For the six months ended August 31, 2012, the Company paid or accrued management and directors fees of $245,000 (August 31, 2011- $188,000) to certain officers and directors. The Company also paid or accrued $216,843 (August 31, 2011 - $348,423) to certain officers and directors for exploration property, finders’ fee, travel, office and other related expenses.

The Company also paid consulting fees of $19,500 (August 31, 2011 - $32,000) to a company owned by a director.

As at August 31, 2012, accounts payable of $209,820 (August 31, 2011 - $40,139) was owing to directors and officers of the Company and $nil (August 31, 2011 - $10,000) was owing to a company controlled by a director.

All related party transactions are in the normal course of business at the exchange amount agreed to by each party.