<SEC-DOCUMENT>0000950123-11-097627.txt : 20111110
<SEC-HEADER>0000950123-11-097627.hdr.sgml : 20111110
<ACCEPTANCE-DATETIME>20111110165210
ACCESSION NUMBER:		0000950123-11-097627
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20111110
FILED AS OF DATE:		20111110
DATE AS OF CHANGE:		20111110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DENISON MINES CORP.
		CENTRAL INDEX KEY:			0001063259
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33414
		FILM NUMBER:		111196037

	BUSINESS ADDRESS:	
		STREET 1:		595 BAY STREET, SUITE 402
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5G 2C2
		BUSINESS PHONE:		(416) 979-1991

	MAIL ADDRESS:	
		STREET 1:		595 BAY STREET, SUITE 402
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5G 2C2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL URANIUM CORP
		DATE OF NAME CHANGE:	19980603
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>c24594e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 6-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>






<DIV align="center" style="font-size: 18pt; margin-top: 10pt"><B>FORM 6-K</B>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 10pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 10pt"><B>Report of Foreign Private Issuer<BR>
Pursuant to Rule&nbsp;13a-16 or 15d-16<BR>
of the Securities Exchange Act of 1934</B></DIV>

<!-- xbrl,dc -->
<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Date: November&nbsp;10, 2011</B>
</DIV>
<!-- /xbrl,dc -->
<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Commission File Number: 001-33414</B>

</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 10pt"><B>Denison Mines Corp.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Translation of registrant&#146;s name into English)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">Atrium on Bay, 595 Bay Street, Suite&nbsp;402, Toronto, Ontario M5G 2C2<BR>
(Address of principal executive offices)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark whether the registrant files or will file annual reports under cover Form
20-F or Form 40-F.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">Form&nbsp;20-F <FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F <FONT style="font-family: Wingdings">&#254;</FONT></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(1) only permits the submission in paper of a Form 6-K
if submitted solely to provide an attached annual report to security holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><B>Note: </B>Regulation&nbsp;S-T Rule&nbsp;101(b)(7) only permits the submission in paper of a Form 6-K
if submitted to furnish a report or other document that the registrant foreign private
issuer must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrant&#146;s &#147;home
country&#148;), or under the rules of the home country exchange on which the registrant&#146;s
securities are traded, as long as the report or other document is not a press release, is
not required to be and has not been distributed to the registrant&#146;s security holders, and,
if discussing a material event, has already been the subject of a Form 6-K submission or
other Commission filing on EDGAR.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b)
under the Securities Exchange Act of 1934.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">Yes&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#254;</FONT></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b): 82- <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">




<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Signatures</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Denison Mines Corp.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: November 10, 2011&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left"><I>/s/ Sheila Colman</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sheila Colman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left" nowrap>Canadian Counsel and <br>Assistant Corporate Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">EXHIBIT INDEX
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="86%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press release dated October&nbsp;20, 2011</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press release dated October&nbsp;26, 2011 entitled &#147;Denison&#146;s Arizona 1 Uranium Mine
Receives MSHA Sentinels of Safety Award&#148;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press release dated October&nbsp;26, 2011 entitled &#147;Denison Mines Corp. Third Quarter
2011 Results Conference Call Friday, November&nbsp;4, 2011&#148;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press release dated November&nbsp;3, 2011</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Management&#146;s Discussion and Analysis for the Nine Months Ended September&nbsp;30, 2011</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Financial Statements for the Nine Months Ended September&nbsp;30, 2011</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7.</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form&nbsp;52-109F2, Certification of Interim Filings by Ron F. Hochstein and James R.
Anderson</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c24594exv99w1.htm
<DESCRIPTION>EXHIBIT 1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;1</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><IMG src="c24594c2459400.gif" alt="(DENISON MINES LOGO)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Denison Mines Corp.<BR>
Atrium on Bay, 595 Bay Street, Suite&nbsp;402<BR>
Toronto, ON M5G 2C2<BR>
Ph. 416-979-1991 <B>&#149;</B> Fx. 416-979-5893 <B>&#149;</B> www.denisonmines.com

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>PRESS RELEASE</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>DENISON REPORTS WHEELER RIVER SUMMER DRILL<BR>
PROGRAM COMPLETED; SUCCESSFULLY DELINEATES<BR>
PHOENIX ZONE A EXTENSION</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Toronto, ON &#151; October&nbsp;20, 2011... Denison Mines Corp. </B>(TSX:DML) (NYSE AMEX:DNN) (&#147;Denison&#148; or
the &#147;Company&#148;) is pleased to report results from the final 25 holes of the summer drill program on
its Wheeler River property in northern Saskatchewan. Some of the very high grade uranium
intercepts included hole WR-409 which returned 10.07% eU3O8 over 4.1 metres
and WR-419 which intersected 5.1 metres grading 10.97%
eU<SUB style="font-size: 85%; vertical-align: text-bottom">3</sub>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</sub>, both of which
were in Zone A of the Phoenix Deposits. In Zone B, WR-421 returned
19.13%
eU<SUB style="font-size: 85%; vertical-align: text-bottom">3</sub>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</sub>
over 2.1 metres. The attached map illustrates the significant results of the summer drill
program.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Ron Hochstein, President and C.E.O. of Denison commented, &#147;The 2011 drill program has expanded Zone
A, and the new structures identified provide potential increases for both Zones A and B, which will
be followed up in 2012.&#148;
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Based on internal estimates, Denison believes that the results from the 2011 drill program could
potentially lead to an increase in Denison&#146;s mineral resource estimates in Zone A by 10 to 15
million pounds U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>. However, there has been insufficient exploration to
properly define an increase in the mineral resource estimate at this time. Moreover, it is not
certain that further exploration will result in the delineation of additional mineral resources at
Zone A.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><U><B>Phoenix &#147;Zone A Extension&#148;</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Drilling in the summer of 2011 has successfully delineated numerous stacked northeast and east
trending mineralizing structures that have significantly increased the width of the mineralized
&#147;Zone A Extension&#148; at the northeast end of Zone A. The Zone A Extension currently has widths
varying from 10 to 70 metres, a strike length of nearly 100 metres, and is open to the northeast.
Ten mineralized holes presently define this trend. The most significant drill hole to date is
WR-403 with 20.63% U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB> over 6.0 metres and 13.30% U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>
over 11.5 metres. Mineralization in this area also penetrates further into the basement providing
additional basement targets at depth.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">There are strong indications of other structures that could significantly increase widths along
east west stacking trends based on existing geological, structural, geochemical and grade
distribution features. There is evidence of similar stacked structures in Zone B as well.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">These stacking structures along the eastern margins of the mineralization in both Zones A and B
will be primary targets in the upcoming winter 2012 drill program.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><U><B>Summer Drill Program Probe Results</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The probe results from the final 22 holes of the summer program, not previously reported, are shown
in the tables below. Three additional holes were completed on resistivity features and had no
significant mineralized intersections.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Summer Zone A Drill Probe Results</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">From</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">To</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Interval</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Probe Grade</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">GT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Cut-off Grade</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Hole #</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(% eU<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Grade x thickness</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(% eU<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-408</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">391.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">395.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>WR-409</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>408.4</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>412.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.07</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>41.3</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.00</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-410A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">409.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">409.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.02</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-411</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">395.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">398.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-413</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">401.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>WR-414</TD>
    <TD>&nbsp;</TD>
    <TD colspan="23" align="center">No significant results<BR></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-415</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">395.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.49</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-417</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">393.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">396.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD>WR-418</TD>
    <TD>&nbsp;</TD>
    <TD colspan="23" align="center">No significant results<BR></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>WR-419</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>392.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>397.6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>10.97</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>56.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.00</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-420</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">409.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">412.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-422</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">392.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">393.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-424</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">459.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">460.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-425</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">472.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">473.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-427</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">444.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">445.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-429</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">457.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">461.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-430</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">414.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">417.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.08</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Summer Zone B Drill Probe Results</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">From</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">To</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Interval</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Probe Grade</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">GT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Cut-off Grade</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Hole #</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(% eU<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Grade x thickness</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(% eU<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>WR-421</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>393.1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>395.2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>19.13</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>40.2</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.00</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-423</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">390.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">390.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-426</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">398.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">398.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-428</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">385.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">387.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.08</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-431</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">386.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">386.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.00</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The foregoing drill results are calculated using down hole geophysical probes, which measure
natural gamma radiation, and from which an indirect estimate of uranium content can be made. The
result is referred to as &#147;eU3O8&#148; for &#147;equivalent U3O8.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><U><B>Summer Drill Program Assay Results</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Assay results from the summer drill program, shown in the following table, confirmed the grades
previously reported by Denison as initial probe results.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Summer Drill Assay Results</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">From</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">To</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Interval</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Chemical Grade</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">GT</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Hole #</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(m)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(% U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Grade x thickness</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-392</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">407.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">408.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-393</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">407.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">407.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-395</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">400.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">404.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.93</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>WR-403</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>394.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>400.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>20.63</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>123.8</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>And</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>401.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>413.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>11.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.30</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>153.0</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WR-404</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">414.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">417.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14.6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>WR-405</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>391.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>396.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>12.22</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>55.0</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">And</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">407.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.31</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.0</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Chemical analyses were completed by SRC Geoanalytical Laboratories of Saskatoon, Saskatchewan and
were a combination of geochemical and assay methods. The grades are reported at a 0.05%
U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB> cut off. WR-401 previously reported 38.48% eU<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>
over 8.4 metres will continue to be reported as equivalent grade due to poor core recovery.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><U><B>Summer 2011 Overview</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The summer drill program totaled 48 holes for 23,776 metres with the following distribution.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Area</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Metres</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>No. of Holes</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Zone A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,581</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right"><FONT style="white-space: nowrap">32 (including 1 re-start)</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Zone B</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,950</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Zone D</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Regional</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>23,776</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>48</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Phoenix Deposits are located on the Wheeler River property which is located between the
McArthur River Mine and Key Lake mill complex in the Athabasca Basin. Denison is the operator and
holds a 60% interest. Cameco Corporation holds a 30% interest and JCU (Canada) Exploration
Company, Limited holds the remaining 10% interest. All previous and current drill results from
Phoenix Deposits have been tabulated and are presented on Denison&#146;s website at
www.denisonmines.com.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Qualified Person</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The technical information contained in this press release related to the above described
exploration activities is under the supervision of Lawson Forand, Denison&#146;s Exploration Manager,
Saskatchewan, who is a Qualified Person in accordance with the requirements of National Instrument
43-101. All drill holes reported in this release were drilled at either -80 or -90 degrees and
while the exact attitude of the mineralization remains uncertain, it is believed, at this time that
the mineralized intervals represent near true widths. For a description of the quality assurance
program and quality control measures applied by Denison, please see Denison&#146;s Annual Information
Form dated March&nbsp;28, 2011 filed under the Company&#146;s profile on the SEDAR website.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>About Denison</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Denison Mines Corp. is an intermediate uranium producer with production in the U.S., combined with
a diversified development portfolio of projects in the U.S., Canada, Zambia and Mongolia.
Denison&#146;s assets include its 100% ownership of the White Mesa mill in Utah and its 22.5%
ownership of the McClean Lake mill in Saskatchewan. The Company also produces vanadium as a
co-product from some of its mines in Colorado and Utah. Denison owns interests in world-class
exploration projects in the Athabasca Basin in Saskatchewan, including its flagship project at
Wheeler River, and in the southwestern United States, Mongolia and Zambia. Denison is the manager
of Uranium Participation Corporation (TSX-U), a publicly traded company which invests in uranium in
concentrates and uranium hexafluoride.</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>For more information, please contact</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Ron Hochstein
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(416) 979-1991 Extension 232</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Jim Anderson
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(416) 979-1991 Extension 372</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Executive Vice President and CFO</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Cautionary Statements Regarding Forward Looking Information</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Certain information contained in this press release constitutes &#147;forward-looking information&#148;,
within the meaning of the United States Private Securities Litigation Reform Act of 1995 and
similar Canadian legislation concerning the business, operations and financial performance and
condition of Denison.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Generally, these forward-looking statements can be identified by the use of forward-looking
terminology such as &#147;plans&#148;, &#147;expects&#148; or &#147;does not expect&#148;, &#147;is expected&#148;, &#147;budget&#148;, &#147;scheduled&#148;,
&#147;estimates&#148;, &#147;forecasts&#148;, &#147;intends&#148;, &#147;anticipates&#148; or &#147;does not anticipate&#148;, or &#147;believes&#148;, or
variations of such words and phrases or state that certain actions, events or results &#147;may&#148;,
&#147;could&#148;, &#147;would&#148;, &#147;might&#148; or &#147;will be taken&#148;, &#147;occur&#148;, &#147;be achieved&#148; or &#147;has the potential to&#148;.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Forward looking statements are based on the opinions and estimates of management as of the date
such statements are made, and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of
Denison to be materially different from those expressed or implied by such forward-looking
statements. Denison believes that the expectations reflected in this forward-looking information
are reasonable but no assurance can be given that these expectations will prove to be correct and
such forward-looking information included in this press release should not be unduly relied upon.
This information speaks only as of the date of this press release. In particular, this press
release may contain forward-looking information pertaining to the following: the estimates of
Denison&#146;s mineral reserves and mineral resources; estimates regarding Denison&#146;s uranium and
vanadium production levels and sales volumes; capital expenditure programs, estimated production
costs, exploration and development expenditures and reclamation costs; expectations of market
prices and costs; supply and demand for uranium and vanadium; possible impacts of litigation and
regulatory actions on Denison; exploration, development and expansion plans and objectives;
Denison&#146;s expectations regarding raising capital and adding to its mineral reserves and resources
through acquisitions and development; and receipt of regulatory approvals, permits and licences and
treatment under governmental regulatory regimes.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">There can be no assurance that such statements will prove to be accurate, as Denison&#146;s actual
results and future events could differ materially from those anticipated in this forward-looking
information as a result of those factors discussed in or referred to under the heading &#147;Risk
Factors&#148; in Denison&#146;s Annual Information Form dated March&nbsp;28, 2011, available at
<U>http://www.sedar.com,</U> and in its Form 40-F available at <U>http://www.sec.gov</U>, as well
as the following: global financial conditions, the market price of Denison&#146;s securities, volatility
in market prices for uranium and vanadium; ability to access capital, changes in foreign currency
exchange rates and interest rates; liabilities inherent in mining operations; uncertainties
associated with estimating mineral reserves and resources and production; uncertainty as to
reclamation and decommissioning liabilities; failure to obtain industry partner and other third
party consents and approvals, when required; delays in obtaining permits and licenses for
development properties; competition for, among other things, capital, acquisitions of mineral
reserves, undeveloped lands and skilled personnel; public resistance to the expansion of nuclear
energy and uranium mining; uranium industry competition and international trade restrictions;
incorrect assessments of the value of acquisitions; geological, technical and processing problems;
the ability of Denison to meet its obligations to its creditors; actions taken by regulatory
authorities with respect to mining activities; the potential influence of or reliance upon its
business partners, and the adequacy of insurance coverage.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Accordingly, readers should not place undue reliance on forward-looking statements. These factors
are not, and should not be construed as being, exhaustive. Statements relating to &#147;mineral
reserves&#148; or &#147;mineral resources&#148; are deemed to be forward-looking information, as they involve the
implied assessment, based on certain estimates and assumptions that the mineral reserves and
mineral resources described can be profitably produced in the future. The forward-looking
information contained in this press release is expressly qualified by this cautionary statement.
Denison does not undertake any obligation to publicly update or revise any forward-looking
information after the date of this press release to conform such information to actual results or
to changes in Denison&#146;s expectations except as otherwise required by applicable legislation.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred
Resources: </B>This press release may use the terms &#147;Measured&#148;, &#147;Indicated&#148; and &#147;Inferred&#148; Resources.
United States investors are advised that while such terms are recognized and required by Canadian
regulations, the United States Securities and Exchange Commission does not recognize them.
&#147;Inferred Mineral Resources&#148; have a great amount of uncertainty as to their existence, and as to
their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of
Inferred Mineral Resources may not form the basis of feasibility or other economic studies. <B>United
States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves. United States investors are also cautioned
not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or
legally mineable.</B>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><IMG src="c24594c2459401.gif" alt="(FULL PAGE GRAPHIC)">
</DIV>

<TABLE width="90%">
<TR><TD style="font-size: 1pt; color: #FFFFFF">WR-417 10.80%eU O /2.7m 3 8 Zone A Extension DENISON MINES CORP. L400N WR-419 WR-405 WHEELER RIVER
PROPERTY 10.97%eU O /5.1m 3 8 12.22%U O /4.5m L350N 3 8 PHOENIX URANIUM DEPOSIT and 3.31%U O /1.5m Denison 60%
Cameco 30% JCU 10% 3 8 L300N WR-409 WR-425 ? Only the highest grade WR-414 WR-429 10.07%eU O /4.1m WR-427
Uranium Intersection 3 8 WR-418 intersections are shown where WR-430 drill holes have more than one
WR-411 mineralized interval except WR- L250N WR-404 403 and WR-405. 4.17%U O /3.5m WR-403 3 8 WR-415
Reported results using downhole 20.63%U O /6.0m 3 8 probe equivalent grade except and L600N WR-392, WR-395, WR-403,
L200N 13.30%U O /11.5m WR-404 and WR-405 that are WR-410A 3 8 reporting chemical assays. Lines WR-422
This map only shows partial L550N Grid 1.16%eU O /0.9m WR-420 results of the drilling for the L150N 3 8 2011
summer program. Please Drill refer to Denison&#146;s website for all WR-408 results. 1.37%eU O /3.9m L500N ? 3 8 Grade x
Thickness contours L100N based on probe equivalent WR-395 WR-413 grade results to hole WR-431 of 0.93%U O /4.0m 5.81%eU O /4.4m
the summer program. L50N 3 8 3 8 L450N ? To accompany press release dated Oct 20, 2011 WR-392 L400N 2.19%U O /1.0m L0 3 8 398.107
L350N 158.489 L50S 63.096 25.000 10.000 L300N 3.981 L100S WR-421 1.585 19.13%eU O /2.1m 3 8 0.631 L250N 0.251 0.100 0.040 0.016
L200N 0.006 0.003 WR-423 0.001 L150N 0.000 drill hole collar and trace grade*thickness WR-426 WR-428 pelite (%U O (%eU O )*m) 3 8 3 8
graphitic pelite L100N garnetiferous pelite semipelite quartzite L50N WS thrust fault WS hangingwall fault WR-431
cross fault 3.70%eU O /0.6m 3 8 Geophysical L0 Grid 0 200m Lines L</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>c24594exv99w2.htm
<DESCRIPTION>EXHIBIT 2
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;2</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><IMG src="c24594c2459400.gif" alt="(DENISON MINES LOGO)">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Denison Mines Corp.<BR>
Atrium on Bay, 595 Bay Street, Suite&nbsp;402<BR>
Toronto, ON M5G 2C2<BR>
Ph. 416-979-1991 <B>&#149;</B> Fx. 416-979-5893 <B>&#149;</B> www.denisonmines.com

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>PRESS RELEASE</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>DENISON&#146;S ARIZONA 1 URANIUM MINE RECEIVES MSHA<BR>
SENTINELS OF SAFETY AWARD</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Toronto, ON &#151; October&nbsp;26, 2011... Denison Mines Corp. </B>(TSX:DML) (NYSE AMEX:DNN) (&#147;Denison&#148; or the
&#147;Company&#148;) is pleased announce that the Arizona 1 uranium mine received the 2010 U.S. Department of
Labor&#146;s Mine Safety and Health Administration (&#147;MSHA&#148;) Sentinels of Safety Award in the small
underground metal mine category. In 2010, the Arizona 1 mine personnel worked a total of 56,417
injury-free hours. Denison&#146;s recently acquired Daneros uranium mine in Utah was recognized as a
runner up with a total of 23,674 injury-free hours. The Sentinels of Safety Award acknowledges the
men and women at those mines in the United States that have worked the most employee-hours without
experiencing a lost-time injury.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Ron Hochstein, President and C.E.O. of Denison commented, &#147;Safety is core to our operating culture
in Denison, and it is gratifying to see one of our operations on the Arizona Strip recognized for
their efforts.&#148;
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>About Denison</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Denison Mines Corp. is an intermediate uranium producer with production in the U.S., combined with
a diversified development portfolio of projects in the U.S., Canada, Zambia and Mongolia.
Denison&#146;s assets include its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership
of the McClean Lake mill in Saskatchewan. The Company also produces vanadium as a co-product from
some of its mines in Colorado and Utah. Denison owns interests in world-class exploration projects
in the Athabasca Basin in Saskatchewan, including its flagship project at Wheeler River, and in the
southwestern United States, Mongolia and Zambia. Denison is the manager of Uranium Participation
Corporation (TSX-U), a publicly traded company which invests in uranium in concentrates and uranium
hexafluoride.</I>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>For more information, please contact</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ron Hochstein
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>(416) 979-1991 Extension 232</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">President and Chief Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Jim Anderson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>(416) 979-1991 Extension 372</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Executive Vice President and CFO</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>c24594exv99w3.htm
<DESCRIPTION>EXHIBIT 3
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;3</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><IMG src="c24594c2459400.gif" alt="(DENISON MINES LOGO)">

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Denison Mines Corp.<BR>
Atrium on Bay, 595 Bay Street, Suite&nbsp;402<BR>
Toronto, ON M5G 2C2<BR>
Ph. 416-979-1991 <B>&#149;</B> Fx. 416-979-5893 <B>&#149;</B> www.denisonmines.com

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>PRESS RELEASE</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Denison Mines Corp. Third Quarter 2011 Results</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Conference Call Friday, November&nbsp;4, 2011</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Toronto, ON &#151; October&nbsp;26, 2011 (TSX: DML; AMEX: DNN) Denison Mines Corp. (&#147;Denison&#148; or the
&#147;Company&#148;) </B>announces that the Company will hold a telephone conference with a webcast presentation
at 9:00 am EDT on Friday, November&nbsp;4, 2011 to discuss financial results for the Third Quarter 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Please call in 5-10 minutes before the conference starts and stay on the line (an operator will be
available to assist you). The call-in number is (416)&nbsp;340-2216.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">To view the live presentation, please log on at <U>www.denisonmines.com</U> 10 minutes prior to
the call.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Approximately two hours after the call:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">a replay of the telephone conference will be available at 905-694-9451 and the passcode
is 2461552; and</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">the presentation will be available at <U>www.denisonmines.com</U>.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>About Denison</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Denison Mines Corp. is an intermediate uranium producer with production in the U.S., combined with
a diversified development portfolio of projects in the U.S., Canada, Zambia and Mongolia.
Denison&#146;s assets include its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership
of the McClean Lake mill in Saskatchewan. The Company also produces vanadium as a co-product from
some of its mines in Colorado and Utah. Denison owns interests in world-class exploration projects
in the Athabasca Basin in Saskatchewan, including its flagship project at Wheeler River, and in the
southwestern United States, Mongolia and Zambia. Denison is the manager of Uranium Participation
Corporation (TSX-U), a publicly traded company which invests in uranium in concentrates and uranium
hexafluoride.</I>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">For further information, please contact:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Ron Hochstein
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(416) 979-1991 ext. 232</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">James Anderson
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(416) 979-1991 ext. 372</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Executive Vice President &#038; Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>c24594exv99w4.htm
<DESCRIPTION>EXHIBIT 4
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;4</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Denison Mines Corp.<br>
Atrium on Bay, 595 Bay Street, Suite&nbsp;402<br>
Toronto, ON M5G 2C2<br>
Ph. 416-979-1991 <B>&#149;</B> Fx. 416-979-5893 <B>&#149;</B><br>
www.denisonmines.com<br>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><IMG src="c24594c2459400.gif" alt="(DENISON MINES LOGO)"></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">PRESS RELEASE
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Trading symbols: DML-T, DNN-A
</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><U><B>DENISON MINES CORP. REPORTS THIRD QUARTER 2011 RESULTS</B></U>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Toronto, ON &#151; November&nbsp;3, 2011... Denison Mines Corp. </B>(&#147;Denison&#148; or the &#147;Company&#148;) (DML: TSX, DNN:
NYSE AMEX) today reported its financial results for the three months and nine months ended
September&nbsp;30, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company recorded net income of $15,484,000 or $0.04 per share for the three months ended
September&nbsp;30, 2011 compared with a net loss of $5,518,000 or $0.02 per share for the same period in
2010. For the nine months ended September&nbsp;30, 2011, the Company recorded a net loss of $5,332,000
or $0.01 per share compared to net income of $4,047,000 or $0.01 per share for the same period in
2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">All amounts in this release are in U.S. dollars unless otherwise indicated.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Financial Highlights</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Results of Operations:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">39,883</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">60,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">89,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,518</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,332</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Basic earnings (loss)&nbsp;per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Diluted earnings (loss)&nbsp;per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">As at</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">As at</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Financial Position:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Working capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">96,459</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">133,837</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">401,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">342,164</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">556,842</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">523,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total long-term liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">33,855</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">38,598</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>International Financial Reporting Standards</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">These third quarter 2011 interim consolidated financial statements and other financial information
have been prepared using International Financial Reporting Standards (&#147;IFRS&#148;) and the Company&#146;s
2010 comparative financial statements and other financial information have been restated following
its IFRS accounting policies.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Revenue</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">As a result of the events in Japan in March&nbsp;2011, the uranium spot market demand has declined and
the price has been trading in a range of $50.00 to $55.00 per pound. In response to these weaker
market conditions, Denison has deferred uranium sales to later in the year.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium sales revenue for the third quarter was $10,341,000 from the sale of 167,000 pounds
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at an average price of $62.04 per pound. Uranium sales for the same
period in 2010 were 706,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at an average price of $44.22 per
pound resulting in revenue of $31,228,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium sales revenue for the nine months ended September&nbsp;30, 2011 was $34,904,000 from the sale of
550,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at an average price of $63.46 per pound. Uranium sales
revenue for the same period in 2010 totaled $65,218,000 from the sale of 1,390,000 pounds
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8 </SUB>at an average price of $46.93 per pound.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Vanadium sales revenue for the three months ended September&nbsp;30, 2011 was $849,000 from the sale of
144,000 pounds of V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> equivalent at an average price of $5.89 per pound.
During the same period in 2010, vanadium sales revenue was $3,794,000 from the sale of 534,000
pounds of V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> equivalent at an average price of $7.11 per pound. For the
nine months ended September&nbsp;30, 2011, vanadium sales revenue was $11,550,000 from the sale of
1,802,000 pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> equivalent at an average price of $6.41 per pound
compared to $10,038,000 from the sale of 1,375,000 pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5 </SUB>equivalent at
an average price of $7.30 per pound for the nine months ended September&nbsp;30, 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Inventory available for sale was 502,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at September&nbsp;30, 2011.
Based on spot prices at September&nbsp;30, 2011, this inventory had a value of $26,355,000. The Company
currently has no vanadium in inventory available for sale.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Revenue from the environmental services division (&#147;DES&#148;) for the three and nine months ended
September&nbsp;30, 2011 was $5,064,000 and $12,195,000 compared to $4,116,000 and $11,271,000 in the
same periods in 2010. Revenue from the Company&#146;s management contract with Uranium Participation
Corporation for the three and nine months ended September&nbsp;30, 2011 was $449,000 and $1,476,000
compared to $409,000 and $2,089,000 in the same periods in 2010. The decrease is due to
transaction fees received in the first quarter of 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Operating Expenses</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The McClean Lake mill is on stand-by and Denison&#146;s share of stand-by costs for the three and nine
months ended September&nbsp;30, 2011 totaled $181,000 and $598,000 respectively.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium and vanadium production at the White Mesa mill for the three and nine month periods are
shown below:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(Pounds)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">356,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">767,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">824,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,045,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,290,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,956,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">As planned, conventional ore processing ceased at the end of June for maintenance work and is
planned to resume in November of 2011. Alternate feed processing is continuing.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">At September&nbsp;30, 2011, a total of 90,600 tons of conventional ore was stockpiled at the mill
containing approximately 614,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> and 886,000 pounds
V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB>. The Company also has approximately 554,000 pounds
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> contained in the alternate feed material stockpiled at the mill at
September&nbsp;30, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">U.S. production costs<SUP style="font-size: 85%; vertical-align: text-top">1</SUP> for the three months and nine months ended September&nbsp;30, 2011
were $23.64 and $46.54 per pound U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8. </SUB> Production costs were $37.42 and
$38.22 per pound U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> in the three months and nine months ended September&nbsp;30,
2010. Production costs for the recent quarter are down due to the mill processing alternate feed
only. For the nine-month period, the costs are higher than last year due to a change in mill feed
sources, lower vanadium recoveries and higher reagent costs.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Other</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Operating costs for the three and nine months ended September&nbsp;30, 2011 include recoveries of
$232,000 and $17,000 relating to the change in net realizable value on the Company&#146;s vanadium
inventory. For the three and nine months ended September&nbsp;30, 2010 operating costs include
recoveries of $3,213,000 and $13,175,000 respectively relating to the change in net realizable
value provisions of the Company&#146;s uranium and vanadium inventory. Operating costs also include
expenses relating to DES amounting to $4,825,000 for the three months and
$11,660,000 for the nine months in 2011 compared to $3,484,000 and $9,874,000 respectively for the
same periods in 2010.
</DIV>
<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Production costs, which is a non-gaap measure, include
the costs of mining the ore fed to the mill in the period plus the costs of
milling the ore less a credit for vanadium produced in the period and excluding
depreciation and amortization.</DIV></TD>
</TR>

</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 2 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">





<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Mineral Property Exploration</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison is engaged in uranium exploration, as both operator and non-operator of joint ventures and
as operator of its own properties in Canada, the U.S., Mongolia and Zambia. For the three months
ended September&nbsp;30, 2011 exploration expenditures totaled $6,917,000 and $12,558,000 for the nine
months ended September&nbsp;30, 2011 as compared to $2,556,000 for the three months ended September&nbsp;30,
2010 and $6,050,000 for the nine months ended September&nbsp;30, 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">During the quarter, activity in the Athabasca Basin region of northern Saskatchewan was focused on
the Company&#146;s 60% owned Wheeler River project. Denison&#146;s share of exploration spending on its
Canadian properties totaled $2,541,000 for the three months ended September&nbsp;30, 2011 and totaled
$6,264,000 for the nine months ended September&nbsp;30, 2011. For the three months ended September&nbsp;30,
2010, Canadian exploration spending totaled $1,756,000 and $4,881,000 for the nine months ended
September&nbsp;30, 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The 55 hole, 24,000 metre summer drilling program at Wheeler River was completed. The program
expanded Zone A and the new structures identified provide potential increases for both Zones A and
B which will be followed up in 2012. Some of the very high-grade uranium intercepts included hole
WR-409 which returned 10.07% eU3O8 over 4.1 metres and WR-419 which intersected 5.1 metres grading
10.97% eU3O8, both of which were in Zone A of the Phoenix Deposits. In Zone B, WR-421 returned
19.13% eU3O8 over 2.1 metres. Based on internal estimates, Denison believes that the results from
the 2011 drill program could potentially lead to an increase in Denison&#146;s mineral resource
estimates in Zone A by 10 to 15&nbsp;million pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>. However, there has been
insufficient exploration to properly define an increase in the mineral resource estimate at this
time. Moreover, it is not certain that further exploration will result in the categorization of
additional mineral resource estimates in accordance with the requirements of National Instrument
43-101 (&#147;NI 43-101&#148;).
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Exploration expenditures of $2,802,000 and $3,771,000 for the three and nine months ended September
30, 2011 compared to $486,000 for the three months and $841,000 for the nine months ended September
30, 2010 were incurred in Mongolia on the Company&#146;s joint venture properties. Exploration and
definition drilling totaling approximately 51,000 metres was completed on GSJV licence areas in
2011. At the Hairhan, Haraat and Gurvan Saihan licence areas, drilling totaling 14,800 metres was
directed toward determining the extent of potential mineralized horizons to support delimiting
boundaries for mining licence applications. At the Ulziit project, 27,900 metres of drilling was
conducted to confirm mineralization initially discovered in 2008. Based on the 2011 drilling at
Ulziit, an initial resource estimate, in compliance with Mongolian requirements, is being prepared.
At the Urt Tsav/Hokh Tolgoi licence area, reconnaissance drilling confirmed the presence and
continuity of a mineralized channel system; further exploration is warranted on the licence. The
Company has a 70% interest in the Gurvan Saihan Joint Venture (&#147;GSJV&#148;) in Mongolia. The other
parties to the joint venture are the Mongolian Government as to 15% and Geologorazvedka, a Russian
entity, as to 15%. Under the Nuclear Energy Law, the Government of Mongolia could acquire a 34% to
51% interest at no cost to the Government. Discussions are underway with the Mongolian Government
regarding resolution of the ownership structure of the GSJV and issuance of mining licences.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Exploration expenditures of $1,052,000 and $1,951,000 for the three and nine months ended September
30, 2011 were incurred on the Company&#146;s Mutanga project in Zambia compared to $13,000 and $24,000
for the three and nine months ended September&nbsp;30, 2010. The Company completed its Phase 2 drilling
program which totalled approximately 9,600 metres aimed at further delineating and expanding the
mineralization in Dibwe East Zones 1 and 2. Denison intends to prepare revised mineral resource
estimates for the Mutanga Project in accordance with the requirements of NI 43-101 early in first
quarter 2012.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>White Canyon Uranium Limited Acquisition</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On June&nbsp;17, 2011, Denison&#146;s offer to acquire all of the outstanding shares of White Canyon Uranium
Limited (&#147;WCU&#148;) closed with 96.98% of shares outstanding accepting the offer. Compulsory
acquisition proceedings to acquire the remaining shares of WCU were completed in early August,
2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison&#146;s cash offer of AU$0.24 per WCU share resulted in a total purchase price of US$61,027,000
(AU$57,163,000). Consideration for the initial 96.98% interest was paid on July&nbsp;1, 2011 and payment
for the remaining shares was made in early August&nbsp;2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">WCU&#146;s key assets are located in southeastern Utah, near Denison&#146;s White Mesa mill. Its holdings
comprise 100% interests in the Daneros producing mine, the Lark Royal advanced project and the
Thompson, Geitus, Blue Jay and Marcy Look exploration projects, covering approximately 15,500 acres
in the Red Canyon district. WCU commenced production of uranium ore in December&nbsp;2009 from its 100%
owned Daneros uranium mine.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 3 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Liquidity &#038; Capital Resources</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Cash and cash equivalents were $52,764,000 at September&nbsp;30, 2011 compared with $97,554,000 at
December&nbsp;31, 2010. The decrease of $44,790,000 was due primarily to cash used in operations of
$24,108,000, the acquisition of WCU totaling $59,704,000, and expenditures on property, plant and
equipment totaling $18,999,000, offset by common share issues totaling $62,444,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Net cash used in operating activities of $24,108,000 during the nine months ended September&nbsp;30,
2011 is comprised of net loss for the period adjusted for non-cash items and for changes in working
capital items. Significant changes in working capital items during the period include a decrease
in accounts payable and accrued liabilities of $5,002,000, an increase of $26,175,000 in
inventories and a decrease of $12,120,000 in trade and other receivables.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Net cash used in investing activities was $80,988,000 consisting primarily of the acquisition of
WCU of $59,704,000, expenditures on property, plant and equipment of $18,999,000 and an increase in
restricted cash of $3,433,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Net cash from financing activities totaled $62,291,000 consisting of $62,444,000 from the issue of
common shares less $153,000 repayment of debt obligations.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">In total, these sources and uses of cash resulted in a net cash outflow after the effect of foreign
exchange of $44,790,000 during the period.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has in place a revolving credit facility for up to $35,000,000. The facility expires
on June&nbsp;29, 2012. Bank indebtedness under the facility at September&nbsp;30, 2011 was nil; however,
$9,252,000 of the line is used as collateral for certain letters of credit.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Outlook for 2011</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company plans to process Daneros and Arizona 1 ore commencing November&nbsp;2011. Uranium
production is expected to remain at 1.2&nbsp;million pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>. Vanadium
production will be approximately 1.3&nbsp;million pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB>.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium sales are expected to be approximately 1.2&nbsp;million pounds of U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>.
Vanadium sales will be approximately 1.8&nbsp;million pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> in 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Qualified Person</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The disclosure of scientific and technical information regarding Denison&#146;s properties in this press
release was prepared by or under the supervision of Lawson Forand, the Company&#146;s Exploration
Manager Saskatchewan, and Terry Wetz, Director of Project Development, who are Qualified Persons in
accordance with the requirements of NI 43-101.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Conference Call</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison is hosting a conference call on Friday, November&nbsp;4, 2011 starting at 9:00 A.M. (Toronto
time) to discuss the third quarter 2011 results. The webcast will be available live through a link
on Denison&#146;s website www.denisonmines.com and by telephone at 416-340-2216. A recorded version of
the conference call will be available by calling 905-694-9451 (password: 2461552) approximately two
hours after the conclusion of the call. The presentation will also be available at
www.denisonmines.com.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Additional Information</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison&#146;s interim financial statements for the nine months ended September&nbsp;30, 2011 and related
management&#146;s discussion and analysis are available on Denison&#146;s website at www.denisonmines.com or
under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Additional information, including the Company&#146;s 2010 Annual Report containing the Company&#146;s
consolidated financial statements and related management&#146;s discussion and analysis for its year
ended December&nbsp;31, 2010, and its annual information form and Form 40-F, are available on Denison&#146;s
website at www.denisonmines.com or under its profile on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov/edgar.shtml.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>About Denison</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison Mines Corp. is an intermediate uranium producer with production in the U.S., combined with
a diversified development portfolio of projects in the U.S., Canada, Zambia and Mongolia.
Denison&#146;s assets include its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership
of the McClean Lake mill in Saskatchewan. The
Company also produces vanadium as a co-product from some of its mines in Colorado and Utah.
Denison owns interests in world-class exploration projects in the Athabasca Basin in Saskatchewan,
including its flagship project at Wheeler River, and in the southwestern United States, Mongolia
and Zambia. Denison is the manager of Uranium Participation Corporation (TSX-U), a publicly traded
company which invests in uranium oxide in concentrates and uranium hexafluoride.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 4 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><B>For further information contact:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom">
    <TD align="left" valign="top">Ron Hochstein
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(416) 979-1991 Extension 232</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">James R. Anderson
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">(416) 979-1991 Extension 372</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Executive Vice President and Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Cautionary Statements</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Certain information contained in this press release constitutes &#147;forward-looking information&#148;,
within the meaning of the United States Private Securities Litigation Reform Act of 1995 and
similar Canadian legislation concerning the business, operations and financial performance and
condition of Denison.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Generally, these forward-looking statements can be identified by the use of forward-looking
terminology such as &#147;plans&#148;, &#147;expects&#148; or &#147;does not expect&#148;, &#147;is expected&#148;, &#147;budget&#148;, &#147;scheduled&#148;,
&#147;estimates&#148;, &#147;forecasts&#148;, &#147;intends&#148;, &#147;anticipates&#148; or &#147;does not anticipate&#148;, or &#147;believes&#148;, or
variations of such words and phrases or state that certain actions, events or results &#147;may&#148;,
&#147;could&#148;, &#147;would&#148;, &#147;might&#148; or &#147;will be taken&#148;, &#147;occur&#148;, &#147;be achieved&#148; or &#147;has the potential to&#148;.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Forward looking statements are based on the opinions and estimates of management as of the date
such statements are made, and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of
Denison to be materially different from those expressed or implied by such forward-looking
statements. Denison believes that the expectations reflected in this forward-looking information
are reasonable but no assurance can be given that these expectations will prove to be correct and
such forward-looking information included in this press release should not be unduly relied upon.
This information speaks only as of the date of this press release. In particular, this press
release may contain forward-looking information pertaining to the following: the estimates of
Denison&#146;s mineral reserves and mineral resources; estimates regarding Denison&#146;s uranium and
vanadium production levels and sales volumes; capital expenditure programs, estimated production
costs, exploration and development expenditures and reclamation costs; expectations of market
prices and costs; supply and demand for uranium and vanadium; possible impacts of litigation and
regulatory actions on Denison; exploration, development and expansion plans and objectives;
Denison&#146;s expectations regarding raising capital and adding to its mineral reserves and resources
through acquisitions and development; and receipt of regulatory approvals, permits and licences and
treatment under governmental regulatory regimes.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">There can be no assurance that such statements will prove to be accurate, as Denison&#146;s actual
results and future events could differ materially from those anticipated in this forward-looking
information as a result of those factors discussed in or referred to under the heading &#147;Risk
Factors&#148; in Denison&#146;s Annual Information Form dated March&nbsp;28, 2011, available at
http://www.sedar.com<U>,</U> and in its Form 40-F available at http://www.sec.gov, as well as the
following: global financial conditions, the market price of Denison&#146;s securities, volatility in
market prices for uranium and vanadium; ability to access capital, changes in foreign currency
exchange rates and interest rates; liabilities inherent in mining operations; uncertainties
associated with estimating mineral reserves and resources and production; uncertainty as to
reclamation and decommissioning liabilities; failure to obtain industry partner and other third
party consents and approvals, when required; delays in obtaining permits and licenses for
development properties; competition for, among other things, capital, acquisitions of mineral
reserves, undeveloped lands and skilled personnel; public resistance to the expansion of nuclear
energy and uranium mining; uranium industry competition and international trade restrictions;
incorrect assessments of the value of acquisitions; geological, technical and processing problems;
the ability of Denison to meet its obligations to its creditors; actions taken by regulatory
authorities with respect to mining activities; the potential influence of or reliance upon its
business partners, and the adequacy of insurance coverage.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Accordingly, readers should not place undue reliance on forward-looking statements. These factors
are not, and should not be construed as being, exhaustive. Statements relating to &#147;mineral
reserves&#148; or &#147;mineral resources&#148; are deemed to be forward-looking information, as they involve the
implied assessment, based on certain estimates and assumptions that the mineral reserves and
mineral resources described can be profitably produced in the future. The forward-looking
information contained in this press release is expressly qualified by this cautionary statement.
Denison does not undertake any obligation to publicly update or revise any forward-looking
information after the date of this press release to conform such information to actual results or
to changes in Denison&#146;s expectations except as otherwise required by applicable legislation.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred
Resources: </B>This press release may use the terms &#147;Measured&#148;, &#147;Indicated&#148; and &#147;Inferred&#148; Resources.
United States investors are advised that while such terms are recognized and required by Canadian
regulations, the United States Securities and Exchange Commission does not recognize them.
&#147;Inferred Mineral Resources&#148; have a great amount of uncertainty as to their existence, and as to
their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of
Inferred Mineral Resources may not form the basis of feasibility or other economic studies. <B>United
States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves. United States investors are also cautioned
not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or
legally mineable.</B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 5 -<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>c24594exv99w5.htm
<DESCRIPTION>EXHIBIT 5
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 5</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;5</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>INTRODUCTION</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">This Management&#146;s Discussion and Analysis (&#147;MD&#038;A&#148;) of Denison Mines Corp. and its subsidiary
companies and joint ventures (collectively, &#147;Denison&#148; or the &#147;Company&#148;) provides a detailed
analysis of the Company&#146;s business and compares its financial results with those of the previous
year. This MD&#038;A is dated as of November&nbsp;3, 2011 and should be read in conjunction with the
Company&#146;s unaudited interim consolidated financial statements and related notes for the nine months
ended September&nbsp;30, 2011. The interim consolidated financial statements are prepared in accordance
with International Financial Reporting Standards (&#147;IFRS&#148;). All dollar amounts are expressed in
U.S. dollars, unless otherwise noted.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Other continuous disclosure documents, including the Company&#146;s press releases, quarterly and annual
reports, Annual Information Form and Form 40-F are available through its filings with the
securities regulatory authorities in Canada at www.sedar.com and the United States at
www.sec.gov/edgar.shtml.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Our third quarter 2011 interim consolidated financial statements and other financial information
have been prepared using IFRS. The Company has restated its 2010 comparative financial statements
and other financial information following its IFRS accounting policies.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Certain information contained in this MD&#038;A constitutes &#147;forward-looking information&#148;, within the
meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian
legislation concerning the business, operations and financial performance and condition of Denison.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Generally, these forward-looking statements can be identified by the use of forward-looking
terminology such as &#147;plans&#148;, &#147;expects&#148; or &#147;does not expect&#148;, &#147;is expected&#148;, &#147;budget&#148;, &#147;scheduled&#148;,
&#147;estimates&#148;, &#147;forecasts&#148;, &#147;intends&#148;, &#147;anticipates&#148; or &#147;does not anticipate&#148;, or &#147;believes&#148;, or
variations of such words and phrases or state that certain actions, events or results &#147;may&#148;,
&#147;could&#148;, &#147;would&#148;, &#147;might&#148; or &#147;will be taken&#148;, &#147;occur&#148;, &#147;be achieved&#148; or &#147;has the potential to&#148;.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Forward looking statements are based on the opinions and estimates of management as of the date
such statements are made, and they are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of
Denison to be materially different from those expressed or implied by such forward-looking
statements. Denison believes that the expectations reflected in this forward-looking information
are reasonable but no assurance can be given that these expectations will prove to be correct and
such forward-looking information included in this MD&#038;A should not be unduly relied upon. This
information speaks only as of the date of this MD&#038;A. In particular, this MD&#038;A may contain
forward-looking information pertaining to the following: the estimates of Denison&#146;s mineral
reserves and mineral resources; estimates regarding Denison&#146;s uranium and vanadium production
levels and sales volumes; capital expenditure programs, estimated production costs, exploration and
development expenditures and reclamation costs; expectations of market prices and costs; supply and
demand for uranium and vanadium; possible impacts of litigation and regulatory actions on Denison;
exploration, development and expansion plans and objectives; Denison&#146;s expectations regarding
raising capital and adding to its mineral reserves and resources through acquisitions and
development; and receipt of regulatory approvals, permits and licences and treatment under
governmental regulatory regimes.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">There can be no assurance that such statements will prove to be accurate, as Denison&#146;s actual
results and future events could differ materially from those anticipated in this forward-looking
information as a result of those factors discussed in or referred to under the heading &#147;Risk
Factors&#148; in Denison&#146;s Annual Information Form dated March&nbsp;28, 2011 available at
http://www.sedar.com<U>,</U> and in its Form 40-F available at http://www.sec.gov/edgar.shtml, as
well as the following: global financial conditions, the market price of Denison&#146;s securities,
volatility in market prices for uranium and vanadium; ability to access capital, changes in foreign
currency exchange rates and interest rates; liabilities inherent in mining operations;
uncertainties associated with estimating mineral reserves and resources and production; uncertainty
as to reclamation and decommissioning liabilities; failure to obtain industry partner and other
third party consents and approvals, when required; delays in obtaining permits and licenses for
development properties; competition for, among other things, capital, acquisitions of mineral
reserves, undeveloped lands and skilled personnel; public resistance to the expansion of nuclear
energy and uranium mining; uranium industry competition and international trade restrictions;
incorrect assessments of the value of acquisitions; geological, technical and processing problems;
the ability of Denison to meet its obligations to its creditors; actions taken by regulatory
authorities with respect to mining activities; the potential influence of or reliance upon its
business partners, and the adequacy of insurance coverage.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Accordingly, readers should not place undue reliance on forward-looking statements. These factors
are not, and should not be construed as being, exhaustive. Statements relating to &#147;mineral
reserves&#148; or &#147;mineral resources&#148; are deemed to be forward-looking information, as they involve the
implied assessment, based on certain estimates and assumptions that the mineral reserves and
mineral resources described can be profitably produced in the future. The forward-looking
information contained in this MD&#038;A is
expressly qualified by this cautionary statement. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the date of this MD&#038;A to conform
such information to actual results or to changes in Denison&#146;s expectations except as otherwise
required by applicable legislation.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred
Resources: </B>&#147;This MD&#038;A&#148; may use the terms &#147;Measured&#148;, &#147;Indicated&#148; and &#147;Inferred&#148; Resources. United
States investors are advised that while such terms are recognized and required by Canadian
regulations, the United States Securities and Exchange Commission does not recognize them.
&#147;Inferred Mineral Resources&#148; have a great amount of uncertainty as to their existence, and as to
their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of
Inferred Mineral Resources may not form the basis of feasibility or other economic studies. <B>United
States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves. United States investors are also cautioned
not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or
legally mineable.</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Overview</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison is a reporting issuer in all of the Canadian provinces. Denison&#146;s common shares are listed
on the Toronto Stock Exchange under the symbol &#147;DML&#148; and on the NYSE Amex LLC under the symbol
&#147;DNN&#148;.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison is an intermediate uranium producer with production in the U.S. combined with a diversified
exploration and development portfolio with projects in the U.S., Canada, Zambia and Mongolia.
Denison&#146;s assets include its 100% ownership of the White Mesa mill in Utah and its 22.5% ownership
of the McClean Lake mill in Saskatchewan. The Company also produces vanadium as a co-product from
some of its mines in Colorado and Utah. The Company also processes uranium-bearing waste
materials, referred to as &#147;alternate feed materials&#148;, for the recovery of uranium, alone or in
combination with other metals, at the Company&#146;s White Mesa mill.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison owns interests in a portfolio of exploration projects, including the Wheeler River
property, along with other properties in the Athabasca Basin in Saskatchewan and in the Colorado
Plateau, Henry Mountains, Arizona Strip and White Canyon regions of the southwestern United States
in close proximity to the Company&#146;s mills.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison is the manager of Uranium Participation Corporation (&#147;UPC&#148;), a publicly traded company
which invests in uranium oxide in concentrates and uranium hexafluoride. Denison is also engaged
in mine decommissioning and environmental services through its Denison Environmental Services
(&#147;DES&#148;) division.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>SELECTED QUARTERLY FINANCIAL INFORMATION</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The following selected financial information was obtained directly from or calculated using the
Company&#146;s consolidated financial statements for the three and nine months ended September&nbsp;30, 2011
and 2010.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Results of Operations</B>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">39,883</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">60,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">89,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,518</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,332</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Basic earnings (loss)&nbsp;per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Diluted earnings (loss)&nbsp;per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">As at</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">As at</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Financial Position:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Working capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">96,459</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">133,837</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">401,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">342,164</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">556,842</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">523,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Total long-term liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">33,855</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">38,598</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 2 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>RESULTS OF OPERATIONS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>General</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company recorded net income of $15,484,000 or $0.04 per share for the three months ended
September&nbsp;30, 2011 compared with a net loss of $5,518,000 or $0.02 per share for the same period in
2010. For the nine months ended September&nbsp;30, 2011, the Company recorded a net loss of $5,332,000
or $0.01 per share compared to net income of $4,047,000 or $0.01 per share for the same period in
2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>Revenue</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">As a result of the events in Japan in March&nbsp;2011, the uranium spot market demand has declined and
the price has been trading in a range of $50.00 to $55.00 per pound. In response to these weaker
market conditions, Denison has deferred uranium sales to later in the year.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium sales revenue for the third quarter was $10,341,000 from the sale of 167,000 pounds
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at an average price of $62.04 per pound. Uranium sales for the same
period in 2010 were 706,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at an average price of $44.22 per
pound resulting in revenue of $31,228,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium sales revenue for the nine months ended September&nbsp;30, 2011 was $34,904,000 from the sale of
550,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at an average price of $63.46 per pound. Uranium sales
revenue for the same period in 2010 totaled $65,218,000 from the sale of 1,390,000 pounds
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8 </SUB>at an average price of $46.93 per pound.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Vanadium sales revenue for the three months ended September&nbsp;30, 2011 was $849,000 from the sale of
144,000 pounds of V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> equivalent at an average price of $5.89 per pound.
During the same period in 2010, vanadium sales revenue was $3,794,000 from the sale of 534,000
pounds of V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> equivalent at an average price of $7.11 per pound. For the
nine months ended September&nbsp;30, 2011, vanadium sales revenue was $11,550,000 from the sale of
1,802,000 pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> equivalent at an average price of $6.41 per pound
compared to $10,038,000 from the sale of1,375,000 pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5 </SUB>equivalent at
an average price of $7.30 per pound for the nine months ended September&nbsp;30, 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Inventory available for sale was 502,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> at September&nbsp;30, 2011.
Based on spot prices at September&nbsp;30, 2011, this inventory had a value of $26,355,000. The Company
currently has no vanadium in inventory available for sale.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Revenue from the environmental services division for the three and nine months ended September&nbsp;30,
2011 was $5,064,000 and $12,195,000 compared to $4,116,000 and $11,271,000 in the same periods in
2010. Revenue from the management contract with UPC for the three and nine months ended September
30, 2011 was $449,000 and $1,476,000 compared to $409,000 and $2,089,000 in the same periods in
2010. The decrease is due to transaction fees received in the first quarter of 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>Operating Expenses</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Milling and Mining Expenses</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The McClean Lake mill is on stand-by and Denison&#146;s share of stand-by costs for the three and
nine-months ended September&nbsp;30, 2011 totaled $181,000 and $598,000 respectively.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium and vanadium production at the White Mesa mill for the three and nine month periods are
shown below:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(Pounds)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">356,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">767,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">824,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium Production</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,045,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,290,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,956,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">As planned, conventional ore processing ceased at the end of June for maintenance work and is
planned to resume in November of 2011. Alternate feed processing is continuing.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 3 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">At September&nbsp;30, 2011, a total of 90,600 tons of conventional ore was stockpiled at the mill
containing approximately 614,000 pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> and 886,000 pounds
V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB>. The Company also had approximately 554,000 pounds
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> contained in alternate feed material stockpiled at the mill at September
30, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Production costs<SUP style="font-size: 85%; vertical-align: text-top">1</SUP> at White Mesa for the three months ended September&nbsp;30, 2011 were
$23.64 per pound U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8 </SUB>and $46.54 per pound U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8 </SUB>for the
nine months ended September&nbsp;30, 2011. Production costs were $37.42 and $38.22 per pound
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> in the three and nine months ended September&nbsp;30, 2010. Production costs
for the recent quarter are down due to the mill processing alternate feed only. For the nine-month
period, the costs are higher than last year due to a change in mill feed sources, lower vanadium
recoveries and higher reagent costs.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On November&nbsp;16, 2009, as amended on February&nbsp;1, 2010 and July&nbsp;22, 2011, the Center for Biological
Diversity, Grand Canyon Trust, Sierra Club, Kaibab Band of Paiute Indians and Havasupai Tribe (the
&#147;Plaintiffs&#148;) filed a lawsuit in the U.S. District Court for the District of Arizona against the
U.S. Secretary of the Interior and the U.S. Bureau of Land Management (&#147;BLM&#148;) (together, the
&#147;Defendants&#148;) seeking an order declaring that the Defendants have violated environmental laws in
relation to the Company&#146;s Arizona 1 mine. The District Court issued its final ruling in favor of
BLM and Denison and against the Plaintiffs on all counts. Plaintiffs now have the right to appeal
the District Court&#146;s ruling by filing a Notice of Appeal on or before December&nbsp;6, 2011. No such
Notice has been filed to date. If the Plaintiffs appeal and are successful on appeal, the Company
may be required to stop mining activities at the Arizona 1 mine pending resolution of this matter.
Any required stoppage of mining could have a significant adverse impact on the Company.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On August&nbsp;17, 2010, EPA issued a Notice of Violation under the Clean Air Act, citing four
violations of the National Emission Standards for Hazardous Air Pollutants for underground uranium
mines, relating to operations at Denison&#146;s La Sal mines complex in Utah in 2009. Those violations
were for alleged failure to obtain prior approval from EPA for the radon monitoring method used at
the site, for some gaps in data collection and reporting, and for allegedly exceeding the emission
standards at certain receptors using the prescribed air dispersion model. Denison has applied to
EPA for approval to continue to use the radon monitoring method at the site, which is the same
method used historically by the uranium mining industry. Similarly Denison does not believe the
prescribed air dispersion model is sophisticated enough to accurately calculate potential doses
from radon to nearby receptors at the La Sal mines, given the complex terrain and other factors at
the site, and has applied to EPA for approval to use a more sophisticated air dispersion model. As
a result of those applications and ongoing discussions between EPA and Denison, EPA has decided not
to pursue the two alleged violations relating to the manner of monitoring for radon at the site and
the alleged exceedances of the emission standards. The remaining two violations, which relate to
gaps in data collection and reporting, have been settled through the execution and delivery of a
Consolidated Complaint and Consent Agreement and the payment by Denison of a stipulated penalty,
which is not material in amount.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On July&nbsp;12, 2011, an Administrative Law Judge was appointed by the Executive Director of the Utah
Department of Environmental Quality (&#147;UDEQ&#148;) to conduct an adjudicative proceeding relating to a
Request for Agency Action before the Utah Air Quality Board, submitted by Uranium Watch and Living
Rivers on November&nbsp;4, 2010, as supplemented on March&nbsp;17, 2011, March&nbsp;23, 2011 and April&nbsp;7, 2011.
In their Request for Agency Action, Uranium Watch and Living Rivers allege certain deficiencies in
the applications for approval and in the approvals granted in connection with radon emissions and
monitoring at Denison&#146;s La Sal mines complex, as well as certain deficiencies in Denison&#146;s
implementation of its radon monitoring program at the mine and in UDEQ&#146;s regulation thereof.
Uranium Watch and Living Rivers request a number of agency actions, including orders that certain
approvals be withdrawn, that additional information and applications be submitted, that Denison
cease operation of certain vents, mine portals and mine shafts that allegedly have not been
properly approved, and that direct UDEQ to take certain actions to ensure compliance with
applicable regulations. Denison believes that the Request for Agency Action, as supplemented, is
without merit. Motions for summary dismissal of this action have been filed by UDEQ and Denison
under a Pre-Hearing Order that requires memoranda in opposition to be filed by Uranium Watch and
Living Rivers by November&nbsp;22, 2011 and replies to be filed by UDEQ and Denison on or before
December&nbsp;2, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On July&nbsp;28, 2011, the Southern Utah Wilderness Alliance filed a Notice of Appeal with the Interior
Board of Land Appeals (&#147;IBLA&#148;) challenging BLM&#146;s Finding of No Significant Impact (&#147;FONSI&#148;) for the
Company&#146;s recently acquired Daneros Mine project&#146;s Environmental Assessment, requesting that IBLA
set aside the FONSI and remand the Environmental Assessment to the BLM with instructions to prepare
an Environmental Impact Statement or to revise
the Environmental Assessment. Denison believes this challenge is without merit, and has filed a
Motion to Intervene. Responses must be filed by BLM and Denison, if granted status as an
intervener, in early November, 2011.
</DIV>
<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Production costs include the costs of mining the ore
fed to the mill in the period plus the costs of milling less a credit for
vanadium produced in the period and excluding depreciation and amortization,
which is a non-GAAP measure.</DIV></TD>
</TR>

