Sunshine Oilsands Ltd. (SUNYF)

[cowboyinvestor69]

Cold flow assets
During the first quarter of 2013, the Corporation undertook a strategic review of its cold flow assets in order to
optimize the potential of these assets, particularly for Sunshine’s Muskwa area. The Corporation is examining various
joint venture or divesture strategies. Options continue to be reviewed and an update will be provided once a
determination has been made. For the three months ended March 31, 2013, Muskwa remains in the resource
definition stage. As such, the Corporation has capitalized all costs incurred to date, including operating costs net of
revenues, for financial reporting purposes