectares


Bottom line FOlks, Cannon has to get things going, or they will default. The way it's going it looks like the CEO is getting things moving.

Smitter SMTT