</TABLE>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 4 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">





<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>Other</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Operating costs for the three and nine months ended September&nbsp;30, 2011 include recoveries of
$232,000 and $17,000 relating to the change in net realizable value on the Company&#146;s vanadium
inventory. For the three and nine months ended September&nbsp;30, 2010 operating costs include
recoveries of $3,213,000 and $13,175,000 respectively relating to the change in net realizable
value provisions of the Company&#146;s uranium and vanadium inventory. Operating costs also include
expenses relating to DES amounting to $4,825,000 for the three months and $11,660,000 for the nine
months in 2011 compared to $3,484,000 and $9,874,000 respectively for the same periods in 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>Mineral Property Exploration</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison is engaged in uranium exploration, as both operator and non-operator of joint ventures and
as operator of its own properties in Canada, the U.S., Mongolia and Zambia. For the three months
ended September&nbsp;30, 2011 exploration expenditures totaled $6,917,000 and $12,558,000 for the nine
months ended September&nbsp;30, 2011 as compared to $2,556,000 for the three months ended September&nbsp;30,
2010 and $6,050,000 for the nine months ended September&nbsp;30, 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">During the quarter, activity in the Athabasca Basin region of northern Saskatchewan was focused on
the Company&#146;s 60% owned Wheeler River project. Denison&#146;s share of exploration spending on its
Canadian properties totaled $2,541,000 for the three months ended September&nbsp;30, 2011 and totaled
$6,264,000 for the nine months ended September&nbsp;30, 2011. For the three months ended September&nbsp;30,
2010, Canadian exploration spending totaled $1,756,000 and $4,881,000 for the nine months ended
September&nbsp;30, 2010.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The 55 hole, 24,000 metre summer drilling program at Wheeler River is complete. The program
expanded Zone A and the new structures identified provide potential increases for both Zones A and
B which will be followed up in 2012. Some of the very high grade uranium intercepts included hole
WR-409 which returned 10.07% eU3O8 over 4.1 metres and WR-419 which intersected 5.1 metres grading
10.97% eU3O8, both of which were in Zone A of the Phoenix Deposits. In Zone B, WR-421 returned
19.13% eU3O8 over 2.1 metres. Based on internal estimates, Denison believes that the results from
the 2011 drill program could potentially lead to an increase in Denison&#146;s mineral resource
estimates in Zone A by 10 to 15&nbsp;million pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>. However, there has been
insufficient exploration to properly define an increase in the mineral resource estimate at this
time. Moreover, it is not certain that further exploration will result in the categorization of
additional mineral resource estimates in accordance with the requirements of National Instrument
43-101 (&#147;NI 43-101&#148;).
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Exploration expenditures of $2,802,000 and $3,771,000 for the three and nine months ended September
30, 2011 compared to $486,000 for the three months and $841,000 for the nine months ended September
30, 2010 were incurred in Mongolia on the Company&#146;s joint venture properties. Exploration and
definition drilling totaling approximately 51,000 metres was completed on GSJV licence areas in
2011. At the Hairhan, Haraat and Gurvan Saihan licence areas, drilling totaling 14,800 metres was
directed toward determining the extent of potential mineralized horizons to support delimiting
boundaries for mining licence applications. At the Ulziit project, 27,900 metres of drilling was
conducted to confirm mineralization initially discovered in 2008. Based on the 2011 drilling at
Ulziit, an initial resource estimate, in compliance with Mongolian requirements, is being prepared.
At the Urt Tsav/Hokh Tolgoi licence area, reconnaissance drilling confirmed the presence and
continuity of a mineralized channel system; further exploration is warranted on the licence. The
Company has a 70% interest in the Gurvan Saihan Joint Venture (&#147;GSJV&#148;) in Mongolia. The other
parties to the joint venture are the Mongolian Government as to 15% and Geologorazvedka, a Russian
entity, as to 15%. Under the Nuclear Energy Law, the Government of Mongolia could acquire a 34% to
51% interest at no cost to the Government. Discussions are underway with the Mongolian Government
and Geologorazvedka regarding the resolution of structure of the GSJV ownership and issuance of
mining licences.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Exploration expenditures of $1,052,000 and $1,951,000 for the three and nine months ended September
30, 2011 were incurred on the Company&#146;s Mutanga project in Zambia compared to $13,000 and $24,000
for the three and nine months ended September&nbsp;30, 2010. The Company completed Phase 2 of the 2011
drilling program. The Phase 2 drilling program was a total of approximately 9,600 metres aimed at
further delineating and expanding the mineralization in Dibwe East Zones 1 and 2. Denison intends
to prepare revised mineral resource estimates for the Mutanga Project in accordance with the
requirements of NI 43-101 early in first quarter 2012.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 5 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>General and Administrative</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">General and administrative expenses totaled $4,115,000 for the three months and $13,709,000 for the
nine months ended September&nbsp;30, 2011 compared with $3,789,000 for the three months and $10,651,000
for the nine months ended September&nbsp;30, 2010. General and administrative expenses consist
primarily of payroll and related expenses for personnel, contract and professional services, stock
option expense and other overhead expenditures. The increased expenditures in 2011 result from
costs related to the acquisition of White Canyon Uranium Limited (&#147;WCU&#148;) of $1,450,000 and an
increase in stock compensation expense.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>Other Expenses</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Other income (expense)&nbsp;totaled $15,828,000 for the three months and $9,042,000 for the nine months
ended September&nbsp;30, 2011 compared with $(3,390,000) for the three months and $9,501,000 for the
nine months ended September&nbsp;30, 2010. This consists primarily of foreign exchange gains which
totaled $15,382,000 and $8,967,000 for the three and nine months ended September&nbsp;30, 2011 compared
to losses of $5,076,000 and $4,580,000 for the three and nine months ended September&nbsp;30, 2010.
Other income in 2010 included a uranium sales contract termination fee of $11,000,000. No such
amounts were recorded in 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>Income Taxes</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">For the nine months ended September&nbsp;30, 2011, the Company has recognized deferred tax recoveries of
$13,860,000. The deferred tax recovery includes the recognition of previously unrecognized Canadian
tax assets of $1,461,000 associated with the taxation of the expired warrants during the first
quarter of 2011. It also includes the recognition of previously unrecognized U.S. tax assets of
$12,350,000 associated with the re-organization of a U.S. subsidiary acquired by the Company as
part of the WCU acquisition.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>ACQUISITION OF WHITE CANYON URANIUM LIMITED</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On June&nbsp;17, 2011, Denison&#146;s offer to acquire all of the outstanding shares of WCU closed with
96.98% of shares outstanding accepting the offer. Compulsory acquisition proceedings to acquire
the remaining shares of WCU were completed in early August, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison&#146;s cash offer of AU$0.24 per WCU share has resulted in a total purchase price of
US$61,027,000 (AU$57,163,000). Consideration for the initial 96.98% interest was paid on July&nbsp;1,
2011 and payment for the remaining shares was made in early August&nbsp;2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">WCU&#146;s key assets are located in southeastern Utah, near Denison&#146;s White Mesa mill. Its holdings
comprise 100% interests in the Daneros producing mine, the advanced Lark Royal project and the
Thompson, Geitus, Blue Jay and Marcy Look exploration projects, covering approximately 15,500 acres
in the Red Canyon district. WCU commenced production of uranium ore in December&nbsp;2009 from its 100%
owned Daneros uranium mine.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>OUTLOOK FOR 2011</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company plans to process Daneros and Arizona 1 ore commencing in November&nbsp;2011. Uranium
production is expected to be 1.2&nbsp;million pounds U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8 </SUB>and vanadium production
will be approximately 1.3&nbsp;million pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB>.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Uranium sales are expected to be approximately 1.2&nbsp;million pounds of U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>.
Vanadium sales will be approximately 1.8&nbsp;million pounds V<SUB style="font-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">5</SUB> in 2011.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 6 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>SUMMARY OF QUARTERLY FINANCIAL RESULTS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2011</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2011</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2011</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q3</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q4</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">16,993</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">26,768</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">39,232</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,749</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7,067</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(9,394</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Basic and diluted earnings (loss)
per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.04</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.03</TD>
    <TD nowrap>)</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2010</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>2009</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q3</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q2</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q1</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Q4</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">39,883</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">27,230</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">21,975</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">31,052</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,517</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,744</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7,179</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(36,127</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Basic and diluted earnings (loss)
per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.05</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.11</TD>
    <TD nowrap>)</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">These amounts have been prepared under IFRS.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">These amounts have been prepared under Canadian GAAP.</DIV></TD>
</TR>

</TABLE>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>LIQUIDITY AND CAPITAL RESOURCES</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Cash and cash equivalents were $52,764,000 at September&nbsp;30, 2011 compared with $97,554,000 at
December&nbsp;31, 2010. The decrease of $44,790,000 was due primarily to cash used in operations of
$24,108,000, the acquisition of WCU totaling $59,704,000, and expenditures on property, plant and
equipment totaling $18,999,000, offset by common share issues totaling $62,444,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Net cash used in operating activities of $24,108,000 during the nine months ended September&nbsp;30,
2011 is comprised of net loss for the period adjusted for non-cash items and for changes in working
capital items. Significant changes in working capital items during the period include a decrease
in accounts payable and accrued liabilities of $5,002,000, an increase of $26,175,000 in
inventories and a decrease of $12,120,000 in trade and other receivables.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Net cash used in investing activities was $80,988,000 consisting primarily of the acquisition of
WCU totaling $59,704,000, expenditures on property, plant and equipment of $18,999,000 and an
increase in restricted cash of $3,433,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Net cash from financing activities totaled $62,291,000 consisting primarily of $62,444,000 from the
issue of common shares less $153,000 net repayment of debt obligations.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">In total, these sources and uses of cash resulted in a net cash outflow after the effect of foreign
exchange of $44,790,000 during the period.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On June&nbsp;30, 2011 the Company put in place a revolving term credit facility (the &#147;credit facility&#148;)
for up to $35,000,000.
The amount of the facility available is the lesser of $35,000,000 and a &#147;borrowing base&#148; which is
determined quarterly based on a percentage of accounts receivable and inventory. The current
borrowing base is $35,000,000.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The credit facility contains a covenant to maintain a certain level of tangible net worth, which
must be greater than or equal to the sum of $425,000,000 plus an amount equal to (i)&nbsp;50% of each
equity issue from and including June&nbsp;30, 2011 and 50% of positive net income in each fiscal quarter
from and including June&nbsp;30, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The credit facility terminates on June&nbsp;29, 2012. There is no debt outstanding under this facility;
however $9,252,000 of the line was used as collateral for certain letters of credit at September
30, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company has provided an unlimited full recourse guarantee and a pledge of all of the shares of
Denison Mines Inc. (&#147;DMI&#148;). DMI has provided a first-priority security interest in all present and
future personal property and an assignment of its rights and interests under all material
agreements relative to the McClean Lake and Midwest projects. In addition, each of the Company&#146;s
material US subsidiaries has provided an unlimited full recourse
guarantee secured by a pledge of all of its shares and a first-priority security interest in all of
its present and future personal property. The credit facility is
subject to a standby fee of 1%.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 7 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>OFF-BALANCE SHEET ARRANGEMENTS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company does not have any off-balance sheet arrangements.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>TRANSACTIONS WITH RELATED PARTIES</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company is a party to a management services agreement with UPC. Under the terms of the
agreement, the Company will receive the following fees from UPC: a) a commission of 1.5% of the
gross value of any purchases or sales of uranium completed at the request of the Board of Directors
of UPC; b) a minimum annual management fee of CDN$400,000 (plus reasonable out-of-pocket expenses)
plus an additional fee of 0.3% per annum based upon UPC&#146;s net asset value between CDN$100,000,000
and CDN$200,000,000 and 0.2% per annum based upon UPC&#146;s net asset value in excess of
CDN$200,000,000; c) a fee of CDN$200,000 upon the completion of each equity financing where
proceeds to UPC exceed CDN$20,000,000; d) a fee of CDN$200,000 for each transaction or arrangement
(other than the purchase or sale of<SUB style="font-size: 85%; vertical-align: text-bottom"> </SUB>uranium) of business where the gross value of such
transaction exceeds CDN$20,000,000 (&#147;an initiative&#148;); e) an annual fee up to a maximum of
CDN$200,000, at the discretion of the Board of Directors of UPC, for on-going maintenance or work
associated with an initiative; and f) a fee equal to 1.5% of the gross value of any uranium held by
UPC prior to the completion of any acquisition of at least 90% of the common shares of UPC.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The following transactions were incurred with UPC for the periods noted below:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"> Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">30, 2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">30, 2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">30, 2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">30, 2010</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Management fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,476</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Commission and transaction fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">962</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,476</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,089</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">At September&nbsp;30, 2011, accounts receivable includes $165,000 due from UPC with respect to the fees
indicated above.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">On November&nbsp;18, 2010, the Company entered into a uranium concentrate loan agreement with UPC which
entitled the Company to borrow 150,000 pounds of U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> from UPC. The
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> loan was subject to a loan fee and required collateral in the form of an
irrevocable standby letter of credit. The uranium loaned was to be repaid by February&nbsp;3, 2011 or a
later date agreed to by both parties. On December&nbsp;24, 2010, the Company issued a letter of credit
in favour of UPC in the amount of $10,065,000 as collateral for the U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB>
loan. On January&nbsp;3, 2011, the Company borrowed 150,000 pounds of U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> from
UPC. On February&nbsp;3, 2011, the repayment date for the U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> loan was amended
to April&nbsp;4, 2011 and the letter of credit was increased to $12,045,000. The uranium loaned was
returned on March&nbsp;30, 2011.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">During the nine months ended September&nbsp;30, 2011, the Company has incurred management and
administrative service fees of $155,000 (2010: $59,000) with a company owned by the Chairman of the
Company which provides corporate development, office premises, secretarial and other services. At
September&nbsp;30, 2011, no amount was due to this company.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 8 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B><I>Korea Electric Power Corporation (&#147;KEPCO&#148;)</I></B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">In June&nbsp;2009, Denison completed definitive agreements with KEPCO. The agreements included a
long-term offtake agreement which provides for the delivery to KEPCO of 20% of Denison&#146;s annual
U<SUB style="font-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="font-size: 85%; vertical-align: text-bottom">8</SUB> production (&#177;10%) but not less than 350,000 pounds (&#177;10%) per year from
2010 to 2015 inclusive. KEPCO also purchased 58,000,000
common shares of Denison representing approximately 17% of the issued and outstanding capital as at
the June&nbsp;2009 share purchase. Pursuant to a strategic relationship agreement, KEPCO is entitled to
subscribe for additional common shares in Denison&#146;s future share offerings. KEPCO also has the
right to require Denison to nominate two persons designated by KEPCO to Denison&#146;s board of
directors if KEPCO holds at least a 15% share interest in Denison (or one director if KEPCO&#146;s share
interest is between 5% and 15%). Currently, KEPCO&#146;s share interest in Denison is approximately
15.08%.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>OUTSTANDING SHARE DATA</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">At November&nbsp;3, 2011, there were 384,660,915 common shares issued and outstanding and 7,569,414
stock options outstanding for a total of 392,230,329 common shares on a fully-diluted basis.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>CONTROLS AND PROCEDURES</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The Company&#146;s management is responsible for establishing and maintaining an adequate system of
internal control over financial reporting. Any system of internal control over financial
reporting, no matter how well designed, has inherent limitations. Therefore, even those systems
determined to be effective can provide only reasonable assurance with respect to financial
statement preparation and presentation.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">There has not been any change in the Company&#146;s internal control over financial reporting that
occurred during the Company&#146;s third fiscal quarter of 2011 that has materially affected, or is
reasonably likely to materially affect, the Company&#146;s internal control over financial reporting.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>NEW ACCOUNTING PRONOUNCEMENTS</B>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 9, Financial Instruments (&#147;IFRS 9&#148;)</B></DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 9 was issued in November&nbsp;2009 and contained requirements for financial assets. This
standard addresses classification and measurement of financial assets and replaces the multiple
category and measurement models in IAS 39 for debt instruments with a new mixed measurement
model having only two categories: amortized cost and fair value through profit or loss. IFRS 9
also replaces the models for measuring equity instruments, and such instruments are either
recognized at fair value through profit or loss or at fair value through other comprehensive
income. Where such equity instruments are measured at fair value through other comprehensive
income, dividends are recognized in profit or loss to the extent not clearly representing a
return of investment; however, other gains and losses (including impairments) associated with
such instruments remain in accumulated comprehensive income indefinitely.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">Requirements for financial liabilities were added in October&nbsp;2010 and they largely carried
forward existing requirements in IAS 39, Financial Instruments &#151; Recognition and Measurement,
except that fair value changes due to credit risk for liabilities designated at fair value
through profit and loss would generally be recorded in other comprehensive income.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">This standard is required to be applied for accounting periods beginning on or after January&nbsp;1,
2013, with earlier adoption permitted. The Company has not yet assessed the impact of the
standard or determined whether it will adopt the standard early.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 10, Consolidated Financial Statements (&#147;IFRS 10&#148;)</B></DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 10 was issued in May&nbsp;2011 and it establishes principles for the presentation and
preparation of consolidated financial statements when an entity controls one or more other
entities. IFRS 10 replaces the consolidation requirements in SIC-12 Consolidation&#151;Special
Purpose Entities and IAS 27 Consolidated and Separate Financial Statements.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">This standard is effective for annual periods beginning on or after 1 January&nbsp;2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 9 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 11, Joint Arrangements (&#147;IFRS 11&#148;)</B></DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 11 was issued in May&nbsp;2011 and it provides for a more realistic reflection of joint
arrangements by focusing on the rights and obligations of the arrangement, rather than its legal
form. The standard addresses inconsistencies in the reporting of joint arrangements by
requiring a single method to account for interests in jointly controlled entities. IFRS 11
supersedes IAS 31 Interests in Joint Ventures and SIC-13 Jointly Controlled Entities &#151;
Non-Monetary Contributions by Ventures.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 12, Disclosure of Interest in Other Entities
(&#147;IFRS 12&#148;)</B></DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 12 was issued in May&nbsp;2011 and it is a new and comprehensive standard on disclosure
requirements for all forms of interests in other entities, including subsidiaries, joint
arrangements, associates and unconsolidated structured entities.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 13, Fair Value Measurement (&#147;IFRS 13&#148;)</B></DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 13 was issued in May&nbsp;2011 and establishes new guidance on fair value measurement and
disclosure requirements for IFRS and completes a major project to improve the convergence of
IFRS and US GAAP.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>International Financial Reporting Standards (IFRS)</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Effective January&nbsp;1, 2011, the Company adopted IFRS for Canadian publicly accountable enterprises.
The interim consolidated financial statements for the third quarter of 2011 have been prepared in
accordance with IFRS including comparative amounts for 2010. Details of the accounting differences
can be found in note 4 to our interim financial statements.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Although IFRS has a conceptual framework that is similar to previous Canadian GAAP, there are
significant differences in recognition, measurement and disclosure. The transition to the IFRS
framework has resulted in several changes to our accounting policies that impact our financial
reporting. The following are the more significant accounting differences:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Impairment of Non Current Assets</I>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Under Canadian GAAP, long-lived asset impairment testing is done using a two-step approach whereby
long-lived assets are first tested for recoverability based on the undiscounted cash flows they are
expected to generate. If the undiscounted cash flow expected to be generated is higher than the
carrying amount, then no impairment charge is required to be recorded. If the undiscounted cash
flow is lower than the carrying amount of the assets, the assets are written down to their
estimated fair value. Under IFRS, impairment testing is done using a one-step approach for both
testing and measurement of impairment, with asset carrying amounts compared directly with the
higher of fair value less costs to sell and value in use. This may result in more frequent
write-downs where carrying amounts of assets were previously supported under Canadian GAAP on an
undiscounted cash flow basis, but could not be supported on a discounted basis. However, the
extent of any asset write-downs may be partially offset by the requirement under IFRS to reverse
any previous impairment losses where circumstances have changed such that the impairments have
reduced. Canadian GAAP does not permit reversal of impairment losses.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The opening balances of our property, plant and equipment assets have been adjusted to reflect
impairment amounts calculated in accordance with IFRS. Since we have decided to use the IFRS 1
election to record assets, on an item by item basis, at fair value on transition, there will be no
subsequent reversal of the impairments that have been included in the IFRS opening balances.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 10 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Asset Retirement Obligations</I>

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Under Canadian GAAP, we record an asset retirement obligation (&#147;ARO&#148;) only if there is a legal
requirement to incur restoration costs. Under IFRS, the threshold for recording a liability is a
legal or constructive obligation. Consequently, it is possible under IFRS to be required to record
an ARO greater than what is required under Canadian GAAP. This requirement did not result in any
adjustments to the provision accounts included in the IFRS opening balances.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Foreign
Currency Translation</I><BR><br>
Items included in the financial statements of each consolidated entity in the Denison group are
measured using the currency of the primary economic environment in which the entity operated (&#147;the
functional currency&#148;). Primary and secondary indicators are used to determine the functional
currency (primary indicators have priority over secondary indicators). Primary indicators include
the currency that mainly influences sales prices and the currency that mainly influences labour,
material and other costs. Secondary indicators include the currency in which funds from financing
activities are generated and the currency in which receipts from operating activities are usually
retained. For our Canadian, U.S., Zambian and Mongolian entitles, the local currency has been
determined to be the functional currency.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The consolidated financial statements are presented in US dollars, which is the Company&#146;s reporting
currency.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The financial statements of entities that have a functional currency that is different than the
reporting currency are translated into US dollars as follows: assets and liabilities at the
closing rate at the date of the statement of financial position; and income and expenses &#151; at the
quarterly average rates (as this is considered a reasonable approximation to actual transactional
rates). All resulting changes are recognized in other comprehensive income as cumulative
translation adjustments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Flow-Through Shares</I>

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Under Canadian GAAP, where flow-through shares are issued, they are initially recorded in share
capital at their issue price. When the issuing entity renounces the associated deductions (by
filing the prescribed forms) to the investors, the tax effect of the resulting temporary difference
is recorded as a cost of issuing the shares (a reduction in share capital). Under IFRS, the
proceeds from issuing flow-through shares are allocated between the offering of shares and the sale
of tax benefits. The allocation is based on the difference (&#147;premium&#148;) between the quoted price of
the company&#146;s shares at the flow-through share closing date and the amount the investor pays for
the actual flow-through shares. A liability is recognized for the premium and is extinguished when
the tax effect of the temporary differences, resulting from the renunciation, is recorded &#151; with
the difference between the liability and the value of the tax assets renounced being recorded as a
deferred tax expense. If the flow-through shares are not issued at a premium, a liability is not
established, and on renunciation the full value of the tax assets renounced is recorded as a
deferred tax expense.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><I>Income Taxes</I>

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The accounting for future or deferred income taxes is fundamentally similar to the current Canadian
GAAP standard. However, there are some specific differences that impact deferred tax balances or
the amount reported in profit or loss for deferred taxes. Under Canadian GAAP, the cost (benefit)
of current and deferred income taxes is typically recognized as income or an expense, and included
in profit or loss for the period &#151; except, amongst other items, where any portion of the
cost(benefit) relates to a capital transaction in the same period or an item that is credited or
charged directly to equity in the same period. Under IFRS, if the transaction that gives rise to a
temporary difference is recorded directly in equity, then the cost(benefit) of current and deferred
income taxes, whether in the same or a subsequent period, is also recorded directly in equity
(rather than in profit or loss).
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Under Canadian GAAP, where an asset is acquired (other than in a business combination) and the tax
basis is less than the cost of the asset, a deferred tax liability is recognized on the asset
acquisition, and is added to the cost of the asset through a gross-up calculation. IFRS does not
permit the recognition of a deferred tax liability on the initial recognition of an asset, in a
transaction that is not a business combination. When Denison acquired OmegaCorp. Limited (&#147;Omega&#148;)
in 2007, the transaction was treated as an asset acquisition, with the majority of the fair value
allocated to the Mutanga project mineral property resources. As a result, for Canadian GAAP
purposes, a future tax liability was recognized and the carrying amount of the asset was increased
to arrive at the purchase price of net assets. Under IFRS, the future tax liability in respect of
Omega has been eliminated, and the carrying value of the asset has been adjusted accordingly. The
carrying value of our deferred tax balances have also changed to the extent that the accounting
basis of various assets and liabilities have been adjusted as part of the IFRS conversion.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 11 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>First-time adoption of IFRS</I>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Denison&#146;s transition to IFRS follows IFRS 1, which offers the possibility to utilize certain
exemptions from full retrospective application of IFRS. The Company evaluated the options
available in IFRS 1 and elected to adopt transitional implementation policies in the areas of
business combinations, cumulative translation differences and fair value as a deemed cost election.
A summary of these transitional accounting policies is given below.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Business Combinations</DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">The Company elected to utilize the option in IFRS 1 to not apply IFRS 3 retrospectively to
business combinations completed prior to January&nbsp;1, 2010. The impact of this policy
decision is that all prior business combinations will continue to be accounted for as they
originally were under Canadian GAAP.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Cumulative Translation Differences</DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 1 provides the option to reset the cumulative translation account within other
comprehensive income to zero as of the date of transition to IFRS as an alternative to
calculating the retrospective cumulative translation adjustments required to be in
compliance with the principles of IAS 21 for the periods prior to transition.
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Property, Plant and Equipment</DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%">IFRS 1 provides the option to record assets, on an item by item basis, at fair value on
transition or at an earlier date as an alternative to full retrospective application of IFRS
in accounting for the assets. Denison chooses to adopt this transition policy on an asset
by asset basis for its property, plant and equipment and its mineral property assets.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Adoption of IFRS 6 for Exploration and Evaluation Expenditures</I><BR>
Denison elected to adopt the provisions of IFRS 6 which allow the Company to continue with the
current accounting policies regarding the accounting for exploration and evaluation expenditures.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The current policy is to expense exploration expenditures on mineral properties not sufficiently
advanced. At the point in time that a mineral property is considered to be sufficiently advanced,
it is classified as a development mineral property and all further expenditures for the current
year and subsequent years are capitalized as incurred.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><I>Comparison between IFRS and CGAAP of Selected Financial Information and Key Financial Data</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Three months and nine months ended September&nbsp;30, 2010
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine month</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">2010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">IFRS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">CGAAP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">IFRS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">CGAAP</TD>
    <TD>&nbsp;</TD>
</TR>


<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,518</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(9,521</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,938</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Basic earnings
(loss)&nbsp;per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.03</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shareholders&#146; Equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405,393</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">735,599</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405,393</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">735,599</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">460,023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">879,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">460,023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">879,115</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Equity Ratio</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">88.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">83.7</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">88.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">83.7</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Refer to Note 4 of the financial statements for the detailed reconciliation of the balances.
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>RISK FACTORS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">There are a number of factors that could negatively affect Denison&#146;s business and the value of
Denison&#146;s common shares, including the factors listed in the Company&#146;s Annual Information Form
dated March&nbsp;28, 2011 and in the Company&#146;s annual MD&#038;A dated March&nbsp;10, 2011, both available at
www.sedar.com, and in the Company&#146;s Form 40-F available at www.sec.gov/edgar.shtml.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 12 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Management&#146;s Discussion and Analysis<BR>
Nine Months Ended September&nbsp;30, 2011<BR>
(Expressed in U.S. Dollars, Unless Otherwise Noted)

</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>QUALIFIED PERSON</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">The disclosure of scientific and technical information regarding Denison&#146;s properties in the MD&#038;A
was prepared by or under the supervision of Lawson Forand, the Company&#146;s Exploration Manager
Saskatchewan, and Terry Wetz, Director of Project Development, who are Qualified Persons in
accordance with the requirements of NI 43-101.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 13 -<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>c24594exv99w6.htm
<DESCRIPTION>EXHIBIT 6
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 6</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;6</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><IMG src="c24594c2459402.gif" alt="(DENISON MINES LOGO)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt">DENISON MINES CORP.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt">Financial Statements<BR>
for the nine months ended<BR>
September&nbsp;30, 2011
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>

<!-- xbrl,bs -->
Condensed Interim Consolidated Balance Sheets<BR>
<!-- xbrl,body -->
(Unaudited &#151; Expressed in thousands of U.S. dollars)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">52,764</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">97,554</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other receivables (note 6)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,134</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,236</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories (note 7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,133</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,342</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,910</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">110,850</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">148,833</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories &#151; ore in stockpiles (note 7)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,091</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,204</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments (note 8)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">558</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,955</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Restricted cash and investments (note 9)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,828</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,946</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment (note 10)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">401,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">342,164</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangibles (note 11)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,350</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">556,842</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">523,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounts payable and accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,868</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,753</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current portion of long-term liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,427</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Post-employment benefits (note 12)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">382</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Reclamation obligations (note 13)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">641</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Debt obligations (note 14)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,391</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,996</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,339</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Post-employment benefits (note 12)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,395</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,617</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation obligations (note 13)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,756</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,924</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Debt obligations (note 14)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">205</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other long-term liabilities (note 15)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,105</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax liability (note 22)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,515</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,408</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,246</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,594</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share capital (note 16)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">974,314</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">911,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share purchase warrants (note 17)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contributed surplus (note 18)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,477</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,658</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deficit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(514,159</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(508,827</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accumulated other comprehensive income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(36</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,067</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">508,596</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">469,409</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities and equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">556,842</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">523,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Issued and outstanding common shares
(note 16)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">384,660,915</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">366,200,665</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Commitments and contingencies (note 23)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 10pt">The accompanying notes are integral to the condensed interim consolidated financial statements
</DIV>
<!-- /xbrl,bs -->

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 1 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">





<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
<!-- xbrl,in -->
Condensed Interim Consolidated Statement of Income (Loss) and Comprehensive Income (Loss)<BR>
<!-- xbrl,body -->

(Unaudited &#151; Expressed in thousands of U.S. dollars except for per share amounts)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>REVENUES </B>(note 20)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">39,883</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">60,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">89,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>EXPENSES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses (note 19)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,713</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(35,927</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(63,841</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(79,118</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral property exploration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,917</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,556</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,558</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,050</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,115</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,789</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,709</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,651</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other income (expense) (note 19)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,828</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,390</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,042</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,501</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,917</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(45,662</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(81,066</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(86,318</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income (loss)&nbsp;before finance charges</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,116</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,779</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(20,272</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,770</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finance income (expense) (note 19)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">146</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,111</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">478</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income (loss)&nbsp;before taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,455</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,633</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,161</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,248</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income tax recovery (expense) (note 22):</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(355</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(31</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(314</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,029</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">470</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,860</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,113</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)&nbsp;for the period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">15,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,518</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,332</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Comprehensive income (loss):</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Unrealized gain (loss)&nbsp;on investments change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(313</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(603</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,352</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,451</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign currency translation change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(31,527</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,726</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(17,751</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,373</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Comprehensive income (loss)&nbsp;for the period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(16,356</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,605</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(24,435</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,969</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net earnings (loss)&nbsp;per share:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Diluted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.02</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0.01</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD><DIV style="margin-left:15px; text-indent:-15px">Weighted-average number of shares outstanding (in thousands):</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Basic</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">384,661</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">339,720</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">377,015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">339,720</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Diluted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">384,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">339,720</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">377,584</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">339,720</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="center" style="font-size: 10pt; margin-top: 10pt">The accompanying notes are integral to the condensed interim consolidated financial statements
</DIV>
<!-- /xbrl,in -->

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 2 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">





<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
<!-- xbrl,se -->
Condensed Interim Consolidated Statement of Changes in Equity<BR>
<!-- xbrl,body -->

(Unaudited &#151; Expressed in thousands of U.S. dollars)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Share capital</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">911,681</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">850,336</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share issues-net of issue costs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,116</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employee share option exercises-cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">328</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employee share option exercises&#151;non-cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">189</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">974,314</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">850,332</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Share purchase warrants</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrant expiries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,830</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Contributed surplus</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,658</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,922</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stock-based compensation expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,639</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,237</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employee share option exercises-non-cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(189</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrant expiries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrant expiries&#151;tax effect</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,461</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,477</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Deficit</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(508,827</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(503,481</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,332</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(514,159</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(499,434</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Accumulated other comprehensive income</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,067</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,584</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unrealized gain (loss)&nbsp;on investments change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,352</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,451</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign currency translation change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(17,751</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,373</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(36</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,506</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total Equity</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">469,409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">396,191</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance&#151;end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">508,596</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">405,393</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<!-- /xbrl,se -->


<DIV align="center" style="font-size: 10pt; margin-top: 10pt">The accompanying notes are integral to the condensed interim consolidated financial statements
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 3 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">




<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>

<!-- xbrl,cf -->

Condensed Interim Consolidated Statements of Cash Flow<BR>
<!-- xbrl,body -->

(Unaudited &#151; Expressed in thousands of U.S. dollars)

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>CASH PROVIDED BY (USED IN):</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>OPERATING ACTIVITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)&nbsp;for the period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,332</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Items not affecting cash:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Depletion, depreciation, amortization and accretion</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,572</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36,633</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investments impairment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">896</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">181</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Stock-based compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,639</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,237</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Losses (gains)&nbsp;on asset disposals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(81</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,069</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Losses (gains)&nbsp;on restricted investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(421</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(502</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-cash inventory adjustments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">679</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,848</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred income tax expense (recovery)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,860</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,113</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,967</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,580</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net change in non-cash working capital items:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Trade and other receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,120</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">547</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(26,175</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,506</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Prepaid expenses and other assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">569</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">309</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts payable and accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,002</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,708</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Post-employment benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(238</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(178</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Reclamation obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(595</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(797</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">203</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash provided by (used in) operating activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(24,108</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28,432</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>INVESTING ACTIVITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition of a business, net of cash and cash
equivalents acquired (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(59,704</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Decrease (increase)&nbsp;in notes receivable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">792</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(22</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Purchase of investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(17</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds on sale of investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,999</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expenditures on property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(18,999</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(22,048</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds on sale of property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">356</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,530</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Decrease (increase)&nbsp;in restricted cash and
investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,433</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(934</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash used in investing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(80,988</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,492</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>FINANCING ACTIVITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase (decrease)&nbsp;in debt obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(153</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(747</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Issuance of common shares for:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">New share issues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,116</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Exercise of stock options</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">328</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash provided by (used in) financing activities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,291</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(747</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Increase (decrease)&nbsp;in cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(42,805</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,193</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign exchange effect on cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,985</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">109</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents, beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">97,554</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,804</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents, end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">52,764</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">33,106</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<!-- /xbrl,cf -->


<DIV align="center" style="font-size: 10pt; margin-top: 10pt">The accompanying notes are integral to the condensed interim consolidated financial statements
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 4 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl,ns -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>DENISON MINES CORP.</B><BR>
Notes to the Condensed Interim Consolidated Financial Statements for the Three Months and Nine<BR>
Months ended September&nbsp;30, 2011 and 2010<BR>
(Unaudited &#151; Expressed in thousands of U.S. dollars)

