Cibolan Gold Corp. (fka CIBG)

[hispeedsoul]

Mr. Forbush informed me of this:

This situation is probably unlike any other R/S that you have seen in that the perceived market value of GNMT will be raised to a new height (tied to OPG) as a result of its ownership of 64% of OPG for a period of time until the Distribution. Under these condition it is very unlikely that any decrease in value would be seen.

GNMT has a $10 million NOL as an asset which cannot be monetized for our shareholder with the current number of O/S. Approval of the R/S allows us to provide you greater value than just the Independence project. Upon distribution of the OPG share to our shareholders, the only assets on the GNMT balance sheet will be the NOL and whatever other project we can put therein. Without a R/S of some level, acquiring another asset for the benefit of our shareholders may be an unachievable objective.

This R/S has no impact on the amount of OPG shares that you or any other shareholder will receive. You will receive the same percentage of the OPG shares as your Ownership in GNMT at the time of the Distribution. The R/S does not change your ownership percentage.

You should be aware that an investment bank in Canada was requiring a 25 to 1 reverse split as part of a proposed financing and sponsorship to get GNMT listed on a Canadian exchange.

The amount of dilution at current prices that would be required to put the Independence into production would far exceed the A/S as it currently stands. Nevertheless this is no longer an issue as a result of the OPG transaction.