To date, Trueclaim
has recently completed the initial property assessment report and is currently being reviewed and
discussed by management. Requirements for the first year under the agreements are expected to be
satisfied by due dates.We have also reduced the total amount of shares outstanding to 51,266,260 which in effect reduced
total float to 13,504,817. Further stock issuance may be necessary to raise the required capital to
satisfy immediate cash requirements. We anticipate we can also access the non-dilutive credit facility
of up to $100million that has already been announced with a near 43-101 report to be completed.Cash Requirements. Our basic cash needs over the next twelve months are only about $7,000, as
our administrative costs are low. However, we will need an additional $150,000 over the next twelve
months in order to service the mineral claims and keep ownership of them. It is expected that we can
utilize the non-dilutive credit facility based on a near 43-101 report to be completed this year to
complete our stated business objective.
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