</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>1.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>NATURE OF OPERATIONS</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Denison Mines Corp. (&#147;DMC&#148;) is incorporated under the Business Corporations Act (Ontario)
(&#147;OBCA&#148;). The address of its registered head office is 595 Bay Street, Suite&nbsp;402, Toronto,
Ontario, Canada, M5G 2C2. DMC and its subsidiary companies and joint ventures (collectively,
the &#147;Company&#148; or &#147;Denison&#148;) are engaged in uranium mining and related activities, including
acquisition, exploration and development of uranium bearing properties, extraction, processing
and selling of uranium. The environmental services division of the Company provides mine
decommissioning and decommissioned site monitoring services for third parties.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has a 100% interest in the White Mesa mill located in Utah, United States and a
22.5% interest in the McClean Lake mill located in the Athabasca Basin of Saskatchewan, Canada.
The Company has interests in a number of nearby mines at both locations, as well as interests in
development and exploration projects located in Canada, the United States, Mongolia and Zambia,
some of which are operated through joint ventures and joint arrangements. Uranium, the
Company&#146;s primary product, is produced in the form of uranium oxide concentrates
(&#147;U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB>&#148;) and sold to various customers around the world for further
processing. Vanadium, a co-product of some of the Company&#146;s mines is also produced and is in
the form of vanadium pentoxide (&#147;V<SUB style="FONT-size: 85%; vertical-align: text-bottom">2</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">5</SUB>&#148;). The Company is also in the
business of processing uranium bearing waste materials, referred to as &#147;alternate feed
materials&#148;.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Denison Mines Inc. (&#147;DMI&#148;), a subsidiary of DMC, is the manager of Uranium Participation
Corporation (&#147;UPC&#148;), a publicly-listed investment holding company formed to invest substantially
all of its assets in U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB> and uranium hexafluoride (&#147;UF<SUB style="FONT-size: 85%; vertical-align: text-bottom">6</SUB>&#148;).
The Company has no ownership interest in UPC but receives various fees for management services
and commissions from the purchase and sale of U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8 </SUB>and UF<SUB style="FONT-size: 85%; vertical-align: text-bottom">6</SUB> by
UPC.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>2.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>BASIS OF PRESENTATION AND ADOPTION OF IFRS</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">These unaudited consolidated financial statements have been prepared by management in U.S.
dollars in accordance with Canadian generally accepted accounting principles as set out in the
Handbook of the Canadian Institute of Chartered Accountants (&#147;CICA Handbook&#148;). In 2010, the
CICA Handbook was revised to incorporate International Financial Reporting Standards (&#147;IFRS&#148;),
and require publicly accountable enterprises to apply such standards effective for years
beginning on January&nbsp;1, 2011. Accordingly, the Company has commenced reporting on this basis in
its 2011 interim consolidated financial statements. In these interim financial statements, the
term &#147;Canadian GAAP&#148; refers to Canadian GAAP before the adoption of IFRS.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">These interim consolidated financial statements have been prepared in accordance with IFRS
applicable to the preparation of interim financial statements, including IAS 34 Interim
Financial Reporting and IFRS 1 First-time Adoption of International Financial Reporting
Standards. The interim consolidated statement of income (loss)&nbsp;for the nine month period ended
September&nbsp;30, 2011 is not necessarily indicative of the operating results for the full year,
primarily due to the timing of concentrate deliveries to customers. The accounting policies
followed in these interim financial statements are the same as those applied in the Company&#146;s
interim financial statements for the period ended March&nbsp;31, 2011. The Company has consistently
applied the same accounting policies throughout all periods presented, as if these policies had
always been in effect. Note 4 discloses the impact of the transition to IFRS on the Company&#146;s
reported financial position as at September&nbsp;30, 2010 and comprehensive income for the three and
nine months ended September&nbsp;30, 2010, including the nature and effect of significant changes in
accounting policies from those used in the Company&#146;s consolidated financial statements for the
year ended December&nbsp;31, 2010.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The accounting policies applied in these condensed interim consolidated financial statements are
based on IFRS effective for the year ending December&nbsp;31, 2011, as issued and outstanding as of
November&nbsp;3, 2011, the date the Board of Directors approved the statements. Any subsequent
changes to IFRS that are given effect in the Company&#146;s annual consolidated financial statements
for the year ending December&nbsp;31, 2011 could result in restatement of these interim consolidated
financial statements, including the transition adjustments recognized on change-over to IFRS.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The condensed interim consolidated financial statements should be read in conjunction with the
Company&#146;s Canadian GAAP annual financial statements for the year ended December&nbsp;31, 2010 and the
Company&#146;s interim
financial statements for the quarter ended March&nbsp;31, 2011 prepared in accordance with IFRS
applicable to interim financial statements.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 5 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>3.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</B></DIV></TD>
</TR>
<!-- xbrl,body -->

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Significant Accounting Policies</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The significant accounting policies followed in these interim financial statements are the same
as those applied in the Company&#146;s interim financial statements for the period ended June&nbsp;30,
2011. In accounting for business combinations, the Company uses the following accounting
policy:</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Business combinations</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">A business combination is defined as an acquisition of assets and liabilities that constitute a
business. A business consists of inputs, including non-current assets, and processes, including
operational processes, that when applied to those inputs, have the ability to create outputs
that provide a return to the Company and its shareholders. A business also includes those
assets and liabilities that do not necessarily have all the inputs and processes required to
produce outputs, but can be integrated with the inputs and processes of the Company to create
outputs.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Business combinations are accounted for using the acquisition method whereby identifiable assets
acquired and liabilities assumed, including contingent liabilities, are recorded at 100% of
their acquisition-date fair values. The acquisition date is the date the Company acquires
control over the acquiree. The Company considers all relevant facts and circumstances in
determining the acquisition date.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Acquisition related costs, other than costs to issue debt or equity securities of the acquirer,
including investment banking fees, legal fees, accounting fees, valuation fees and other
professional or consulting fees are expensed as incurred.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">If the initial accounting for a business combination is incomplete by the end of the reporting
period in which the combination occurs, the Company reports in its financial statements
provisional amounts for the items for which the accounting is incomplete. During the
measurement period, the Company will retrospectively adjust the provisional amounts recognized
at the acquisition date to reflect new information obtained about facts and circumstances that
existed as of the acquisition date and, if known, would have affected the measurement of the
amounts recognized as of that date. The maximum length of time for the measurement period is
one year from the acquisition date.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Accounting Standards Issued but not yet Adopted</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The following items are the key accounting standards that have been issued by the IASB but not
yet applied by the Company:</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(a)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 9, Financial Instruments (&#147;IFRS 9&#148;)</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IFRS 9 was issued in November&nbsp;2009 and contained requirements for financial assets. This
standard addresses classification and measurement of financial assets and replaces the
multiple category and measurement models in IAS 39 for debt instruments with a new mixed
measurement model having only two categories: amortized cost and fair value through profit
or loss. IFRS 9 also replaces the models for measuring equity instruments, and such
instruments are either recognized at fair value through profit or loss or at fair value
through other comprehensive income. Where such equity instruments are measured at fair
value through other comprehensive income, dividends are recognized in profit or loss to the
extent not clearly representing a return of investment; however, other gains and losses
(including impairments) associated with such instruments remain in accumulated comprehensive
income indefinitely.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Requirements for financial liabilities were added in October&nbsp;2010 and they largely carried
forward existing requirements in IAS 39, Financial Instruments &#151; Recognition and
Measurement, except that fair value changes due to credit risk for liabilities designated at
fair value through profit and loss would generally be recorded in other comprehensive
income.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">This standard is required to be applied for accounting periods beginning on or after January
1, 2013, with earlier adoption permitted. The Company has not yet assessed the impact of
the standard or determined whether it will adopt the standard early.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 6 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(b)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 10, Consolidated Financial Statements (&#147;IFRS
10&#148;)</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IFRS 10 was issued in May&nbsp;2011 and it establishes principles for the presentation and
preparation of consolidated financial statements when an entity controls one or more other
entities. IFRS 10 replaces the consolidation requirements in SIC-12 Consolidation&#151;Special
Purpose Entities and IAS 27 Consolidated and Separate Financial Statements.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">This standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 11, Joint Arrangements (&#147;IFRS 11&#148;)</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IFRS 11 was issued in May&nbsp;2011 and it provides for a more realistic reflection of joint
arrangements by focusing on the rights and obligations of the arrangement, rather than its
legal form. The standard addresses inconsistencies in the reporting of joint arrangements
by requiring a single method to account for interests in jointly controlled entities. IFRS
11 supersedes IAS 31 Interests in Joint Ventures and SIC-13 Jointly Controlled Entities -
Non-Monetary Contributions by Ventures.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(d)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 12, Disclosure of Interest in Other Entities
(&#147;IFRS 12&#148;)</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IFRS 12 was issued in May&nbsp;2011 and it is a new and comprehensive standard on disclosure
requirements for all forms of interests in other entities, including subsidiaries, joint
arrangements, associates and unconsolidated structured entities.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>(e)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>International Financial Reporting Standard 13, Fair Value Measurement (&#147;IFRS 13&#148;)</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IFRS 13 was issued in May&nbsp;2011 and it establishes new guidance on fair value measurement and
disclosure requirements for IFRS and completes a major project to improve the convergence of
IFRS and US GAAP.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The standard is effective for annual periods beginning on or after January&nbsp;1, 2013. Earlier
application is permitted. The Company has not yet assessed the impact of the standard or
determined whether it will adopt the standard early.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>TRANSITION TO IFRS</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">These financial statements were prepared as described in note 2, including the application of
IFRS 1. IFRS 1 sets out the procedures that the Company must follow when it adopts IFRS for the
first time as the basis for preparing its consolidated financial statements. The Company is
required to establish its IFRS accounting policies for 2011 and, in general, apply these
retrospectively to determine the IFRS opening balance sheet as at the transition date of
January&nbsp;1, 2010. The IFRS accounting policies for 2011 include both IFRS in effect currently or
those standards expected to be in effect as of December&nbsp;31, 2011.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">IFRS 1 also requires that comparative financial information be provided. As a result, the first
date at which the Company has applied IFRS was January&nbsp;1, 2010 (the &#147;Transition Date&#148;). IFRS 1
requires first-time adopters to retrospectively apply all effective IFRS standards as of the
reporting date, December&nbsp;31, 2011. The standard also permits a number of optional and mandatory
exemptions from full retrospective application.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company is required to use the following mandatory exemptions as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Estimates cannot be created or revised using hindsight. The estimates previously made
by the Company under Canadian GAAP (&#147;CGAAP&#148;) were not revised for the application of
IFRS except where necessary to reflect any difference in accounting policies.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For non-controlling interests, IFRS 1 lists specific requirements of IAS 27
Consolidated and Separate Financial Statements which are applied prospectively.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 7 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has elected to use the following optional exemptions and has made the following
adjustments to transition from Canadian GAAP to IFRS:</DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%"><I>a) Business Combinations</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The Company elected to apply IFRS relating to business combinations prospectively from
January&nbsp;1, 2010. As such, Canadian GAAP balances relating to business combinations entered
into before that date have been carried forward.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">b) <I>Cumulative Translation Adjustment</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The Company has elected to reset the cumulative translation adjustment account, which
includes gains and losses arising from the translation of foreign operations, to zero at the
date of transition to IFRS as an alternative to calculating the retrospective cumulative
translation adjustments required to be in compliance with the principles of IAS 21 for the
periods prior to transition.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">c) <I>Impairment testing under IAS 36 and IFRS 1 elections</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">In accordance with IAS 36, the Company performed impairment tests of its Canadian and United
States Cash Generating Units (CGU)&nbsp;which includes inventories, mineral properties, plant and
equipment, goodwill and reclamation liabilities. The Company estimated fair values using a
combination of a discounted cash flow model using the fair value less cost to sell basis (at
a discount rate of 10%) and independent valuations to determine the recoverable amount of
these CGUs. The recoverable amounts determined for both CGUs were less than the carrying
amounts. For the Canadian CGU, the carrying value of the mineral properties and plant and
equipment were reduced to estimated fair value and, as a result, the carrying value of
goodwill was fully written off. For the United States CGU, the carrying values of the
plant and equipment and mineral properties were reduced to estimated fair value.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">IFRS 1 allows an entity to elect to measure an item of property, plant and equipment at the
date of transition to IFRS at its fair value and use that fair value as its deemed cost at
that date. The first time adopter may elect to use a previous CGAAP revaluation of an item
of property, plant and equipment at, or before, the date of transition to IFRS as deemed
cost at the date of the revaluation, if the revaluation was, at the date of the revaluation,
broadly comparable to fair value. The Company has elected to take the lower of cost or fair
value of certain of its property, plant and equipment as deemed cost based on appraisal
reports prepared by independent third party valuators.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The Company wrote down the carrying value of its Zambian mineral properties to its fair
value in the 2009 fiscal year as part of its impairment assessment under Canadian GAAP. The
fair value was calculated using most recent comparable transactions at such point in time.
This fair value has been used as the &#145;deemed cost&#146; going forward upon transition to IFRS.
The impact of this is that no reversal of impairment loss previously taken would be required
even if there was an increase in fair value in subsequent periods. There are no other
significant assets in the Zambian CGU.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">As a result of the transition to IFRS and the reduction of the carrying amounts of PP&#038;E and
mineral properties, management recognized the related decrease in deferred tax liability as
of January&nbsp;1, 2010.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">A summary of the impairment charges recorded by each CGU on January&nbsp;1, 2010, by asset class,
is as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canadian</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">United States</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Segment</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Segment</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,009</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">927</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,936</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Mineral properties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">252,267</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59,645</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">311,912</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51,028</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51,028</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Transitional impairment loss-pre tax</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">316,304</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">60,572</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">376,876</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The Company amortizes its mineral property assets on a units of production basis and
includes that amount in the valuation of work-in-progress and concentrate inventories.
Since the value of the Company&#146;s mineral property assets is less under IFRS than Canadian
GAAP, the amount amortized to inventory is also less. As a result the carrying value of
inventory also tends to be less to reflect the lower mineral property amortization cost.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 8 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The lower carrying values for the Company&#146;s inventory under IFRS also result in lower net
realizable value adjustments being recorded in a particular period when compared to Canadian
GAAP.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%"><I>d) Adoption of IFRS 6 for Exploration and Evaluation Expenditures</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The Company has elected to adopt the provisions of IFRS 6 which allow the Company to
continue with the current accounting policies regarding the accounting for exploration and
evaluation expenditures, with the exception of capitalizing a portion of its exploration
spending. Under Canadian GAAP, the Company capitalized a portion of its exploration
spending as a component of its carrying value of mineral properties.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">Under IFRS, this practice has been discontinued and mineral property exploration expense has
increased accordingly. This adjustment has impacted the cash flow split between operating
and investing activities for IFRS when compared to Canadian GAAP.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%"><I>e) Change in foreign exchange translation methodology</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">Under Canadian GAAP, the Company used the temporal method of foreign exchange translation
for its fully-integrated subsidiaries. This included its Zambian and Australian
subsidiaries. Under the temporal method, non-monetary assets were converted to the
presentation currency using historical foreign exchange rates and the resulting difference
between the translation of the balance sheet and income statement was recorded in the
statement of operations.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">Under IFRS, the temporal method is not recognized and translation occurs using the
equivalent of the current rate method under Canadian GAAP. Under this method, all assets
and liabilities are treated as monetary and translated to the presentation currency using
the foreign exchange rate at the end of the reporting period. Differences between the
translation of the balance sheet and the statement of operations are accumulated in an
account in equity. The change in translation methodology has resulted in some significant
changes in the presentation currency amounts for the Company&#146;s Zambian subsidiary and has
also resulted in the reversal of translation foreign exchange income (expense)&nbsp;in the
statement of income (loss).
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%"><I>f) Acquisition of OmegaCorp Limited</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The Company completed the acquisition of OmegaCorp Limited in 2007 under which it acquired
its Zambian subsidiary. Under Canadian GAAP at the time, the Company treated the
transaction as an asset acquisition and was required to gross-up the Mutanga project mineral
property value and the deferred tax liability by an equal and offsetting amount. In 2009,
the Company impaired the value of the Mutanga project to its fair value at the time. As at
January&nbsp;1, 2010, a portion of the deferred tax liability associated with the initial
acquisition of the Mutanga project in 2007 still remained under Canadian GAAP. This
remaining deferred tax liability has been reversed on the transition to IFRS as IAS 12 does
not permit the recognition of a deferred tax liability on the initial recognition of an
asset in a transaction that is not a business combination.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%"><I>g) Flow-through share accounting</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">Under Canadian GAAP, the Company would record the gross proceeds relating to flow-through
 shares to share capital at the time of issuance. It would then record a charge (reduction)
to share capital at the time the tax benefits of the flow-through shares were renounced to
the subscribers. The charge was calculated by multiplying the amount of the renounced tax
benefits (which are equal to the proceeds of the flow-through share issue) by the effective
tax rate at the time. The offset would go to the deferred tax liability to reflect the fact
that the Company could no longer use the tax attributes for its benefit.
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">Under IFRS, the proceeds from issuing flow-through shares are allocated between the offering
of shares and the sale of tax benefits. The allocation is based on the difference
(&#147;premium&#148;) between the quoted price of the Company&#146;s existing shares, at the date of
closing, and the amount the investor pays for the actual flow-through shares. A liability
is recognized for the premium, and is extinguished when the tax effect of the temporary
differences, resulting from the renunciation, is recorded. The difference between the
liability and the value of the tax assets renounced is recorded as a deferred tax expense.
There is no subsequent reduction in share capital.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 9 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%"><I>h) Other transitional items</I>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 8%">The income statement has been adjusted for the following additional items not discussed
above:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Depreciation expense &#151; increase due to componentization adjustments on assets at
the McClean Lake and White Mesa mills;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Reclamation asset amortization and liability adjustments &#151; Upon transition, the
Company impaired the value of its reclamation assets to nil. As a result, any
resulting amortization has been reversed. The change in the net asset value of the
reclamation assets has also impacted the amount of the liability adjustment recorded
under Canadian GAAP at December&nbsp;31, 2010;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Gain / loss on asset disposals &#151; the Company has reversed plant and equipment
impairment charges recorded in fiscal 2010 and recalculated the gain / loss on plant
and equipment disposals as a result of having adjusted carrying values for its plant
and equipment assets;</DIV></TD>
</TR>

</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 10 -<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">



<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">In preparing its IFRS balance sheets for fiscal 2010, the Company has adjusted amounts
previously reported in financial statements prepared in accordance with Canadian GAAP. An
explanation of how the transition from Canadian GAAP to IFRS has affected the Company&#146;s balance
sheets is set out in the following tables and notes that accompany the tables:</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">a) Reconciliation of Consolidated Balance Sheets from Canadian GAAP to IFRS:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>As at September&nbsp;30, 2010</B>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canadian</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">IFRS</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Table</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">GAAP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">ADJUST</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">GAAP</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">33,106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">33,106</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,431</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,431</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,484</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43,524</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">B</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,309</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,307</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93,854</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,486</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">91,368</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories &#151; ore in stockpiles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,130</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,310</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,310</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">149</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">152</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Restricted cash and investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,137</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">C</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">701,535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(364,492</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">337,043</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangibles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,883</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,883</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">D</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(52,117</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">879,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(419,092</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">460,023</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounts payable and accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">E</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">14,312</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">14,312</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current portion of long-term liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Post-employment benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">389</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">389</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Reclamation obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">768</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">768</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Debt obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Other long-term liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">319</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">319</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,894</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,894</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,390</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,390</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Post-employment benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,523</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,523</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,514</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,514</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Debt obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">225</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">225</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other long-term liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,071</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">F</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">101,899</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(88,886</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,013</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">143,516</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(88,886</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54,630</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">G</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">849,135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,197</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">850,332</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share purchase warrants</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contributed surplus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,159</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deficit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Opening</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">H</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(242,494</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(260,987</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(503,481</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">J</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,938</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,985</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accumulated other comprehensive income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Opening</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">I</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(71,898</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,584</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Comprehensive income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">J</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,425</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,503</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,922</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">735,599</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(330,206</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405,393</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities and equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">879,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(419,092</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">460,023</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 11 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt"><B>As at December&nbsp;31, 2010</B>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canadian</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">IFRS</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Table</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">GAAP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">ADJUST</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">GAAP</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">97,554</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">97,554</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,236</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,236</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,387</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,254</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,133</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">B</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,917</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,910</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">152,094</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,261</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">148,833</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories &#151; ore in stockpiles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,204</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,204</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,955</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,955</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">104</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Restricted cash and investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,946</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,946</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">C</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">714,458</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(372,294</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">342,164</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangibles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">D</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,919</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(53,919</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">952,474</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(429,471</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">523,003</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounts payable and accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">E</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,753</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,753</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Current portion of long-term liabilities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Post-employment benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Reclamation obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">641</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">641</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Debt obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Other long-term liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,996</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,996</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non-Current</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred revenue</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,339</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Post-employment benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,617</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,617</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,924</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,924</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Debt obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">205</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">205</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other long-term liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,105</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">F</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106,183</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(92,775</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,408</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">146,369</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(92,775</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53,594</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>EQUITY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">G</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">910,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,197</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">911,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share purchase warrants</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Contributed surplus</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,658</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41,658</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deficit</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Opening</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">H</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(242,494</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(260,987</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(503,481</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">J</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,235</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,889</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,346</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accumulated other comprehensive income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Opening</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">I</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(71,898</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,584</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Comprehensive income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">J</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,380</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,897</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,483</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">806,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(336,696</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">469,409</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities and equity</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">952,474</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(429,471</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">523,003</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 12 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">b) Reconciliation Tables of Consolidated Balance Sheet Line Items from Canadian GAAP (&#147;CGAAP&#148;)
to IFRS:
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table A-Inventories-current
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">46,008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">32,387</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in absorption</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(11,169</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,948</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in cost of goods sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,645</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,690</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in NRV provisions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">43,524</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">29,133</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table B-Prepaid expenses and other
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,309</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,917</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Translation methodology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4e</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,307</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,910</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table C-Property, plant and equipment
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">701,535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">714,458</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Transition impairment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(331,508</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(340,875</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in translation methodology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4e</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(44,479</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(47,084</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in depreciation, amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c,h</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,157</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,718</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in exploration absorption</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4d</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(71</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(96</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in disposals and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4h</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,043</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">337,043</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">342,164</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table D-Goodwill
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">52,117</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">53,919</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Transition impairment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(52,117</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(53,919</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table E-Accounts payable and accrued liabilities
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">14,312</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,753</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Flow-through share premium liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4g</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">14,312</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,753</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 13 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table F-Deferred tax liability
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">101,899</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">106,183</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Transition impairment-tax effect</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(72,881</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(75,401</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition tax liability un-wind</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4f</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(20,055</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,433</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other adjustments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,050</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,059</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,013</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">13,408</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table G-Share capital
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">849,135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">910,484</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Flow-through shares
&#151; life-to-date
adjustment to US
GAAP on transition</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4g</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">848</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">848</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reverse flow-through
share renunciation
recorded under
Canadian GAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4g</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">349</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">349</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">850,332</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">911,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table H-Deficit-opening
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(242,494</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(242,494</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Transition impairments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(325,848</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(325,848</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(51,028</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(51,028</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Deferred tax</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,701</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,701</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Translation methodology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Prepaids and other current assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4e</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4e</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(43,795</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(43,795</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition tax liability un-wind</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4f</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,218</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,218</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Flow-through share adjustments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4g</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,067</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,067</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,063</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,063</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reset of cumulative translation account</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4b</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71,898</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">71,898</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(503,481</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(503,481</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table I-Accumulated other comprehensive income-opening
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">75,482</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">75,482</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclass CTA to
retained earnings on
transition</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4b</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(71,898</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(71,898</TD>
    <TD nowrap>)</TD>
</TR>

<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,584</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,584</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 14 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Table J-Net income (loss)&nbsp;and Comprehensive income (loss)</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Three months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Twelve months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Notes</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(9,521</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(1,938</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(14,235</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Depreciation expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c,h</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(465</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,349</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,820</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Mineral property amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,666</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,336</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,082</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Concentrate absorption change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,266</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(11,128</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,658</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">COGS change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,056</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,612</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,422</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">NRV provision changes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4c</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,500</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(18</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Reclamation asset amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4h</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">174</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Reclamation liability adjustment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4h</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">330</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Exploration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Exploration absorption</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4d</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(28</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(71</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(92</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other expense (income)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Gain/loss on asset disposals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4h</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">406</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">692</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign exchange &#151; translational</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4e</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,619</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,575</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,923</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Future taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(122</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,393</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">700</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net income (loss)-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,518</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,047</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,346</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Comprehensive income (loss)-CGAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,853</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,487</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,145</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in net income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,003</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,985</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,889</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in foreign currency translation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,251</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,503</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,897</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Comprehensive income (loss)-IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,605</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,969</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,137</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Table K-Consolidated Statement of Cash Flow adjustments
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Twelve months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash provided by (used in)
operating activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Under Canadian GAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">28,502</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">35,551</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Change in exploration absorption</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4d</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(70</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(93</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Under IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">28,432</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">35,458</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net cash provided by (used in)
investing activities:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Under Canadian GAAP</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(14,562</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(19,472</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Change in exploration absorption</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">4d</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Under IFRS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(14,492</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(19,379</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 15 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>5.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>ACQUISITION OF WHITE CANYON URANIUM LIMITED</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">On June&nbsp;17, 2011, DMC&#146;s offer to acquire all of the outstanding shares of White Canyon Uranium
Limited (&#147;WCU&#148;) closed with 96.98% of shares outstanding accepting the offer. Compulsory
acquisition proceedings to acquire the remaining shares of WCU were initiated on June&nbsp;20, 2011
and were completed in early August&nbsp;2011.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">DMC&#146;s cash offer of AU$0.24 per WCU share has resulted in a total purchase price of
US$61,027,000 (AU$57,163,000). This amount was accrued for at June&nbsp;30, 2011 and subsequently
paid in July and August&nbsp;2011.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">This transaction has been accounted for as a business combination with DMC as the acquirer. The
allocation of the purchase price has not been finalized as at the date these interim condensed
consolidated financial statements were issued as management is in the process of determining the
fair values of identifiable assets acquired and liabilities assumed, measuring the associated
deferred income tax assets and liabilities, and determining the value of goodwill, if any. A
provisional allocation of the purchase price is as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">WCU</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Fair Value</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">June 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash and cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,323</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade and other receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">158</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Ore-in-stockpiles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,715</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Uranium concentrates and work-in-progress</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">584</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Restricted cash and investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">147</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Mineral properties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57,095</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,350</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75,440</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounts payable and accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,982</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deferred income tax liability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,350</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,413</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net assets purchased</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">61,027</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">WCU&#146;s key assets are located in southeastern Utah, near Denison&#146;s White Mesa mill. Its holdings
comprise 100% interests in the Daneros producing mine, the Lark Royal advanced project and the
Thompson, Geitus, Blue Jay and Marcy Look exploration projects in the Red Canyon district. WCU
commenced production of uranium ore in December&nbsp;2009 from its 100% owned Daneros uranium mine.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The total transaction costs incurred relating to the acquisition, and included in general and
administrative expenses for the nine months ended September&nbsp;30, 2011, amounted to $1,450,000.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 16 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company will include the financial results of WCU as part of its USA mining segment. The
statement of income (loss)&nbsp;for the period ending June&nbsp;30, 2011 does not include any results of
WCU. The following unaudited pro forma summary presents DMC&#146;s consolidated results as if WCU
had been acquired on January&nbsp;1, 2011. The pro forma information is provided for comparative
purposes only and does not necessarily reflect the actual results that would have occurred, nor
is it necessarily indicative of future results of operations of the combined companies.</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Net income</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Revenue</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(loss)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">As reported for the period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">60,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,332</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustments to revenue <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,155</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Adjustments to net income (loss) <SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,882</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pro forma amounts for the period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">67,949</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(9,214</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Revenue adjustments include WCU&#146;s revenue for the six month period ending June&nbsp;30, 2011
adjusted to eliminate revenue transactions between the Denison and the WCU corporate
groups;</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">Net income (loss)&nbsp;adjustments include revenue adjustments above, WCU&#146;s net income
(loss)&nbsp;for the six month period ending June&nbsp;30, 2011 and the following additional items:
a) reversal of WCU transaction costs incurred by Denison relating to the acquisition; b)
reversal of WCU transaction costs incurred by WCU related to the acquisition; c)
adjustments to WCU&#146;s financial results to conform to Denison&#146;s policy of expensing
exploration; d) adjustments to WCU&#146;s financial results to conform to Denison&#146;s policy of
translating intercompany advances;</DIV></TD>
</TR>

</TABLE>
</DIV>


<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>6.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>TRADE AND OTHER RECEIVABLES</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The trade and other receivables balance consists of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade receivables &#151; mineral concentrate sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">159</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,631</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trade receivables &#151; other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,288</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,903</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Receivables in joint ownership arrangements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">786</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">375</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales tax receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sundry receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">352</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,242</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Notes and lease receivables</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">857</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,134</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">20,236</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>7.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>INVENTORIES</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The inventories balance consists of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium concentrates and work-in-progress</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">29,240</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,707</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium concentrates and work-in-progress <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,198</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventory of ore in stockpiles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,484</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,772</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mine and mill supplies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,660</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">51,701</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">31,337</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventories &#151; by duration:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">49,610</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">29,133</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Long-term &#151; ore in stockpiles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,091</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,204</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">51,701</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">31,337</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV style="margin-top: 3pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">The vanadium concentrates and work-in-progress inventory is presented net of a provision
of $nil as at September&nbsp;30, 2011 and $17,000 as at December&nbsp;31, 2010.</DIV></TD>
</TR>

</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Operating expenses include recoveries of $17,000 and $13,175,000 relating to the net
realizable value of the Company&#146;s uranium and vanadium inventories for the nine months ended
September&nbsp;2011 and September&nbsp;2010, respectively.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Long-term ore in stockpile inventory represents an estimate of the amount of ore on the
stockpile in excess of the next 12&nbsp;months of planned mill production.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 17 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>8.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>INVESTMENTS</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The investments balance consists of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Available for sale securities at fair value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">558</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,955</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">558</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,955</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">At September&nbsp;30, 2011, investments consist of equity instruments of three publicly-traded
companies at a fair value of $558,000 (December&nbsp;31, 2010: $2,955,000).</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Investment Impairments</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">During the nine months ended September&nbsp;2011, the Company has taken impairment charges of
$896,000 on its investments. The resulting loss has been included in &#147;other income (expense)&#148;
in the statement of income (loss) (see Note 19).</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>9.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>RESTRICTED CASH AND INVESTMENTS</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has certain restricted cash and investments deposited to collateralize its
reclamation obligations. The restricted cash and investments balance consists of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">78</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">504</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash equivalents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,715</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,459</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,035</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,893</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">26,828</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">22,946</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Restricted cash and investments &#151; by item:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">U.S. mill and mine reclamation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">24,361</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">20,315</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Elliot Lake reclamation trust fund</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,320</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,631</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">WCU bond funds (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">147</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">26,828</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">22,946</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>U.S. Mill and Mine Reclamation</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has cash, cash equivalents and fixed income securities as collateral for various
bonds posted in favour of the State of Utah, the applicable state regulatory agencies in
Colorado and Arizona and the U.S. Bureau of Land Management for estimated reclamation costs
associated with the White Mesa mill and U.S. mining properties. During the nine months ended
September&nbsp;2011, the Company has deposited $3,200,000 of additional monies into its collateral
account.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Elliot Lake Reclamation Trust Fund</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has the obligation to maintain its decommissioned Elliot Lake uranium mine pursuant
to a Reclamation Funding Agreement effective December&nbsp;21, 1995 (&#147;Agreement&#148;) with the
Governments of Canada and Ontario. The Agreement, as amended in February&nbsp;1999, requires the
Company to maintain funds in the Reclamation Trust Fund equal to estimated reclamation spending
for the succeeding six calendar years, less interest expected to accrue on the funds during the
period. Withdrawals from this Reclamation Trust Fund can only be made with the approval of the
Governments of Canada and Ontario to fund Elliot Lake monitoring and site restoration costs.
During the nine months ended September&nbsp;2011, the Company has deposited an additional $706,000
(CDN$695,000) into the Elliot Lake Reclamation Trust Fund and withdrew $921,000 (CDN$902,000).</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 18 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>10.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>PROPERTY, PLANT AND EQUIPMENT</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The property, plant and equipment balance consists of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Plant and equipment:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">171,251</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">171,782</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Construction-in-progress</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,356</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,375</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accumulated depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(51,182</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(43,314</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net book value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">143,425</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">149,843</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral properties:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">261,135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">193,727</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accumulated amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,360</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,406</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net book value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">257,775</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">192,321</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net book value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">401,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">342,164</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The property, plant and equipment continuity summary is as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Accumulated</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amortization /</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Net</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Cost</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Depreciation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Book Value</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Plant and equipment:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Balance &#151; December&nbsp;31, 2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">193,157</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(43,314</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">149,843</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Additions &#151; acquisition related (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(44</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Additions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,238</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,238</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(54</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(54</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,982</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,982</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Disposals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(938</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">663</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(275</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,920</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">549</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,371</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Balance &#151; September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">194,607</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(51,182</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">143,425</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral properties:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Balance &#151; December&nbsp;31, 2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">193,727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(1,406</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">192,321</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Additions &#151; acquisition related (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57,095</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57,095</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Additions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,333</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,333</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,966</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,966</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,020</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,008</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Balance &#151; September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">261,135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(3,360</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">257,775</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Plant and Equipment-Mining</B></DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has a 100% interest in the White Mesa mill located in Utah and mines located in
Arizona, Colorado and Utah. Mined ore from these mines is processed at the White Mesa mill.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has a 22.5% interest in the McClean Lake mill and mines located in the Athabasca
Basin of Saskatchewan, Canada. The mill is currently on stand-by and is scheduled to remain so
throughout 2011 and into 2012. A toll milling agreement has been signed with the participants
in the Cigar Lake joint venture that provides for the processing of a substantial portion of the
future output of the Cigar Lake mine at the McClean Lake mill, for which the owners of the
McClean Lake mill will receive a toll milling fee and other benefits. In determining the
amortization rate for the McClean Lake mill, the amount to be amortized has been adjusted to
reflect Denison&#146;s expected share of future toll milling mill feed.</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Plant and Equipment &#151; Services and Other</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The environmental services division of the Company provides mine decommissioning and
decommissioned site monitoring services for third parties.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 19 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Mineral Properties</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has various interests in development and exploration projects located in Canada, the
U.S., Mongolia and Zambia which are held directly or through option or joint venture agreements.
Amounts spent on development projects are capitalized as mineral property assets. Exploration
projects are expensed.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The most significant of the Company&#146;s mineral property interests are as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><I>Canada</I></U></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has a 22.5% interest in the McClean Lake project and a 25.17% interest in the
Midwest project located in the Athabasca Basin of Saskatchewan, Canada. These projects are in
the development stage.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Other significant mineral property interests that the Company has in Canada, also located in the
Athabasca basin, but which are not yet in the development stage include:</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Wheeler River &#151; the Company has a 60% interest in the project;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Moore Lake &#151; the Company has a 75% interest in the project subject to a 2.5% net
smelter return royalty;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Wolly &#151; the Company has a 22.5% interest in the project; and</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 8pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Park Creek &#151; In the first quarter of 2006, the Company entered into an option
agreement to earn up to a 75% interest in the Park Creek project. The Company is required
to incur exploration expenditures of CDN$2,800,000 over three years to earn an initial 49%
interest and a further CDN$3,000,000 over six years to earn an additional 26% interest. As
at September&nbsp;30, 2011, the Company has incurred a total of CDN$4,219,000 towards the option
and has earned a 49% ownership interest in the project under the phase-in ownership
provisions of the agreement.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><I>United States</I></U></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has 100% interests in various mines in the Colorado Plateau, Arizona Strip and Henry
Mountains mining districts located in Colorado, Arizona and Utah which are either in operations,
development or on standby.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">In June&nbsp;2011, the Company acquired certain uranium deposits located in the Red Canyon district
in Utah in conjunction with its purchase of WCU (see note 5).</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><I>Mongolia</I></U></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has a 70% interest in and is the managing partner of the Gurvan Saihan Joint Venture
in Mongolia. The results of the Gurvan Saihan Joint Venture have been included in these
financial statements on a consolidated basis since the Company exercises control.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><U><I>Zambia</I></U></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has a 100% interest in the Mutanga project located in Zambia.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>11.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>INTANGIBLES</B></DIV></TD>
</TR>

</TABLE>
</DIV><!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Intangibles consist of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,060</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,439</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accumulated amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,095</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,645</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net book value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net book value-by item:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">UPC management services agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net book value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 20 -<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The intangibles continuity summary is as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Accumulated</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Net</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Cost</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Amortization</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Book Value</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance &#151; December&nbsp;31, 2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,439</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(3,645</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(681</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(681</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(379</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">231</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(148</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance &#151; September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,060</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(4,095</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>UPC Management Services Agreement</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The UPC management services agreement is associated with the acquisition of DMI in 2006. The
contract is being amortized over its eight year estimated useful life.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>12.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>POST-EMPLOYMENT BENEFITS</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company provides post employment benefits for former Canadian employees who retired on
immediate pension prior to 1997. The post employment benefits provided include life insurance
and medical and dental benefits as set out in the applicable group policies but does not include
pensions. No post employment benefits are provided to employees outside the employee group
referenced above. The post employment benefit plan is not funded.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The effective date of the most recent actuarial valuation of the accrued benefit obligation is
December&nbsp;1, 2008. The amount accrued is based on estimates provided by the plan administrator
which are based on past experience, limits on coverage as set out in the applicable group
policies and assumptions about future cost trends. The significant assumptions used in the
valuation are listed below.</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Discount rate</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">7.50</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Initial medical cost growth rate per annum</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">11.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Medical cost growth rate per annum decline to</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">5.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Year in which medical cost growth rate reaches its final level</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2014</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dental cost growth rate per annum</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">4.00</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Post-employment benefits consist of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accrued benefit obligation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,604</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,820</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unamortized experience gain</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">199</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,019</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Post-employment benefits liability-by duration:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">382</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">402</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,395</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,617</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,777</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,019</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 21 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The post-employment benefits continuity summary is as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>

<TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">September
30,<br> 2011</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Opening</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">4,019</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Benefits paid</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(238</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">216</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Amortization of experience gain</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(17</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(203</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,777</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The unamortized experience gain is being amortized on a straight-line basis over the average
life expectancy of the retiree group of 10.7&nbsp;years as per the December&nbsp;1, 2008 actuarial
valuation.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>13.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>RECLAMATION OBLIGATIONS</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The reclamation obligations balance consists of:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation liability &#151; by location:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">U.S Mill and Mines</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,713</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">6,383</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Elliot Lake</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,847</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,451</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">McClean and Midwest Joint Ventures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,723</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,731</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">WCU (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,565</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation and remediation liability &#151; by duration:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">608</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">641</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,756</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,924</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,364</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,565</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The reclamation obligations continuity summary is as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30,</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Opening</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,565</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acquisition related additions (note 5)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accretion</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">883</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expenditures incurred</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(595</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(570</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17,364</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Site Restoration: U.S. Mill and Mines</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The decommissioning and reclamation of the White Mesa mill and U.S. mines are subject to legal
and regulatory requirements. Estimates of the costs of reclamation are reviewed periodically by
the applicable regulatory authorities. The above accrual represents the Company&#146;s best estimate
of the present value of future reclamation costs, discounted at rates ranging from 6.19% to
7.17%. As at December&nbsp;31, 2010, the undiscounted amount of estimated future reclamation costs
is $34,972,000. Reclamation costs are expected to be incurred between 2012 and 2040.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 22 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Site Restoration: Elliot Lake</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Elliot Lake uranium mine was closed in 1992 and capital works to decommission this site were
completed in 1997. The remaining provision is for the estimated cost of monitoring the Tailings
Management Areas at the Company and Stanrock sites and for treatment of water discharged from
these areas. The Company conducts its activities at both sites pursuant to decommissioning
licenses issued by the Canadian Nuclear Safety Commission. The above accrual represents the
Company&#146;s best estimate of the present value of the total future reclamation cost based on
assumptions as to levels of treatment, which will be required in the future, discounted at
6.48%. As at December&nbsp;31, 2010, the undiscounted amount of estimated future reclamation costs
is $51,080,000 (CDN$50,806,000).</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Spending on restoration activities at the Elliot Lake site is funded from monies in the Elliot
Lake Reclamation Trust fund (see note 9).</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Site Restoration: McClean Lake Joint Venture and Midwest Joint Venture</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The McClean Lake and Midwest operations are subject to environmental regulations as set out by
the Saskatchewan government and the Canadian Nuclear Safety Commission. Cost estimates of the
estimated future decommissioning and reclamation activities are prepared periodically and filed
with the applicable regulatory authorities for approval. The above accrual represents the
Company&#146;s best estimate of the present value of the future reclamation cost contemplated in
these cost estimates discounted at 6.48%. As at December&nbsp;31, 2010, the undiscounted amount of
estimated future reclamation costs is $19,705,000 (CDN$19,599,000). Reclamation costs are
expected to be incurred between 2025 and 2052.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Under the Mineral Industry Environmental Protection Regulations (1996), the Company is required
to provide its pro-rata share of financial assurances to the province. As at September&nbsp;30,
2011, the Company has provided irrevocable standby letters of credit, from a chartered bank, in
favour of Saskatchewan Environment, totalling CDN$9,698,000.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>14.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>DEBT OBLIGATIONS</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Debt obligations consist of:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Notes payable and other financing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">241</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">405</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">241</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">405</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Debt obligations, by duration:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">106</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">135</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">205</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">241</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">405</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Revolving Line of Credit</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">In June&nbsp;2011, the Company entered into a revolving term credit facility (the &#147;facility&#148;) with
the Bank of Nova Scotia for up to $35,000,000. The amount of the facility available is the
lesser of $35,000,000 and a &#147;borrowing base&#148; amount which is determined quarterly and is based
on a percentage of accounts receivable and inventory. At September&nbsp;30, 2011, the amount of the
facility available is $35,000,000. The maturity date of the facility is June&nbsp;29, 2012. This
facility replaced a previously existing $60,000,000 revolving term facility.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The facility contains one financial covenant based on maintaining a certain level of tangible
net worth. It also has a defined working capital borrowing base calculation that sets limits on
the amount of borrowings that the Company can have drawn under the facility at any given time.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">DMC has provided an unlimited full recourse guarantee and a pledge of all of the shares of DMI.
DMI has provided a first-priority security interest in all present and future personal property
and an assignment of its rights and interests under all material agreements relative to the
McClean Lake and Midwest projects. In addition, each of DMC&#146;s material U.S subsidiaries has
provided an unlimited full recourse guarantee secured by a pledge of all of its shares and a
first-priority security interest in all of its present and future personal property.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 23 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Interest payable under the facility is bankers acceptance or LIBOR rate plus a margin or prime
rate plus a margin. The facility is subject to standby fees.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">As at September&nbsp;30, 2011, the Company has no outstanding borrowings under the facility (December
31, 2010 &#151; $Nil). At September&nbsp;30, 2011, approximately $9,252,000 of the facility is being
utilized as collateral for certain letters of credit and is not available to draw upon (December
31, 2010 &#151; $19,816,000). During the nine months ending September&nbsp;30, 2011, the Company has not
incurred any interest under the facility.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has deferred $86,000 (CDN$90,000) of incremental costs associated with the set-up of
the facility. These costs are being amortized over the one year term of the facility. The
unamortized portion of the asset is included in &#147;prepaid expenses and other&#148; on the consolidated
balance sheet.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>15.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>OTHER LONG-TERM LIABILITIES</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Other long-term liabilities consist of:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">At December 31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Unamortized fair value of toll milling contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">954</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,005</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">100</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,105</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other long-term liabilities &#151; by duration:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-current</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,105</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,054</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,105</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>16.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>SHARE CAPITAL</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">DMC is authorized to issue an unlimited number of common shares without par value. A continuity
summary of the issued and outstanding common shares and the associated dollar amounts is
presented below:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Common</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands except share amounts)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Amount</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance at December&nbsp;31, 2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">366,200,665</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">911,681</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Issued for cash:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">New issue gross proceeds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,300,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">66,024</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">New issue gross issue costs</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,908</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Exercise of stock options</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">160,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">328</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fair value of stock options exercised</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">189</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,460,250</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,633</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance at September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">384,660,915</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">974,314</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>New issues</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">In March&nbsp;2011, the DMC completed a financing of 18,300,000 common shares at a price of CDN$3.55
per share for gross proceeds of $66,024,000 (CDN$64,965,000).</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Flow-Through Share Issues</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company finances a portion of its exploration programs through the use of flow-through share
issuances. Income tax deductions relating to these expenditures are claimable by the investors
and not by the Company.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">As at September&nbsp;30, 2011, the Company has fully met its CDN$4,200,000 December&nbsp;2010 flow-through
share obligation. The Company renounced the income tax benefit of this issue to its subscribers
in February&nbsp;2011.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 24 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>17.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>SHARE PURCHASE WARRANTS</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">A continuity summary of the issued and outstanding share purchase warrants in terms of common
shares of DMC and the associated dollar amounts is presented below:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Fair Value</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Common Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Dollar</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands except share amounts)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Issuable</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Amount</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance at December&nbsp;31, 2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,408,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">5,830</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrants expired &#151; March&nbsp;2006 Series <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,408,000</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,830</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Balance at September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">The March&nbsp;2006 series had an effective exercise price of CDN$10.42 per issuable share
(CDN$30.00 per warrant adjusted for the 2.88 exchange ratio associated with the Denison and
IUC merger) and expired on March&nbsp;1, 2011.</DIV></TD>
</TR>

</TABLE>



<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>18.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>STOCK OPTIONS</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company&#146;s stock-based compensation plan (the &#147;Plan&#148;) provides for the granting of stock
options up to 10% of the issued and outstanding common shares at the time of grant, subject to a
maximum of 20&nbsp;million common shares. As at September&nbsp;30, 2011, an aggregate of 13,601,700
options have been granted (less cancellations) since the Plan&#146;s inception in 1997.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Under the Plan, all stock options are granted at the discretion of DMC&#146;s board of directors,
including any vesting provisions if applicable. The term of any stock option granted may not
exceed ten years and the exercise price may not be lower than the closing price of DMC&#146;s shares
on the Toronto Stock Exchange (&#147;TSX&#148;) on the last trading day immediately preceding the date of
grant. In general, stock options granted under the Plan have five year terms and vesting
periods up to thirty months.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">A continuity summary of the stock options of the Company granted under the Plan is presented
below:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="72%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Weighted-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Average</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercise</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price per</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Common</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Share</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(CDN$)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stock options outstanding &#151; December&nbsp;31, 2010</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,286,089</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2.61</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Granted <SUP style="FONT-size: 85%; vertical-align: text-top">(2)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,939,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Exercised <SUP style="FONT-size: 85%; vertical-align: text-top">(1)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(160,250</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.04</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Forfeitures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(349,600</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.01</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expiries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(89,825</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.71</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stock options outstanding &#151; September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,625,414</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2.69</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stock options exercisable &#151; September&nbsp;30, 2011</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,033,664</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2.82</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(1)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">The weighted average share price on the TSX at the date of exercise was CDN$3.53.</DIV></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(2)</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="text-align: justify">During the three months ended September&nbsp;30, 2011, 37,000 options were granted with a
weighted average exercise price per share of CDN$1.56.</DIV></TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 25 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">A summary of the Company&#146;s stock options outstanding at September&nbsp;30, 2011 is presented below:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="58%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Weighted</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Weighted-</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Average</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Average</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Remaining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Exercise</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Range of Exercise</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Contractual</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Number of</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Price per</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left">Prices per Share</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Life</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Common</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Share</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(CDN$)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(Years)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Shares</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">(CDN$)</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stock options outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">$1.37 to $2.49</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.73</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,875,876</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1.99</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">$2.50 to $4.99</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,907,199</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.21</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">$5.00 to $7.49</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.79</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">762,339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">$7.50 to $8.50</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">80,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.95</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stock options outstanding &#151;  end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,625,414</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2.69</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Options outstanding at September&nbsp;30, 2011 expire between October&nbsp;2011 and October&nbsp;2016.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The following table outlines the range of assumptions used in the Black-Scholes option pricing
model to determine the fair value of options granted for the period:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="86%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Nine Months</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">September 30, 2011</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Risk-free interest rate</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">1.56% &#150; 2.34%</TD>
    <TD nowrap></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expected stock price volatility</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">90.7% &#150; 92.4%</TD>
    <TD nowrap></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expected life</DIV></TD>

