Capitalization

Share Capital as of September 30, 2011


Number of shares issued and outstanding 512,953,000
Options 41,774,000

554,727,000

Share Capital as of November 30, 2011 (pro forma Carrao transaction)


Number of shares issued and outstanding
618,088,000
Options 47,569,000
Warrants 3,287,000

668,944,000