    <TD>&nbsp;</TD>
    <TD colspan="2" nowrap align="center">3.7 years</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expected forfeitures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" colspan="2">4.7%</TD>
    <TD nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expected dividend yield</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" colspan="2">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fair value per share under options granted</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>CDN$0.99 &#150; CDN$2.04</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Stock-based compensation is included as a component of general and administrative expense in the
statement of income (loss)&nbsp;and is $991,000 and $2,639,000 for the three and nine months ended
September&nbsp;30, 2011 and $399,000 and $1,237,000 for the three months and nine months ended
September&nbsp;30, 2010.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The fair values of stock options with vesting provisions are amortized on a straight-line graded
method basis as stock-based compensation expense over the applicable vesting periods. At
September&nbsp;30, 2011, the Company had an additional $2,273,000 in stock-based compensation expense
to be recognized periodically to August&nbsp;2013.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 26 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>19.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>SUPPLEMENTAL FINANCIAL INFORMATION</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The elements of operating expenses in the statement of income (loss)&nbsp;are as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of goods and services sold:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">COGS &#151; mineral concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(10,481</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(33,319</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(43,959</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(73,944</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Operating Overheads:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Mining, development expense:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-Depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,388</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,395</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,141</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,219</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-All other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,744</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,813</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(27,403</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(20,834</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Milling, conversion expense:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-Depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,227</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,587</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,296</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,050</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-All other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,502</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(11,043</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(48,068</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(35,774</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Mill feed cost:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-Stockpile depletion</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,310</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,351</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(23,603</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-Mineral property amortization</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(258</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,966</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(721</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Less absorption:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-Stockpiles, mineral properties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,912</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,859</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,959</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,868</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">-Concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,231</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,024</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,971</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63,069</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,051</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,696</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,341</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,518</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Inventory&#151;non-cash adjustments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">202</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(679</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,848</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cost of goods and services sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,048</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(34,387</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(61,274</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(74,878</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reclamation&#151;accretion, adjustments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(312</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(326</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(937</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(979</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Post-employment&#151;accretion, adjustments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(66</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(61</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(199</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(202</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Selling expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(287</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(316</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,319</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(935</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sales royalties and capital taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(837</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(112</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,124</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(19,713</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(35,927</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(63,841</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(79,118</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The elements of other income (expense)&nbsp;in the statement of income (loss)&nbsp;are as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gains (losses)&nbsp;on:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign exchange</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">15,382</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(5,076</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">8,967</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(4,580</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Disposal of property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">226</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investment disposals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,745</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,661</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investment other than temporary losses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(896</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(181</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Restricted cash and investments&#151;fair
value change</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">390</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">162</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">421</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">502</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Contract settlement fee income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(221</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">469</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(127</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other income (expense)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">15,828</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">$</TD>
    <TD align="right">(3,390</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,042</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,501</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The elements of finance income (expense)&nbsp;in the statement of income (loss)&nbsp;are as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">147</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">488</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest expense</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(82</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finance income (expense)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">339</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">146</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,111</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">478</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 27 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">A summary of employee benefits recognized in the statement of income (loss)&nbsp;is as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR><TD align="left" valign="top">&nbsp;</TD></TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Salaries and short-term employee benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">8,508</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,562</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">24,283</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">21,993</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share-based compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">991</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">399</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,639</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,237</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Employee benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">9,499</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">26,922</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">23,230</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>20.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>SEGMENTED INFORMATION</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Business Segments</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company operates in two primary segments &#151; the Mining segment and the Services and Other
segment. The Mining segment, which has been further subdivided by major geographic regions,
includes activities related to exploration, evaluation and development, mining, milling and the
sale of mineral concentrates. The Services and Other segment includes the results of the
Company&#146;s environmental services business, management fees and commission income earned from UPC
and general corporate expenses not allocated to the other segments.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For the nine months ended September&nbsp;30, 2011, business segment results were as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canada</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">U.S.A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Africa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Asia</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Services</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">and Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Statement of Operations:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,693</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,244</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,857</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Expenses:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,301</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(43,174</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,366</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(63,841</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral property exploration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,264</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(572</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,951</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,771</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,558</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,413</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(776</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(649</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,871</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,709</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,565</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(47,159</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,727</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,420</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(21,237</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(90,108</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Segment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,872</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7,915</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,727</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,420</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7,380</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(29,314</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Revenues &#151; supplemental:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,693</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,211</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34,904</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,550</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Environmental services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,195</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Management fees and commissions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,662</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,662</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alternate feed processing and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">483</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">483</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,693</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,244</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,857</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">60,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Capital additions:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">563</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,060</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,115</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">573</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,260</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,571</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Long-lived assets:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">86,797</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">101,617</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">968</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">529</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,696</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">194,607</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accumulated depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,426</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(39,756</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(611</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(414</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,975</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(51,182</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral properties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,819</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">97,483</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81,555</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,918</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">257,775</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangibles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,965</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goodwill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,350</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,350</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">148,190</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">171,694</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">81,912</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,033</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,686</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">416,515</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 28 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For the nine months ended September&nbsp;30, 2010, business segment results were as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canada</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">U.S.A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Africa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Asia</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Services</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">and Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Statement of Operations:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,979</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">89,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Expenses:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(28,964</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(39,590</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,564</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(79,118</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral property exploration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,881</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(304</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(24</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(841</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,050</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,058</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(807</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(714</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,072</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10,651</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(33,845</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(42,952</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(831</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,555</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(16,636</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(95,819</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Segment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,866</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,797</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(831</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,555</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,276</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,731</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Revenues &#151; supplemental:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,979</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35,239</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">65,218</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,038</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,038</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Environmental services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,271</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,271</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Management fees and commissions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,089</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,089</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alternate feed processing and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">472</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">472</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,979</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,749</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,360</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">89,088</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Capital additions:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Property, plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">751</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22,065</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,060</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">415</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">524</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,815</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Long-lived assets:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Plant and equipment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">88,670</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93,866</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">765</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">523</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,413</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">187,237</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accumulated depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(8,622</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(28,771</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(440</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(359</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,837</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(40,029</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral properties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">70,558</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,835</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82,986</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,456</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">189,835</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intangibles</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,883</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,883</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150,606</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">92,930</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">83,311</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,620</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,459</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">340,926</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For the three months ended September&nbsp;30, 2011, business segment results were as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canada</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">U.S.A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Africa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Asia</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Services</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">and Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Statement of Operations:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,513</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,033</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Expenses:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(474</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,189</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,050</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,713</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral property exploration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,541</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(522</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,052</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,802</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(6,917</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,132</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(300</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(197</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,486</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,115</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,015</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(15,843</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,352</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,999</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7,536</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(30,745</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Segment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,015</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(4,323</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,352</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,999</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,023</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13,712</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Revenues &#151; supplemental:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,341</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,341</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">849</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">849</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Environmental services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,064</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,064</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Management fees and commissions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alternate feed processing and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">330</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">330</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,520</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,513</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,033</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 29 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For the three months ended September&nbsp;30, 2010, business segment results were as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Canada</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">U.S.A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Africa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Asia</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Services</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Mining</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">and Other</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Total</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Statement of Operations:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenues</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,397</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,883</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Expenses:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Operating expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(12,801</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(19,427</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,699</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(35,927</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mineral property exploration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,756</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(301</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(486</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,556</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">General and administrative</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,344</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(255</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(251</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,939</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(3,789</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(14,557</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(21,072</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(268</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(737</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5,638</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(42,272</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Segment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,596</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,325</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(268</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(737</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,113</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,389</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Revenues &#151; supplemental:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uranium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,267</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,228</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vanadium concentrates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Environmental services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,116</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,116</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Management fees and commissions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alternate feed processing and other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">336</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">336</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,961</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,397</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39,883</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Revenue Concentration</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company&#146;s business is such that, at any given time, it sells its uranium and vanadium
concentrates to and enters into process milling arrangements and other services with a
relatively small number of customers. In the nine months ended September&nbsp;2011, three customers
from the mining segment and one customer from the services and other segment accounted for
approximately 83% of total revenues. For the comparative nine month period ended September
2010, two customers from the mining segment accounted for approximately 36% of total revenues.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>21.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>RELATED PARTY TRANSACTIONS</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Uranium Participation Corporation</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">The following transactions were incurred with UPC for the periods noted:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Revenue:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Management fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,476</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Commission and transaction fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">962</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">449</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">409</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,476</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,089</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:30px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">At September&nbsp;30, 2011, accounts receivable includes $165,000 due from UPC with respect to the
fees and transactions indicated above.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">On January&nbsp;3, 2011, the Company borrowed 150,000 pounds of U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB> from UPC
pursuant to a uranium concentrate loan agreement between the parties. As collateral for the
loan, the Company issued an irrevocable standby-letter of credit in favour of UPC in the amount
of $12,045,000. On March&nbsp;30, 2011, the Company returned 150,000 pounds of U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8
</SUB>to UPC. Loan fees incurred by the Company under the agreement were $91,000. As at
September&nbsp;30, 2011, the loan fees have been paid and the irrevocable standby-letter of credit
has been cancelled.</DIV></TD>
</TR>

</TABLE>
</DIV><P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 30 -<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<!-- xbrl -->

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV style="margin-top: 10pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Korea Electric Power Corporation (&#147;KEPCO&#148;)</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">In June&nbsp;2009, DMC completed definitive agreements with KEPCO. The agreements included a
long-term offtake agreement which provides for the delivery to KEPCO of 20% of Denison&#146;s annual
U<SUB style="FONT-size: 85%; vertical-align: text-bottom">3</SUB>O<SUB style="FONT-size: 85%; vertical-align: text-bottom">8</SUB> production (&#177;10%) but not less than 350,000 pounds (&#177;10%) per year
from 2010 to 2015 inclusive. KEPCO also purchased 58,000,000 common shares of DMC representing
approximately 17% of the issued and outstanding capital as at June&nbsp;2009. Pursuant to a
strategic relationship agreement, KEPCO is entitled to subscribe for additional common shares in
DMC&#146;s future share offerings and require DMC to nominate two persons designated by KEPCO to
DMC&#146;s board of directors if KEPCO holds at least a 15% share interest in DMC (or one director if
KEPCO&#146;s share interest is between 5% and 15%). Currently, KEPCO&#146;s interest in DMC has dropped
to approximately 15.08%. Under the strategic relationship agreement, two representatives from
KEPCO have been appointed to DMC&#146;s board of directors as of the date hereof.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Other</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">During the nine months ended September&nbsp;2011, the Company has incurred management and
administrative service fees and other expenses of $155,000 (nine months ended September&nbsp;2010:
$59,000) with a company owned by the Chairman of the Company which provides corporate
development, office premises, secretarial and other services. At September&nbsp;30, 2011, an amount
of $nil was due to this company.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Compensation of Key Management Personnel</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Key management personnel are those persons having authority and responsibility for planning,
directing and controlling the activities of the Company, directly or indirectly. Key management
personnel includes the Company&#146;s executive officers, vice-presidents and members of its Board of
Directors.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Compensation awarded to key management personnel were as follows:</DIV></TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="44%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Three Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000">Nine Months Ended</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">September 30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">(in thousands)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2011</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">2010</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Salaries and short-term employee benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">533</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">543</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,655</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,677</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Share-based compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">567</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">178</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,435</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">431</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Termination benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">150</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Key management personnel compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">721</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">3,090</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,258</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>22.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>INCOME TAXES</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">For the nine months ended September&nbsp;30, 2011, the Company has recognized deferred tax recoveries
of $13,860,000. The deferred tax recovery includes the recognition of previously unrecognized
Canadian tax assets of $1,461,000 associated with the taxation of the expired warrants during
the first quarter of 2011. It also includes the recognition of previously unrecognized U.S. tax
assets of $12,350,000 associated with the re-organization of a U.S. subsidiary acquired by the
Company as part of the WCU acquisition.</DIV></TD>
</TR>

</TABLE>
</DIV>

<!-- xbrl,n -->
<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>23.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>COMMITMENTS AND CONTINGENCIES</B></DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- xbrl,body -->

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>General Legal Matters</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company is involved, from time to time, in various other legal actions and claims in the
ordinary course of business. In the opinion of management, the aggregate amount of any
potential liability is not expected to have a material adverse effect on the Company&#146;s financial
position or results.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Third Party Indemnities</B></DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">The Company has agreed to indemnify Calfrac Well Services against certain specified future
liabilities it may incur related to the assets or liabilities assumed by Calfrac on March&nbsp;8,
2004.</DIV></TD>
</TR>

</TABLE>
</DIV>
<!-- /xbrl,ns -->


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->- 31 -<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.7
<SEQUENCE>8
<FILENAME>c24594exv99w7.htm
<DESCRIPTION>EXHIBIT 7
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 7</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;7</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>FORM 52-109F2<BR>
CERTIFICATION OF INTERIM FILINGS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">I, Ron F. Hochstein, President and Chief Executive Officer of Denison Mines Corp., certify the
following:
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Review: </I></B>I have reviewed the interim financial report and interim MD&#038;A (together, the &#147;interim
filings&#148;) of Denison Mines Corp. (the &#147;issuer&#148;) for the interim period ended September&nbsp;30,
2011.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>No misrepresentations: </I></B>Based on my knowledge, having exercised reasonable diligence, the
interim filings do not contain any untrue statement of a material fact or omit to state a
material fact required to be stated or that is necessary to make a statement not misleading in
light of the circumstances under which it was made, with respect to the period covered by the
interim filings.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Fair presentation: </I></B>Based on my knowledge, having exercised reasonable diligence, the interim
financial report together with the other financial information included in the interim filings
fairly present in all material respects the financial condition, financial performance and
cash flows of the issuer, as of the date of and for the periods presented in the interim
filings.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Responsibility: </I></B>The issuer&#146;s other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (DC&#038;P) and internal control
over financial reporting (ICFR), as those terms are defined in National Instrument 52-109
<I>Certification of Disclosure in Issuers&#146; Annual and Interim Filings</I>, for the issuer.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Design: </I></B>Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#146;s
other certifying officer(s) and I have, as at the end of the period covered by the interim
filings</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">designed DC&#038;P, or caused it to be designed under our supervision, to provide
reasonable assurance that</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">material information relating to the issuer is made known
to us by others, particularly during the period in which the interim filings
are being prepared; and</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">information required to be disclosed by the issuer in its
annual filings, interim filings or other reports filed or submitted by it
under securities legislation is recorded, processed, summarized and reported
within the time periods specified in securities legislation; and</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">designed ICFR, or caused it to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with the
issuer&#146;s GAAP.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Control framework: </I></B>The control framework the issuer&#146;s other certifying officer(s) and I used
to design the issuer&#146;s ICFR is <I>Internal Control &#151; Integrated Framework </I>(COSO Framework)
published by The Committee of Sponsoring Organizations of the Treadway Commission (COSO).</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>ICFR: </I></B>Not applicable.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Limitation on scope of design: </I></B>Not applicable.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Reporting changes in ICFR: </B>The issuer has disclosed in its interim MD&#038;A any change in the
issuer&#146;s ICFR that occurred during the period beginning on July&nbsp;1, 2011 and ended on September
30, 2011 that has materially affected, or is reasonably likely to materially affect, the
issuer&#146;s ICFR.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Date: November&nbsp;3, 2011
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>(signed) Ron F. Hochstein</I>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Ron F. Hochstein
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">Title: President and Chief Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>FORM 52-109F2<BR>
CERTIFICATION OF INTERIM FILINGS</B>
</DIV>


<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">I, James R. Anderson, Executive Vice-President and Chief Financial Officer of Denison Mines
Corp., certify the following:
</DIV>


<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Review: </I></B>I have reviewed the interim financial report and interim MD&#038;A (together, the &#147;interim
filings&#148;) of Denison Mines Corp. (the &#147;issuer&#148;) for the interim period ended September&nbsp;30,
2011.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>No misrepresentations: </I></B>Based on my knowledge, having exercised reasonable diligence, the
interim filings do not contain any untrue statement of a material fact or omit to state a
material fact required to be stated or that is necessary to make a statement not misleading in
light of the circumstances under which it was made, with respect to the period covered by the
interim filings.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Fair presentation: </I></B>Based on my knowledge, having exercised reasonable diligence, the interim
financial report together with the other financial information included in the interim filings
fairly present in all material respects the financial condition, financial performance and
cash flows of the issuer, as of the date of and for the periods presented in the interim
filings.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Responsibility: </I></B>The issuer&#146;s other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (DC&#038;P) and internal control
over financial reporting (ICFR), as those terms are defined in National Instrument 52-109
<I>Certification of Disclosure in Issuers&#146; Annual and Interim Filings</I>, for the issuer.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Design: </I></B>Subject to the limitations, if any, described in paragraphs 5.2 and 5.3, the issuer&#146;s
other certifying officer(s) and I have, as at the end of the period covered by the interim
filings</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">designed DC&#038;P, or caused it to be designed under our supervision, to provide
reasonable assurance that</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">material information relating to the issuer is made known
to us by others, particularly during the period in which the interim filings
are being prepared; and</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">information required to be disclosed by the issuer in its
annual filings, interim filings or other reports filed or submitted by it
under securities legislation is recorded, processed, summarized and reported
within the time periods specified in securities legislation; and</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">designed ICFR, or caused it to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with the
issuer&#146;s GAAP.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Control framework: </I></B>The control framework the issuer&#146;s other certifying officer(s) and I used
to design the issuer&#146;s ICFR is <I>Internal Control &#151; Integrated Framework </I>(COSO Framework)
published by The Committee of Sponsoring Organizations of the Treadway Commission (COSO).</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.2</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>ICFR: </I></B>Not applicable.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">5.3</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B><I>Limitation on scope of design: </I></B>Not applicable.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify"><B>Reporting changes in ICFR: </B>The issuer has disclosed in its interim MD&#038;A any change in the
issuer&#146;s ICFR that occurred during the period beginning on July&nbsp;1, 2011 and ended on September
30, 2011 that has materially affected, or is reasonably likely to materially affect, the
issuer&#146;s ICFR.</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Date: November&nbsp;3, 2011
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>(signed) James R. Anderson</I>
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: James R. Anderson
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title: Executive Vice-President and Chief Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>c24594c2459400.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c24594c2459400.gif
M1TE&.#EABP`U`.8``,O=QK?6M\SDR?__^1)-'11,(N3:<IFZF"YF.D1W35B/
M8:C&J%"$6#EK0OCUK;N<"O___':B>L6;"(2JA<W$3?__["99,LJS)_+Y[>[G
MD+G-M1)0';FD#_7Z\E^7:?__]NGTX_OWP^3RV\:Y'?3L;^OVZ=GKTQ11(=SN
MVOW[T=/GS(.TAU^*9/_^_FR9</G\]72;==C&..'LW*''GL&9"<R3!AQ4*7>J
M?O__\>7RX[/5K<&<"8Z[D\J9!]/JT,.C#/+U[.[XZFZF=!U:+*C0IAA1)?O]
M^,27"+#)KY;`E]#DT,+7O\BG%O_^X6*?;.WXY)VYG_C\\KRK),;BOZ.]I-KO
MU_[\_,>5!]GGUM_.6,69"!)('O[]_G^H@=&T&9"OC[#4L^7OX/S^^L2="!U:
M)?7[Z157(/K[]2%3+H.A@\^9!;_>O_[Z_"5@,_[W^O[[]<F/!GZF;^;C5FN2
M;L[@SO#X[_W^_?#VY^_=A?SX[]*]/1Q+*MOCV)^^F____O___R'Y!```````
M+`````"+`#4```?_@'^"@X2%AH>(B8J+C(V.B'X#$'\X.!`.;X*1BI--CY^@
MH:*CB1"3$)4&%9H#I7Y^&:2RL[2TKX(X#GHXK(D??A4QM</$@[>,+2V@IBU-
M62.KKZV(`U8.',79LBU^84C?X.%(&CY!8G[*C[<.%]`0THE^7%D[VO:B?GU;
M)_S])P4`BQ2QP(`'AG>?<!C8`<W/GTV)0C"Y<J_BHQ8\"FS8R+$CQWT)9@29
MI,C/*78]H`V:=JB%G!TU+,I<9"?)%@(X<^K4N6\(#!$.2WT8,(`$ARLJ'[8R
M.0C"!PA-1NR`,[/JH7PX-^;<0.#F3@(;3C``&J]"A0]Z=J1<I?2/TT$X_YI4
M(*&%1CVK>#7UR:J5;]^M&PHD&)EHP(<0'-0FA4C2+8Y@5^SFS8MU:]<M``'R
MU5F`Q4%#3!4^4,P6(M-U/VB,N3NY:F7.##RP2-!&\XD--_D5Z6,$](`6(2X\
M&*-E\313;B&\R3)Z!^O6,E^#)6`C``8,(`!,:%!`)S_!)GR_P9-8@@3C@DR9
M!'[!N7/HKO=VG6X#0&,Q/AATGXZSP)>@A$"0@AX/2'`$0Z5-8](D%1CP@&KO
MP1>=?#=QM8=]@U@Q``@)@,75%OLT@`%H&7!`0P]7(-C+0\@%1\.++THXH64;
MV"``@`_Y80(:&Y@Q'P%%!/!'"Y-$4@$%HVD1&?]Z.7[P`0D_''&$>1+(:-%K
M7&TPA`"'B,&"1EGA%`$Z17[@@!2):7$$#4RRV(0>8_2@!9565H0E6%M>M4`1
M7/&7@!W(_5$!<\.IJ6);+%Y2Z)SFU7G/G5IR>4@5;>#&7P,=#."0'RDP08,$
M:DIPJ&D06,$<J%16Z:@V?AQ@&0%#*(%($`W0:$$=TWR`AQ:\ACIJKCAT^D-=
MJ:[*JJMAPBKK(2_4FI5&:-3AT`#!4<GH>0D*,D"##Z"X0['&%M/JJ['.ZNQT
M&]R*"PD%UK7#&*`RR:D4,*4(;Z.@7144CI`(D@XHR6C";R.F'.!5EEL.[`>E
M?6:)0`=N!0.C7=\6EZW_'W:4^$,-]E*IC!]&A&S'@BUP84<4'V#PPADOO)",
M'4:T//(K);?<@1LMP/R"$?^*@4$8.03!LS)<6,%%"QW(@`46==CQ[Q]BQ/P"
M.ND84489/.PQA`U%V&"#!0(T]E`R1.S!'P&"12&H`QNG2J5*K[PC(('.T7"M
MJD9LE\`$*EAB10M8)-#`X(,G(`87`!2^A!V:`"!X`D#\H83@+.3P4!1)-("&
M#0BPL`0$RMB1PPH-[&$Z`C\Q_E`:@WO&AC(ML-[`#4HLC842M9^!XRMB>%#A
MLRXP/N@#-;AMGA>K-#9`B>_N\&FQ?G2@``$G;('&!!B@0X<-!6#&3QM&^!'`
M_SX;)*#"(!J@L<40D:]AQA8-H`"!&!,4P5D$O]D10(<Y;8%;&P%@G!T4H)$3
M1"`*#K$#"[HBA*>UY!4F&()7/%0$'3@D!",@GO$D@+P__$(038@!#:;T(K<)
M8`H!<$(#AH";/=R@`WZ@PQ!.0``$-"`!#.A-`#A2``:4P"0:8&$;[O"'-9"!
M`/&#``@J18`$1(`!"5!"R010*ZZTH0%M.($9-H``#?Q!@1XJ0!*FU@(&<"4"
MR/`#"!BP$ZXT``2E,H")KK#!#G[P$A-1PYI4DRH$M`$!/#"!#AA`PX1M[P05
ME($,PH".'8((2#=X`02">((A%O%]#9`!!`10A!/8@/\(+P`"'YQF!Q?<I@`>
M"(`*UB`$/FV!!5-C`8AN@H`U`(J0&T!C(9[F!S%4P07["5,!XC``'.3A`G.L
M8P7\\(&'*&0,5ZA!79Y')1M@Y@"F$$`"^-$%,="!1R?0`0I0`((A!:!ZN2D"
M$3Z@`1MHB8AK*`+\9/`'`&2&`0$``<_^$`0+<(4!&"#*`*+@!)R@P0=^D.4C
MR^<#"+!@([KTU\OF%P40S"`!9J"A,!%PHP]D($H&4N8?6B$@*=`@FD=(4JK(
M<,V7I<&-+S@DD&R`!A8X9(<$((,9J2,`)$AP"'?PPQIL@$04M*`$",A)`=H0
M`1GX00`:L8$.0)<>'YBM`$3_&&!W&-"&?2@``P\U@Q!V&845>,`##)"@A^:S
MD2T<H#=6B,%4>G`OMW70(3C(P(.DM(/17.%:1RP`%"!@LB_<1$0`L$%&0=3#
MF]+0!FM@P!;,T(`5S'`();AD49.A@=+MPPR""<(4[#>$*?CA;X(`P1"Z,H,6
M*&`C3M`!&A`I!#:>0`B[H]57<.*5ZK$@"(P+P0\D<`4Z]JI71[@`+RP1%;M)
MJ2YJ.BX9`@,%='1@#M1C0!02&Q8%P``&,W`L`="0'01P!0&W04,0+@D_%&@"
M!!I(0U()L(<UF,"=14@"[%HP`!UTIX(.W0@,7K`"_*Z6`+@MA&[_8AG!H`!0
M@[H"_[SNEJH+++,)`[@&-3<H`:(6X``#,,("VD"])'B3J$680A1>(`9EG--Z
M)1C``F:8$S2T#Y,H.%H.,A6%T7*%"!VH%?Q,`*@!B("--41!0F\#`P@$P0.7
M.:,A2G"NG6RQ``U0P0"XX`<',&$,JZFKVQI2`6<4B,-4FNX&G#`#(5@`1`W(
M00S=>0(>:$`#2U`&&'R$AA_2[S8;L0$\MQB_%D2!`2X`@`AFL)$BV)('MZDA
M#\"0!/YM(0+G8`$_8.`0$R3@)EN,@-C^0&6/Z*0(#*C".W+F(!3-J0=2BK64
M5)+A'UP!UK+.]1'4'!CJ%<`"MOS#(0,#$`OHT$=[R.P?7O^@@,\.H9Q3(+2J
M==#)`K@SHPG`P%$50,,^964+#*#GDLW`:;=,@<09%0)+!$$KCWRH#4F0UB":
M<($QJ$&:2NJ!OO>]EA8T""9JX+?`]<V]S!1@"`I0P3F$K;[N%:"2$'OQ'B(G
MB"I\V@S/KB=`&E`%/Q`ABP_?2`/R3"04"(&H:*,A*I7\$%D6``;^$D/9,".$
M4=.*L?^P00)X`(*1-46O!:+!`QXT]*(/W<)_",YPC,[THE,!"E"'P@($<!"'
M'/7I!X#Z`18@AC^$@0I40,(+6-0".E!AZV,'P=.14(<_&,$'?8B`!X1P`!FH
M[B$=6$,76,``%D3`.@!:`M0!X*__92,!"GT``(ZL<(8%1!T*Y#`':!Q@@,I;
M_O*7S\`R0X#YSE_^%7$#'3?\A;%(F((9.0(0!#3ULI)Q0SV%M\,+.A`%.UCA
M(4,Z&L@P$(0Z2!)`R9@?:I,!^E43XF\?X((A'"B(L[P!!T/Y`/2=1'TG3>(#
M3:B^]K5?#/48;4ANL,([T*&)P@ML8%P>TOD/<;1!P"Y<]@@"&'00@`ZD0PQ3
M`$,`E/T''P0@`%CP$%CP?U,@-BCP?RK@$#(0`#I`?P&P!/246DB0!FFP`"80
M/O"G#6"P!P*!!%WG!P!@`3:P!V"@"4Y@.C`@"7.P![^F`2WV$#<@$"P@"6G`
M@0)1!'N0_P8FX3A[@!E%T`;8E('$D`R0AA,N,")B8$HTQ`.;`F4$X`)$,0?=
M`3\^T'40<`,T-(,0$`$:$1;_D`80T`'Z@3:*-006)(3#D#,1T"<<Y0=WD%1<
M,0==]P=0M@$N8`K8M1$]E`,C@X4$H(5I`!8(,`$KL`*?HP**908WH`(\T`40
M@X:UT`(8\%I@40`3,``'`"9(E`</X3M/B(?[P0\O-``1@!,L\`Y=H!$,`'VK
M-E0G0`9$8`D(`8FU@`4-@!M<D0`BT`#\@!,6$`9NX3L%X`(F(84$0&+4\04?
M<`-H<XI^D(K'*`1"<`-TT']$M0%DH`!)(`*T.`Q+4"D6<(MDT/]*380`6[`'
M7.('G@AS$`!EX,:%6V`!.B`$`.&,J0@B9F`&-K``2.,!G>2%#<!UW3@+"V`#
M)Y``7\`G*+<"DE4`8&`2'O!P+A",7.$!'((3#4!`G2$)J1@60S`$%L"/5E`%
M*Y``:``F"%!.`SD*?C`!#\<"("!DQV@",!`626`23J!%$]F.&^$!5N`#YJ5%
M-Z$`FH*%9I```(`[%$<D+Z`"FH9(4["2H_`"<_`/7P`!,+`?0O`!7Q`8:6`%
MZM@=,.<'<W`3'L`-(]8CS3@):?!P##`R/O<'&B`#W#`%9`!:DB*5H-`!VU0`
M`0`!`5`I-@(!"Q`8+)`'$.`$`#&19&G6E@YA!)FHAZ?X!VT)*PEPF5`P`)32
M!@H0`0V046V@DGKI"*^``190`$5@`A!0!U_"`"ZS!(B4`"#0.XN),<;H`79P
M-'4`3)AQBBT0`30$(KB1!A^P`F3P'6!A`Q,PAZ/Y"#&)`+))6$C0`!J@##XP
M.`P0!E>(`(.(,1/`G3<@>EZ7`-PI:G[``]R9G@APE5@``^A%/0WP!>O5G)\`
M`7<``CWW!UP@!B"P96Y1!B``!,G0`4_P!"YC:`6*0(00!05J?T@#`E<3!1W0
/`<RI`E\``Q.@FK08"``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>c24594c2459401.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c24594c2459401.gif
M1TE&.#EAT`(I`N8``%RS9)&1CIN,4'-S<??W]_T+!=N\DDBXT+I-HM[>WF51
M'!,>BIZ>$Y9L)NOL[!19I?[^`%!03I&\SNE<%N^E,1,&?)W1),ZE2C%:9+N[
MN]/+J7*TSLO+R^VK3-"/-#$R,EQFI*NKJZ)O4-6=R_GTR*ZMC%2\M:O%SN35
M7]35#$Z.KNH)34MX4C.ERU2[BNBT:=/*EFEN5JL*>42#F,*.1>_',.-R80H*
M"!J#N%`I9MJT>%0Q%>WKON><-*L;';+*KG"0+)",LRI1+DQJ;RXG$!@B*9_4
M7]/I$V]):)*LDO;;KM6P.'A13$188/7,BG"1?L.W#E>_S-73ZN[6ZFBEN<"%
MM).IK^R'#'.9J]Z;"ZV4A6N^2?K:$-64>OWWZ>C)W^>L$'_%-5.;O\K$**:E
MP?CL]^WK]W"P@SDYDL76QWK%GQP7$\WJ/*6[IKRJIOGU(Q$/,OCFZ=OGWKJK
MQ*:ZOKZ\G=?7T=V\VD*$<-]A$.O3-5FKS^^B-````/__S/___R'Y!```````
M+`````#0`BD"``?_@`0)@X2%AH>(B8J+C(V.CY"1DI.4E9:7F)F:FYR=GI^@
MH:*CI*6FD`X)?:NLK:ZOL+&RL[2UMK>XN;J[O+V^O\#!PL/$Q<;'R,G*R\S-
MSK@?JC=%U-76U]C9VMO<W=[?X.';<#=KXN?HZ>KK[.W=:^;N\O/T]?;W^/GZ
M^]=$:_X`_PD,N(95.7C_B"A<6&2A0X7P'DJ<2+&B1(0%H_4ILJ>CQX\@0XH<
M2;*DR9,H4ZHD*09-A0<K8\J<2;.FS9LL9\P0@].DA)\;>@HM^7.HT9`;3@0]
MRG1/TJ5-DPXM:C1`GJM8LVK=<://#28VP@J(08&/V;,Z#)Q=RT<`$+9P_^/*
M7=OC2IX>;"<4V+NWCT:.30,+'@RB`AJ>@Q,K7LR8IM0]2AO;I"I9I`H,0S!K
MSIP9PP#.FT.#'BVZ-.G3IDU_UCQCZ..I$H9VT4K[Z@0%7?OL"&L#+Q\@,>*^
M4`M7@("YR.?6O0I7+]^^?RM+GQYRQH(%*JAKW\X]YNNGW5%2UH[AE'E"=C`(
M!7]T/$TJ-&K35D!DU0X187V;[1'C.-SA';!E7'($GK4<<VM=L=<$SD&G"F#A
M11A82Q6`(.&%&%;VFD>198C4"=QA\,>())9HXHDC$D#`B&:L2$"+9CC0(HJ"
MD.C`BBCFJ&.)9JC7$XB!;2C3!O+15M\J8.G'%O\%+-`05P<P!'@6$/X5B)Q=
M6.6UEP<7=&G#!#[X]:!(B)79D9E[H*GFF6RFV>::;L8)YYQOUBFGG73>J:<8
M8CQ@&$]Y!HKGH'L2*FBAB!X*IX<S`1F2>XRR-YV(.U;ZQP`1_&%%'P/\$<,:
M`7AUPPV=FAC!&B,F\$$`?T3`2J:6[NB`CS=U&*2M*UE5)%8[N-)`<C2PX,&3
M!DC)1PQ.6BD7EE==0=>"-'0I[04TB+D12!@\H^VVW';K[2P0,IH2KB!!ZJ&0
MDE$::XX9W-#J#1_\\<$0H9IQ:1\)E)B!5W]PL,8-K*;"P0T9K*NC&4W@)`%4
M@Y%[DJZ[]OK*K\"RH.3_6@:\8!80R2I+%VWZ*5A`'M-2VV6UT7V$01$!M.SR
MRS#'+//,--=L\\TXYZSSSCSW[///0/_\0;CBFN1PN;$5S2'#C:EKL(D$W,#!
MJC<X4$0(H;9\*HY_V%%$#.YRD,&J),8`Z],G.M#$T2F9&]7"*HFP:QX*%-2'
M`@THP%4?PQ(X5EEP=9#QL1U[?"!6SN[G')?3VB`MRF.J'"_:E%=N^>689Z[Y
MYIQWGF,$1"LM$ML@H<LHZ8(Y;?D'`U2]:A\.A/I!'Q'D&\```42`N[LC1L#J
M'P2L88?F/4JZDMMG8J8"8B*M#&]V1B==$A5R%]F`W43TO5\#VB='Y5P&&!!#
M__<%'IZ561=XL!?)T])@0[0G6TLT!I-[;O_]^.>O__[Y@RXZ4=([B?'$A;S`
MJ*YRIXI7`O\0*@>$X`8AN%0,0@4/3HV(;'\(0?TP-ZN.H$XD!=S##%I1A`]@
M``,S@%ZV#-(:GP0P)%C850,DM@.*>8PM/6C27'3PA`MXC%E9N4(/NK2XDKG/
M<=(2@/RPM4'^.?&)4(RB%#'GO_^!\(4"_&"$0GB4`U(N:YJR8`/?Y0`2#:)U
M96S5[P90JLQUT(-8)(GI0"*&$Q8A-ZV8QBL^(!Y'@01BM9'8#6QX0[AX@`55
M@DL,ZF`E(&:%<>HKP`1*=@'>&'&)DINB)C?)R4XZL?^*5OP(%T>BQ?",4BA>
M1%L"!I`O!PQ@>!P8P(I6F:\2<>!WFN+`B$*@2\V]L2.CG&-)5-"9H<7B!BB$
MGAS]N(<`5"^07;F!`BY62!PB4BXQ`-"5BL2X(K:/-_!['"8]0C]/6HX'<3"G
M.M<915`R90-,<TT<55+*[@BSB^R\WR^!.4^/W%,E8IB!'?%HD"(HCWG^=)0`
MY'.;W.R`FM6$2PX3>186\*$#&C#6Q^3#N`OP99*-XTT7**G$E)&SB4_\01M6
MVH9:YN@%*'H!#_))TYIVSIU&><QE^#2$GOQ3//V\T`";DDJ;4FZ?';EG/6-"
MS!,:TQ4E/.$0LI.4)!2)/O;_*5Q$D<,?`5S,HA<M5H(<F15IY>$Y(/42;Y#8
MO@:,LR/EG"(+A$!7(;#@"6E`$0F6@*(LS-2H@`WLNG"Z'C^N03TMK)503MF=
MI=+$:6GL5V13Q`$<$:"RJ>JE`R9K1C-R;40<"`%G^_4'!W!@LH7X;(F0FE1F
M+FTH=3RA;&?KO%FLX0,1V(%N=TN$'1RI#T10@'"'2]SB&O>XR!5N$8S[`>)&
M8+B[C6X#KM+1!BWH9&MEZ[0:X%:3PA6E3IQK7>O*`LZ^@`(G>H%?!<O>]IZ(
ML#@1TA`.FUC'.-:%_]L`W%*7H@D"3W<1Z&6_`)P``@"8`PG0701CX-(2U2\"
M$1R1_P-TESM<CB@`=O!=!`IV8=P5@<-IHU7IR'7?DP#WN#M(KHI7S.(6N_C%
MQ;W!#MB7ON=\]`)=R"XE+\#=&+QU#W&-(@'$.UZZ)L%$64!OB7A`@?6Z]\GL
MA>]-W#-59-8JGC?Y:81.$-2;4`JW$0Q!#/Y+(MPQ,`,AL,(?,@#A`7`@!K$D
M$0%:5L:S0;C,$9:72^T0@CYG\&R@'3,'[!"`#-CAE:45<4AL56(3,P`"D(ZT
MI"=-Z4I;^M*8SK2F-TWI%$O+NL_);EC"*2WN<O?'08;BD.EZ!@+\0+PLR.N(
ME)!D$]':R5#.M4VE/.78+$P"`]B`0&W2Z"QB.4.,C0FE"/^09@;^KGX)QE0"
M"EW:#TPX!AD8@+UZ9X401(``#\YS$88W(O]>6,`#R#/P/J!+3(6@".G.%&M!
M$IEDJZ0/C^:TOO?-[W[ONU<*\(!>)B!PZTY`U"0UM8^]"V3P[L\+=3WR'Y)0
MUS:0:`FU+E&3<:WKCJ^3UUF&S`:LL),X->K80BEV923@VIZHR\]FEE>98V"'
M&&"M8%9+$9]SQTM0!:`('+!SGM<067.W:N8FLL*8SRPO7<I;T2#D<F#P[>^J
M6_WJ^N[5&O:BW0LX!^$E$T"/3\WP5#]QU4(X`XF>0-?R_H$'6<CXK./.\4VF
M0K4V*C![!8'W$_$]1W??'\A[PH'_V#P!*#.Q]Y!4+ADM*YM$S0Y!IPQ,H@\,
M[]!^#GK95-7TJV$MP6G<<(UL7GDI;#8!2X]!&\O,X0$4+,!'G_>(NSP3+(0J
MWQ!(`108L'LH'`'KD(8"%"A]A-[S/@7`IS04D,]IW4JRH]@5==>I9>H>H]KA
M^I.#>"5.`+;3=7@8E_L?U!OWOZ+H`Z,J!P:!E_[V=ZI=%G[@\.0/VMEY198E
M^ODJUH#_$:T!T`FP!B`V(NU2!)_E+Y.#*1?T`9^E.R-R1^WW?ZD2`;D1`>1V
M(AGV*I^5`46P"J3"->B7?K?%8>TB@A^@;B@R>%D&3R?P`3.P7\=#>RF'<D+5
M<C;Q<A%$_P#CEFZ7$CL6:',3EF$1AC7R`F[RPDL,:#89$`#Q$@"\Y`"KD@&J
MYVP\R'-6D`&NU#LD0FWL%GM0-V)[P')"X4Q80760!@2N,'Q8EP*KP'R1Q@"N
M``25!@4*8'72I&]$X`-I)2TY)GWA1"4T4'VF=GU3Y`!UI78CXGU"D%=TIV1O
M1W=UYV`4ABFD(F%]H'JW<SL%LR\WL&UAI$N;HDMV<`,0MH02."(#L`;8EFW_
MAR.K`&*J,(`9Y!7J)COE!BNSLWH1L'2DF(D#\`01!CJ%QH36=B(#4XK$F$8!
M<`,V9XH,>$$0UFU,*#5K=HFX@RE]8&'O%3KO)`'S`B(TB!0R./\44B<Z0U43
MZF('O51SOQ,`9:1TOR.%>18`*^)M.,=&^3)GJJ>,P[-*Z;8BF5B/;)1NL;-+
M))(!^2):&91H)<$>^F435`!(5V&&$,`%*9`"<$@$D7:1D78$7``!4/`&':F&
MDX8;=S-I<+A\%^F1OP<!+!E<+:E[&^F2;@B2;L@`;NA[,\F1D.9I)2-]EO0X
M+,`",3!V#;!PD7-2.2('=K`B3&D'FP65I24'7:,B:2`$P^-J+)`$9>0`4BD'
M:3"4+&!Q?^`%WI<$!.`$C4@BMU9^.L(ZMM0':N8`?2"+!-@'ISB+NA0"?=!N
M-\`UH0**=5DB`5@J>&F`J3*8)<*7$0#_:+@U.69S00619[LX(C>@9B>B"A<8
M/-KX!T7P;69D01R0C:O%?Q>T>E&3*?LR@!^`*CJB@@JS`44P!$G!<N'86M*A
M>-3!>"K#2:)EEVO&2V[TA1PR8K<9$E2P4+5!D9"6`N70DA)#!,@G!#M0$#?P
M>VZ%ERT9:3=`G3>`DGV0`F]P!"()AW)X`T20G6L``0JP"D0@DG?3%>MY!':S
M!K^W!G4(!793AV\0GR<)`3XI+4`9%I1TE$,IB(1X(FW`=D=F5V>0!FT@!$?V
M!"SP!XMXE6=0H6PW5RP@!V<@!$\P9"S@!29B!]OG!>$G=Y`8B96W>G]P6Z6E
MF":R+WSY.Z'X_XGW(F`.D`$K`CKOM08K(I>G&(LFPI<#`#NIPC*0B8N8\HRM
MPHLH*&$`PS6G-:-]<(&[9#M`:B++N")P*6>D6(T#2($[`ILX\01K,`-6$!3P
MA!(VJ!BZ.1V\"5><E``AT'=BXTO$*7(?LA*VMRO,R9XWD&^X(7PR!J`WL'OX
MQ@5W<P3!)6ELR``I*6EPV`K(AQO5>00IT%L8V0?+-T@0`%PIX%:[EZ@IH`#(
M=P-RN`8[,*I4!UQ'T)X]J0"/,Z#35WU#691'F:`FLH@41W%XY0`1*@0_D*$6
MF@8_8%=Y):%>H'TQ\*%V-90X`I:*.*)MF7%J"8GF=R+KUSON0I>X$_\"29!F
M*[(O9N!C]=B7>KEN?N%Z(.BB#*2N?=!G@TFDB]F7`(.*N+.DIQD\2U>9?\",
M3CBN5I!&1ZJ*=XHB`>":Y[=T^C*8K,,!@\9F@[F:-A*FK\F-3($!:R!L3@$B
MI.-XMV)%<:HR&7"R*)NR*KNR+-NR+ONR,"M@P-.R(4"<;'..($$]<Y,'S-F>
MN'>H[+F>U`D!_2FIND$?ZQEI[0D$<%B';^BI%^F&7<%\C]J>PH6>H2J'*>F<
M>*D`OR=-4."ID(:?10L!<(A\1!`#.E!)MDIJ/":(#9"KW964WX4BBYBL%&=D
M$4JA0WFL">!]5WEDW<<"&?IJ=D6B$U=D:I?_HK7F!1VPHMMJ(E]*(D/0!S%:
M0A^0N=%0C3+R-01PHS<*/$S8@2?X@/"Z*04SKZUB;?8*>7TYA3J(-?PJ+YT2
M*J_'BYBKN0+F;;,SI28R`$7PEO!*H_*2?EYQ9]68N1&`?EV8L8L!#QOP!$]Q
M`AQ0$G.:96^*(27;$2J@$][[O>`;ON([OM[[!.1[ON.+`0,X!..K3*+49:2#
M!<JYLQ39M)(&M/0!H!I9M&'+M$S;D>@)$>'YM#69>U[AM"G&GOC&`/_;!PT`
MDF(+!4#`%>?9`&&;;X-T!%1WMOH[`%T@`O@!E&%GE$<9MT3)JR4BH6QGH4_P
M`W+0!AIJ5\<J!RI%_ZQS]0/`F@05FJPL@"/02E<6QP-@`(GH!7>0*[RF\JTR
M^K!E9`?9R)=[J:XEZBJZ-+E;**\Y^)FMNTM]Z2\$T"YS-KL8!#H&QHN8N2/3
M5HGYQSLI"&AW63!?:J0'R2E8$P+`:2H:"U`GH0)XN0=-$!M*P4S,<[WQ1<B)
M(;+<0<B@>6'N"T!NBD58\$P[R[/YUI_2-%P2[,!H6(=#VY]R"%SZZ;00X%8M
MJ<&BW+3#]6@*`8>/)@1KP'L.;+]]((=AF\FP_&CX"0'^P`"]$I(;W`>_)S&^
MLW]@ET1P*X@L@,(D0E=/T*!`#,.E=5?'FJPRK'W,[``Z',TC.B(4MY5DF?^M
M:TE^VHK$)2*!=`F<^Q)ZI**N-\J#<@8JK8*8);(U?Z"Z\6J[1:JN5S,`8\:$
MMWB:$O8U$3`$EAFE&:2-`]!$HRFSK5*[6[K&7MI&H1)A%FLP9CH20Z,"-[!3
M'Q%0EP$/#?<$6$`%(+L!8K`&F?&"X[@8.*N]V7LAY7@3*H!+:H,2#]DVTA/)
MDYP5/AMIOD6=U#E\#4"=3ILW/?EHO$R=VZD`0B!I"1Q\/[T#0B"IT@F@=9C4
M9DL$0H#`CP8%K<J>ON6U[/EHL:K5^;8#7;T#P4P$3+`#3)"*1*!C;55]NEI]
M[5EVV.=Q\A)_@WG.*)+.*8)^Z@K%K?+0I05!U6C_80/S._;L*5TABX3=I+KD
MSY["I"2R*<QHF6>\QEC:F._EI/UB04Z\>J/X;!8&-OE2T8.5QR@A!GUPTD/0
M4WM`3+%=)B:41ZQ#!1U1!"FTO8%AR(.!R-OAVQTQ!(#9R'UZ/"=`ACM--[^%
M>\D7W=+];[L1%EV0`=E%:F)'PB7<W<H<*S@L!P20!$=F!T_P!T]@<0[P!';P
M`T_0S.O=S'W7.;@EC:Y2*N#:;>-*;8`-6ETAF+J4`;=EQQI4!+6TC*ZWA+1#
M(HUM!@4!V8,-+Q<FQKK8!P0=L!.49G6\;@"#9I]BEPAXLC_GI,NXBLNXR%8\
MBJJYQ-SV.:R-$@8U`[Q=_T?;,"^;L;SSL@<&A05T<#K'F1@!A;Y/$`#H6^1&
M?N1%'@#FZ[TT,=-R)MLC(=Q[@`5=,!N3K#>Y@9Z!.MU<WN63EF)KU05NT(>D
M%HC'#+=(>2V9A#:_>I4[7*%TY<+$2G%GL*`@2I;Z$P.:JSL@!FXX_IAC9@>@
MS4";.S:UY``Q<$?P=H"G0HKJMF&+V;PD,C7Y&`&8*68=5F[J-F&_L[PX[NDI
MPH3P8($YLDIWU*U_D&#P4+IEL]F$;@>"SM![[>(WD1E[<`,@D1FYP=M]D!TS
M$-OU50188`5[VAW$?1,S<,=Z72(#@(X7&`#+%!,0XP$&($,2XQ7I.9$-H*G<
MGO\"W?[MWA[NX#[NXE[NY'[NYI[NZ+[NXL[6HC;F(_4X=*UPW/W=E=)]T3J4
M7I"L%CI7$8K#($K>(/H#\[WL!N]>%ST2?")"(S$#'Q!0>#D$"'4F$=`$35!?
MR+;239'LF'-9J5)+E26Q@X:G7`-B"+8YS5X3;<0!-JL2$2G)>6`#.F`#6C%#
M=N,5,Y85W[+SM%#=V64`:UMJW%W7=&WO.V('=A7G=POG24"A<^[-$T=Q6'KP
M5(_P+]X38L"^?A'E+RTA4CX4''\Y=#D\_T(`3DR7K&#87'S@O$.!C7TY*4\3
M0W"!`S#Q?'H2.ETD,W\5>^,*1-#<U.4!@C_XA%_X@F__\QO!`BFD`HS/^$.`
M?@,@`H8_^8//!!6P`)>?^9A_0B(@`#3P^3Y0`#ZP!DUP5J%?`"(0`RQ@`_C1
M^D`Y4G40]&=^S+IJ]#J"].Y=7G<K!!::!&$YYW85`$W/=E19]<;?7@E?$UK_
MA;79]1'R]3T1]I>3C:-9EYM2SW<ZFNJF@_A2V.ZR+X06O)D3;#;1!#AB!U`.
M3.%H>QXPR0'`!&E_[3+&!#[`!$R0`_B/!$PP75H!"%<]?(2%AH>''@TQ341%
M1$0[D0HT?`8ZB)D>.16=GI\5&"P"%Q,%!9(T+!<TI@4>-`,Q-K2UMK47N74Z
M`@V+OK_`,<"^'WT?"7U%>\S,_Q@??]'2T]31#DER:3]_;0YR;=QI?VG8:6U)
M/VE/3]O5[N_P\?+S]/7V]_CY^OOT$<O-``,*'$BP&889?68,/,%L`\."$"-*
MG"C0(<6+%&=DX!?M0X0!'X@,B`"M3X`0`?K8F18C98(_`3+<^!.B3X(,?1QP
M_#/@Q`:,`6<$D/8$H$^(`43D6<JT*=,)"M;T&;F#:0,XH+)ZRL%DZ95,8,/R
M$1"#+%@=F,2*T*IU01,FJ/HHR+4JUP4;'FB)8#%@@(A;M&C8S:6C!+'#PWPE
M;B`5F;*`SW;>(^!%LN7+F#-KWLS/']#/S%1@N"%&X-&&IT&+F<&ZM>O7L&/+
M=AU@MO_MV[&#;N0X8,V'OA^*#/ASK,B-H78"G%Q#P&:T#&O^$/!H["7O/:D_
M#X\60N$>"1((8@G@M'S3!D3Z]"&B0$>7I4C8RN^40T0EL?@+`0$2`\A9`V#1
MP,E\H.0@A!!K-&!777;9$@,+#P)FPV"Y-""`8<$L=I@O"AR3S#\&0</9B"26
M:.*)*,[C&6B?/6/:3P%EAQ$&=6A@XXTXYJCCCCSVZ..//@:@VTXX]9%!D1L9
M2<`-T&1`DC'JY?2'3-&8P8%,!.PT`#/@L2B4-$U\%YY`29EG9A[I];&&`E=X
MD`<-6A`H9P4+<&6?!WC6P`4%^14R@`!`"`!6!S`@LM:<H/3_(<0H"PYV2PPQ
M[`48A1?T8F$(&PI#S#`>/@909"F&*NJHI);JSHHLSHA!0!+`^")H&/#@QZRT
MUFKKK;CFJNNNO.Y:PI`<+<G<DC=D:>0?5O3!@317XA1"EE0Z<%P$,4BV)9=C
M?M:$3C0]\5`SXYUIY@[JK;$#GA>($!\(02#J+IU<0`!!#D@P(8('8O4PRBA@
MO6!`!X7$E]4""]`IWPXTJ`*$8`P*`!BD?]E"Z07$"!"""!EN2DRG(#HCXCXG
M24/``%9,$T#),4TS\D8)#!"`RS"S#//++R^;P5#4C$QSS'^TO',`UE&3P<PD
M!WTSLCA/@Q),/[L<C7(S/^O.SU9P_ZOSS,M.XT``$40`M,DS?QT-T2^'(!W9
M68=`MLLH96ERR?N@FBI%&*@`4)<%G9#M1;'VJBL/,<CZ\JPQU"$+I"7<2D+A
M?@`^``F-]_6XW[C^"I!&DH5,$]P#6+<T-0-PFP#.',0P@-O7-6/19V(D?2TS
MY(EK'KE]W*"`!W8Q\0D:9!3\+H$IR,M`@?B"1<$`_`F:20<:`"RP)P1'+[WO
MGY"2RX,"U$4#I!+>,K&FOI1@::8-T-"#!QQ#]K$^)#%[0['1+#F<<%J;-.4Q
MU'E4,DX?Y!_!1@,H0C62T;\G16!_^'O2<:HQ@&,\*3V[`0E,5$*-#U0K`KXQ
M8`2B<8,B4/\G`C>(`.JD@3^/%&$-RR+@!Z?"K$=T[0,W@-L?BN!!!9J-./W+
MWU!42)((L#``U%&&1R+``19*(P0WR!K[.C8WB=A-=7LC"-[X)BO*X6H-)2#!
M#?I@HSZ4P(4^#("MM&`2/QC0#P$(X0<@9\5:6:X9F#.5B5Z'&M`,00Y/$P,6
M!""[V6WQ!@BS"PV>YPDT!`$-=*+>[SPA`'F-@2U,$`L06,"OY1E@`)^8WO0,
M!@H15*B#E,P%+601,0E52@`B0"4-QK<I\1U&`!X8!"'0YQ@F@@IDT8F&%?QQ
M0YQLI`A)^X,#6(B3E50#)R.41@`'2,%C]F&$/F1@'U36/IY`8TG_P;0#!7_S
MCAO<,!H)6"`U^O#-/_BC9\U\VK'L<(,AF.Q8,PQF#.!'3G<DPYC<@><?BEC.
M`=S`F.&L5F>8V$2(L*8TJY.(!+XUD;ZUT5;4*@&3E',#$HAD5A>EE0:,$P`>
M]$$)=;@!X(A0@BH^=%9O9$8<Y4@B.J+&5101@SNE4Y4^.F4'6^S##B@D`/DL
M@`QH*%CT%EF!&,B+"XKLI%BRQX+['&(M0$VD)J<*"B30`$ISH:0M]C(`P(A@
M0`7*0000PP+Q"<!\FDC?I]:7CW!:QVN0X@YS9K@=:]@/)TJ<!DZX18T`")`:
MR<BK-/;ZSF0VL*\S@8F()*A,$7VDFS+L_TA=2=C/9P96KWTHF3_Y&HUJ`O.=
M*ZDG,_.*$QD6,;+3^4"6`IA,?,BMH`4Y"&L2.I$I2L2A)YT52'9+K0_XP87!
M21P/AON!)]Q``!KH`P_JH-S@?&`-)GUH2O>P4B4>*6<9R-J1CD0`!V3`.OB<
MAAVXY0#!-BN9"7#`3;*;LZ"YPZ7-D)%$!K";V-DT#U%1#Q&LEXM8L$5ZAR08
M)]^5`WE!(`8$<FHFF*H\0O1`=YT(`@BF%U2J*G(!4ED37;)72AN0T@;J`JM\
MQJJ8IE+@$GQ*:RW5MY,/#&5)"9A#+F41#>$DX,8)T.9P\.H.PC+PK].XK#,Y
M"T-I:LTC8Q.1D/^7=$-NNL.;F"UG-$0[MID(>6P4[%HU7!+/:310)U0.LK)`
MRZPP_T''2'3O$F$KD2'<``.TI4B<8QO=DY:@#Q&X4`C%6`2OW2!Q=SX&$;00
MPN0N5[FT*H(6<NN'Z<8Q!'^U@LL$*AT7#\!LDBM6!.P`#0Y(.1HQ@%L&UM<U
MM8F0)0F@EM-$YK5XP#>^,$6*&SP@@BHIP*8*R*EZ^%LI$4//8-&3,+"3.I\%
M!._``V:++`-$R?MX@'H$"T(0%O"`:EL;#0_0)"AN0`3!T(46?-DJ"Q#I+B9<
MH#_+U@&`5/PA%O-F@R&`AC9_><,B1.G>0\')^_8-/WWS^Z_+!&SM^-W_;P=Z
M9`U%^'0#\^>;K#'V#TY.EG5@2'"<=3!_-Z#T-*82@H['P'X\#,X:<$8_:B3K
MES'HN-INL)V!\WLE(3]A,$_[XS5,-FX$97-`Q(`!8,9:SO(5"&YSJP3U:,"C
M?8"!']8@`#_X$P8\T$(2!-"_#BKA!G4HP1H65U(L,MK1&^':7\?.K1!L$.+*
M'`HT-GAV[@1@62UY3MOMT/:^>-F<#N`L3UI-@`R$P`IVL(+47AW?*`:$"N3I
M`@WP6]\S-<`'Z+GW>@8C`F)/-7H@F/"PD[WY!3#`D9MG"Q+PHXI1/$]Z#U`!
M%G"`@P>TOMK4WN0G<C"8[=4"8E^E$P8P0.S__U;2$/YBMZ="1*1BQ>#L-H8?
M7?.>]V3L.+/;Y>[]HG]=G@!9&LFP`O6A91**LE69Y)0TR[W\,7]F2<N=_5_T
MK9-Q*W`-A>\08@%OF(R3^?4#?!7)EH]UPAQ&X)LFL7WH9'_]HW?\Y`[]8QFO
M97BPA0%B,`#>P2)!]REU=E*.,"O/-2O"X0<DT&>W<AQHI!Y)X`?&Q22,UFC`
MX@`"1`"Y]#_<<7;3)$PB\C+_ES3*X0`1,`?_]QP?HSEG!F0$,!1]]EEZ-10<
MD$1`1'>8%A&VU0Q4H!1YH'A,L0-98@<UU0`*(`FZ5BZTTP<*D@N8!`J7-SWL
M`FS#)CW`9E00<`2;-/]462$"^*$O+.`[T5-MK+<!=-`"+<!ZK/<`V*9MC-0@
M+&`+$3`$&)!)XR:&R88&+)`#@](\B:!6Q,<1VL0!(Y=D5O`Q)6=7^39F0S8U
MUP=.GB@T?6`&SS%^1L8=XJ18V'<#&<""NP%Q-R<-4%9I:Z!F4_9IZ)0U=K`&
MIV9.;:=,-Z`31%@-9B:*69,`OC%"-%<-Z+<3<M.$;*8"3Q"!J3*!SE"!#S5<
ML\*-C5-%/*`$M^*--D(K2J`!)XB"E[,;*B@=+;@;!/`1O?$TL?@2$9``IF-.
M)W%\H29WTN"#=@!D(;`1&\&"[G4T'-`D0T$R/*%0>[-'3$$#[[$4#;`#.`/_
M0I*G)I"P`W-Q`0K0/_U%2%(E/>,V5>PR5$)EAM'3!/'R!DU@86RA8$\5'Z)0
M8:Z'`WIX`"VP`>&AAWP(>Q5&;*E$"Y&"!,^S>^2F>[RG;02S>P43%AWP+X9`
M2^VV5I+19\XQ)1Y!:<4H3,0TBIBE=V,3BKO88U*23Y&%92SAB0_W!Z8#1-/@
M9-400](@+<%(6?8TBCBQ'2D1BY6&?,&T<;IX93(Q60?HC'>)<["F<S'R<Q+H
MF-F8CI(YF963@G^52\@0/Q-78T+#`0%@!@'`:3=F!S[S@M*Q3Y1F=UD2`WFW
M&Q]`6LBAD#RQA!)A$0&P>!&I!5H8)7,53N:R`Y#G_Q0+P@)`D`LB-H8+X)0+
M4`32PSO(*3UO("\"\)R]-WJ&\&!@E9PL4&TY&07>&04'$`4,H8=[^'K9AH9:
MP7L#@Y1"Q9[2`P?)>8B=L&R(P#P`,TN2Z#'6XALBLP9K\$V;Z)6=&`(<4*`%
M^A*^9`<&R@$OT1L*:J#H1*`+BJ!G66/*!WY:XXNKM3Z6^`&1U34/:J!94HMH
M:8R#"98?MRRI]8K[Y`_6T94;]W8+"G-@Z4]*U(S4\(P<L2*VM0&0^1G2.#=Z
M0Q!#1YE&>H)@9PT`-Y`;="0.\`$W4S+MR&HPP0&A(VE.0J!0.FHAL#4E\Q%^
M%P$.X'X<L$'3D0&92!/6@?^03;J0FC415*`%=7`>3)`2O+F1VP&%YF$7@-)L
MIS=5095M:."40,"<T6-(07EYGP<!8T`PB=J&;4$O(GFH>,`"*A">W_F=X3F>
M/OEZ@`@*ZIE)B:2<"S"H2[F<'V"(U$.?F6``+X"?*V:51&(_8'*A`3I,SY>1
M39*1?5`M=GIOZ*2K]\-9.@8Z,3A8+-26$)>5'<&K+T&7TP!":G:,95F7(10_
M#10E'X!/,$I"&2E`5R9,3%)FNJBC`X4M`#%GH!&D312D0\<#`S`K==`UXD@K
M7#,Y)4`MXL@U=>`'6:=;M%("Z$@K==`_`U!G8A0YM<(#U!(!;'0K22H=L=@V
M9[;_$EO#CGEE!Q$D:J%I#3<8#9X9#<DA-<HQD!Y[0QQ`7B_1=\+T$J39D!'!
M1TMA`)$W:+I&!`TPA2N!*7O*IP/``O+9"<U);=@&>]EV`PT`!%S``$"P`_!9
MJ@%V>8T$`2E@;59[GFC8>VU!,*[7`I5J`F`+MIFZJ7M`GGT(>[+G"1B0E(`*
MM-%3DQ^@`%#@AA70)Y?`!U0Y?/JY$P3``:98E^$U7M20LM*QH`:ZLH9[H,*4
MN(6;N(@[0.&UN-5@!Q:K9CD&6"$JHF>F=^653!S06H6+7I^+?1TG6(+K#HG+
M`2O1MZ+K-GTKECV#BVO&):["DP6EKK`EC;BE`5W#@1&P_UR^):^_VQ<P\`$\
M4`(QX`<Q0`+Q.CE^$+Q.ESCR^@$:0`("$`&U0@+8J[W0VV@14`?]FBL1.RH)
M$+);=B764A`029$[X&)$,'+YI1X[0$DLL!3#00`UU124$@.ABGI7:[78A@9"
M<&P,\+2.:@43YJA$.P0&-@-\^)-_R)3%5H<X<`"L4:DN$+8FH*F;N@%FRWH1
MC)(&L[;4B0&&Z(<>Q``,D`)`H`!%0!]]8@DZD+>V]'TL=<,XG,,ZG*-,]!!'
MP8!`QY@5P5![@%L#D*_?V#A;UXVRDJ_AZ+O*R[PPD+#/2RM'3"O42RLQ,+"-
M)D9RVKTQ\`0!@(Y:$`,>`1+)._^^HS*ZU<"ZZ2L03Y@'4)$F^E4"&3"%M=,`
M+/`+^+6S.<L4%#)(T%.'-_G`#YQM?KBH'S!56``"14MM#Q"=$'`&?-BIYHFU
M(CPPA-P"!V`"0.L"E)3!&^R=X;D'X0D>Y+F'UC:&I*K`U?;(#[![10`$GP<%
M#."TGF"=??("=Q:KD[C#P!S,PAPJK^6CMJLWV%@0N,N8M#5TO%LK86PK#*MT
MC=,2:%0X$:`!=2`KT'O%L]('#QL`TJN\YYB\8%P6QJL<S[MHV.MH,4%]\!S/
M\CS/]%S/\1RY@P7/$7!X?%21.74#YM(56D`&BY>SD9`'$++'2W%V7;$4N--?
M`P!M7/O_(*G\P3^9;0Q@00KPRHCLAUB@`M:&`\?&!BTP`QC`R1:-R-0Y/=S9
M&BU<J4*`!V(;!29P``?P`>%Y``NEDYV*MIHTJ'58M/]K;2PPP/+2PM0#AS',
M!Q>0GT5LP\,<U5(]U?GP6GO`DS^Q4%?]&40LQ(T9F1J%O;[;=+6B`400O@P[
MSHVF!4><O&(=O;0"758<OMKK!T3P!"5PUA`;``+0KUG<SCNG`H(]V(1=V(9]
MV(@]V%;PT8G=V(2-`;HX`$U@V``A`E#QSUCQ"8=4`9DW>WGPQQ0Y%+$S&`*0
MG8[Z`#/``%`@!N#)T^19R#@@!*7Z`$7@E'[8T2I@!:RW!?)"_]('@`<-8-/@
M^<&(_*ACV+4'@`%`8&`0H`"5R@+>B0?2'04*,`/AJ0+BZ=IG:]RV#<E]:,BL
M9](8``7!PQX?<(B.N-1XZ]2W1-7N_=[P[8PYAQW,P!!8?1')+,0.\1/.+-;6
M/"LD0`(,.[!I;2OQFKQNK73:.UQ')PNSH@%KI`$PH`'QRM=^E3B0\[MH5`(!
MX-?HF,9>C1'Y/1%#$`!B61MP3!Z,43N9+;3PF7D"UMF>T!2WE@=,\`=R<#LA
M.<A<*P1```7R`@5`,`3#;=%G>VV[]P!#D`(.S'I4L`%G("]OP`)-L!]"#K2F
M;,E&2YUVV`(T39SRH@`L\-S2S0*&R/_`$8`',_`!5WT"1>ZI/XT!(0W>#YSD
M"U"H"J``R[E[,:#>Z^W+>QO?@C[H4FW5V+)07=+5!#'B7JTW_>VO'81P#%O&
MD1X!QN6?8ET'8C1I?@`#'L1TC5,"_3H`1-`_2J<<8UPKOL4#-]!H0X1&_2H$
MZ`C8(8[?/WH18K`M6S8$`"$`4"$5-]#BT5,$38`%6.#3)TD?3$$$H<T3@M%3
M0DO!."#=RPT!#+#!.4W<AGR3L3P$82`OE(R3:F!@:G``0P#D:Q@!8I#MY>FI
MF*Q)78ZI)J#:+%S3.DE)>"`$Z$ZU0L``&."=;JZ3V\W20W"3%?W!0X`'*!P]
M<"`$2_D@,BG_%C3L;H1>\1:/PX;>$#XZ)HHN$*U2ZPHU!-K(:-4[*U!'*SS`
M1B10`M(KX+0B`$]`S;KB\KHR72`/$4/:1+DN6#`Q`XCWV400[)E4APK``%C0
MY*T75,F>`TLAMSXP`1.P`W&`@W_JW9PL!GCPXV-@!!QLY'3.>G@P!@9F!'K(
M!O+"]=XI!,+#P=K=AR',TMB&DYP<!2H0`W@P!`K0TY2T>RN,A0H``4#P!"PP
M`VZNRN].U')/GJZ]APG_[D(UJ$VP2J/`JF`Q\;*Z#^MU)&Q\9H)5OBH3I>[E
M7?"L$S<!6,FHHM\E-)'K^=-0H"`;?9M?EQG`63<Q0MYE#;O!^MBW_QM7HG<W
MX?O19P<CI+'P_/K;)?S'I!RX.*8G@3K>Y0!]%\^PVP_S'5_UW2H<@/-`?/,4
M>*1^P^%<7"M\/?)69//<+T7;/R.!"1,*P!@W,/34A@,8(+='<`10T``84-.J
M7*I`!0AP'PT,$$`-1#X#?P,5%0N0#S@X+0=1ERX18B81EY8MH"V3HZ0XDI,0
MJ:E';*EL:1M1)@U`$0QBEYY1H:,/#VB^:)`+#\2GH4,'H#@8Q<4++!@+*0H,
M"JH,0Y<G>\S/D<0X+*`'EN:@,RRFQ,,+CHX+-#$L-`(L`GSY^OOY'GT?"?H4
MV4.0((8/?Q(J7,BPX9\`?6Y(E+CH3PR$"_\'8/P3XL.:#Q]N#'"0T$K$B1(S
M,.H38F&`(@E?)HQ0A&3"##=49MR8$&3/CR"+]!E`(.-0EWT"+`S1I^2-F#`7
MQGCZY\/1A5:M,(0XL<^:`$4MGD39$^6--2UO%@%Z(X+-AS>"KM&9H4^&!"C'
MIG7(5R'-@H`!2]@@8?`);H$+%D[,N+'CQXPQ\/!#N;+ERY@S:][,N3/G$I!#
MBQXM`?%HQS,"O$VH90V<=\,DM1"#1PB05`Q8N##A:1V:(&A\-#@"(46#!CYR
MQ,D`)]*D2KE,F-C$6_J><J%$E=J.8X:J[Q#>J#%Q8L.,#WA,8,"0RY.R99-\
ML7LFS)=]4O+;#3O_*(0%R-L0X.%)"U:`L)XP"P!S"@OEY%*.,C/@8<HW[KSC
MB`A\4"#`//;$0`,%_.SC#T`"!7907R@J))-")K5T$4,#1'#357_8\5%"(5#5
MT``1V:%B5"L2$%="'-RPET(Q,N13517%9)="0D9P0U@/]?$DCDUQ1-6*"@U!
M500W*L3!&BQMU4<""1$`D5)_#"&C0Q\T28"4)!5)5$)V@%04!WUHE=``-Y!4
METXS\91B7W]!ML$>&Y0G`:.)E7;:I)1*YIEE,5RJZ::<^@$:I:">UFBHB8D1
M`9H+D=&<<SA88@(>`+``Q!%0,+`%`"[L%L4!ZRQ`!A,[I``!`R+DX(B,_TW(
MUN`ETC4KW25XL,`@+[W$MYT+X*G"QJOD6<%"L[JV=XYV$[*CWS`(GNO.NI#T
MU\P'4`C!0`S*K!,$%ABP\(POE#`H[JYX#%%N.Q96@`0_%]@C;0P]A-C//P$-
M!-B)A_;%94\QM&FH1C-%0.4?@_YAA8XP"K31BEPRE0$!11CZIZ$18!0G0S>P
M"5>1>T'DD4U,.0450U/U!"BJC$30IYE$6U1$43&\V5`$3?X1D$I+BID4R'U0
MF:=*(?OE=,5\)1H:-X-)"MBHI*8=V625::`$923PH$%E2O`00:=XYWW9IVKW
M'1C:?5.A`*$XA@.*+"8````03RB@P'%`A!$&KO^\'?!,!4%\`,0'#+PV3`8<
M)!.=L\XRRT*$,U#+W2B@J)&M*BD\(=T9LI/.F[COQ6>NNN<6['N"TA8A1'=%
MS)#?`B`8&(WA!WS;'L`S#`R)[SEXX'`/&THK0,/\C!BQB2Z#_?-"12SRXDY2
M7XF5C#GRQ:,=-8]_<0!M+>T0QUC);/,??.[U@8P1<!I$QE21GFEI?%WZ4HPJ
M(B2('*E*29N:1;Z&E:C9P2Y\VE]/9,2G4S6D:X42'Z(D-IH3+.9LIO%;WRSE
M!QY\X"(!\,/_XN2'ID6`"'K+(=[XIL(>ED=M5,A##N"@P3I@P%4N`,`6+)""
M`"C`!P6(8@.R,(8P;$'_5RWXQAJ:<)`B&.X)?ZB=[4IW"16<#@\J@,_JLM,"
M([SN.V?``Q[4<((QWFY`V@D&[Z;GNSY:"!KK&8(O,)`N2("`#/EJ!G2^=4?:
M1.\7^BE8#KCGL'PD3%HTZ![$2C2Q\(DO`'/)@"BGPH$VW:`(J$1E6["VFI>)
MK`\!C.6;>`07'Z$L*FFZ01]*>3]#+0DD`PC```;P$9LX("<@NP&J()*`'*G$
M@"-#8$*"5I4`K"@$:PB(GU1T)H:4*09KD&4$_/0_48KR`TL#H5\P\A*!#"`$
M85%G`$48-A**A@,I)$@^>T@J%FJ@!#RH0Z8^T,(B\`"')""H#A=Z*1[RTV\_
M_PP5%9A@K`K$:349&$(2ESB&+'1A`E$,*10G``4+7'%7O4(#"_#@"^B\*@,!
MP$.N<F6"W9`Q"NF801K5>`K6L;$5;U1%&%B@`C7088SB@L_NAN%'1^3@`W"8
MB`AH4(]B.2)?*H4$&J3QQ]]@``^INP0C>2,&=?2*J9*T7B419@\@9/)A)++G
M'BA&3VY:R4H?2$O,0L!7OL:,(WUH)2,0PA1A&K8BM/P#*A\")%S^P0%6TB"2
M*/C+%X+)2.C#F)/01"<#MH^Q#/&2T"0XS(`\D)G>U$K,@LE:G1CMKK`LI3JG
MZ30"9$`C_Q"4^O[PU[HR1&RB610*'^HW%KH0:G>[F_\?UE`'Y2J7H=#5C$.)
MJS83A@H)CF@.%!0`D(5P0`A,O$(!/AI2D4*Q`&"87.5$X8MT2.``TLD5`(0P
M)\4I;C<VO9TE5(`'U?7T.6QL012""IXPI(>.-,WO'>MUO`H5+*I](,(.^B"`
M"S1`ES>X@(8W?($<0",:[UA/P1*$2!;@P@2,C((<LT@A![^C>FM=J\*LYSU.
M%H2NOGV)`W;\L?,A"2$7Y.5"YAG-^V6I2%:X)93^!Q'"_5A),JM(`HK@L305
M(2^!@J#4UO#.+!49E+]=PTP6,;,/V$&;2%N(!)O&EXORV&J2]4D"DH:31<B3
M@KX%+J@B2MU^LFV8?FBN'Y3_:]`/\,"%T4TT9J;;9U*=<#0JJ%`1@"`L"(SA
M`X3C0`.B:`,;K.#3*Y"!J!N@@"A.(`57?-:##C"#)]#!!4+8@N2`$``K`.%6
MN,JO@]BX.DJPT1*N(_`1QB!'FM*QILA^UB6T4\@'PX$(1%!`A2W,807L@,,<
MQNX"1'Q5%S\"#5;@KPI>Y0(52PB2:"T8$B@98X?1`),UEBN.ZWJQ(5,P256A
MX`5;\MD=9:E*,6BL7Z94%8)O1<P+664U%8*7-ZF,``ZP;9E0B[489.FS=5G-
M+Y5B!4S+R+1I1M(:BN*F-D>-?/H^RCS7AS7"]=:W?I'KI*S;:#]31@G_&T"F
M,C7H_T#_C^>*#CJC:PXJLX7F`?`@Q@RN`0$6Q,J".^CTIT4M@P\H``A0@`*I
M=U#25)/.!7(LP>/`<(0C`($`+,`U3>^8G5+\-\#F.(`;@VH$L,LTB7C_P1E<
M4`2;#NBL+LZ!`J:*[<(;GL-,0`(28M"$J7J`!12%#3'*(T<\.++!?L10N]O=
M`^UM4MZ>!%N]%>)C5V(-+'A:4I']33Z!C*\N?DK`&F+PL?2A'FMIF1F2GD03
M)<F(XKRUDL_^(*0[\>\K/5'*,:&6OFUN-B$.*"QMPW9RA>1(-7BB"4E:%,_X
MW1GF0Y8Y:0KS**)7BFU!3_^FDJ`"\_>-,)"9084@00DQ,/^``5"(G`48,!*&
M(T'4"!"`55`%,0`%J0`%.U``IV9%,R5?6P`$_G$$3Y0'%@`%3Q``6W`K?K<K
M:F0MI1`*J0,=#0)4X/$&=3=3T6)?BG,&<:0`Z7$[H$`A+S9MAU>#AP<B?&`/
M#;,A%,`$DO<`@Y$.T2"#OX,$:K5Y[?9X&/!YX`-^H.40I3=8UG<6()%;6&(6
M\9-8>')*/P,_45,7DL4C'T$F3:)[5O8!QZ1!3,$!P.<`9((C.@(1'R$45<9;
M%6%QI01R2-$50Q$64F(6<\$D?8$3;6$5:.@77H%.?9`Q+3=DH2<^>D8:P@4X
M[A<:+*1^F-@9/!``,8`!,U")H;+_`1S0&)&6=))@"4(0:T!`!`P`4@6P`SZ2
M$`D0`0A0!2,P`G=P!RS`=)L616!@`19@11D8!DRD``:8"M1P!4?0`!D@!/>E
M:NPE'_?A4Z$`!#.P*Y9P"6]0@B<H7_:U4HH3+:D(`4(P!$,P`PR6;DA@@^R(
M;0ZC@WP`!/B`7::(!6:T/'SD.TS`;D@88Q10`RS`A)WDA!S@?`N1`0^$D`OA
M`)SX3@MA!]84D=8D6QJ4`4E`)%H!4[5G30[!`3KGD-8G9$02`##52FK"`6SX
M,3"%)_MC!P,P!.]$)2'`2VR8)@$0BV(BD2%`9Q(9D6@2`D[&$`P9`S$`3PSA
MD3$P`(22_P`!D#1\Y80S(7Z*DD)&!XJ.<8F9F)6;00("U01#T'Y664+"51"E
M^`C$4`DU%6L5.`'G50`KL`-+B01W,`4)(0=-8`V/$U)Y<`3`V)='D`4@Y0.%
MD`(1,`&G=@1/,`"*`XV`YPS4F#IBD'^[TA[@T8U)I()))$>*(P1CD`IOD`)"
MD([Y.`#MV([\R`_P>`]\X(-F"0DKM548T$<YP`1'V(^;UP%Z$)!QU810V9N^
M^9O`&9S".9S$Z1"1J"CE-UQAV1A8R0,D@!GH1QEL<VAPPS;/"3?761ERDYUM
M@YWIIP$#P$6?N)R.$5%B,'_AX"K1$@8IX(I1-'4R($P*X0!N@?\D&#``,K`#
M;3D!8)`"1P`&5^">/J!U*1!U-C`&*0`$&:`;SR(*YP(,``8*+'"7!G@$#&"-
MLA!L)HALEWE?*G@K3A<KA7`$`X!2W_`.(E":&]8#2W":F_=N5$4/?.`!%94O
MV]8(604/(N"BMKE6%*`'>B```GECCUB<1GJD2)JD2GJDQ^D8E*B<Y#DQZ!=`
M'P`#=#-#URE,+?0_=>`'`V"E/+`&E?$!72J=(!$S<Z.=RA4#94H9=;`&:\&=
M>L,#)="),R`&41H8Y8%TK?D`T!$M+&`!8.">;@F`<S`"6C`$90!]QG<'(X``
M,K`"Y:6`E#JI.Y"`E\H$78`"1Q`&$?#_!+K"*[`9&_P2"E%`&V5%'!``!>,F
M':Y3=QSJH?:5@;0:*]&2H%P0`R<@"@B"HNS8`SS:H_F@,)B4#R+0!"S@#A@`
M`D&P`#DPH300K,+J,#4`I&,PI`91I$NZK=S:K=[*K4W:&/NDIV,9I2P$`S$$
M`P-0&25@I<$T:%#C*0.@`3%`KS=7!&/:IFPJG6N0G750!QK`I981`&GJ!QK`
M`UH@-R4@IYP24(PW!'@:I<D#`F9YBK(`*]*2!R$U=0+(`7=0%`00`[PT)PE`
M`"-0!9`JJ9.ZLE'4ECZ@`#%P`3`0!D#@E2:@#`^P'C9J.-#!+-&"!_AW!"\(
M+AS:H;-*J[6J_SA$(`0F(`0?L`=T<*(&PV%\(*W3&B*=5P\0:#U`P#`S>@\]
M``,=@#TR>K6;]Z-`N@38.E?:^JUN^[9P&[=@$ZZ),:YU6Z[+B94:$`$E<!EU
M\`%SHP1UL*Y[*P`!\`1L8R-C:J64H5"-VZ8!$#<(VZ;P^@%]^S]/,'M-`UT:
M\`01@`%@68EE&00@D)ZRD$21PP(;"X`#>`>K00!*F28#X*B0&JD%T)8LF[LQ
M``0H\`-;$)XW:PJ)%`TJ<`9J8`3(:P1LL+S,.VS^R;S)B[QJH($>BK1)JSA#
M($=-VQUDP$<+8+5F&V.R0@_O%@/;HP\L8#T=H`$=P`?OA@_ANU;5JO\'-1!O
MO"FW^)N_^JN_=`L8?`89-$>>>JMS>\.W;KJN+<0#2C``)1`!=<`#^/JX8VH9
M!DP90)<$E+NP,O2W5GHWB+8W,4"P>:,!6B">-2<&:)!T"Z`"[W6Z`!`&R\@$
M[QEJ2&"+4[!C#A$"M$=\$8"R*5L`:Y"[N2O#!;"[1O`#7<L"RUMI!-;$3KP*
M90>,5H0KE",=914MPD`&*5P!M1F_PAJM?'`!TL)N+'`!^F``+U"U]M#%7ORC
M-0`B]CN0^SO'=%S'2=J_^H2WD/%H86E<;..XSFFP/#>XF!*P"16F8UJPCNL'
M19"F=E,96D"Y;!/"@-MS'VP9H*$"0X`!,?#_!##`L)U!`G7*11';0V7I'"W0
M*#6U1.VYNC)0!1]0!1"7-`SADB"+!+6[`CX`!+@KQ%$4`PU`4OZ9"M+VQ,9\
MS-_Q!GQI!.,!@]$B#;ZR``?CQ?$+H_*X#RS`;NP[K*I)S?GPQOH0QT1JQTA*
MGP%4?1]DD!4#NQ&0%C&B$K.(6*W$`:LE6+YI!N\<$Q&@%'.RPP$@DDA2$C&C
M?(S("#@9$[(;`2I!GXAEG%+IOWH<&E4)BBSTMW2:*0O+B3P0PI2AKI5!R`1%
M4%"C`0&`0XGI*8!+KP-``L$4`&V*P2W4MQ%PL$3``T(P-QZ\R)3A4!L0`C.`
M`4T0`P#5*8/+1:%+_RI;C,I(]`-AT%&N7(M5P``E0`"TW!"PZUHYP(J%P``-
ML`:]7%Y7``9<$%1$8(!OL+S2JP9J@%\UU8!N[8T?*FM&8`%L4'9/S`9&<`:^
M,`3)N@!!H`/>;+9KG`^[B[YO=<:`K<;I2\TX&,YK.V_D+)RSB)+#E"()<-!@
M$\()8&;6Y``?@,^WQ0$NR1";S0%J4M#!&4Q3E@#T'+(<`%,:B6<]P1&G0I\[
MB4N8!B7GH]HR0A1$P90.O<?)22E/ZGZ7V,`Q,!E/0`(L':^4\4^5$;E^$``&
MO-%"D-Q^P-)N&D`Q1`+FN](?/3<\\`1^H`0!U*4",!G=C<"8G!B`\]-!+?_"
MF[*)=AHJ?.H<KK+*1J`![AEJ,H``FM,`PP($.V!\?#$%2)`6,2!XJ<`%I;:R
M_-G$?&D!+,"TSP(N,X69'FJT5$S%&Y6!BH.T<UW7!#8&$"@M(H#&@2VL\)@/
M63NL;&P`B9V#9>O%#7"I#2#.V1K91IH`!9U->?(_(A,S:!@"37FF5`T2&:-S
MZ$0T;F&49L8(PA3:.RP5-F-+P,1;`1<C1:`2`0`2SP02\$3D.`FR9N:0MP7;
MM5;5,U$58>$`<X9+"JT0H,.("/?/OCTG]?08?`PJQ4UT6*E^=5`"!=LV)4"Y
MT#5T_TL0FMP$3<#`H)P9%XT!$"L:*8S?B)-$Q`C_!N,%4J%6BR,0`$)0:0T`
MT`YQ!VX0U$4Q`$1`'"FPGV#P1EP`F.Z9!4`0.3<@4QVN1-9KO2JXZW'=Z]=+
M.<>KO&^4`F-``3I@`"N.A!10V"'2S97T`AJ`@SVPM>';`T0`6Q.VFW+,X\/I
MXPJ!:1]02@/`ADH13%8P3!PWV6T2`I5-DN,.-351$P_1E%##E!"'%4[&ST_1
MY2Q#`"&@T`BAYQY#GQSID6KV/W/"-1Y#E&9`>VR.$(8R9>/N9$/P6$"2`0Q=
MDH(5KG].W';;9X&>?H,N77VK:$.W!XL.&%0`WS&0L)H"GD;M&/=ML=*A1.PI
M7E'TJ/]=!1_[!$]@UNC,_Q!E<(L(@`0>-``WCAP1GBU<<`7RD+MY,`0T&P%&
M(#E:'XQ]J?7"#N*W\O5?3\7(YB!/<`9,_!U<@`(ZT-C-CK6[ZZ*/Q\;[\`+,
MK@_V`+_3J@"P=5?>/L[@'NX%7>YQL5?R'I$#$/'A=$RL,4Q:\92S_1`9<(C!
MY!?T7/DSL1=VH";_\^\D(2-VL,]4]C\)T"3GWN8P0MU<4]#G_@'K_C15,9\<
M(`>X[6090P!W3BBG$L(`W:0A'RHMWV<SX.C$7_S&?_S(G_Q<I/Q`K?S.__R/
M$<"0H0+K$<)U$.F680<"8,(%D=32(B`U]<),5%ZA9HLC\`4)T09"H``#``0*
M4/][#>&HCPJI.:`23#_6X!'UD^H#+``(/@4K!86&3`T[%S`I1XZ/CA:2DV%;
MEI>8F9J6`)TN+B8F4:,M.`\+J$A0$*RM$#44?+*SM+6VM[8T+#2XLCTL'KU\
M'1H=LQX"P,*X"GW.SWT?"7U%>];6&!]_V]S=WM_@X>+CY.7F"3';#D5_:PY_
M'`D!&7\!`2$#&0D$^44)?P,"!/P3(@2W"`0`9HC`X4\$>G\RW!M@)]TV?.JD
M1?A#X,:?(N\V<HA@Q6((!QO_Q!A@$"6W`0GMV8L80%V$!!NU;?O@P(&V?!=C
M='Q'P)TWBSQ5FMG&(42&$/*\1:AVK>J)JEBS:M5Z8L/_UJ]@PXH5VW6LV;-H
MJTJ0D%;%#`Q-!I3@X:>NW;M^>)2(T60(B`H5%J#!0_@3@#`6LAA:L4(&@BIW
M['3[0.>/&8;D1HRH@@"!#!DY:@Y(T8K+!$.H!_D8PF1%#L:$"OA@L<.'C2X3
M<N>^DJ51I$D6*F42LFE3)P`F0(F*<J`4&E2`*XBH0=H5!"ZQEFF_I8O7LF0]
MA'4P8.Q7CV0"MM/:`:T/D6C3J%[+9JZ^_?OX[R>X4:3(!SD1?1#!!P3,4T\`
M5@S`@8#2+!@!0BP19-`V&0B(D$\1#,"-4&8(..$V`?A7!`<$?!##5`F`Y!`\
M&SWX04T!?/#!20PV1*&%#A#P_R!"(+[SP4#;)-%?32C)R&,&(GZX(5,":KC-
M1CK&\$\W4V6UP55IC;56EEQVB=667H:9I018=OE6$S$$H`%>>)%0QP`?%/$`
M87BXL$48*9Q62&.=C7`'`0[L\T<"[]3WA6:<=;8$!%#$X$``#>CI@R"H,?89
M$BQ$`(5GG\7&0A&%=)'::1-D\0APPET"!1#%9>("`)^$LEQSID`'F`A\_"(`
M%]9Q40,M-+#7AP+!J#<+>`VLX5X#O>@2GC`:T*!`!+N<QT)ZVC7PGC-$,.L!
M?-1@15]^Y)9K;KD$3"F.NH"2T^XV[VXS9:#?Q)MN.0XLM8T9":E3;Z'R]CLH
MO#9RP_]O-SUY(^@X]DZ9@&12R7=-66BIT,3%&&><,5\:=^SQQR"'+'+''(MI
MLEE7GJS"$!C$\$0=)+!IEQT!1"`$'H<=H><@CE7A9[_I)LQ1.01HMAD"-;C"
M101Q!$`I$RQ0:NEG"$00`Q`0K(1$IROX@($@*QB06@&G77$J)98`@34#`+3*
MB2?*S5K**0M$AX0OUU+`Q1M*_]I#>T08*PMXS4#CW2W)".,!$3'VL<8N?'C`
M0@P7X-)#`S<X<\,.AW\K3;A5C7ONZ*27;OKIJ*>NNGU56L6E"NJN+KLY`9QL
M>U@IW[Z'&&?&4((2,N>UEP)@.X:`9@++B\</($(DSAU&H^#_2@T(,+9#08)`
M#79C/8_0Q"JL,.`&9Y_)X$,$/A#216RH36#V;Y)L`41U*7"A=MIJW[\%K)VH
M`,H,HCC`#!Y`M[I5(`<-2"`-8L""\.A-:86#1K&VPP(@Y"IST-B!,`1@05P(
M:P`1<,^U9'$!!A[N<MM:EBT\%Q]QZ61V,(RA#&=(0QFVSAH4:TOL\I.!AB3`
M"O]H"@>L$((D9"!Y3)D0!P(PI27ND%P!*)/NIFB-*WF%BGO``!Q,%``8Q*Q-
M=8A!#G)PO#O4BU!X2(-*ZI"9$1B`;ZQX@PW*QQ@?V&-23!@$]QYSAS*D`0-'
M8!0+`G`T3@F@`>D+V\[(1K:SQ4]^_PR``!&`P`(BR$\(1&`!"X3`JN-LT@0?
MP,,'Q(`!(6#@`<\Q8`7:(P0AW.`&:]`"'%D106X1X99$V($N=\G+3>Y``<*"
MQ@T40,QB&E,!:#IF,3'8AP'$8%B32V`#A'"M!BA`6<[@'"Y8"+KYK&$`X`RG
M.,=)SG*:\YSH3*<ZU\G.=KKSG?",ISSG*<_^7$,"5\P2[,X%0I4T\P]-ZL.)
MUO!">!&4(-^\P:-N\$PE07$/.<2B[B)Z.P.BX@$LRU`=Z((7&#QA)06[5QRL
M((0!,"`&!0D!$O]P*.FQ@@M=Z`P=8<.$$"22:CZ;`C?JP``K0"$$;6!!%:J`
M!"8P(06-8O]"^FQ@@_85``SP"PX>6,``('!RDU8%@"7#H,G]`0`/IG2!"DR`
M@1E\X"VULA4P=4F$-5`3@Q$(`/@@D`)FMN>NSGA<$?#*5[S>H`E[[:LS,N2,
M5D*C")N\0;>6P4V)[6$(KXRL9"=+V<I:]K*8S:QF-\O9SGKVLZ`-K6A'2]H;
M?,`:8'K=$^\3@C4`U#\`%8A'`-*'Y,7`M`[1T`=*HELGF:MV5I0H%2EJLK\$
M1C`X.$`4[,0`7<9`"VNZBUY6$@(2;6,`#2#-$5*@`(=N8P2SU$.B9,HUQOS(
M!\;S6?).0I":I&&058AD*X"0O@)TH:F&<)\CM[!)%O!7`9QLY1;_B"`$M_*W
M$S<30G)<\`&RJ@`#&,`!*@QXN%ETQP,>T$$=DO92#]#`PR"F00,\,.(2-Z":
MTDRQBE>\8A8H@,76+*86`D#,&&#@F`R<8"\:*]P>^_C'0`YR6%10`31HZ01=
MP9(4O[(!MGAIG^8B0!\X<`,.]&$:"1A`'P9T`]_6HPAPBBU`P<F3-5CDMQ/+
MIY"[E%J3$1DP%VU!%$P```L03P$,8(`"VAH#`<#,+B0H@3,#((<$R#<"`.N&
M'^#X!@,@JC/D[=1G<C`$)/!QI=P(0$((D`06!$$`K&""#%A3B`F(BI%0/0)P
M^,O52[(@#`0>L"4LV5\9K8$P"C;!$$P@_P8AI/56MY"<=XCQ0%;\ZCO*$%PO
MP*.=\1A#%SJ^P.2>M4UP28QW,\BVMK?-[6Y[^]O@#K>XQTWN<I-;!5\QM[K7
MS>YV=QL-%2AKN;&@;7IG&]U:R=V35WL?`;'#1*X=0)?-O!,PK\$*4_%)33*4
M(OZ<N5RU2_.:PW0")YL,WG!>``[D[((P0*$`.P@D+5EP@@3@8R5SL8L&/HKG
M(S0@'(PVVJ,A7;[R(0`)'T""&<>!$VZ<@*HB:``-9+""&.2Q`+<I=:I1I4D@
MA"$,?4`,)V5]R?VQX*M"`,`-("S*4JJ@%+;"U2UT)8L7:*#8$,@.+IBM;&'T
M>3O$,$8R*D<+]/_LV-I544&7Z<GWOON=GC?$BACV_O?"&_[PX0S\-?2][]&%
M4$./!XAK]Z.AIX3`UC<(0`S2483JUN1'HXOX/2T^\2PQODM$7@"$42%G.EM`
M3PH8>1+P(#`[.`"$FU=377A0,Y0F#XXHD+G,(4W\SOBL"@(J1P:<5(8`Q`4!
M.2#Z"IC0A#T9(#>.!([V'ZF)3N#L.)[(<P`E;$`F].(7ARL&KUBA=EI0X&IM
MUPX%(+>=8D0NV;.P%K9JP>-KJ(`=-12`,Q0"CG4-@R>`""@[!,@5*L-O]J%E
M!A$`?6`0`K<-S[1#849E<4(`(4`--P`Q:/8EI%=Z:$$F8:("=0-AV?#_``+4
M<0P@&S[0`$#0``PP`&V`!S9B<BHA`(1",U8S`!OE)KF7`&_`-V_@!01P*,*W
M&>,U5$8S!5%2#A%@$%.@&0,P!)U2"$P0`Z7F!DNW?<&A?:G2?83A26I#5T\`
M!$-`?H!A?N='?W&W?EQ@"[_00?&W#,X"=^3!!]!&AR94"S2`=_X'@`E8B*BS
M@%IQ@(:XB*-S>5G!`;8#95%&`/V2(QPA,);8#90(+W8`-"!X+J)7%:='@BBS
M9&=A7!7``FB`!D70`O\'!!90&Y,"!T1P<Q'P4:ZU(&L`!*NR!@\",`ZP?)M7
M`AJP<@H`!`7#$5\`/4LH<SJ5:2FQ+C<0`H^&_RF,80BSD0<%<`4:P`:J!H9J
M@RIN<V!6IP"D`04I@`<1!AUP\$LZQ@<-$![6M`O6Y`$&\`+K=VR#0W]WJ!UY
MN!T&H`/W]XZRL`0Y-@MN((C6\'_UHGD.%8S?L`\J%0X<D(/.$Q$.R!&)1@X.
M\(D#6(#6H(C?X)&,6)+?@(@2UX`FJ3JA*(JF2(IB,8IA(088!Q@0MDEO@0>P
M."GI(P.UZ(0X=P=SH`5KP"LR>!/A\`1#\%%]5@*:QQ("4P9**'Q?L%(A(!3;
M0)+U\`&:(5.80BF%,!L-<`1L``-&`(864%5H,X[\=6":!`$,@`%14`08L`!%
M4`%P@`2+0PL><`.70_\L1(`!.^`!&G2/K7`L^->/VB$`,=!^PA"0?,@"=&<+
MZ-$#&G`!"KD'#'D4[Q`"FN8`)))EA4(4-W$3$),`ZF(%`4`B[4(HCU)=ZG":
M_Q`A\M(3@!)$3=04@Y*1APB2NS-;WQ`!6KF2)8F2$*5F8B*)Q%DZ+>F2R`F3
M9/&<6X&*&?<`.$!*Q$%,LJ%+:^`82(`$$3`"'\",1:`V*4`$%\D-!#`%=S``
M3Q!')N=,)V(U5K"1"-,&;<`/W&")!``$)$D`)T)>C&%T^34!%20)=7"6B,%5
M5;5=0,``_L665N=?%:1)1<`[1;``<("7.;"7OJ!+S[(XTW0!&L0'!N!2%%#_
MAXJI;$"P?]KQ`@9``9)#D+X@`'CP89G)D`1@([?W$@M1,UF&:!R@(0FP6QDR
MA5<)))=7,\LG$#^8(0H25_FP$C7C)`L!)Y>'<`AW>S7C%."4G@KHFR+I#0Q0
M$\NYG"B)3[H#90\C+[3)#<O7$!)A#Q$($Q@)#E;`#4#4#4.*4B<)+][%7N'0
MG%A!7-`)%H9:%309'<>%7,K52F$@!#L`@RNP`]%G:3+29?:P!@S05D00C=L0
M!\SX!!44/L`H$3'P`02UFM_P!&?P!";ED1G`!6SD#7=0!3%@:=)7"`1*-HUP
M=9+P`T9@"<$A7Q!P!*R2">"G"9K$`DUP=2ZP=2V0_Z%PL``W``=KX`&7(RV$
M&1X]0`081@2J.@LOP`IC,$(K*CCH9RPP&IDT:J):<"TYR@X2^`\]>EW+!Q!9
MUJ>%@FA""B?@E!+W\`=#,*0;<1D&8B)':@<_(@\3PB-36!,<<"(,^P=V$`)0
M"JJS8YR*"IS=D`%0\')G2IR(V&8JV5H&4:0%DJ<@`A,,`9HC043WH&D:RPTO
M]`'.@[$YHGD(8Z8FHHE:YH"$6J@C>*B(6K37\`",VJC6>0"A@`&PF`BRH4?=
M"6ESD`,!P0(W$)Y5,(7<4`;"QP)D<`&LD`)@R@TT$P/]D0\)T02DBC4ED`$]
M-`!0L`HIH&=F"CU$)4;7>/\(+)`'C2`)7;4%1O`#=X(86'.>_$4<FO0XV7`<
M=T)-6U`$F`0`IK0&:]`"#Y"A&EH!'J``D?.YUT0L.Q`>'D8#14!MYOJNZ:HX
MB;D,<3>CMG"/N?),GR,Q.NH\6#FD$E$/6:82T>BOH`E"[P`1(9"G,;!\"&$'
M0P`4&4(//90`/SHA,="),Z)2!+*:(H&Q%/*16S&F+P&7:@0.O=L\#^A=Y(`1
M?UHZJ%DB]K&`349%^Q17=<H1P=L0!2$O&^&9GCFP%/(@DA&\SO,!((B4%P$C
M`3`$W>"9TM!>+Q(C$:@ETFFT6F&RNU.33/L`+:!<R7$G.E,IW.,8&=`90U`%
M"?S_A!!1-,*'!TU@K`(`3F8:#@Z`#P_2!`H@<G0E`.D":N$3`"RPGEUY<UI0
M7ZB1#)+P=%N@DY9@!&UP)VEYC,312I8+`!_0"9H$*_+S`16Z27A@`BJP!AA0
M"FN`"AM*F!6F`#VP9R"J2PK00++`"GI@#*VK;+K@F.)!'MU!"SH@D+(0B+>;
M=X3(#>@05_!@$">1IP9R$0&1+D"T>38BM_5PL>C@3"$@&3!!R6;@R$,*+P'Q
M`1Q`#S!<D2#E`"=BGZO#L08X6SC!`'5;'74+!=VUP+[EO^:0B?:1P-]@!A[+
M3_3`FPM<!&22J(TG(0#QL#;[#DNT$Y+!#XX"$Y*ALCH"_U`VF\(>^Z:(9@<#
MD,G!.9L&403TL!%#FQ463,$5+$5*&QT31D#)-6?)<1@6D`)C,S5S`&D#H$ED
M8#1W@!!5B"CC%00ZX`H,@+[B0(D@RRC)R,HI\`0WN,_D(P,#(`!@.0%090&#
MNS]3=0EM$`9JTS991TTL\`$NX%:4^RH(UE4`\-&@@`&B,#>V<C?&D@RZ`,?V
M-\>"PW;JH0$O(&W>L<=\.:_X@<V\#"3U@2!7B:9B"IP`6AVN``3IZ9DO45UP
M,@]Q<LUP4@2B41!$TB(#4`1I4@0\`B+ID"'^42#_!"<$G%M%P+`"DA!F+1EV
M,!4*XA\5,B@#@A"#3'#<<'E*-O_!J#<E^0LDP5N\-5&QW6`%5\H2!!4!:R`'
M`@PO-R`P0/$D)>(4!FRS_\"J#9P.X2S.2$O.>X`'BX<E-9G.UBEG[&PGB'$$
M5Q#/C3%>?3("]F`T0#``1E-\G=$%K0`%0C"<X^`&4"``4`""'"``=L"83\`!
M,T=T.Z`!$:!T*1`<2?Q]KT(8\A,#/Y`JS>H"=,E@)@!6+I`-0B`C18!U+``*
M'S`*M$(W@*%LZ&%L%##3-*T>-@V0'=`=X\%_/GT?0F,N":`O^N'+`HC*(;G+
M'&"L*8"5WJ"^]>`4CPT0UQ4`%=L1`$I$1/IO!N&U7@O6`&40JJG+]9`.#K`&
M)2(:].#_>2"^!F:P!I>-S1F0XNV`OPQQ`TM!('E]6J-W.U"6OT7]NQ88@:`<
MPW^`$N[KR3J1IPT,4,%(@2SK$X7LF00@LS@K%;/9$)E=#V@AD^2,!S.`!^AV
M)1A'VNM\VIV`&.^\2'NR`N1#?%7P!$_0!`K+7;FJJS77&7`$!1&`!T=D'W>`
M!`%@!N4;$?VB4LE]C4Q``DPP`<\M'/Q3W@M&&+RX!88+*WAP`Z%PH:#TM'5B
M&%.%!V",`4.@CJ,0!6*@N;92T]<R!NPG"[0;W^JA"P(@`-2V#`'Y"R6P0OD-
M#O$R.KEN.KM.+J9<'P+^F]]@K$<`Y'D=PRPQUX,"0M^TR7\@_^-I@A$I`E`-
MH2`J$<,\Z\GM%>(.82$?J.T9L+4TZ^T$V`WSX``*-5MV,"(Z$0'^S;'CK%H7
M81`E`B<-(1(_DA0/T0W6/B-:#4Y?EJH:\LDD(B!J"[T"H2ZD;+$W>]E4_@^:
MG198;K13I0(LD&UH,``3]@&J-P,<W.B'&P9'``:3DAHK8`.<HN8!\01"8*Q0
ML`-T-.?R=0%%T&G)*`X,/0+^`@[,**!AJ04PH`#Q`RO*(08LT,6XAHZ:%`!J
M$`ICQ6M.+RLS``I4_PET0AA4$`I&?P"U`ABQOD$-1`&'.0LXS>KRW:S&$I`E
MP(^RT'\+&<@*\XFT;!]#VJ:IX^S\9/\NP0Z^&5`_,1!)#X>V][L0'-'``>'L
M*!ZQ$OMOU7[O'Y+M^-OG'I$F%%(B#=&)EY%[%)(`K@4/O"OA#;X@"_(D`(/*
M$U\QJX5IF+;S]P(OR2,P!-!#ZIEI3!1ZIO>21JL"7,X"&PH'14`&'["Y!R!`
M76P8U,151,``1_`!,(@:53!'5`-I0\4"0Q``02!?T0<;VD\U<.0'9B`'>)"?
MN#X%4VDT`UW;G,(^!:``&@`#T!HW<Q8%A"$&6#-?+D`'8R7J)G!OHP`()H(F
M*H)X,RXF+H5X>()`*5$'#PL5%1Y\F9J;F3TL`ID0HD`TFSHZG*FJJZRJ-#$7
M,9BMFAT:'9[_H)H>?1\)?45[PGLJ17_'R,@9(0,#$1P?`PD1$<LQ`0,Q`W_9
M`7\!VL[+&=1VV!$AY!$)QR'4'`'HX-O'V0-V'Q$QW-HA(7;[FHD[%I!#N@\Q
M]L7;%N-#AACHDB4+$6R813$W)`Z`$L-!!B`,[$@\%BU#@`]_,J`D\,%.AC4#
M.-"[82:&%7(RU_SYP(%;3YO(P.WL&2(`@1L95!K\P+(GMFD!E(9@&N'>NJ<9
MJR:X!NU8!`?(*%H<MN'$V+-HSZI@-[*MV[=PCP4(('(D-K!QXP9(RU=8V0U]
M`PL>G)8%"PQP%L`I\B#"A@^",.`!L&4+"R`*+!`!F6*'#R(%0A=8_]%EA8S3
M"%*KKH+`60H%4)B(%KVB]NDEHMYX^8.'!1T"R`A\N3.BN''C=]J6,9[Z](K9
M>8X,\!/`D8DHV"5A5\'"!)!1'PY@Q')`"`8,,\YC%Z1BC8DA&(3,F&%^B`D,
M0)Y`@9#_0Z4<M/#AP2>9<"$*%Q<0J(D!!@3HX(.=&`8$A`9TD,F`I5S8RR\5
M"5/,6T5])5,`[EA1HC<?A)"`%3&XD\$V";Q8U$I5<>!`!-AP`-P?=LC4#`?D
MA-#1'RRI*-,?U7A#5U7/!#"$'0#5PP&3!&SS%3HMHC0`B4RU)19:&"5#0!$]
M'>/%`"&X550(P#E09@)1.6`'`75E0``'[/_`$V-*P,WY!Y[()-"3G7\XD&<&
MA9)X#*$$F%2F`XHN&@`[#JB(:$H!]-3H,3J&U>%891'&UUIYE6KJJ:B^M9>H
M8YT`&*NPQKK'`Y8D]D%Z0DCP`0M""!$&"PH``80%D$!!!!03$.'#L@7X,$%I
MIJ&FFFH##$&$$"L0L<9L.]"&6@VY>=&&`WADD`!QQZ5[7'+)H#M"<S(\)]H5
M1X0!1`!^#*"")"WTBP,._;:`1PS``B'?`Q@T@<5Y,_3[07;W0189'D((4K$+
M0NP'P1M`5%)!AJS0P$(I%!@H2B=`R%*+!A1`Z#(K%/0`X2V;Y-+!"W9L"(Q%
M'ZH9CYM;NIB4/W__P(GC`.-X$R.))WD5TXT>X>@5B<W$.,0R.\+)DY5%_?%/
M!$-H854""0QQC!UHZL,-D@[$D,$<T_QQ#=9>?GI11H'BE4R9J?;M]]^`2_0E
M6G_)ZF$X`B6N^.*,-^[XXY`;U18V`D5@N#`G2'!Y8"HP+,9@8J!1P0(+/'!K
M>1@`\($181!A`10,-+###40TP)\""FSK@V<[0!OMM-,B(?P0/C#`;&A0^$";
M:0B8K-L4(;#P]@A55&]]%>J.<,<74[C+&@+.S79%"F$`X`(&2O@Q1`O_/N#^
M^P_@\,$A'V#P@1`/%($>!D5\4$0+!SA`%#`@AH=%007RD1@&#(&!4="J_P),
MH(4`6'`!/I1,%!!HF28F*``:T*`'+]#`RT9(PDP8X`6IN``>DE`TG7VJ9U[Z
MF4S<,:5KF.@/0\@&`:H2`P*$`Q]KHL:+;(0.(3I-'])`DC..L4-G'"D"38Q`
M2@9@!I3$@&S[($F5$&4E,S#I1D5#HIKL-HPP!>Z,:$SCWP:7%E=M[HVLRAP<
MQ8`!*[1E`#.`HS`DH#D]CF4(?0BD(/N'@2&H0!@SN$$?9E`)T@$,,A@+@P44
M@`(8Y*%;!2!8#(B0`@AT9ED[Z%8#@#"::,D`>/!BP@=P!X$&Y&X'"FCELI1G
M2CU@\`6M&0+V4+F:[!GG>^&;EP6VD`@3'&`Z//_X`!I(Q\S1,7,!YUE`$?0G
MS0?$('[H:<$09E`$(=Q@"'C`3OVH$(6*88=@#V"`)430BA[$8$)\`!<&-5@S
MP[PS$S0KH3YI<<)4=,`.7DC"$W+FBYT-`X:E`@X!S"`1O3F4B<'9D9@D^@>&
M-O2B(]$;X#0*T3&FQ8QJ#*E(1^HIP;C1CRA%RTG?.(,A2<1)?N1C2H4AAO3X
M3Y`X[<,:%'D#2Y0.!U%0!``DF8(K3*``-NA":)C`5!9$@`&B4%X!0MF`%*0`
M"`U8@[2F=1H9A,8'MA-%[(Z`02XT(#2V.8T\(;`$&2!A"`CX'B^QESU@QDM\
M%@A#,0_0`@R4P`\:*`+_Z2Q!V,)"DW_Z$P(<ECD`'.0O8`$,SWD*B<!"8N<`
M&&"!Z.#`3E9X`IXF$P4].3&R!&7"%A;:IVHY\8(&<:(#G2+`$Y[@0IX9@Z2X
MS>T9V7@WW?KVMZ7B;1M?-=/B2L`L>FR"-R1BAPA\#HZA*NY8:GJ>(BBR#SUU
MY`%,,%0+@"$/LQ&-&YH5`R:P8`?&PYUH?/`="#`@!Z=$I7/D58`\[.>J1QA#
M)U,@U=G49@43P"`$>L"$)L2UJUM-3;I4,U^\$M.8+:"$--.G`3@0-@=(R$$.
M1D?8PWJX=&28P;\`!MD`FCB`_I(P"R+8"I&58JT0X$(K)CBR36@`A:M=;6O]
M_VD'O<DA`+4]Z&V!2^0B3X2,-,6;D9?L6^&VL8_23:E,]3B#(92AH4UX[ANC
M&V4P8<"9.!"#"[8PABN$%ZVUL<$(5L#4STAU6Z$1@1!$H8#XRO>NH9E``QB0
ML<Q8@`&0Z.^9"S"!T'(A#$Q`P)I-:>>XRA5\\:)O?8>9B`,XMIG3R5<.F#`+
M&@3R!AY``F$+B89H@MA](PZ8JE-,"4L@88(M'ED-0@N!&@2H!S+C1#]SK$];
MI.(%NTE`FZ`49`\-^2WT\%I-HD*2._(MHU+\[3Y0HELG[P&D3,[V2*U-."AW
M68]<AB,&EIL,F$)WI=^FJ24>H$TA9.&H_F5T5]V`@/__VIO-*U;`#G+0`"3$
MM3@,KLUL4K"9,(2A"(`V3!,4,`%X#YK0M#:J[[K*R_E*>@*4CD*$!TM8./S5
M#P*8!2\$60HF%':RFB4=&52`ZA&[W'W-S$&N)YCK35"`8#"NM6H9Q&L2=L"U
MM>#!1,'"@6(3X]AVN<M<,M`V9B,)&P2H4@`@Q0&TI4E&Q[C1`.PXHDKQ"$A(
M"TL`3#0``CA@2XVR`@=F>#8R14-IS<!4V8,R``=4*B9>P[M'P=2'".3C[WX/
M/.`'+_C"$_[PAD\\XA>O^,8S_O&&1S)?CIMN/X:;I4U@2U@P`&[D7JZ`G`^,
M&!HIL&`M[W>K8?`((FWO&#S_H0H:/B42(G"<@,\&#/6R0%[S^BL@\.H(6=A!
MPT,92M"()@M<:&\*&F"`%>S`E`RV>'@G0#X7:%S"%Q:!!R+``S^0(`*X7@-.
M&\`'$12V`I/%P#(7$`00P`]^S_Q/S?D@@!B,M@=`"(.`8SS:531@%JQP"CWG
M,JBU"1U``B-A=G]B=`CU4FP2`\W%#<MV*1]0*3^C=>1``"%@!;Y`*`Y@1>;`
M#>ZP0R_B$UKT#/[`%-.`)A$H.3NQ$QIH!W:4%'4'*7(A;$VR$S*()!1U9'PA
M!E3P.4)X;40XA$98A$AXA$J8A$RXA$I(!700A-=&!530A%;HA%`HA4*X3#.@
M9:)R_WF59SB%XT<Y1%$.D&5ZA&Z@HU-%($A#X(5G40D/(`3!`@7+UP`?$%_6
M,P#<,QS4PQIS`&E#,`0L\`20]F_:$P=?4!RL@6>AD05'H'MA4!F5\2M;``1%
M8`$LX#K"L@,68%4*D`)98%2PY%[!TDH*X`/R%FGAU2T3,`9Z%04X,%B;!C)\
MX$Y^X'VYHU/7M0.9(&J&=1Z'03H@$`2D(V'Q9PDREPJP9D$U\`;[QP7]YPKB
M1P0!$D(#^"`5L@E*\!:&0E`<8EO(YA1',G5SXQ531&W]$`UH,B5?42A2%!,)
M@0XA0@X_TFQ7M('4%@T),!55@XXH$0+PD!#,4`\&.11I4O]$S<!1)16&#FD1
MX78":F@X$D!<%D$Z8NAY?)$P3="1'OF1(!F2(CF2)%F2)@F2><0SF9<,9YB2
M;S21?3$#.25(-T!(V_1<Z]<")I`QHI`"$>!HVO,%+"%1RT$]"#`'K#$$2,`"
M`9`:U3,"4R!1``<^SZ$\],)[E$B)`,`"%&,POD<$84"'O))_GP@2"G`%8&!6
M=)8"7'`%T2)ILY$\8!"+.+!,%8`$`+@)#:`!N:@!.B4S/>!!F6!^YP=-AA%-
MQ1A_'%<!.3"-F2``4$!K!^*8J=``@;0&Y!<@/Y>-M)!/?'"`>5%T!?5"2)<,
M,@*!VT!%Y_B")K$EE#,ES``0Y"#_$F`T`'/`$RG2%-.0@>B8CT)2%%5S(QR0
M14@2@0*Y-5WS#9+R$`:Q$S5Q)'OWD-*Y`=ZV!QII.'($)J0#AX0QAFD1`[D8
MGN(YGN19GN9YGNB9GN3)`Z%W$4/P!!1E!>VY.5-&&"K`33@E?C/9!XV$`]SE
M`1]`9]5S!W%P97_"`&D2',1A/2/``@/``D_Y!0;:+N^"9SO0`)$X3)4!`!S:
MH1W**P!@'AC3&Q^PE4*PB0KP`0Q@`6.0&4=0564%!F:69WFP++8S!L(B8O]A
MBYS0`PK0?7Y0`@K@"N?G4PM@&,.8F,U$6$PP?\[(!9(98S5`F9Q``^)W`PK@
MI*U0@)R9_PJ[Q@=.L!NAR8"EN3<J8@;L,"=X@A<](2<:B"C"5BEMJG9,U!,]
M9A!DPR/'`">:AR@Z8BAORB-M0A>!`B2%8BA60#9U41<IP28*:*=3!R*2)YW?
MM@'4R4?U29'5.5T8B9T6.1;@J9[D20)UT'T:4`<D`%@\<*IU4*KEZ:I^``-\
M&9ZG*JKCR9YIH0(1P*@IT01ZE*F#(9/8E9(U!1_^8V$+@`,'X`(64`"8H0`,
M,``&"@U8Q1]X2&[N,@=S$`!DT*!E\FQ_\`55X(@@D5=::3XND*Z#8`+SLY/V
M(3%<J0@N,!E",%1AH`!A$`%$`%7[%V-<<`17U4FYP0*SR)@!XO\!H4H=>=D)
M1>I3AYER:$`&'D-82*`)%#!K4>I)4PHA"G"9"^L@/Y=:79H).H!C?-"-IO(+
MHRF.VM:RVS:IE-IE?V&I90&3@@&L:*$"I'-(LI*=9Y&PMIJ+)-`'=>`'']`'
M,$`"-U`'_O,!'W`#'Q>>=7`#6N`'#5$$F48"3ANTX8FK?#$#=1<HAG1NL.*T
M/'L6M%(ZVQ4&-;H#<24$$8`';2!0+!`#9,4?SQ8'Q[%V=V`&=H`'<Q)MR-"(
MSH<[7`!H)\JAZ5I,ZQH%,X`=GW,`^R)`C[L>A)"N`)!_#!"*&"2P^P>PHG`$
M0]!J(J"EE;D&LTH"*L,)P%BD1YI9'H/_!L9(6"*`L=#8KUQ@`4M``2GS(%F%
M70U@NB#[I9QI`*@`IF*:LF3JLLRK1MP6LS+;1W)TG8,!AGQ1"6<+*S`)M%S[
M`0'``S>P!B6@`3>@M0*0BP@AGCRP4TG``T1;`FN0BS'0"UR;BU[[@TW`JWA$
MMGJ4MNS&76,P&J=4!4_``878!G,B!_=%;LA@'!P`E<+&(W@0`@WP`\@0!^#S
M5;$D"E#``NC:N-EA8JLVP@$$,?)JK_P*!'6P!4;`!K?;KQ!P!%"P!#6PL2$3
M2!^0JKJ8"A[0L)8P63Z5`P.``DO@N3#,!36P!`I"?_#$"A[0L7U`!!\[0C!@
ML@/X`JA``2B+_RHJ&XY"=BHV:"IIDFQM426+<BF<PJMP$<9_PW0$0231%A7:
M4`TC\;S0&V4TNP<5&2O6^X.T\@":^K/U&YX040+1<`T?8+3Y$`%K4+3A614?
MH`5U0+1^R0,!0`0-,<CW^X-@*U$A,`3\^WEX(#H+T`)1P*QH)0-5,`5X\`1X
MH#<!``1:D#(2H;<C\,!?0"0Q\E1`\`8,<`'5,*[RD@<LL!]O4*_J*@B7Q5?L
MTS[O@P;N`\TM1V("%%2*<`;"(BQJ<`(:UP)B,%OZ!</[]P906LXUK&]9FFE^
M8`=#F@D4\,X:E@/4D!`"P`!C<,]&+,Y(#`8;ZV(UT[NJT`,-<%U]D/^9JR6`
M5VP`%`!L?M/%!F5L;T$`,=(H#B#1=D<H>R+1<Y(!3E$T@@(H59?&T69W9/,3
M:=(CA2(H8+'23)<`R28H11-U><(.%%TT=L`.=,PV.$$`2U<HU.:#=TRIU*G'
M?"21G\H7U#L8HH,&@6P1W!NT4QL!`E`':R#5BORT1<NTWDL$R10`DUP'E=S(
M`Y#(];O)?2$&.?TG:+@YW@DK8G"8I1-489`%H7%*R4$G$N$08411Q($NR>`2
M[04!;B/,>98"+,!GF\NXE\5JR*B8BMER_5+"5#`$5,`"'X`#,V`%#[!^SR0"
M8\`%+RS.XLP`0.H'=1#8HIW:N4'.-EQ//)K_"0.@"YO@`4204P:]6CS':YOI
M!(#CT*0)(FGS(EO1#+^)-$C3)(Z"(C&2(F@R%UL7#\=@(LQ](E2##>10G$CC
M"_1@!5&QJ_H@(]T]1-,=$5XC)"Z=%%:P)4/`P.T`LT&-QQ6YQT-M4I>CLPO`
MG8-!></PU+:JM$M+`CM5M%7A!Q%0!*LZ%S%P`PH.M41+U>2KX'WP!&4]GX(!
MMFQQ=BEYGYXJ*]QQ'@^P70``!6@55Q/*D@VP7%&'#(MX!QD`E6+BTOOE!N.:
M9V!`+$3@P113"(OM6)NMF!Q6F([]?L\,L4$@.JY&`Y@0F!9TL?Q<SJ$-PPJ@
MPT&J,:K]!BDP!@Q0_W^U^\Y\@-`]6F,!#="WJ``\-7X)G6.V\`((V-O+ZS-K
M,RDYU!,(P4,F\2<0T352U#58ZPQ2M$/M`-U%$17LB".(L@YE!PY%X-)>H0TH
M@0TO2!+.`-U;,007#A%*9`=KTD._V9#O+=3(Y2I[C-1'S2HJ,#KX+1A<QM^V
M>K3I<[1\^0'GN[X10)X?\%=^1P3J/-::3.&"(09-@,;5L@<8@%WUD[TSD+TJ
M->J!46HLL#[<U:P"7`7L$BA2'0-790\J7APM7APC$0,,X.U,X%4%,#Z3F+C)
M#&$\GHP^[,.-U.Y+"DVD'`0Y4+HUXXNM\,[ZU@`8"Z50H,Y6&YE0ZDJ8X?]*
M*>H_TS1-JX0[N,,$$<`$"J_P$4"'#S_Q?J?P3QN^*;K@"S_Q'-_Q')]KV*A:
M&A"F9^3;+!M#RCDIVH`HWFL%/%WG4,0T.U&02)(`YK"K4R(74^$UUAT#-K(E
MB((/<!(`9K`&BBZ"57(C/K\.RR!%F5*!<[$.R"`U2W03W]!#9N#)[MWITC74
MH,X!RFZ=82\JH[<`R-Z=R*7JHEJK@.7(,&`'?>G(XJD!W<<#K5K:J[KKL@*V
M>)$!3<`_!%V3'R!^:W#JPX"S?>&_ILRL,WI*(]`6PXE!#%`""D4<<^`N(U#B
M53('&2`#.\`$$[`$DV@^OJ?8[-/CBUE82"`"(D#_`ZW/^DR08>N.84@0VQTT
M04>K`,2;"3LPQ9O0L5)<F;/J?0.0:VH_R,B?_+9:_+6PC26D`7&01B;_Q6YA
MJ%<'*7,@$D:1#1G@$G^0WE&!*`B.(\.=`&<W%YQ2YT`B$V<'@=UOD,,]=0E:
M)6XCD)#BTF7W$-OP=HT""#%_@R$)?QPAAW:#`PZ#CR%%>Y.4E9:7F)F:FYR=
MG1LG&Q(2)YHG$IZI:!4@J9>A,7ZRL[2UMK>XN;J[M3P8KI9B&(E_"4UB>S,8
M17W-SD4SR)JCJA4+"S@F+EM@!04K"%5EC^1_3PP0$`.#92,C57,(\NXC7X,$
M4R/A704L_BQ"6#2!PJ`)_PL,!UH\0'-M086'$)$P\<"GHL6+?'K0V,B1QH6/
M("_0^'`#0X0>?`R\P-A``4:6?6XT>)DQ`BT>"E#&XL6SI\^?N0:@M-A!0P>:
M2"]J,%.NJ=.G"?I\B"J)DHHB3[-JW<JUJU>O'[YJC02LK-FS:"=1*T6MDH0-
M:3,]J/``[8F=0//J]>DK[HPAB\P\&4))S(P;SIK=*/(!PXQ*C_>`ZK3J&HX#
M)K98\+9"1I4[65E`40!$P8\X[I#$DR>O"KT[5:K(6%'`!@P`+%3@F1'C2#HH
MN7$\N`;Q(1(1-)(JI]E#8P,/:]8T`"*@H@X=%WL02=J@67*D'@;0TN`2[]X2
M1?_\:+AA4\N-]3=NK+%9ZTD?620_*"$18;&&O;,(A5$'*BTWH`&.B*555%/U
M4=4D5RDHX804*DA`A>20%=>&',8%ERAM41)BAY2`4`$::)GG!P\EV-*B'R5H
MD806&I`PP(M:D*`>#+*0$$`M)<3P!`^U:*`!#P&4H.,L&LA8!RY];=@$,2'\
M0LD'SGQ`4F(W-,8,89*5HHF)EF$&@`43>",#`G=<^%0$`64PU3L(K(&`#'BR
M%EML=WIS11AJT/$/'G@HD`X+"A$'T0),&.@H30W,U`!*/<0`A'4&7$0$12_1
M@-A,RC6PI"QU-*!B7G7TH<03\?'W@09]\,"BJC<UXT?_'3>0L$8,&A3!WZE`
M"8@1!1JLY&@'=B2((3D,4E5)A%IEL`@'`QA"+0==)8#M'QDP<F$&'`0P0`#*
M#A*`N0%<&$``Q"SK+B0/DBCOO)N`@DHEHM`+V372`*/B!_3U.,`:LL!01QVO
MQE!'!#S`()X?`SS,0WJS1!#`P:_2PG`$=000L!\<U_'?+5%N^->T0T@S0Q\8
MJ$#)#,HPPZ5C8H`"5S"586,FFFJ&,TY64A!P(6SR!`"%#RMTAN>:.=Q)VP1A
MN&#"`2I8,00&&*#!`&D**/I0#@J$O0,1.SQJ=J08]2!`#"B]D&E%#1!!]G=\
M-("82\OUP$0M`0#[$P]]!/!!_PQ]U+$KK"4$&2LM'PQPG^`@?R!+`&L\"2#$
M0[UD`';+*>%`N>\VZ^"S6&7E0!$A.!!!`C&H[H`@7&5P[A_K</!!!@1$8$4`
M"600`3D9K/''NB%4&P&X[R;_AX;Z-M]\OOB*Z?P>8CC4;RKF!2#`QP-L3TL)
M/T:@!*\1+-F]+$H0+(L&>)7P<2S_*4&$QK*NV'<$[I=?,H<8G*NZRWL`(":$
MD9AG3&D/`<B#",;ED#)IPP+=^(9G0-.5.XP`"1]H"02`T(`/(&UI#)A-`?(0
M!A.8H`4,00,9,#"$(A3A(46`PT/@`(<"-F,-9GN4`D"%$0&P@"(OT``?/(6E
M9LQ$._]]*)NC&O`C6O#H<GX`6!]*,+@IPFH-?5A#BSHFKE?=9P"2BX#D($:$
M)@)(6#2Y3E(Z0`('&$)Y@Q!=O*#U%.*%X%SK,$/Q'C&`XCE@7-6ZX[@&D8$,
MA(`#,9#=NA(0@M\-XH]AB<"%/M#(X\'17<R;GB;U-9E-4H\AK7`%7NJ@L(_)
M(F`\(`*1V/<$#2B)2$^0&,7\D*19\$!]]I,%%<VH@0]H(0)/4,)[W,>#&`1@
M?QQ2P1!P%P`P;6)EBL'`EK(8`";L0`%$R($U'H"#*)C@3%?@C&=&X*:M?$$?
M,AA``WP#`04@38(-@(`/"L"`,Y@`!PQQB#6"<#6'Y&`!-$3_S`VNN<-(>8"'
M.53.#I%"`Q8DAT`[Z`/A;N@!(B0Q<P9J`)&@6`O"Y6I@N8(5#V`E'@$`[`9$
MP%($M!#&#[`(1KC<"QIIXC::.,$+!'CC)>5(NJR$X(XAL$(BSD6`1C["#HVD
M%K?V*+M!A`N/`["#%2(@1@(XX)"M"TM8_A`!#G#``5N]9(4RZ<FR;B@49MW#
M*D+I";R\BIBU"%C?XMK+"#A,`+*XY2RT8,;TS:($EEO1&C;J!QWQX`9*D)P&
MQ*,]$EAI7D,X5Y4ZP8PB"%`%$2#"#037!P;`80$/:($WP2E.UW@E'W>J@@U\
M``4('&&>W@!""GR3@C$T005SJ4`._XZ#'!H8X`DQH$#=G+$&3B7TN#M`*$:*
MP((/K(&2C(F`,RS:!XSVX#D8O8@"3,G1$O3!)C"0BGH61SC"'BP`?8!!&@*W
MV53E#XHSI>G;*D(!'OR!`'8H)QQY:I72.65W$1B`4JMU+G+=]W@!L,,Z#+G@
MV>5.$![[@Q:L,#QR%7)=J(M!`E1G!4.$5:P3(FM:1YP*FZ'5K#,X$?9FL:X8
M9$QC%1L9J00`/E*Z3Y<V*8&L/K"D&`R`!%K@`<-LA)^1U4$+@K6#8AE[S,?.
M2YD<,(8`,0$S2R0P#W$KS0;A-(1M\$R"G]'O4PA@0=D@P`8%V$%I&@!;;^3A
M-P=Q"!PDY?^!L"G``[^M#A\LNH.#PFVAQW44$91K$>VL`0-"R"(8'5=`NO'!
M`\25&]D*V@PS<K2P`W@2"03P)![\N+!/"&Q>'Q:D'-W*QX25:79I4I2CW/2^
M"1"S\O@+(?_6L5LQB.P?8N#C1P08P=PJ)%5G1[MS96`=/[WO!\KU.SM0U:M4
MM<(?01SB>)'XVIQXRR1.7%83H>%ZF5#1PE:$EX"9,@8DT$"`E02P`1"A#B--
M`BV),`"J^H@'XP;9`&)@DW7QX`,>*T%BU<-8`2!S7AAX`@$&,.5-4$$$>8AX
M'B(0SW0P@`7;&$.:OA$."G+%@JQQ0P%\,!\63.`&WIC`%=8)!"C_/&`-<)#/
M3`JJD>WH``\"L-NDL)F1.QLWT,K)8-YBP()(:0&DB<%;13PP-BS:\!FCNK34
MIRZ+^"*%0$IX1*RI70RI.*N_7RFGK*D]=JY+2,383GLEN+V'4Z15!?SBA(I&
M6E@9V[T62BB8Y4A@L(TB*:]U@(&.+E:"D9$@\.O+.[[_D^X5$4E6!W_RE*S@
MY$Q@0>(1CP&BT9$"#+@@#%#P!A'65(4X>`7DJ?6&#YC@`Q84X`IC@((%ML`"
M9<1`"$ZGP7,BM7LEOJ!0V^F!!SY0MQWLP-%`9X[0ET,!'U+$8XAQAA)?HI&#
M1DH!8T,,=ZG.?54[Z@5QV/K6N4[K`-K:_^SH3_]3T*[VM&O;$N\O:_46$)EP
M=[](VKN%%A('11XTP9-#,``9\'^:<&42UP!-L`Q0(`1;$P;A]`T-@`0C\#,?
M1R<R,`>TX0U,$`,-4`-'$`9;(#4SL``Y(`!8M`8[T`-A<U#7E(*Z1P,[P`)%
M8!%EXP$4H73)1Q,>0'&/XD,7(``94`1B8WS'=5TOTB,REFY15W>ST'CHDP9Y
MI2,D0%BI5E@B8PN-YX0W486Z8'4OX01:-W[DYW6C`W;E8`=>579B855K"#I;
MH5-:(31=D5-.`8<98FWMYW[W<@DCXDEKI0E^0W4\L(2VQ%'^)SW3(P:1Q7"7
M\'"8UP#:1'\?@/\'+@`$0M`%/K`#UG0$#1`QQ/8498!Z,C`"&>@-!3`!*3![
M4G,`PX$&,-@'*35S98,V*[A[#2`=%4%\S\$'.)B#&$$#ZF0V'@`0?V0`PI6#
MHD(J^/,!\(8_##,+"_-+A[=2+D5*"@,RI#)&?C!+?I`$'P`^+Z9+26(QV@@R
MVV-I7;@I2?$"),`L;N@[`>:&7Y$`XF('Y4='OK8N4_$5G_@(3?45U](N6]&/
MZ[<M;P@[Y>!(3<%^>9A6G90)?;A)<X$BF&`QZW*1&)F1&KF1'-F1'LF%MI21
M`H`!#ZE)0S`$,5!_>W!Y$L<$VF0-."`&+N`"%A!Z/F``2%!Q$)`"K:/_%:BA
M#W>"@:5XBBD`@B:$3[IU`=W1!RTA`G7C$C3`*7UV$3%X`7Q0@]=$:+X(-P&@
ME>#Q7'=44SD8'I-#)$D@)'A5!WA59+?"(D3",0&P?TG21`@S"S$U6-E("[RB
M2C"R)/Q16`1S7H=G:K7@.+UH$:_V")_3%(S6#$6@AEH1`-$G460X1^='.XP`
M+OM&CQ&3`0D0,2%P;/7&8`-``,=F,80$2.)"`,84`!S0+5$U+ET5,0E"5(>T
M;POW.OM6;`H)8'9P;#&P<%SU!U:`2!&3`(T#8;@I29YXAPVI=B69"=&Y22GV
M;9<@!MB9G=J)G5@0`MOYG>`9GN+YG2K`&Z+F_T01$`W9&28WHTF*&`%6(@`1
MYY*1"%JBM0U0L''@,`(#``3I4)I906;N4`6M@0!#60"I"``N<``X<`U,<`%,
M('T7L&I)T5!6N94&H@`AX)74QV>)!$QU<!3)UP!'&$7N\R3YY@>[PFL]PF_I
M1E7JMB0PH(VS)&2T$%,V,3@1@!>+A1_;F#A$4`+[9@N.<P,_QP<=8%_DX$9-
MH6!.UPSKH"`9\'0-8IG+LP8)`C"-\P?+YFP"^&`<P)I[M`Z2]%,--@C%22U_
MU$B]DP$4]@$*9DA"M6&,\`<.("Y19@93\3L18`>"$*4$$!:N&19W&@%@E0#'
MLPY[RE5^.CR^<T>N`_\OSXEMTRF=B.A)*F`-X.8)$5E60Q`!,D8+-N),DV`S
M934#6@)Q3%`<H-5-W^2`XC0$_B`$HP$%"-D4/TDGX6"@0WD%1Q""43`<%8`$
M(I$81'"A9B,`3X"L&(H4"I`!'(H1$55<"L!5`L!I(@IT>!$Q((.B]$$"A>,'
MO%)8,]HBLG(P3V!7=2D+N,0^M#!+1-8'__&,!.>CZJ-8W,5H!&5G/A8QX[([
MJGF1&3`$!?0!0I4$/Y6P"5M(#%M($U6P7U=KAP"@P\,MOW,[A50MNV:HM!-4
M%8NQG\DMLY,ZQV9(O>,Q&9`$7!HN)GMLQ+`.=\I(`C85@C`$2N5@OR,M6]7_
M1P+8F8K*.KMV;,%FD8:D+`PYJ<Y3J9J@M,ZC`@RADB5VJ6GU%P%`B!IP6_#7
MGIH4`#NP!B]Y#=QD)@ZHGVOR!(+R`4^@+7#J%.U`#_(0#[-1BA/P@2X0!0U:
M`45``P(PF<W`K#V(!\;2K)`"K8ZB`+!($0T@.RP@``02N,<5"T+61#&`9'7P
M,"I*)(FC)##RK1M#`J\R/X5U`^^Z)+U26##R'^K32CU"'P1#,?A*I$]G0P#'
MMU`J7;%[N[@+L64HL>40I3%0/.(B+L;41\;TNXD@8#P;+L"+II]#2<<3`4EE
M,45`+<=VD1168>/"+@$@)ZJS:[D3`/[UO-12/&$J_SPW\)KGLCHUFSMLVJ>4
M]`'E=+1(JR]LYPFFFE8.T7#V*[5O9S%8.`"DVG9:VSP!H$TQMTV7H0V@1[8=
MAP=M@`?=D@`;9I"/D`_T0*"Q@2>].@8`<$*K4$/Q$1-K$'W1FA1`$`"<([@8
M(0*$NQS=(1,5T0/IDA-\0`$&D*T)%0OUECA&XE*\P@-/`#$Q(&1(,@#_]B))
M\F\VZDOL8Q/<"D8:4`=!ZFES!3*M-#]1[`=$H`$>HZ(^JFY$RGL-(`((RRY"
MM2YNFI'C0BW!VZ_^&C'\EFMQ3%5T7,=:*D:5V5/E\$9F8"W8TD?;(@5ANIAN
M9)J+8)I1]D@7X@`9X`B]X_\(:)A?L88[R../$LPMV!*FAI`LKHF0IKEUE9S)
M=FHM^/4'A^R9IFRGC>R<\UM6]>L*KZQ)$VD6]XMMRC3$13($4]:I)-($7[L`
MTH09+A`#6<#`"#`"IB<'/Z!3;E0N4V!!%QP.(Z#!0UF4"SH<-51`:T`V,6!<
M1ZH<%"`D*:S"%2$`'%#"2^EH6C`\1+$Y@18+,)"Y_P$#`<`C)/`BX,-XX/-$
MM$0J`:!X-698.T'/2?`?Q51+A97/*_(?:;!_.F(Y/$)WA8D2%*`$LI938[>8
MH]S'D#F/>6R&7=%AZH<A'D.0U":_:;<!`RPOL0S+*ZU)WG86+6U6PH#+30C`
M;K'_AR0B!B"@3V![&:@*`"TG3JWQ!1>MLG?:+>=$#VZ+`'`;MZ98`+]Z0@[!
M)0KPI,U`!-C'E&;3`RQ0`O-%SEK0P@SU*2RQ/`CESCE\?[=P>,?D(CU*=4+!
M1E"AAI^#7['F`!WM%?=XF2/]UV:'TM?&RQP2?VE!V,T#=PL@TR\]8H81`R5Z
MM0)$"CO-$-;PTP<0!2Z`&PR`#I&"!)\Q!138%$F@<+S&U$P=&T\-U:9H`2ZP
M!W-AN\WP`1^A>S&P`WR[S;MH(%ZM!6$MN%IPSMQQ-R_1`&':BSKPVP82B-UG
M)+B@`7E'=0)@`%Y0UUMA51<2:]B]+'U-(==+(;>:(667_RQ?X:;)DSKKAX=Y
MR+0;@MC`X'9OIV)F,=,C-@,<<]/.Q-Z>,`.K<-FMFMD*;`$1T%KI,`:X<]T#
M(`1-P`"F@@02&,VKG309.$\E-!PB<`%=&Q,A\1'"%5$VA(*[76@78:%"1,[;
MZY5(-'T7$1ZT<Z1B^2C,S3?GR=92UPA0(8]-H=<8'6MV*"'=_11V4(]W2BZ#
MM"ZE20"K^0CB8@CB0K++0P!6T"U%]4>-(&V?>2[A4IJHR0CLPDC;.TB?.2YF
M,"YN@N2-("V,]$?I0KW+LRY<:M++H]YJ-R(J32+N719W/B_S=Q9Y?JH!N%$:
MH,NE2M^9``+]?=EH$%J9/9-;`/\%>1`#3(`!KI4"%*P5B)0.KA4#&,PG3RWA
M$NX##3`!6]`""T"L%X`E:^`1&[YTB7%-U'5#6GW5:X!1%GK#@BO#POT2%751
M2,$$=DIH+[[<3%('AG5X2](P%T/CW6?C.8[C3O$Y3%H,W/W1O.L4Q;-P'+`Z
MC7!'VZM(T@([LJ,ZLI,`:Z!4AHJQRGM5[/(Z9M#)B'!'BS`\'."GQ\8Z"\>]
MQM150MNQB(JHJ]-50F6H,6`[03Y5\;Z0<I[2.DT*C0T,^LWG_#L]F4J1>*[3
M>2@&3?#6))!K@PX,3OL0#<%-+8`9WZ09X>0#,8`$`L``(0`%`KD5<6`H[>34
M5=`T3GW_)W&;-$C#6@O(WSGP$8;;!ZJ^ZA4143"\=`V0X04$:.7,`JW6K!YP
MXC01441`H16A`(:@9P-B%(ZR$U3E8N*ZH[Y"13%0!#.N[/!5W>40[6*Q==BM
MUQ3RX]9^O.9>#,9T8'UT1^8B5(#,5>'"58&J.@&@1^(R`$F@IS\EM(PDTL/Y
M!\N$+<5K5+)#27K/569*.V1Z#]#KFLW&:SU."`FO\/AB\;0<\1SR\'I^#7Q.
M^OH2#9,P!%!K">4YKI*];0UO%?T-MJ$E6MKP>19P!?J)!"?IR"\?H'/`X-,A
M#P.@`,?L-$,)ZNQT!`H0`R)A43*QX2!A$;IG]0=%NRB57!YP_ZTI\0+??%PT
M<$C*10'36OX6$?7#4_X$@L-(,=`-$T9$\BI%0"29AO9R#0@.?X.##H*$B(F*
MA@D.C00)BI*2"7T?E45[FGLJ19-_(0,$`W8#?Z(A`:09`0$<":9_K`0Q'`$.
M1781!$4.$7\Q,:<$H2$.,<0<I@E66AR#KAPQ&<^_$2$1#@,!$7:V@P/&I!$1
M'-VINZ27K4//DB&9F_+S]/7V]_B:)_O[&_[Y^$X`''AO@T"""/&IJ(`FX28)
M!QTB%-.G3Y$U?6Z(`8@AA@8_`X;HVZ!P084%"Q[@:!$EB@D7`,)8`#.A0($5
M,F1424#@TZ<[`W(@0$!$2-`40T3(6/]ALVG3!A`@,!!QH<&-C`(N:-VZE8_7
MKV##\ME1,2.1JV77"!'0@)L'L7#C>FV0(4.#L`HROI7K-<`?!PKB=M#0@2^?
M&'Y(1/@PX(.?"'X>:U@3N42=R)@S:][,N;/GSYX'>$%$P([/TPX($#@4Z?2D
M2I<LRNOT*42,$#PC.0@1XD^"#"%4\SY$`#A/X!]DA<A0W+=I.\M?05KN^P^D
MW8-^9XB16GF&!`F6-QH^B!AN#H;0\RY-_0/U\)/@29PO<8,$30;MS\]/'R'_
M_@Z)@=)^$0%HCQA"8%16$1]@,`,^8LPPA&5#J+"'!/?1HP(:*"VPT@$NN>#"
M%F&,<45--^'_A,`(9;@FR10C5#$4`C(0`44*$$#!P`Y.37"%!SHR``00#-"0
M5Q\*T,#5DA<8%E8#&2GP5@\--*``1C=@4$0?V_3@)%\-_';75U;=,*9A`H#C
M95P&O,`78AH0X0</13P6600:1*"%8I>!YN>?@/HYP"'6\>2B3ZTUXLBAB,"&
MR6R>Q.<7HSXE1^EIVY5S*:66GB:?@:#:@^$>!TE`DD,%AAK0J:KFLU!#]9W`
M:JN;B(%6617=T*"%FD0HSPP1!!"#2*/*\\!)'H+X$@`D6F"B4RI6\44BQ+@8
MQP@Q#I63##M$!<4'711P!1066+`%`"Z8\,$"(EQ9D0),,ODE6%+&_^5!`VNP
M\$$?,>@P;UP*$+,7'U;U<:9A"@C"P<%BP>!O7(CY$<,',0S`PP"1#:`$#Q$8
M!4.@((<<J&CEV='3IHDPDAIXFSHJVR:TH2SSS(JH1O/-A'Q**ZVF[F'?SPC)
MNG,^)V0X=#T"+K"11$(?O0<&93F(P0>WWE!$$5>)--L,'T2@0K%BH'$2#@<L
MNT6Y8.2!8HHR##5"'(J8X]JUV6Z[P@H^',$`%#Z,`8,16Z1KP@$/+("$`$Q<
MM496\2[Y[[Q6"2'$#0(8\#A>H(SI@8(,R^7!I"(8IL/#8D4L\NFHISYH=B?C
MK)HCAOS5NFLNQZ-)S)+<\H?NKL00P6V$:/\CRBB#$B"L.X-X`TIOKPS@^Z2#
M6%$+*-/(,D`LY?GE@/:M^"X*:7XE$$/XX\]^J,Y.&XBA01`91%#/Z8LZ:_R<
M,$1?TT-35,2#OVJ):T88&,+2>H6!&\S`($E;`!!,$!-GI<TI;$-`%48P+4F4
M@`&MF03=M+44IJQ@!SOP00.$$(8S_,`$42`<AY!P@2,9K''RNIQA>G"5)L2@
M!R^PG`SYP`10O&5S90G,O(2QNS7)10<Z#(OI4L?$)H*&9(;"&2$@X9O59-!%
MM8/4)P(0`C-\(``$B``K_F`&(LKB-US,@"\X$)Q._4$9?XB`*<`H#%ID(#L!
M*&,"TA%&EB'B%]S_V`TWS/!&Z)U"&-G@XBVXN"GTT8\^_M`/J>97CV(]DAZ6
M?&32!IB03-**5P?:U_\L4@0':6(`"F!,$%+"@A0`06T0C*`$[S"%=\1@#%!X
M`P,N@`Q%E"%;-+I;4[3@`S"8JPEX,,$>R#`#DZ"!"0JXU0MAN!4C[A!@-.B!
M`%C0@\$4YG+""$$#>D`$7!'A7P%[8^?$DL/2.?&=\-3,H!HA14K$CE)9A%FD
M*!&.))0C`!D8`'!^00CQV8(GD?)%(B(`"S":0HP9N,04KP?'`22@:P0EA"BN
M89L]+B<<A`"H-=YH"G-<\7RVNV1_>O8S#N##DRI]B-$>^:K[4?*2,TC+_]2D
MJ:L=W.`&<,B!`O8FE1TUY6XY<5L%/Y$!($0E!=SQY1UD%$RFV,0-Q@P#`$Q@
M`CS@H7!D>*8+<<4X:E[`FM?DRS8OT`$#?/-?X6P`67Y:%K3*A2Z#B,"77J`!
M)6:&!R2(#`^4L!D>\``SAL4,#`[KAX\D)K""U0P/ZL#8OT*VLB2`+&(3VQF+
M$JJ>C3HI%BWQ*'WZ1%AQ&$(`[!#0B')`%Z9PP!RXLXWDV&$()[T-!X#ST(""
MD1S6D8;Q5.&`9U"'$&Q$!G#%&(#D<`,;V-@C27UC!>PQRI$Q=8A]BF:05,D#
MIMG%CW?3M\GY@/>16!,@S&:PT[+`H0(/$(-3(?_`A0;<#:EMF^`4S">),$+@
M"%#@+P'JMI2F3,``@-OJX'#P`#1@8`&,B4"4?!I$LVHEK?^B`0MHT-:W.JD'
MIG!#.8DP)0]D<UX]F)0;UBD6;W[%='58PV%+,#[(8&9\X_,#-YZ`F`"4`#(7
MBXR/!6OCC,6`QH[)S!,"&X`ZS>D#CJW,[Y8H3].`MF8HR^?M]IF[7V!#%GZ1
M&S164XY&,#0;BL!&:=P#C+]\X!!C'(`9_!*#,O[!"E8F!)N#%4=!#,`=#K!"
M"#Z@"^/9A@#2:&1*PZM=D@Q::_-S'Z/K(>E+UM2\,U7I##BY"2SD(0]0>J^'
M3`"$-T`!"CA)ZBQK>:C_'R@`"`-H0!(4,=6J-B4+,-"J"U+8@L)5H`(?8,%5
M5*$DK31@7S>P<),P/"\-TX`"A)G7YT"1$19_20N$L'98.NR5B-7A`T4X;``B
M0P3&DF#<&G#,&@(;`1(@!F,#@.R0YU3D;V,F`%K(#&2$11D2="W*(*EL'900
M``W`(`"')=F5I:AE3G!9$74A8_CN"(I#;"\`"9CS+6S1"EH08L[@Z$EOWCAR
M8@`4%">G@Q9F;<CO?>?./3%>(IC7<8X[(`-6H!1V)QVT#U!A"$5XPCPJS?.A
MC]=IY8U5T>7AZ4_G80<G><`!`,`"!31!`#EHVRSA=B@'X($%0GA&HJ=8-ZL6
M_V`"8(!!&])U@%ZCY-=PZ$.^(D`#'=1A2320JUF9_;@>L$``?&C3EVC0FQ#T
M@088;L#)`O"OMKHI8H#]`&,Y1N4?EX`'27Z"!FB,)]/-FV,W'C>1,:,$Q!#6
MR3PH>&8H%@P_,";&/G[W9Q<^LX;CCO93'/F5=0_:5^A\T4LG"+B;8(4/R(/H
MP9<'_NAW::4OO>E.SP%#6M#5"/@@!EI`@E(O98<GM,'[AIC=%V148)M,``I&
M4,.N#\!@D_Q:<0W89E9TH`$FW8`J,.1[W_\>>-+=]8[BQ&QXE3F/XU9+)'F"
M50=$`'!*D`1$8`=RX@<"\!&`%0$<TVZ?5V0Y%AG^=O]O)8`9E"%D'X,9'^AZ
MW_81,F8G"H=[M4=:+[-E+!B#,JAHR8<0&.`@U=4$_*,)\%.#Q[=\\:,""X`&
MG$80_\%H5"`"3O=I8Q,%,1$#3,`$;3,"=\!UE.)U;8`'2?`$3Y`&)P,CP71K
M%F`$)S`X;O=K%1!W.]``6Z%A\W=W7)%*,&17^L<7?@=XHV,88?('*\9L(%8>
M3/`X;76`,Y8Q`B!824!NDQ$9,3!Y`E`'EE$")2!Z&H`8@/5C)'B(A]5NF.%D
M.@9PHA<!)8"`X::"LS>#AV)[#X<('-`3K?A&X4$>C3((;!0\IVA/P64==X1H
ML<@<B>`.(?`,Q:%&4W1/U'+_,SOG@_/@(%SS<Z`T2<I8#T"8/LW'-#=%/TFX
MA'D@?0M`?5N0`C:A(G,@6EWW`P[P!#^0!D]@!:D1(^4W`2D0!EM0ANS'(7"G
M*TP@`/!"`_JX&/!R`1R@%6QQ`1^@`%EA)$P@D-I6AV+1`S&`ATG4D&L@<HC'
M;#T$#0,S1*MW6$>6;AJ@`8D(9=^F&`$``QI(`I!8!Y1%!)81`915`D_P&!,8
M`.L&B?Z4&2&H8Q]#<*X'`QI0!/Y&6.LF,2`Q&JAX*:KX"0)%`&SV`=O!&QGU
M!W:0',H0"M8A1J317XST!\D148BV#;PA+(C07+L3"K^Q#58&'771.B=C1M9!
M@]%X_P\8H`(8(`88,`_3&)<7DFG4.(1%2!!Y&3]*N(1,,#8',")C$(XZ\060
MP%^,T@8L@`=M,#[C]XYC4$(G$`4M@`-OEX8&N0,T\`$?4!4"0`0T$)H1H!5U
MH`,%V4(?P(:CF207`$)TR)!Q00%_AT,1^14>0`1K,`A]*("M(0<+Z4[W%E@\
M(``#<!D:D&\:H)R'E9P#X%CG%AD"('IU<#WY-B<8<VX#(``S5@<!T"="IEC1
M.6X7HWDZ)FZ!]8&K<Y3XY((I=7N_"%#.4PIC%$93)$>[(PB_L`T4YPN^XT43
M,PI#P&;`(#[+$8RZ(V9_09;)<7&JH%%B]#N_=3VNE5<#L/\+7:,+?%8;P*>7
M8A`A-Z`"=/E=1Z>7YS4TU8@JUW@T@[F$OX8&U.<"%G`%-M$V0+$RCNDB<O`$
M31`"#*```R`#/F!^*1`XF>EV[K<``ED$"P`'<&`D%T`$`B``.\`",:`5#[F/
M0Y":1'`!`PF:Q6F;8!$#0,`'%Y`!'C86EC`((9"1US1MT`!.\>0GAH4QFQ$`
M)*"G\+2"\#E:L3&?JSA%JN!1=1$L:V`,5F`<<R0(3KD<`9H*12!=X0!((S<'
MW-!0NZ,*E\`!5I!H(V5HK!4+:MD;V9`*R6%&JGI1P+`-A9HS(1J-=/D!0\!>
M=2E31ZB7W\673B.$1$@?*THK`J#_C7E0F"E1-F>CF%7``5!0`H72HZ=!`$_0
M`#@"8"%4`'E@+BZ0F>T'=TW0!%K:!$60AA4@AT2@`.IZ`4)`,3O0&%JA`$]`
M`V'*%G*E`.=DIBBV33'``B7P5GFQ!D04@'P'/0$@IX:A)TFP<@R[L`[;L!#[
ML!(;L0W+&!3;7/@VL1I+L1/[8VT0J(R2E%L$2,@P1M*S&\H0`440#J81+(OQ
M`:Y8"V=V"K91EN51!'[!G[HC1FR4`>2P!C[K&[PQ"$34LW?DE.K09E=I4M;P
M';R79K.:?!MAEQ9R@T.7(<C'J^*E4BW:2;Y**P%@K'GP:]T8!2X0!EF0HTB@
M!3$@%8(F_QTRPP'SI0`VL:U;8`("@0/VF(;!]@0L\&`+L`:_UIIA>@%KH"0"
M(`01D$HE4!5?&J8-X`$[T`,]H`"AHZ]?<@%_=Z71EA<WX`'8YD/ZER;E(432
M1@,F1@,E@+JL:V*NV[JP^[JR&[NH.[L>X+JVRP&ZN[N\&XRZ6Q>\^[LLD`8@
M*ZBE!8-;%#Z_`*K@<$7A@Z&TZ`Y24&-V(`RKM0W50[21T`HPYQM1&4<HAPJM
M`&@"50VE8`6[T`UD1+W"H`S<"Z):NVEBT"":D*M;NPF[JK4^DZ([`ZQ_.1##
M:B!A:ZS<*'4,9`$H(@-:``51`0$IH`,K<XNNP0$,L#<-H*WF8O\"]U$X[@<'
M^<("?XL!)_%>YYH5_R@`6RJF6MH`!E`'6!H":Z@`5.(5]X*Y7^*00+!A;44#
M5W$7H4NPPJE1"#LOW&;#EZ,$/N$(JR$'D_"CQ%N\B"*?6@3%5(Q[R5B#7/,T
M=_F#TOBBT9BUOVH_D,2__0%]A'D2-'J86Y"8-X$`=Y``#/!?O&>,AS(%J&2D
M"K"M6R4K'/QK6U($P?"W:/AK"6E6+``$%V!W%R`L1GQ-%*`D7B$"W#`FDQ*G
M^D<#T),`IBM#+M;(7X+$TVH'Y$@(:8`'3%S%BB"RJ+S*.'/%6/P!*G"K^!N8
M1:._/^C%K>*_8[PS9BRC45<V-IH'.5K_!5-@!@Q0`F,`K8BP*(=2!E6`!#)0
MMT"P51)`!7V<AKF"`2S0!(-<`2RD;`.`R#G$!`OCR6D%1%K@+RD&IV7Z)6X9
M`\PF>.8L%T[@(HUY&NIXRJSL&U)L6OO\SRCCRI-F2K5B?,J7#P&LC('9OV),
M(+B,$%0@MML8=2PQ(E"@F"PRM-JP"*-,+2-`(^9G`>@B`5;@:R=!%KBB*VC(
M+LJV%2PP`'S0`:$P`$,\SWP!1#O`!TA$IY:L?^D$G#7]+P;@?S;M%2]@SWEV
M&C]@RO^LRC@C"CGG(L#A(H:$"+C!R@+-:/.K-7N@7INPT#)ER\KWM?WKEV/\
MT`"1C01,M@9L_Z,XVL8C\!=3)`E*[!,#%H83P*WVT<<YH"0HC2M2"@<%V0"G
MB:__&"]>`@0"T$U,X`M%C6+E-+E&K051#<0"J'N:S'=Y^-@Q+:U3%$6D08[J
MF-15[-2_N`W28`H!)0KB(V<9\`0#`+2KQ0W,<3W8(SW+X3MW)"S?(2PSO3N'
MA!Z^$QZM(0V[D-J[`SS<`%"[W=H2C%(B2K]#L,4C881DK(P]&(0-/1]@/1`Q
M>L84;;;?J)@K<BBE(:UW$(8%``6!0P5G8-(YL!4"D"ML:"4*4A:W4E;5=*8L
M0`$]D`09$-2<[15DL089*0(4U]/Z9TCPK-F[:8>4&^$1?KL47N&R^_\6'6"4
MIP':G]VC:<`"^ES:_8R\[S``98!;7#0HK"!GU1L"<\"4OL`*,=Y&M&B]LR!&
M%N64NU`$>O0!;)0,9E"5K1$<`#4-S$%HMX`;;Y:^JJ"[-)/5FK:#6FS0/(C6
MLRS684U39BVL9`T0Q2JVW)@L+Q$&8$#><3U%TGK/M"8C5@4&82`B>#`$+&`2
M\<T5.W#8;6@E%)86ZIH5=D4!`H#("1,!M3G@1\(P#6!E!YM6#JD%CJX%%$>+
MCS[I6B")E5X"EXYOFJX%FMX*GO[IVQ#JJC#J`P#;JF#JGY[J5A``JZY7)(!%
MIZCFDZ".3RSB@SK%[X"JX^L7U6L*8;2S,\[_E2'0LH.0GU/M'MM@GUQY"AYE
M&KLQ/N'0&K;=18U17!.S1V0)EL:#H#(#Y9<D!OLC#UZ]E[%BY<&7T*'2M5X[
M'U]NK(49WB."P,QZYL5>U=1B,HD0!^1G$U<@TB:`!=,]Y]_<TELA3?B]AA7I
M`?6R39C,`9L\X&021'AQ"%8@X#-D70`],QJ#18X)VK).RBQ`VB!KVE:=<P-0
M7:70Y*T`EI#JL\<N/DU6"-<@1JBZ1](#1_]Y40IZ/:EP&ZV![,7P9S,?`JIE
M6S"[\@#5T9X2M>%EET7`U;UZUEA^(=>=[EN.:0XQP&++UF3#0&3>%$GU-B'U
M9AM.*'==8!,P!GNL_P(A//`$KQ4H'</XBBMK@-(DQ@<:YEQ$/>!0DA:8`PT5
MN4/K+#,GIPRF(:FB?HJ,!`L@M3W;H/&P/@GWY``FP^&#X,2V?KP.]PFKH8N1
M0`I6]EJRXQO@83.-\`H951RO4QTWM_JZ046_H8N.8`8GH_J"D`&F80;$^`J"
M('-O]`R6?UU,GQ!@;(-52]WWVQ_=[8/%S]"PLLL$H?5KC1(K\1)G@R)(-4%?
M8`@.8"7:_`0AG@CT]`=357[QB+<)Y/9O?P$TL#@70`%?025S3_<*$+DL$!P1
M\.!%S</_`P@>?(-\3'^'(5HOA(R-CH,]`X>3E)66?Q\1?Q%]DD4!`T4#`_]K
M,949G9@?`7T)`ZM]`9>SE9*TAPX.MPX$NKE_!)=V>&FWQL>W"7T?RD5[SWLJ
M1<B3(=23"0$!UM?=WF8#NMZT(<[0Y^CIZ1LG&^KOYS,S>QCS>Q]BT.SP_.D2
M[OT""AS(CQU`@@BAJ5B`)E]"?>T"8LE#L6+%'!4J+'C0(HH)`&%2%!BY0H8,
M!"/FQ-C!(`44!D0^/-GE($X5!#)&7@GC@@Z5!PLJ(+E`M*C1HTB+]G@TB$:?
MIU"?QB000("!'@H:,-W*M6O3-7VR*A@KB)"A0U9H&%CDU5&/F>,.O2*P)D($
M!ZT&:/H3XP.E!$4^#*#*@<`-#B$X_%EC:USC60[_$B"3_$=RY&"5Y#SY$;<S
MMF7-SDGS3+JTZ=.(S#T\MV_U,Q4?I&'`,`2B:W4G)-S>O3HB[X`J*J#9W1H>
M%8O(F63<V.*`"1=;CDP86:"DC"HC[ORAPP`"A`9-VB0Y1-F2`PXX5XP<`T#-
M!J!"D\J7WW;'TS4-%.RX\516A`\A\%=66P1NU0-8"G!E"B*"&*!#@81$XED&
M-V10A(7E_#'`#46L42$EHXPR2033('*#'9T]9@D!Y1F32P*]2`:C)7+@P1EJ
MU"C#3!^J15/B)'8$$$,`5H0@3@(MHF:'8I#)@N,?5OSAY"%V<#-..;_YMIH*
M]6"@PA#V////;^=(H!N9_VCRHV6:Z2S4T&T&O4.%",A9M-P".!P0A0L`6``&
M=2M8AY)V#@"1PA$*/,&".#&@:,D7(XR04P$[J2$!?#G,IZE2!-*PA@)+04+#
M6'_8P6$`'Q"1U8`0%N@!$7T0$>HC$AX20%DZ&-!JK7$9E@E=F6CX@16E_,'!
M4S'<\,H'&?!5!)-/?)@B+2QV0T`O?^2"F7E/M/'D,3J&IM"/E`PAV0`9A-!+
M9`$X:JP5'&30K`,!-)M`",U68XT#=ECA0+J*149>`$A&T&ZV[2))@&(<.`#O
M)(@U2T`(UG`0[P?__I%!`/].Z0V6O!7'S@D$%5&;-"J<LR::$I#,YLLJGPFS
M:/_"\;;R,W362=&=''D$DG2`EH3`H!HK$,,`"@1PQG@$-*#B'U.,@),;(UF@
MQ@DX++!`#C1L.E^K?,S:B`?-_G<#JE!]VL"L#6@%MB/VR<J5!U-:,>`+ND+X
M=#><2-*WAIJ@HJ[%(=A51!$AD,(!C"'$DH`XCM%BQ[;7Z,(BBS-6XD"WWR8#
M&H^B3<-!`-O&<*XVZ&8PQ.B3,!M!XO1R,(`=`X2PC:T4HUM[!.D.%@)E$8R>
M`+,8!Q\#!S&40X!=&V,&8.WU#A!`!$]D\`$!S-;+N\?=@!SR06/R,\-LT<2V
MAQ@.[7$SFL7-S*:9[HO&4/J]';3'G#I3A)'6'#D'G07_6:!.=4R"`.QHYW8:
MFYT0!'"!%#!@``*(TA_*,(*;R&`%7;B`$>C0@@=HI&M>0\K;NA(!`LCA`T)8
M0PE6`A:HJ`HL-W#;"/F@@#ZL@56/H(&5;L4(O'6@0'N[1@`.\X<`-4LO<BE"
MDD8A!P_=H$(1>**RIK6BS'GC19>IS"4(\(0D4*YSG]E1CT;#"LB93DI(&H*\
M0B"8$6FHB/>*P?8JLR!;,*M9'XA8!AJ#*H*9(@9[U%@&(B`]BK$Q!N+01`*2
M)\<!Q,`,F,#$(ONRL<YX#TT1B5.;\+&'&0Q!#$4(TQ[@%[_VQ8],I#QE<(:S
MF]P\`W_Y4XY&^O><+5A`)`(4_Q1*O@"9&!P!`E`@@I.B5@4DY$`]$X#!"0[@
MP0J`,(1$$=L,']$`:UB!!2SPP%KXX($&["<J?8@A#:1)H!K>`(?4S%<1:="(
M#FC@AVT)(ACG":)+6+$S,ZK6%X'117K^Y7-C+!'D^'(N)`&R>3'`C"9D\3M-
MZ*Y*3@K`XGA7MG0Y@)"3(%T$%OD'<Y4P'-.S`\8X5KM#?"!(`2@"`48Q!%WX
MY0-JY$#V+-FCWXS)(.$[AY>B,1L,B"%E8I)9*==W2M>D,GYNXHV98*DS63)'
M3_\[0AYR*2CLE$%RW0$"%*!VAPHB0`0!+,`2?G`"+&B$@=!<`CFGZ0@*[$4!
M-&`!#?]R10@*T`!6X+S!#E9%"`\H`)V#:,`39<B5!KB+A^TT`#R[(D]_SO-I
M]\0G,&"$I"V>X0EI2,,^<10NT(WK$B&`9`9Z\;L$R,Y*UFB6'<R0N,1(;TI4
M&4QEK9``%&UT$GM4ES4J5M*,68-V4UJ%+/:XQF`DYG?0,RU-8>8.4T)CIRI0
M@1@PP!JA%I6H17V(<V$&@@H\0*ENR-_.-(*&/#WG9U.ES@X"=1*BS8(`,1A+
M2X`0`R(@@0E,2$$*?-"`&&P`!T$`@0B@R58(>4`Q(6B`!U@@`+PQH@%0V2M>
MTZ8?_B3($8+M`V&YHH!MV>T1[ESL5AKKV,ZIZ'&GB0QE43S_BR1@<R894(P=
MLJ$-)D%,,J-#43;<58G.!G2>W+M%XG"TEQ(7L::H?`;)S&2_&7"2'F':[BFQ
MFUV$:#)^W?VN:ZA``QIT06<-N)-Y^12&(UQ!@#X8@P\(:-5;C*([$$B!`DPB
M@A1XAPM`P,-"*E"".FQJK04FH5P\T(,8`"%7BUW##M@)B?PHH(51@2LC/("@
M`C6`$HA]Q#:YTIA^62($$K3"*!0CO6;][A(E1(N5I$3(1M4BMH.9A`-&(<%+
M/.873Z+LM9)TB"0\P0I"@.\?AV>QVQX">R&P0_`VNNR!AE%<KR&7D:<][4NR
MK&5Q<ADTAE`$#'R`NL^0<E&/6F77_X@[31X$P6JHH`#^?,``=5I.>?WWL[#Z
M0`%YZ`X#O#FHB6WQ"U6H@@B\TX`+JB</WHF!HH(R%!WX&2GD'-5?`UW8>6F%
M`@)@P07RQLVYU3`J.^@K6$)>(!%0(@2,9HJ#.'T("ZDH`(PQ5@DY$`$[F$X3
M"[+$&L0A/=RFF@-%&.A&30&*21QO$^JLA:QY79IK:3&RATA#%YM`E1)JXGH7
M+<\HK!&,UTD"@3T&:.A,,UH;;_%@QG+`JNU)F?.8>DFWH`K3LT6`I)/&VNP;
M97-/P*7TB6$(0-W#E<L-#7(3/B&#9ZX'12D0*G`"*A_0@D7V]X`QV]("9Z9.
M!.`,`0$4</\$90A!S@\1!X`/#0%9\0$0?$`=!3``"$"8`0L6,!2B.)Q3C[`/
M5"Y,\4?L90!ER3@+8G"!MGB`/S;,"B1@M0-`,T4`F`8L(U;.%%L@MQ+;D(3M
MM-$+WA6R&D>3Q`UX/B5C\V5*]ZI7J?QB4EM)[VB$1*(MJC5/A='B!VV@*)$\
M\8HH@0)UI+-2^/)U:T<>8O=9U!(,O(`+EC``'.5TD^!T')4M0P<YSO8O$M,+
M?H,MP'!LVR([#'ALMC)KV>*!R^4^+L-W5O`$'P`/VG9X96)=,(@05$8F:%`!
M@1<0QX%\D%<'-I`'E(<#'O$_8S`=U.$#,>`#1\`%*3`T(\!+,3#_!A%X!S>1
M'CZP!B/A`T30`%=@`2R0!!*``4)`>TCQ3EOA%.`D?137`))!`*#"!W$E`$`0
M`B*V%37TAH1@'S?4*EI`"1_6%73U"(U!@I4@:E+R/*:0.`EP%_ZR/(<0/#>`
M&3W7?AG%1RN%(@[P(](S/"&B(8H1=))``#S6.9-S#'H1&;P321=5*J/S"G>1
MBAPU`&;W;)X5;>3P.J#@@+FX"6\D/<QR--RP1Z^%,4<F4XZT4J.`&:``2%MG
M!?YA.ZV6.T@D+,(HBP;SB*(&"C&V=7&!=VFR`4N%!1&`!4Z6@TIF/S,H)B^8
MC@3A2J>$!@M@CM/54_188>#4!SL0`"(P_TL=44M^8H0DL0(LP`1`D`,"@`0C
M@`0",`90D`)C<`$Q4(4&)T`3<`4,P`(`<`:6`A],(``>V64TX`$7X&<]4)(F
MN100!DZ\UWN-L"`9H!4]P&`:MVESDW*#4$-$H(9;T8<9I9.$X$..,(A/HPU%
M)`N.B`BTDP$QT$2Y:`<[=PA#,B)F5'Y28B_L!PS2,PI$Z8"8,&N70VVT@#Q0
M&0RVH'[5P`$JH0WT0I3V=("V.`NV@PE"LHQE(R4:LD@BQ3&/J`L.:`M99PJR
MN`K!\XB")`OWXC?0N#"O``Q[T8J*<3Q\1(@A@BK=B&0P,P140`4P907F`PTU
M2'CGQH[O8'@OH_\U]",&]YB:X/0)($!+_Y-Y`6D=.8`$",`"!C,"`P!G*1`!
M0W-!%)D%*6`!6P``+L`")D`&6E,!<*":X<1&S)E74O1$:S"=U#F=-MDJ#<`D
M,3`('B``94%]EA9./LD4'H-R!-(!'$<(0FF"120)2ED9>P%??/%&UW.7UT@`
MS](\A1,,3LE:OV,*(%ATP1``D!0\/<>5&#,[FP66)>9C8P>741(.A(,\JPB8
MBT@X>^%JIN.70V>?K)5(151)A[D)T&@&LG,7RG8(LG,[-1>9$>6`]%*9V24!
M,Q`!>Q`!@!=X.26:K/&9/%IX,L@F8C`_YP`F1MH$8Z$`]Z8?.]"D.R#_!!B`
M!D%`!?X3!D48--;17@@P`$^@*`-@FQ!P!`V0'@*4!UD@G,1I`E'0`C.`!S>8
M`ZE"!'(ZIW0J3!%0G4X4G3SXG$^Q81#2`XWIIWR@`P]"(!`60R/D,9GF%>@I
M8HU!%5#)).DB%XZ4+^@B)3VGE#TG!3$@1[(0))(1`$W0J:2V#=PP"HC$BS;7
M<Q0C);J04+'&H++JH`AX"?)21!&04%;0J8!#=,M#<\F#"W9A).472+(@)(T1
M`D,0//L2E^B2.*)(,(2T%]D`7P:3#;@5E:YJ%[-(#=[X,O7P"E10#T#ZH^_@
MH^8:FKPQI`L@)SF3/[8Y2V;B`B$!D+IT>@4$_PJ*0@8C,!:;YP/JH1-C()PN
MX`)JV@(X(*5H@`&U1Q1=`9X%<I(F.9Y=D9V#]@B!V!4TP!^"VA8]H*C7V16-
M2@BCYUC\4H`KE0%S=PTD)JOUYY8^XK)/H@UL"9;?FB:@)`8G,#XQ:*[O`([H
MZ+/JH*Z[D53I\*XZ$P,-@!$<80)JT`9+`"@$-#0!AQV1,@(!\`0!-P`Y<$$^
ML`,"&P9;8+`F<``=]``*JY!R=0'.QPB$RI(S-'\=ZV!<X2EA,4,>4&M20K&,
M@)YL4;+^%&-,EQ@+RK(RRZ"T^I:'>QHQYK(WRQLS$!@J$+GYD#Y$RZ/N*+3P
M<+FNL4KH@+1UT@`L$/]F>+(G8=`!73!`)V&U5]NZ5VM!OCD2$S`&89"F47``
M.``400$"`P!"0#``2U`@&0NW$*(`CA(`(3L(+Z`!!M)"'=L6#9!TBUH@VP2X
MBUL:+7N]J)&X,1N6ZE(9WUL9XM"MVGL+B'%JY-L]EOD;0^!33@8F/F4;F@L/
MI#F_X8:NJY%ET"``XI4'HML$&+`1SA$&`30!-Q%P3_@%4S`%7]!5K2N1L3L!
M8$"P:HJ[NIL10:`%1P$$`@`A0$F\$;L@RP-H(SLV$T9R;V-8T?<V%.`@CI:D
M,!S#,CS#-%S#-IRD_S>969G#6CF)Y>M/W#L:LX`\T/HZII")IG:5/VP,$5#_
M),Q09"?()I%[#BUHN?C[H_5KO^H3M&DR`Q6@;@'0OWD0`TRP`!C0M%L00$+#
M`5]P599`09$BD0%;`!.0`K5K`F6;NUH3%`L0`#IP%"5I:!#B3B`,(19;&<\;
M8HV@>_<Q0PHP4-,+(6];R&RE!#WF;).UQ-,6Q-)&"3.F(<[:GAG@,%<Y.A)%
M.O1B.Z\E4:_EC%0!:N?7<C5&.[8#K:BS,>VR?RL%"H9(";]7.*#L?T-FJJ]<
M@$<&,V(`4\]%/_^0Q?;+N3]ZQ0GA04@@QGG`!+2!`2U@`EO@`>N%$E/PE2O2
M57),'18YMF7;0?`8%#G`!+=G%*%"`3'0P052PI3,_Q4?.PG`QQ4T64-K(*=/
MQ+>.H`#8)]`8FY[W#"&6;`DL=FPKJ\G?PLG&4#M%8I<:DB]7"0H&90:+A"YB
MB8O84Y7'DU`9S0N\8PV).#U2PIEF<!XRM8I^P3UV81>_*E$8PP$BM3PJ:SLT
M!UKK^QM0>CXMZ)D`X<SS"\V8&Z1H`H],(%X3X`/DM<U;``4%H`!(\`7;`G7$
MU)MSG`5YQ@(JP$SKK!$#]LZX!PD,UBIFF-!VV'8KJ6F+8$X#4I(C1-`K/$TO
M``-L72`OX`6T@&NB"-&;#+-"O$4EY0:R4);Y4F2'Z4CG<33;R!=Q&=.%PWU%
M%H"\,SG:I](4HPD<,`2H`O_3%NU&(Y);LS,D&&,[0S(`HK9/C\L;8O@!8;(F
M2"V:B:?%0>4^0%@!#5`G3PW56K/->+!Z.Y`"0]*JD^5L7<75U'&F&*D">'#!
M"\`$MO=P9QTA<M4J-+G7C%!H/0F(.C!8%'<6W\U6'\S=CT`!3G`,EP%U@@U&
M$CT+J"(]RU-T%TV)170TVC`$,=`$]0*"0Q"7"U7?FG#9P-BX!K-1HR"8&F,P
M05?@=DF5(T+@%Y52BR@D9F`P>_/:O`%XY8H.M2V:TLR.+0,S8;S;$V`1T[$_
M"[#-+F`!.P`%O_0&QMTB#1TUS#T2$PP`>-#C`9P1#3N21[$5"Y:\_,P6Z$T(
M*@S_E15+2,\+-B4;R6^CR$G>MR1`#:)8N.^=:X3=R4N'8@L3@9@Q4)55*F6@
M+=C""PK8@0NSYK9261!8&&B$+D?R"[[0@19("98CYTC""^>A@'+^:3_],O5[
MV[B]Q8<.XDI]&Y-7`14Q$OM37L\1!@W`!$(`!7$6#N:A"W'@5;%;`&<*`&6+
M!S^>`P-6%-8=376;3=J-T-R=SXCPO)36!U8Q36V3I"\7PVVSZ[PN`@W@Z\#^
MZP(@`L,N`%I`[!Z9[,FN!<;.[%K@[,\>[=(^[<_>L4[@USFBY5O.65V^Y:-%
M"TIIS#8[Z-^XZ.>8Z.@PXND8XN_`OW:2`T:($1HAA/3*_P!D'`$O<01!%!F>
M'B@C$>H'"X_Q8109\,=%T19QU;:/0+=5_LA&MU:S'G+VW"HPZL;;C@P#T%8+
MG2.8W($7S^UB]*#7\-#^I.U-U_'&P.&_0;3JGHY&+;1`^QL3@1P3D!$%$.E"
MR,U9@(1(4`09IP#U>0EW<`?I$;!=B,X=Q'!'D>IL2R`9I_".@#<44.4>T!@)
MX*<]P'RA<MYZTQD3$PR(T7)VD"X4,[B*,3'JE"XF3PLBT`A]W0VX=LD?#_+0
MUKW>^DBSL#>90--#+.Z8QC>VYF^6L`K'`&I%IO+$L8YJ8N[S^_(^:^@(`;HD
MD1'+85Y371U(T'.;\P2+DR3$-/\'$9P"8[NF\!'D(VGP#@LA`A`#4S_(:XW>
M"J!U.*2'K$+E$!)DUW`#UE`$K8`7*25%?;!VJ"`)I'`V&L(A2NP-&4\(&T\-
M`L/0:S_W.=+MLQ`DB:$-&4Y;W#<Z]O(LME-K=U&4:XDDVJ"R.$V4IJPQW(<B
MY8\(131CB'$[PE64N[6?VN`H,L4!SF@-H``(#G\)`0$<(2$1?XLA17N/D)&2
MDY23&R<;E942$IJ>GZ"AE)RBI::GF*>16'FM>1,%L04Y%14+#P<F`!:P*PAW
MBW]V>&F%P8MW50@(7;)080`F!S@+M0(7V!<Z.MD7?-_@X>+@/0(QX^CB'08=
MZ>[O\-__/2'!#DSA"GU$'N/K[?'A!AP;2)!@A`$)^A0)$**/G2(""4`\1N##
MC0`$;F0(L8;`F@!V;A0<25#$MQ=*2(XDD*!@`D'!"*B<2;.FS9LC$WY(Z`B2
MBB(D0PP@,#1$A@!_AAX-D$'FGYV*!F18],',H`A6.#B(<-0,UP!#M2HR.L#!
MH3\<8A!`FI3#0:91.119&^+#VC\Q$EC9^$?1HA@.!$9(\`%F"#M;0UCQ^Z>1
M*E,G'DN(_+BRY3V7+FNN-./&C$FI'KMZ):N`C%JW6D1Q$>9*+!E5@`4;UJ#$
ML2_*9*Q8X6;"%0M;3$1I\:#:@FXZZG0#F`Z(`.;B-/R#3AV=_P*G?S(T^-:@
M3Q]^Z0SHH,X69[`!'P*L&1!!_9\B[0?T*9]T`$0[?1QDZ$-HS0?&YB7%AQ->
MF$>`'06Q=$P"=F`7X(,01CA('SLI%,E/02'UP0`QA(#400,4@MU7C;$5@2!I
M#:!B#'Q]<)1;`]BAR%$"Z?4'43&P98>*$410$8<9*,+!`(L-8$9>'L;`GE,Q
MG,408QFH^`$BC#FV626AJ4+*E5QZDEF7FPG1QPT8B"')"9V<$H`KL!3@@0<-
MH/:`:BYL`44LOE3QQ2)F#"``$%!`(4"(7XR0VPJQ=#%&&"Y(0TTU.623W'+5
MA=,#"\]5YT^EG'Y#`WTQ]-#=#=N]8__`"]`)!&$`?<0P1``WQ!##'VL4\<%\
MPJ@(:P;K<="'&?LE$,&&<T$H0$H&)N#@,0[`Y("R+4DH[;0TZ<33A4"-A$A2
MA'"`E"$>TO>!6\)R0)51@RF6%E]?!:!7D`X8@E0"]`Q)6#!<J?A4`D,\M.Y@
M@^4UP)!;!1.#5PX4-NLB$1SB8@!5]@3F(UD^]N7$&%.<2<:/#7&#0BI(LF4I
M(K32I@<7T"`G#E'HPDL!*\B`P`A3U!-#"A!`D,(`7MPQ`@*Z(5K`%1JHX<)P
MQ4&*S:39=&HI"S1P*I[3E2H`$UH*?%PJ/#H8P!Q]YB5T0P@.C$G/1!&L858,
M/7KG7;#!]D'_SQI3/0AV30?.1(""!%Q-[=^`+V*MA3YEZQ*""0Q0[Q_Q(F5N
M,$8-^7B)ABQ2B!D)M!1"`EH-D,0@BJ/%.(*-Q1A,4YGG.I6'4PTYU50!F"%4
MM-FA97K=H&_$(#V,2`SFR)9=S'&7EVP\O"DS%#'F9Y$`#THKLN2!#1*V+,"R
M"2Y8X!K,L(VPK``Y^QB'H3+H)LNB;4B`=#451'J!!I12[2D+X%4WM?S,><#[
M(O(I`-TV%(B'JB!4A!L(XE:"6`A:;C!`EB1@/03H48\JLB&UK2I`RJ()WQS@
MP&4%[H-AH]"U"@?"$IIP6E;Z79HV4[SC@0E-+CS%K2AD)D@(SQ-K_XK%!/*`
ML@&@!@>Y8$T6\"2S*HQ@(`YH@`*```0M&`IH,I#%;[;@`D[@H#BUB)1RFH8_
M<-"`!3W@5->Z")#KQ,1_U'F!!N)Q-YSP!2V\"\'C#K$L.=[(&#>R`D@BU$:5
M9+`FSWI)M&AWPD*29'"^PY`A%\E(;3EB`Y"\T@96R*6*Q?`R$C#>)4'A,87,
M8(88N&$E:*##5J3LAT$,PQC:%#,$&'$@8&%)!(00A$.=SP(`:)0$J(`&]J&A
M#MRX0!C)"`YS#+,Z+_`:,=WQJ6,\H7[,V90[!MC(0O8Q)WZS2;0XN+=J-A*1
MV)J6%0B`.V^:DR".N00E*R/**\%PDYJ9#/\\0R&&&;I-(>V,!!7R$(M6H"P'
M"[A%*E>)IU:.X(@+6D091A``%D!1:!,X`C2$<P`Q!(%]08C?,OD@`!9TJ@-K
MW*AU'!2!8T93.NZXYCFGI5(D9M,F@LA<(#VX4L"!DX0C,0MB,H`@_2`(<4D)
M$@$XT)2:GM,QSK,893*6U'F:HJE.E00&/G;/4%HR$@+@YP[S0`/JI09[6S@"
M/XGHRH/6;"!3&`$9AC"`(9@O%E-L5!2FH8(@H`$$(+B&247:T;U&DQTB%8<"
M]H>6K4%'FN,8H`-(=[H,M,0.&8AL@[:%EI>*;A$-6A`B)G<ZM#B6(I&UK.5@
M2DB</*M9@E"044'_>--'*+(@B8A2E'8TI+XD):@1$(J'5NO-1I#B$E<-13Z[
M!-6H@F*XQMV#"M9058U5HF1-B$$>&D`+Z^T!K&*5Q6YD-K,1W,$I!)B"SQC:
M!"0,80A"*P`8@"/7`Q`'#1D`0068,)W`?J.OG`)I?3>:CP\,)%120]4XV!)!
M:H*E$0X(5WKTR)0(CL2_?Z%=!J8T8?HX($=<@3!5GD22EBY"M1%2K;(XR%N;
MBI!PKC4<.C_D(0^%3A%(04A>VL/9$A>R+IWXTCI%$=R)%3>YFD"N<>M)U2%`
MXJI4:``+?)`')E0/B-@+@_9*$S/N'O3*XSVH,H3P`29X68<2S:4)A-,"_QR`
M(`AV18)]Q_'%J`4XL`V@*F'M@,9*G2JQ##O(,8HZ+L'!V$-ZQ)VWW&7;"`>C
M"(^K"'880C:\P.1>CMZ(5(1B+@^#.,0C=H`9$&-C:K56N2H>R+8$8@<G"<NV
M,LZ`6+K9Z1-:B3*35$6/,29D(%MBULGMS)A"1K%U/H$%!?!!==%P/0"HLDT%
M;659KZQE92Q#!$#8C9<GD`(+0*-1%*4"%@)J5[_:]XO>>/,RX^RVCAPC`-"D
MSC;$41XK4)-Q_PF&BP;QGWC-IC`R>HK!HO608\2`L3X21H_J8>X/V&$(6G#`
MV.[54I;0-$`.G^F-6AVAP=T`!#@M2&1+5Q1]@?]%(!B)@!V49!0K4-R$5LHQ
M)DZ`ZTBT?&(MM'4I7NY4,2B/3#4DA1C$,`/I^D!.+0"K!<#@@](0D;O+J(+2
MG8V`'$1``0Q(@0)VL`,%".`(P-F"F*,PR4<M(`A=6#.;H=:I^W71`\R])V'Q
MXK0Q@F.`>(R)L.JE8<L)Y2L;"H!_&9,7P:EX"-%R\(T2P*)@0(P]:;&*2&RK
MTDM32T$]+>W)M7EB.%0`#2F>O.8=^0AUQGH/2_5$)HU+<YD[U_12_5@1<GX"
M/."!!0WX>4"AO`N"^J#H5*XRTI<!Q?+Y@`$Y@\(."I`%%DAY"UIW@0O4<()I
M8+$"01B/V,/A`4QU*IG_9V?N#AJ@1`4`J#&&U90R^5`>H9Q;)NY."F&W(B.O
M@&41YM*P79[UE+HEC''Z,7D`!'&4SO:%`$,@"(L'8R1Q(`\78H+3+)L70A52
M!""P`&@@!J^U@`N80A3S")D429KP8\<3<ZCW">_T@8\P`\SE&1C(`D\0`RSP
M9*NQ!6.P/07``#N`>]JE>]Q5/D&#*#L``4?0`!,`!A+%`LB'?+ET`E&P/M6`
M!&XW??(`!`!6*4O8*3U`!/I@4@U03GCA;<R13.TP0.9W6V`Q85.!$.<F%B$`
M&%,2`+,",4(A$$=A%EB1"#$V`%H@!W^@AD%B!W;`8FKH:'\P@'=X2`<H+0<B
M_WD4Z$<GY@@J$%#)`UL,H1*+I3=6$`))<!BD8Q;'4&.!(UI_8X&@MP><L`$<
ML&,V1(KS5'JFQX')-4,?8":OQP(8@`8/H`)#L`NPX`-$L$2!`@135X,VF(.E
MH43;QP`64(QAP`)`8&UA\`-J,&;3$%`5H&8@Q83AT%%NIBDAU2D[T`=KX%??
MET14XP^*]6B8552#,!"/8P?C=".J%@ST<HED2$Y%112F(SB-IEKM>(["(#B!
MZ!*#2(B<>(@ND8BN%5"AEA2&$"(W(A,DQCC]QVJPQ2&(L'\.N9"W50].<34P
M`9$6V9&,DQU(P9$Q\9$0XHF3D4DLEPF:U'FA!V0A"/]/8C`$-50*JFA<G50$
M*B`"3&!7+-`">"`$68!L!:``.`,!#$"#N;<;Z:5#"J``4&`!0"`$80`-3"25
M%E`'1K!UCQ*-)P%8U,@'7R0`Z080^L4I^;`&8\D'5S@0`Y"6AV4`'@8X&Z&)
M9B`BTM)&"BB0G=9:8H`&:\"/-Z)8$Q8B[)%@;&,($5!XC:$8^[-;@RER`Y.8
M1R$L$L$>=VB92G(BB:DJPI(CBY$OAQD#4*$D_6<7'Z`DEOD@GMAYG1`9-U1K
M\%238((!WO$!O"8*L!E5-N<=.W!Y5B`&+`!U1:>4B-(`.=,`1A<+2"D+$Y`%
M6#>51`@`6B>$+)`"$:`%;,#_7F2&16KV#67YE1R%*>%&'2A%'=WQ'=,T$`10
M9T[S;H;T</]H$W?S$GK9:I^&(;`B"(&1'2'2?Y'%%&X8AHGP88EY#(ZI(4."
M$68P)#NA;T;R,$&"",*R<4&5'?[E%0.3&&IH+B12&%%!60&RFIB!@:_9DJEH
MBASS253U`3,PDY^0FU'U`99W"QA`!(`"`4H$!TKY>TV)G!/PHVV"G,R9!XNB
M=;FD?-BC?`#`1$```5``!&-@;;DT'-`(38A%C>5@?=51G@`Q*N$G#@U08R%P
MC9T2`UH0`EJ0IFJZIFS:IF[ZIG"JIH@PIW1:IW9:IV!#?_6YEP3I$W_I`";W
M%TXA_Q4?<@A1`I)&HA\$"B`'VA=#,A3Z(16"<8=;$4@<0"[T`F$#TQC^56!F
M"!8<6IH$,"L<,'*,A1,B>F0F:J*H!Z-<(@93Y1TX!PFPB@',<R8KB7I.)E`N
MP(LYPP`Y$#3!)@1%IP`-<`0I@*Q9P`12%PM9$`94A&TM<X33BCTL`'Q'H#/7
MBGQ'TP(!91+B0`$:(&#@^45`8&?2!P\>H#7Q\'U9B#_K!I[]0%KTNJ=\VH#A
M-!!SD",=<A8=,FD'MA2\$UD4FAWU0@__)B],\2U'$H@,822*DQ?_BEDA4@@'
MYBY$D18)6A;M81<@)Q3Q"5N^(PFBA(I.Y:I=,@3*,R:V^O\3;K-Z)&NR,>1#
M7Q4&$[`#R-H`0",T/L`">;!>T+D%$<``P)<"#``$>-!>!^!>+="T2]LRV`,`
M42>#42F$1T,-%>"6=_:5E\("9&<_Y)H.:-<'[.D.83H0VM%%\2JOX.`$-_$L
M_^AX]KI:]WF0<[M:J8HEN2J"IU=S%B&K]T0AE""SPR-?`F4"K3&4,P@$.Y!>
M>9",UX9M+O`$10D$>^!>.'!%#["YG)NY+7``+7,&#'"M0K`&:Z``5'0`#]`^
M[Q"%8G<I'B``9/H_XS<./?`Q9?L.[MF67:1&;/L-%%`@-^%P!6B(=[M2=7N\
MG9:WDS!Z?*NWR24&0K"R]W0#T"O_<XOX5782;#ZP71^`>Q,`!-(IK4N;"U`P
M!D<P!%<44.S;O@&UN4"T`4^0M$+0E-[G*D)0#>#J#MA'C1UU#M=7N^#@`=M(
M!%IH':?Z!V;PI0&\7TSHMLE"4\2KO+R5O"L1LA0Q+1B<(/!90LS;/(2;7"\9
M5<D3N!O(JO!DN+A@`EOP,C`#43$P`4_)`NVEN9N+!@KP`/]1"SS<PZC1O@\@
M`9_;,A&`,]8)`R40`3O@EN$PC;_+*;XK#E1HP-7!!`01`&[6`UJ\Q5K\)E[\
MQ1Y``V$\QI]"`PT`)W#"?6J\QFS<QFRL`&D9O`\RP0NRP11\0A8,6X%Z$^YI
M'CL2(48Q_Q+N>AZ`/+*5$&LA;%RR.3PJ6ILM.@HH>CQBL+I?M0LP:'1*AK0L
M@`?.!XT]O``YD`-(,,I($,HY@`:A[,-H8%>RB`.?VZ00\`%"D`0\L",BT``'
MS`?K0`,"T,N^_,O`',S"/,S$7,S"K`7`_`$?X,NX+`X>L)DJ$LU#H9[2/`!/
M0)C7;+':;+%ZU,V,5J=N$%E$-<ZJ=JGF;,Y2D#GJG#ENP,`O@&D.0I]W7,%]
MFGG:TB--P2$8P2%S@"/YK"2&ER-)H6>+8`5*0DZY)9%N(=!G.$`I,E1*HD<<
MQ!#>TAA#`M!1,00<0!18(1>::!,?C!E+M<@R1](<`ZM4-:LQZ_]4*H!*+C,&
MR>FLP,$",Z`"+/!\<+`A(B"[%]``U]`-0)TR,5#*%U4]M_``#5"_0-`$3:``
M&N`'?C!R"C"[31P`4'W56)W56KW57-W57OW57#T`>^4!<5F?:3L./"`M\OQ'
M\TRW]0QJ&<(M<O1O(N=B;N$A#8L6:U@P%)D4Y`06^1=!0=(7$S8DO/,P["$[
M*O(2[9$($40`FV,77\$!52$0>U?(+]J2)@UDF\TQ*BNKMKK2FR0&3?`!O&IL
M1_"C1O>#[&73>(`!`94#(D`#04T#"A#4N'T!!M`%3)#*M0`'15`-'Z``+!`#
M"A``/`#5)*"&9XP.(@#67,T#R>T'T@W_U3Q``DI@!]6MU1I``E?=W<HMW=,-
MW5@MULY<U@21,.8BF@B26Z*IS'U'$>V!68B&%LJ\=CC!`5_ZSM/R$GG9UFZ-
MKQF'3O2`F.^7`:Z2(PS!%/VX6X<Q*U80+8ZCD'9$)"#''E:@!8_S`9,X8:"#
M$%O!:+'4L2$>`)-H;Y==DH8<">V$LD#FXL.C`G^K$$9F0R@,)C,P`PNP1!C0
MXZ@-!D*I7BEP;5%@TUZ+!A^0V]B0Y$HN3'RPM?)``R*`!$P@`K1@$L[A`0I0
M`EA-`EH0`<T,#L]-WEE=`C=`W12"YAIP3Q\PWB2@/&O0W;=R`\D=`VY#YN4]
MUNA-$.GQ'GW0_Q1]0-D-(^ALV0<"P1%_WA=$PA\0<M;A0`)_(\\`'N`C9,^P
MU2$/&R2NHSB2:M@+XP!#@."CVAC1@ND5O2.:[B*:&26/D]"ZI2N%T-@5D3E2
MX:&)`R\?LB\J[@D]!N/&Y8&F)[TK6P0RR9)[VR48X)1'P`4I$)4M?`1`7@"P
M<`75-E'#,0-#@`$L4+K&^M-`303>'M3?L+;IT`-7W@,Q``2B(@#C#=4:$`.W
M'$9CCN?6?0,:4`<W<`,D4`)KX`=]\`0\L.96#=4P$`$DL`8Y0N<]X@?_40)<
M3N]^8-[4M^=L.1@W<!"\\A2#7J"GXQ](H22)_@=E8!\!J1+ZK0Y_H_^GDT[I
M*`;7*X&)@Z"`,+]8#)D`5O%A&_V1K`;B$W<CYM(WF24,-Y^`@E-;#<)-)"E3
M?<,XB?:1_VT>>8MKP/Z\N/J\GUV;-93(H8`&R7Z<>+`%4H:LTCX!-5",5+2=
M"]#C0I"";G,#5>?MQHW;X."Z[D`]:F8.%-`#6[[5,&#<#0#Q5YT>`C`L)2`K
M_CX`=5`"??#P5ZT%-U`'`]#OZN$'-V"Z`T_O$C_`%&^@'Y%AEAD!;G,B"48V
M+@+0:!'RE%T8C1Y^R$*(AOCT*V](>5Q-^`TAA("W*PYZQ\[B6N]4O9^B,\ZB
MNA\`*M#CMZH97(\!@`(%#""=%G`$T$_MSWG_]NZ%TWV``6!!!%18;CL@`"(0
M`T!]3.M`'4Z&!![@A&'4``/0[E?-`Y</\>SQ`27`(?+O[T3`7%8-`TF@!5`-
M"`-$`1IK,41K?A%:`WTD?I"1DI.1`SU\F)@>`7^=GI^@H0XW1%8$-Q]6?Q\Q
M=D41!!E%AH9%'QE_''VX=@ZGG*'!H1P-F7P=!,+*P00)S,[+T=+3U-76UZ$)
M?1_:17O?>RI%V.3EYN?7(=[@X!(;[/#Q)^_Q]?;W^/GX[OK]_O][Q&"XT:?/
M#0Q:!!`LN`Y@O`<5,&#8(42%$!9A+!S9N-%"F"TNHD1I\6!!A04B;MR@P2))
MG0L7&BA84]!@D@8P_WO0:.#AF`9C0(-F$E$A1P\!+"[U4!"`DM.G3^NHY"&U
M#P\_?;3PN!'#3P`B'WAH\#/@AA^J`3Z0T$""1Y^Q4)]:`KKIW(==J_"R^F/G
M!C"^5M)&L)-+;XP0?4*4RU`LDQ)T?PC820;*`33(F#-KEJ:-6Y^&X<:9XZ"J
MW``'N"H3!D5`<:B_GC(0'J`XA(,(`08$H-PI0`8"N5T'X!`L1`Q/ZN))D.!P
MGL/GT.V=8!Z]^C\,10K>&-"H)@;K*BI40'-1A0D7&"U8&-,Q#``7)D:6%"]"
M09\=%UB6>`DSOP*"&BA`@P<[:->``4(E")0("^1``Q`Q7,)'`P/`%=>%DO]H
ML(T?&IJ%55,E]%%")'6L40(1$<#01QV#^+%=61@Z-9<Q=9DSP`?)W.C`'[KU
M!@LH`926P`?$91#!!P.,UM@QD#7#FR?-;";EE%-VU@T[XBP3@A6]9&!;`)P`
MQ]T?(?R%VI>X)#`<`442$$$($3@0&&6YD;E;)P[H1A@'`3AS7`9W_N$`)Q%$
M\(>A'W02`W&=V/%!"`DHEFA:J0GJVVVED0G:'AM0Y]!RUH7ZJ:>BE@H/%GD0
M4=`'`=1$1!X"4/'<#.(M\``.!YP'P!89`<&`>NZ%=`!))E4P``T$T0`34A=D
MT%]_"I000Q\T%;2&%4PHJ*TF.51``U(]8=)`4S'_QA@#N;I!$@-<W$D20`1/
M/%)"!`)`HD$,ZY8[R8R9U$CEO\LPEHD3D$WVS"<$^`+PP@P+8^5G6(I6W`!&
M.IH!EP&4">@`5H2009)_9!"#D1^'0.0`=B090P)OCDR;:V5J;*B@@^$X6`0)
M#)&R'3,?ZH!Q;OY11)D__F'&N<(9"EQJ;G)`<025)@?.!B=4!ZJI6-MS==:E
M!I#'UWGLL`9N!*T!M@@!R-J/"B8ML`"N4>C**PN^AN&>"28,6Y))2%Q@'Q'/
M,LM??S0\T6I-VQ%!Q+;;>M"M".!FTD"^^E9N^>50#7`!7;`US#`QF7B!3@)/
MLN9,`JCWXOGJ##\,6I;"_ZS\QW!)&A>!%4GR&0-W(&>000)%<)=QH2G_L3+4
M`QQ]2R=>@IRHI:MPH%C&Y^Y>-&ZM@;E*GK@4&L$`$1S7R<P4=Y+`<0G@?IG4
MG%9M'=5<QS^U^_)')P+8^"NP@Q4T[8!_'B+`0C["<Q);M2!N)M@5W1C`!0@P
M@`%-R!L.YE,4F*A*`<^Z`+,RH(.<\"$&2M"?0=)"+<9MJP=(J`#D6$`#8U`(
M<S",H;X&8``=T*ASU2``972(#1Z&HG36$!@?"':.!.Q(&@ZP3#(2QKHF2LEU
M$5.&QEJ1I#AE+`!VP)UO[``,W[G)#A[KTYMJQC(.C$PV,P-4QUB&)T+EZ38\
MX_^3FCR1EL@4P1G/^\`1[2`RVMVF-TS#F6\&L+YUP$]4AZQ?UA*I2']@@0;_
M^Y\(W%`M(C3@?P$0X*EBT"VWW>H`<7/!KK8`!"A```(IP$/>B-4V92%K)1G4
M(`LN4`<;8H()BJ``A2)0$")(R(0*2B$3D-+"?L4`!I/0`#(E08(Z*"$2,(`+
M5:["(7M14RS)K(.%(J&$1W#(FY"@"CAEU(,:]@L8,0B?:VCV/<KTR$V#X=%E
M/G$#3]#&$WGRWFHZ$30R]<R>./0$Z#H@.G,DD1J2<89E2.?$AD(&BN"`73!^
M5B8'$,=I(>#`H-8$)LJ@SE*J<!HN`!6"U@!'30$XXJ#_?I92?A)',1\C#"Y"
M0$A\NJ8TKN'C)SC@C)AV@J>>4!-,>2,U^B'2.8W$&E*3B@\!1/*I>:@#$Q9R
M`P5(,@#@",`:Q',2-.#@@.=QP1;&2LHCI(`!\6$E?6!B'PS&4I87,"<?%."'
M$M!`!R^@@:JHM21@"H4H2$"*`(#2`$F4@!41B`0)$-N4`:2S*1&8EQ_J,`!(
M1!82DHW$D=[5%4E$X!%NH:8?%GLCT5)B+CI`$!]J]$]`'NHWFPT9I%(*&PZL
MI@^>.!=`?[H&W@"*9L]#SAHXD<0,^.(W(2L&$<MAF1SRL+E'=*ATL0'1;T@T
M%!\+TG2W.XWD+-54WV6J=<(K_]YO8.%^4'VJ#FPPDYHHP`>7!)L``K`#.-3*
M@`@4)5FWP``6X`$(>V@!#MPF'B;`Y)4">.NRDF).!?"`!S%0;0\:4*T=-*`!
M`_+K@HHB6&.(0!)$N,IG(5&'Q)(@L97E`1'\\`$6G]B;EZUK8B$!@QFS>$2:
M'6T$UB!:+8PH-V*I0QUX4`)V24@'-JP+R[@3W8\9Z;C:0^G'+O.][_T!M^/+
M5'`/M4XL$N!<6UXR)]()OO`9BA@$-4>4KJ$PTND0B-R-\R>J&QHYVQD;ZB!O
MJ?1<WN:0JKQ.36]Z=="%K^VU)M0BP@[J>]\''#"4`!CE%B*-MW#L33PQ@-9]
M%)P)EO]X(+4-J(,?!DO8:B%N<1K&!`T:)`*Z#242/"@"))ZPS#IT=L4<PHTB
MWE4''"L"QYGU`^5D#.NFQ*!$HHW!54I<@C64.`)U*,)8^/4"#="`$Y'R)W+.
MA;/>`(,#&<!H*UCFNR+8`<O&6^>6>]2;V67TGZ?IT6$.E8PU))<$:IYG#GTQ
MF<DP],X`I_-U39<`1@'<SB:CA_RVUN?H,#RI5$"OH-/;A4)_;2:*6T@?[%M`
M1X,2;R[0[Z0!@+>1X``-Q>I;?U2%DU@"10`1>H$6FA*`<!EC*3M0W!INL(94
M=SH'"WA0#'KRX7"VV"O+Y`&28G!T#:2%!,TD@;)U<V)@VWC_V'4XNE?$TI4B
M)/LJ-9:LCQ4A:GX=HP38WI$#[-V)#Q"F3K.#30R.1H"GZ8:0-Z#,FSP1)T\L
M+S*<0-*.4^.H&]UB[S,;1P:TD&\X3R.)3A)4=`\>9X%+;!@4(^02YQDE'FX^
M83MRTD'_P-"$+7'-3!R]Z76X(R-&!O+Z9AC[ZO?PAH]*O%28N.[S0`,#0%4F
MXT'#&CZ9WTB/]3TE%S"!*V!@PAG$Y4+Q]`LJ&T(3_M+G/7@<,>L%"1(D0MC4
MA#H/7BQJLF,V`,<\=@RT``GT1P+MD=A=C@V/BDJ,15J23<*(CDV6ZZ^6$S0U
M.W_R98JA6W$75*J0)`-``!]@!L#C_R:[P0%KL%%F8#*D`SYQ5R8"I325(F^*
MD7BR50Z1=PX*$R4&0WG<97G*\"X9L'00*#X02#&<0$A((GBK<"/@(R:M@'XC
MQ2HX@R3&<2Y&<B-PDAOO<AO@XU@&US"S1WM_9GL`47M<XS6[IWL>8''_,P&=
M)`0,@`&/IBN[$FG(%P4',$'%D@,95"!NY4$*`G-U0"[9XG.IEGTJA!2=95D!
M4&)GH0$:\`$PX'[0QB)7\6+J!P.')60?4&1YN%C[<5@\,',:8&-^P&.3M1;'
M!&W2X@=C!VW]QSF=`#YS=RBD4R@@0R9=Y@RZ,5.%@@L.P'010!S`L2-PTDX\
M`B:743QUA_\<TX,+(&,H7D(.(TB"240Z";!/*#A=*B@,(C6#)G,C9C`^B_);
M?7(<24(HLT,F0Y*$?_%;M'$<>?0C;\()*?.*AF(%1I0I3+@I]<-(4`@0[)@U
M@5:%NF<#=1!)W6))0.!`3(<'(3=*[P$?9'AR9YA!#=!+"I!@)E0"+,!]`5!,
M<JAA3%`!2,`"3<!,0.8'=H!,&C``)0!:`_`$U*1,9W$N]L(=<-%KHR4MY)(;
M0B8)6B`O\I(O2B!J&K!L5V%V_\<Z'"`]H@`FSW@.OTA=CM=#R>!OKW>,TI6,
MP<`G'\,C3<DHL<`S@/)EY\,CUV@HM5.5EK&-5=24<<*``Z!1CV+_"GHT'.5H
M1"4UE)O1A(I$-0K7CO_@EEP3<?)8ESK@`?C320K00$?``*HD<I$&D&5(016P
M!@J`81:$:'W05T)!`0;P`C`73HSYD"84D2QPAS)T(1J@!$\@(T26F9UX0ZPS
ME<6Q3N80E-;@>IO!4,2HED@),$KY0U!3&P+X%P$P!+L1/K1UC8I1.R&#&N%3
M@;'!"E8P**07/ASP93<";CS"'4X3,G(0"\R9C@W'9W")#T8E*JA2E]SI!C;P
M-=U20"F`2G\I:2`!'X-YAH?6!XJFF`5A<T+QF.(2"0'P`I29:B)`'J`9(QWI
M%)\)FCCI`13C.P1:H`9ZH`B:H`JZH`RJ_Z`9PV:3MQD)8XROV42QN5U-*0P9
M(S(`QY:-))?7&9?6"1"YQYTFZ@9XR54+4`0,P(419'S'!Y!J%70:U%[N61.3
MF0E(E@D*X$UY:)_WZ5<BD`,E4*1&>J1(FJ1*NJ1,VJ1.JJ01X'\3=F$7AC94
M>J58FJ5:NJ5<VJ5=:J4-(`(A,*81&@W-]2\.<((5ZD07.EU,I`QV0*%QYJ%)
M-1TA"A`CV@_Q:*+<V04@<%]%@`-1@`=%$&E"\!$@D584A(:QM)Z(EJ-\L*.2
MLTP:T`"I%:1^Y0$FT6K^9T(=H`$=0)D%TG.8RC@=H%JEFJH*<JH=L%S6<*;_
MXIIK"IO;<"41=?]YD8$Z'S6KRR"KYT"G226%=RH=3_@/>\JG=3D!0?"G"X`&
MCA8W+```+*``QZ>HRY=@&80LKJ)Q5=4`UW>J0$$#2:!9D8JJJIH@CE,!,9`4
M/O>IH>IS]G$#\'FN05%M]'JOF?"ICW$-:\:K_CH-%QHIN%$I_PH*Q0DPP!JL
MV3FL]R"L^%"BR,JG$8D&06`K<#,$0B`$"G`$.\`"%4$LXN$@;[6>&+03ZVF8
M'F"O0-$#=UAS/O&N^'ISW1(![.IS&@"D?E60?3"O,9NO!@"S/9NJ_X90L5>P
M1CMGM0HQMQH,*U-W4&-/NU.;3AL"/#,8N(,;`^M8IN!8"TAF7$0FYH/_+[N1
M3BPS=V8$"^A7BNET&SAC&QP0/B&SMB+S)T,@/M:0L$GUC@Q;#PY;#]L9L7S*
M52`0!)^$-TTPGJ?DER`KD0JFLP:Q!O@A(1[0`(?F%PK`LW>H!$+0$^`:M,:0
M0DU0LZDFG\"DLZCFN4#AKJB+J2\@&;YJ/J][M&NJ@@%P`]&U,N4#,FR2`4U@
M!\?!18K!`8GB)A3SG(<Q@Q8E,F:`E3S23\^94H8"-=GE98]R&8DBO>=B!K=0
M)K85)+J1G+?PH'>KC@T'HGM[#WI;#\<*N/(8D;6"!A+0`A]G`D)P!`ZD`F9X
M$LJB8#31<C!!`=&G`"%0+3=@81)"5_&'`4#0_P.JN[I$L0`LP+,F9`#FJB`>
M@#BK&Y\XF\$^MZ^JV:MJ*KLB;#Y)^SKC8$:\@;O$`3(\0U//F2?$,23CXQO/
M.01;PB-O2U-_Q`E!`@S%,XVK,*:_`2?&54?CPV4>8QN/$@)2@#2[\2[".Z9%
MJR7D6[X+>[[PD+[@0)?LRZ?AZ38+,`,G(!+0F@(*D`(8,!\BV[@&L;\7T*F9
M\+,T8*,&86$(#`F-<!$TP*H93!1HP$)R**D6;&I]P,%!0;J&K&%S5J:@,+0C
M/,)M:CRH\SW?]CV)4CU+UHUO4KPJTXQV%R?,:P>]]5.L,G=#0":.U3RM@+5\
M%[>T49RY@3.X<2Y@$O\GNM%WX\NP>;JWYGLJ71RQ*MJLCC8/(O$!,X`'V"$>
M*J=@VHJM;ZP@H'IS#;`#&F<A&F(0+!#!<H6Z-'`2"RF'*BL4/:!Q!>&0B5RN
MYPQ,KBHH4TQZC/S(1AO).S1/OK!$J[%F!^5YD5$FT%#/D?'/"5"*3@,-'G5$
MJCFTE)'/L&L^`.U1L8L<50R%N\RP>@NQO\R=[EM`%ML"=!`%^(L#$F$2(CM+
M;U4@^,&&0H%7Z#K-*R()V;&8Q+3-GMO-.?#-[?H30=$#H]H#'C"Y$LS!@IS.
M"K*OGP"K1?W.\%RPD3PE=K"$P;"`^$2PQXBW#=>W6&RG6771R!J>&OT`7HW_
M`U8@!GLS!`N`!/M+TAD4K\ZL(#*-KN32?@6A`#W0`PMYJ:NKJ0N`+P"<:@V<
M":KB2T*=(.$<V$%14*P1PJ.7U(^\U(HM>Q'=CE9]ODAET5I=EURET9[D-LMJ
M$A\P!,^"UIJVF/VA("]0P0ER%)*@!(_:`Q!BUZCK`2>!+P\9S>)B$#]-V)U+
MV,;P`LHP@OW:V"+,V/8$"J7X"1EE/H('&\89&=]S'+EAM[T!/A:UMGSQ/#&`
MC@U%U;:GQ5B\!\M!A97-G5R-V6#L-H.[`$SP!$!P8*#M-P6QUH)MV@K"?I(@
M`-.\$IC`+#^[NMF7UQ$LA_(9K[>MVWVMVT3-#)-A_]3`+;O"72:U4[S<$-!I
M\KV]X0Q?1GH48P4X0GJ]&30MA1PA<YM&,[:3LG?3I=W;?<7=_0T2@(7A+8_C
M?5\$EG(OP1+*\@39O+_V(=HPL:H:L-<FQ'V1(`!*\4LL(0"T[;GIBA1PS#@P
MT`4%`:FZ;0Q)3MB&K0S%N.#PS-@9<S395D4>SD;#\8ETQ#/8"-UF5)6^PQHQ
MX`#6W7:=H($G_MC7R=U[FWL>X'LO#N.7?1)^?ME!IP,OP2S9#`1/X-Y]`-]"
MD=O`5'214*GB#`0LH-Y-?JYTV&I$7NE"T0#?(^53;@R(+-3K_`P/K>4HR-AA
M.3NWD4Z'(KS<820APRBEB/\R,U.5/Q4!9O!'5(LP3TL^1^QNVX7B4-C+*PXV
M-J#G>ZY[,=[GM>+&&G`!"QGM`K#C_MOD!6Y"=]Q]"G#:"SD`I.:Y=(@4V:SI
M-T<0`2#?GW[(&WS.HW[8I6[JE,?83G8[81F]+),RK?BVJ_&V@'(<.$.#1;G$
MQI,RL<!W:V0%@,(HSW/#<[[B[##1[2AQ7U./R3YQR][GR]P?S[Z0`C#'[]T?
ME8[3J=8`SR0)`R#!=/T@`6!+J(L$>2T`,&]"'M`_/I'NC!/4B7SEP>#(_!3"
M\/Z:PNTED]$Q18(ZOF$IQN4)P-M&+U6427##:O)2R*$%7`+LS-,H[>PYP@Z7
M$-__<!(/-AI0\8)V\2'KS!FD`5HP2]0.\FP-M#E;?H\.J>)>3BP?M-D7[0/N
MU^PI(9\*Y#:?TNCNN1T0#1\\9^_^\TE9PE%T9TB-@EL/EY'=<.`=22@J]D_5
M`,Q>8!Z@8#!1!T_`2XG.]@D2ZAJV"93P[=KR`C#0Q^AM0J,:%%7^]ZD;^#U[
MX-D`1*Z+^+PJW+H/&8\/^<7:CI,?21-@`'AI^9%TV3G@`P6P^9R?'SB^!M6N
M(#B?:I@)":B?^K2OJA200B*P+0(N%+$O^YDPV*NK\T>]\X??^PTE<*CP`?`?
M__(___1?__9___B?__J___P/"!^"@X0?11\;>XJ+C(V._X^0D9*.&R>3EYB7
M`GF<G9Z=75V?HZ2EIJ83!:H>%ZVNKPI]?4(LKGRWN+DZ.KF]OK]\3'[#Q'4-
MP+X=&AW(S<Z_(A5(R`VR'L@&O,_;W-W)!LS>XKDO?^;GYPX.Z.@$"01_!.H)
MZ^SV]_CY^OO\_?[_`/<EZ/-A8!%&8F8H7,BPH<.'$"-&'%*A@L2+&!T&R!A1
MQ8E$F4**#%EII,E)`4Y]"J6RI4M2JE1->/6*Q@Y9.RX`B7&A60<#XWHH8#)4
M001B2",4)<ITZ=(83IM*C4IUJE1!2GOTJM;G6#,#+\:)'9M+63BRW)S@<Z?/
M'0$[\A($G$NWKMV[=P<6['/PI/]?OV(65%#Q-^3'PHHD2$#,.%,ED(U%;GK)
MR8,.RIA/Q8Q)LU6#&WW6"'`UX`D%8"]@B.TQ`*GKU[!CRYY-FW8=K;@\R/+J
M3(=JM,"]P0@;W!F)>VS[N9/KKA[>Y]"C2\^GUV#DZY`"#\;N2'%D[]S#*SHL
M/M+DS#8,9%[O*=7F`JQ@R>JCP-42"BR2G,7U<RSKVJ_Q4,<P&FC@!PEU"%A'
M'3"0X!J"/`P#(3$%`@A;'4C@YL$:?>S0S0M`%2?B5\2-V$L'R,GECQEVS/.'
M`_!,)^.,-`)4'5_EB8=&!2"4!UYD)>6('7E"+B(">YW4@61F[KTWDV>@S==`
M*[CUP$+_"?LI0]9_%A+#0Q\:?'D#"27T40=?'Q!A)H5]1-!'"1K<$,$-)?"P
MQ@=W=HE4'17DT$,/H"D@CI8F%IJ+`2$:RH=:[+P5XS_RF*-BC916:NF-?15Y
MW0,5H!%>D-B!JBEB1`IYWI(:+$E93!.TVFI\3$0Y'T^XW>(!"QF<M<R6K>DY
M#!$!E'##&C`,L,:7`?CQ9:]^:)`L$3$\\8$?,42@P0<"KN'K,#!$D\--:XAE
MEJ*&[D*N%_:\,U<]ZCB@KJ7PQOL<IJ-B-T.G8EPG:JBEUGO2C^4=J6HG!M`P
M\"FI3!#?*P)P>$-]#7S0U2\TL%`'+[ORNBVU$0P000P#5$L"_T$1S&E@4L<&
M0`2UVAX8P;3;WN9!13?<0%;&Y([X@@:&EL/.NP$MY^XZ0,MK]-'\T.MO9"I4
ML$"^C5F2XV-+_P4P=P(?S(D.-F@]BGMY=/99'S>,]LHU/8B`1`Y(B-"#`#$8
MH$&)_C&KI[$1:#&`(%I\*<@-!I8@B(-U?!`!#WBNT?(`@&]\VV<THS5WSB:"
M6"BCY]"#ESJ2QH/TYZ#_3)!U53<6V`(S,-:O>*N7CLF^D67M=1XLS<Z)*F'7
MI"9]G?'A`1(5!=\G'P+@@2AP7/IZ9A\"RL(#LGY$0`2"`03;6@S8#NAQ]$1$
MZ+@"AMQ0D0AHF4NYB..*R`,ZFN.EXO\[#G`0^OR?*^TZ8X(1]E?KK$-VOV-2
MNX[L;%<[K\ED81<0`&AN,*57](`"T1">\&B@@R<(P'(:V];(ID6"&Q1!67U(
ME@;ZP*P1SFD`<9H3@\B6IYB%A@4[($(.*D`#M!SO?,7YR7[(@J)T3.HN[J)'
M$.E'1'G9[W^%X92G3L(_'RT&B8;Q7V$&:+L\>$`]6CO@*W:7$YK\:882%-X`
M>+&3G65P6V$BD/?2Z`<EG&P8`O(>#^JDK`)5R(4-8,$U^#!#\I$%@S@,SN2`
M@SEWR4@=D6I?$1<IHR-"T2]*-(D$I#BJJST2$E1#S*FJV`D;7&9@,LE=`CG4
M!YXDT!5:`5[_\!8@F."A@6=\H$`,!-"?U=AM8[C,Y84$!00!W*('?42+&0,9
M'+``YSCQ^&%TF.,B1CI3.HZ\I$F:]C3#/+%T$@B@-"-A2<EPTA094%4H71&+
M#M'`%0)@`0N`0`,PLI*53JL(&H*PQUOL)'W>2)XN][G/V_#A`BS(!?#\.!9\
M$G,L.DC4.'J8'!H-[9D0A4XTMRD2%;`2:M=\Q`8R6CK84901)^!H2%+R35.D
MZB438$+P?%"`">2.!KNK3V<2B`$68("517BG8!9`AASX@@6^Q!DWN$2F`'B/
M&&2"8[`(A,)A#,@/=&S64R44@!B4X#5:<)"`7%,'H\[&GWQ@0:WX_S!0M!CT
MH.-(Z%C4XBA*)4"9$8UK0";ZT9#DCP.2R.8C,UG71G03)255B0&ZU@DFD`*,
MPG-I*\JYAG/VCJP560`&A,``-,"S`D%8`$%S,<L>&+,;7/I`'30@!`=)Z&7#
M^(`&2G"4:4WK"4\5[3"2$`,*%:$$9"J":5W6K`_8K00#4`(1["`;L`K`E[E0
M*1.`,TBTB@60WE#"'XHFU^HRDJY]Q00:R-"C2&@3B1[MJUY'&MB6&,`#G`"C
M83N!6.&)X`(VP<E,JR28(A"A`4"``!`:L(8%!,&R8\6%E7R9#="VA@3)HM91
M(R"`:6F@5]US+0^.DMJG:H'"?ECJ,"*08/\_%,L/'Q"`W6(0(0N6(``=8^U5
M_0!6*_E"I=.0W`Z=^R%8=H,";K&NCIV)W>Q*HA(@J,`#]K`!_X7W?TVDZ)$;
M0=+RJB04*ET`13C1@%5*D`9<$<U\<:%2IRU``1"`0`H^4-,F+*">OP""6-6Z
M#7W6`<,$XJ"#`:?B`3S/01^`P6QKN^&CLI88<'*JW2BL!9#5-@*X70/A:J5'
M7T0C0S94*(V[H<-N.(&Z.\XTZ'KL8^_N(<@@^,@UDWP_4DMSR8K`@I-?T@4!
M,($%@LF##R+[SE5*K`]$<"Q->H'8!<#A#1"``H]`T`06U+`9Z>P!FYV1/,$I
MP377&H;*7O;&`;S_^0,DD*T?"DV,"#Q;VGSVPQ.(\>%N#Z,$($L6B?U0A`B!
ME7C([86W@&.^27OCK,C0@',TS>_ZC0Y'G3;)1S8`@J=)[;L4_6M=FZCJ5;LD
MCT]@01ZZ_,X'U+H"<)`%$6;:DUST0'@+4`H<&C"`((O``VJ.-\6,?8$Z/(-+
M*(8-:<]]H`\.(P8:P+FU8Y#@:,V13'PF`1%&BUL,U\%N3;7J``2@8#\HFL6U
MNA4P:."T8X]EF/;VQF>;H8-]]_OK1OQWI@(^DA.(@4=4V(.ID:CPC[:."@Y_
M20-B4+$\S!`.#W@`#G!@V8ID7..="?`MV@L'>7Z@`@2M&-V143$6X*$._S/V
M>&MX(*=J\4`+"8YV]%"L!3@>10`HYH$&H!6#[A&=!"7;V[AA"UQR]^HH,/A`
M`+`]`'5'J-U0SX58@>&!8/)0`Z?)>C>:^XL7P!7LR'>KV,G.1"!7@`R4K"NJ
MMQG21C0\[BZ)`0N:0`96*D`,43A`"RQ>D?ET:-?`Z++P0!`$2/?B`MJWNL?7
M>5QP($.?M>'!;I6PQJ,^CT))("%'-0!:H`&[!1LD<%2Q\6[PU@PJY2>_%WG"
M!PS+U@L@(EW)EX&5PFG,!PF3M`=!$`2I0W;C18+7!'?81QD/&`!%D`(8L!#D
M!P>RTD47('BY,#,21`:;Y0N*AV:W`%3&AF^_=/]+_.0:2:`%*^8:H/=&N<2`
M+M8,WN*#XB!4$\AUVE`6!D`!Z**!7#@C'-B!'B@!8O!?S#=]TJ17UY>"+E$1
M'P`%808!1Q`!."`82-`*-*``1%`?-N@+'L`$:V-MW-!X\M<#-%!/6R=Y19B(
MN,2`825_OP!,B&=#=%.%R(!U?*`EF-.%EI(!G-B)GI@!\G-=RP>&(Q$D5$`&
M2Q1P9GA)E:"&+T%QDY4"8B8$+=!W6R8.]M<-/8@-5RA@'3,`P!B,PCB,Q%B,
MQGB,R)B,PA@!`79<+P<\,386Q$>)J)$HX-`!6ZB)EA("^A"*YL`!`?`.`<"-
M&3``D\(!<A$"`?`'ZKC_CO,RBJ0(0(U`!V@`-0&W=E"$!1[@!JZH$K#(`D+`
M!4#`!4U`?G7H0&)!A8&H3HZ("Q5(C;]``3#`#+%P`U+8#$_X#-[2D-WPD!!Y
M(LNP#!2`3-JXC=V(#MS8,0X0`AFPCN[(`1&0`2$0`N#X(N[H/O`8CY>`<%1`
MC_ISC]&W30UG`TK2CZ1`<0OP`'CP`4(@!D*P`T%6`6;3"F-QB.-0,4!PD1[Y
MD;F@`0)`-KS1#;NW#3C(D=RPE5QYB1S0`12`@25IDOG@C>90>P,`CE45`]QH
M#E;0DAS@``/P!^8H43FID]X5E"<``MT5<&V'1&F8!X-EE)ZP2DGY`#.``2V`
M_P,6QWX'V7%B895C(8C)H)!I27+2(Q8TH'+/\(`\)&EIR0=@T99O&2]YB0]R
MF0%_$`$.D`%6X`;K^)?FP)(LF0`!0``QL$R#29B.D&0G@`9#9H)UU9B<<%Z0
MF0>2F91[MW</T'=H4`=4B5"]"!P4D$X\<2*LR94>4#.UMQH!Y0T/>)';L#,2
M2(F[0`$HT"BQ22,L^8F?B`[!6(XQ0`"U%P!V8`=_L)<.\#%V4)."N1=CAYR-
M8&H20(8DB'!(U&2C4$`I6&6TQIS7B9D6)Q@YH`,V-@XO\)W%08CK)']"2(D>
ML#MM4I[/8&SBX`&"L8.4EHM<.9].D(TO<GSWB1>S>?\/<NDY\1`CC](.1[J@
MI..@?A64W5%P94BAK@.=*R$**3AKM&:=UYEWET4^*]H,EF@HZ00$M5)I7-D#
M+BH+`@"CR`8$00&-!26:P@<BL(D.AO2C,A*D]C"D]/.%';B8?M5]/^EC?'4_
M%FH*%(1],[13K*1WV(D#16!9.X4;9LH-M40Y;P-4>_03DUB%-Y%K#>`!#=`#
M7_J(ZSD.&UF5)IIU.K0^=NJC>'H7>LH.?#H_?DIV&V42&R"HN"JE]7*HIY`>
MJZ:A7B9E&-"A>P<$7=H+TX@,I6HBF1IOGIEU%2F%S]H+63D695F5G3II9D&2
MF=,.BA2K=9&?^MF)/':<A+G_BI2`BLW9:87J+\"J$OM87KW&2LPY`RR`F63V
M`2D`/H<@>/7V%?%)+@D$5%HQL%E7#18)#)RJBZCI#;\C#0C%IL3$J3QZ#CF6
M.4E*K@`QJ^@PI!Q```0PDV\1`,Y!`/(CDS;I=75QJX3JJYDP!VB0F)V&C]<Q
MKRZ!1;:34B!7<=?I>!B07V$V9C9Z"P76#'**0ST0?WR`E@?%%6'Y"SC*;&,Y
M%@^XA\X`732F`9EH#_*P#D/DL>5ZDN=@!T40/P.0`0`JG.<`C'90>R%@CKZ)
MDPS*I$0FLR$A`6B0BIT&J#FK*@4S.^I7K!SZJ)AI4VX(`7`0C<7'IE5+8Q1`
M`SM!_P-T:F\TL!O;D+3/,$O`00.L9)9;&[DX1`$=``,HD+'WP$P]ZK)DNP\@
M>PYRF0`#X``!`(Q^B9?F(),#0``E(YR^V[%S`;-]A;.30`<@4(_.J2F;Q!Y=
M@%X#0ZS%.IG(NJ48\*__^@QABK3=.FE8>0%+FS,;0A\=N:H\>*I;,D/+M5"D
M2RX44`-Z``,[JAP)`!?N(@_"^[KX$+O?R`ZU"P\MV9OF('L<%@)Q6XX1H*0`
MAYS&>PD24'"#FEV`^Q=4BB08NA[WVJA[UP(<S,'8:7&'@`&"L`V5ZIKF:V\H
M>@'M*[X<H@!:^[C;@+YHT9X+-9&4\[[P&[\H`*[]L`X-I?^__1`";S7$1)P`
M0UJ[ZA@#<:N.;\4!&1`#Y3@`ZJB."MR@]<*NA1D>$;H=JJBW?Z&S2W+!+Y'!
MUMG!9GR9F%EK"Z!.[@F2X5"BK5DQ-!"^T/JISP5\SB``HBL.5%<!;:RT!3L6
M[ZL'A$S(*&``;OD//OP.;^6Z0(R29IL.DF(&\0`7)!L/E&Q(*IN_<Z6N18+%
M'NBDB+$!F66SV07*EX`%5*0UEH$9&9QW.,#!!S#+X2=^E_FAK;1<%1.QO\"I
ME]N:MZ).O%PH:(IK?^P3*WP+`#4B$[N^N-B]XX##A5S(A_RU_A"V.0:KC\R.
MD5Q$Q,L8J-P=(A4J9-`IO2K*(@'_QEHCK"V1P1S:`K0<!;4<?K=\<=$(4#'P
MPK?P$[_1FK>03ND$S2(2"VMPS,Y0JHTV(M"HSU1[PMM@NCD\S88\D:IK(_#@
M%H[\R/S[![4:.M],*I!1">/\8R--SGUKCS[6P(Y`!:M<11Y@I9[0`)V@2L6:
M=[(LSS@MS[-\`'LGJ9'5C$!UT!K`N:TYIG'CT,!1D7MLJ=/ZS\-,%E1W9B1J
ML<`@S1(]S8?\`A5M(SVZ'-M\#S3)`6(]UF-MFZ)XMTL3)"7Q@?)8+QG`2LRG
MTHM0P=]T!75`6)S``C+]RK%\`"J`!R80V(*-T_7<2CEPD5:2S]C`#$1]IL>5
ML%0]%@P[_[62T[T58RB]%XGBL#/!UPP48-57+=&JD<AUT1QO,:Y?_9OMLMKM
MTM&;YLE"4F2+@<7A7!C(NP`1+%XE'0DL[8K/ZPD8D`-P`+0<+,\FX`(LX`+'
M/=A14-C!\\>[_`LXP[7^S`<@$LCBP%\38R(*BPN+1\PPQM#DN4.?70/F'=&A
M?=7+0-IW@=$DJ\UDN]%R.8Y2;`6]&P\!8`7@.+=^&0!F;9QHC4WCL0?9A,YJ
MYSKTR,5_N]N.@`4&TX^#6V62M0,:?`#&[0(N``!X````@.&!3<^X/#[/H!.*
MC0N12]W^?*G!<9[D6R[EN<R*XBWB718BV0'FG=XX/LT3:<WM#?\/,()I&MW-
M0Q".#F`&,;`.3OP'5068`V`%(<#)=/'1C5$)'W$8>BO7C;'%[^IC)3@)S:N&
M7:`%%7`(0O"O&'#F@9WA`!`&8;`%++`%'B[/X_>A%?'4O@#0W-O+=$R-U_H,
M+=HA.8/BGAOC"W#8OO#9$'W>YZW#.=[HA#P<V$@C;P7EKRO?&OL!=I#`MFN;
MG%B@<ULM_GV350Q%;"VS6/X=0;;EIZRWO3V=*L5^<$"T<!@!Q[WF%J``4)`"
M%O#FRFT"S<UWEP6!-Z9]W=V5V$V))1P4:D($,WYU(ZK,,EP<B-X#K+0$-^[H
MA:P!*(#MZ0WI6STOE%[IY^J)Z)#`');_`$ZN#D(<`E9`G.JHH`"^I*66MP1N
M2:=^'1&Z`,H+K_RCSG&'6.R'`0P09D*0X6%@`5#0``K04F#``AP>V#Q-YWU"
M`YW=#26`L,[:U%SYL&-Q$WU@T,%Q5LXX(ATPS4N0`PM``]RNXS"P\CK."ZZ:
MVO)BZ9F3`?30Z03JQ.Z0`03*B>%N([!]Q2=@Y03N/VR]5YE53?S^""V=@N[$
M2BH0`-BK`%M@`?OE`SL`!3O@`_B%!\HM?A)/0YSY(3#0`VKVQQK/E6F/#.74
M!TN-/D)E)<WN#.A=R#-T`2X_T7E_R(LB\T=#\XLDY5I<]$6V"!-\Q:B(VUT,
M&?[N<#1=X1CP_P1G``1"``19$`,[((L0\`8*``1N[NOC=UF(5X.#DBB[O(<4
M4.RMJ?K48'Z"0DQ$+0!N&AQU7\AC$`,5,`!YKP<HT/+<SO<\[O>4`OC>'/1+
M\T3:E*MUE>`C>+.)\.5JV&O,"<]1X/4_8`0IP`(^$`,^0`1AQ@!C$`8`@`$F
M$/&7=9"#\NRRE-!4"Q2$6-VW`+6^P!7SX2$'M75R#QRU+]$#!0AZ@H.$A8,H
M,(:**!H4'5Y_D9*3E)66EYB9FIN<G9Z<(9D<GZ2E"7T?IT5[K*VNK["QLK.O
M&R<2)ZVVM+R]OKQT(!4/O\7&Q71=><O,S<[/T-'2S#D5%0L+#S@M4?\F+@!A
M%CI=/BSE"E`**4!;)D)X.&@+UA4Y%Q<]?/K[_/U\'08Z^*-`@X6`?/[XO##0
M@P6-A!`C2IQ(4=_"BC3Z]"&RYD:?&Q5#AM1A8)\``2('UE!D2$`%)"QCZF&$
M0J:>DH]*Z=S)LZ=/32%&"!U*-,//HY%.I>JSZIA38Q)TY7I*]>D)86BJ:BT6
M($\79=/"B@W;@!XV;0>ZN=AB(<65`C8F,/%1@(B/*PJ$N%#!0,@#;-86T+B7
MDH\&@1![`&'A`>(+#041%IY,>=_CB1[6]%'`KW'ESQ?U,:9,P68AES!-&X)1
M4U&-PWR4()U-N_;1H$1S&Y448$``!Q$&.(C_-"!&`@XQ`A"($6/X;*6JMDJ7
MM6NZ]5D2@BQ`(^;Z=2PBF-$`.[9\>29FL[4XX`V<!3`3"LBWH26&_#P6MA!A
MP``"_P_S5#`882+!-E%!!R4$D``Q4/#9@RD!A)@_F6TF&80/O@"#/@*P,%EI
MJA%RP0(Y+!'B(:P9\II`LMGFXHLP8H);;D/M%LDH$80P0"A_V)$!`2%$\(=O
M&4@1`&W0,>7==1Q$M>23K&2'37=04M65,UWH8-Z6TZ`7V`+;J+5%&&[)9V8!
M$^#APP0IA`&`"Q&\`0$$95DCPCT7I!202(MYUD\'&CP!!(:$3@3HA/OTL,-&
MA1)Z*!\LY"D2B"<._S)BB94*HD%K@M2PIQ,QABKJBS/2.(*-D0000@89!&`4
MJW]8$<,?`<3`@0,#((E*=%56E8L$3O9ZW09DR*."L,50$1XT-FC)Y;/4?(D&
M#NQYPQ9\9YZ9!PL6A.&""5&TD$(*$'Q@S0!XZJE#80A>N(\!3Z#4Z+S\`/0"
M/ST0L9&?]%8F(0T-AK12IH2,D<,"%Q"<HAZ>WIO3J!!'W%,`50001,476UP%
MCZD:]5L((1"00`@.A!"#&3NN>N1SNRJ)[#$G;!#E5"]+MP$=:%1P;,VS8!&6
M#75`^VPUUV1#K0DFN/=6MF=>L04+`"!]``8,%*&``B3B*6E%+ZP[60\=/O_4
M3P\&X"%VO_3"<*\^"O2Q!K]H5W:80Q512O`@-51#@\(PU*##VI!(+/C@G02`
MP.&()SZ'),L-()QO0-(J7`([$M`;`;HNU13/O4@@LU2?<T[5S?*`(+HKRI:G
M@PU"ET?T=F%::P$4\3%M9A;=XH&'"0?@4`1@10RAM4@D/>@!$#'(R\\%H\4]
M;_%MW]"`\Q@:4(*'$]E]-R%(5"``P8]YS0/AY)=OB1:)IX^`&^93DN3FI\<"
M+"S5Q>^4+3G/$'_JYAG@0>MA^1):D.:"<"S-=O(!0[>B]@0\B.$O`5I`I`A4
M$8`0JB`Q@!OSW$6]!^E`"Q^97@<A!*^S061@VS/_1`PJ,(!*U6`A`@%5^V9(
MOB"H3W$T3$K+X&>_5LQ/%C'KH5.",0S1"0!:7P$@-+QTEO6TQP)CJ%T!5K`"
MIEVA6]_BW0Q8`((`"<@@2Q`)H!I%$!8`P80=XN`()].`"`1`A&M\T`8C@L(4
M&D($+PG1"TO"!QGF\(\00]\-#\>^'+Y/B*ZH'Q!#ATA?7*4"IGL9_Y!('B7F
M@8E@XH;LP"`?'U#QDV=BDYNDUH('8"``PO#>!00PJ`(AJE`=4AX?!/"$.'[&
M`QZ)@09L":'D041[=CP-B>KH&@O^(W"1<`X@EUF;`.1`!L^,)C1E0(8_'K*1
MBL1.L!K9N2!4("O"NA(`_Y-HR=>A)0K?(%,>.KD#&;B3BK?+S[>BT#L(8F``
M0;C3/;!'D3'&#6QTTP<0GO!*7F)&,SOXQYX,^C4\U.&5P`QF(6A`(A.QI`82
M.N8D$H`Y9GH4*0%PITA'*H,J4$(Y!/`-;R:W(UHI)W.\0B3-.K=-;M)"`L(@
M1I5\9LD\T,!9K1.@$].9@MJMP`<,0,`[X[F%>=83,`L8@A8T@`\^Q,"$$3&0
M\]K%AQ[$(`D%9:@_\K41A#Q*K"DYR2[Y04R)&F()![-H(6I@&,2TZ`\BZ^A'
M]]J3()"4I":51`@^X(``<,"P?RA9R6*PG!"XR@HP=5D/;<'(SLW4IMC1#G>>
M)/_.GC9+:)C<QAYDEP5V>H`!1V!``W9@IBLV%5Q/I4<..G0!V#3$01)9:`<!
MBA*O)F%M:$W(HHC@+@,`-[@3:<@%C*N/MKKUK0=+&"'H:B`__H&CC-,K7[?+
MB9#^5:1!F$1*'<#8#(0"5E804JUNE2N6:8X7&ZBL=X)XC&QB-A8;\"8XK]/9
MGN;!!@;@T@2J<19JH;.`%CB@#R+0'PBD8`=5+(!KY]D"'&`C0/9@G@#\Z<N(
M&,!K<6P7\T(`8N2R[2-PTP=S33P15M8UHL]51#6DRS`^K-BZU]6K`W;,W1YK
MPJ_?=6=@)?$X((6"`QZ;56\R0+G(\K`6EYVO?']AW_O_UH(,4[).?_V[#`.P
M;BP^(+!ZQ!0&VIG)!T-`@A`@<`0HM%:>X*HP8*R!!#PUQ`/V\@`__?$WAO*V
M(24H<7#;]K9?%H_%$5&NC1,18].,`0D+$$&-5_PPQG$4<P00F8\W?3X?R,`'
MG@;UIWTPY%0YP`Z.`U)*!^`CQZ%L``EP\BRJ;!W/:86R5IYUL19`):ULF<O+
M6)U8S&G@=";X3$=%`A*NMH,&T$6!KPT7!.FA3TGIN0?V.F-"0B/6AB2/!8<.
M;@,T`D>(A!O1_C@)'_2PL$;;I'LBX(,.O-8!$EQ"TZ?.M'8Y[6,M?/+?GRQU
M^ZY)ORA?YX=;H6^N8X$S7FOE_XC`CD87:""-.L%.DP!@2Q:D.$4J(J$)GBR`
M#W:`NZ;2LY1S%LP]+M0A%>N`!>XR9G![4!`61$JW!FV`1\H=$6ZCNQ^1$@0C
MW&V3)5@C`""^JR4XNN,$.(``RN1WC_T-\'\7DH8$K\4V/3=EIR!<.@I?^"LR
M((]>'P/B$9<XQ9\AY@=H\AM0Y'C'`6XF*%@@:N#"P;3K,:"$,$@?.HA7O=;*
MX@O$P.:U#6L'*]0'GD?$GS_GA\V!('1&$UW&+,RG/G!<"9'MV#E1E_IVJ5YU
M*@K<?%G7N@_#3I6O3\?U8H^2,'96#/"D/2SD7`83W<Z>M81A#.M$=M7--($Q
MC))W>O^?<YVWYG?LS5&ABD<K!I_P!.:/D/&;$2/.T:W<H,]$`Y<W!*1I8``\
MBL`)^\:$<Y@>>M%[5`N@CK_\?7#U&::^%JRH3M=GT80A^-__S/%_`CB`!%B`
M`Q@#!IB`"KB``]@$^@,SL\<5MS<6-*`%#9`'8G8TZ30&!R0?GR0#H$1\;?(F
M])1\`8(N:M0/?S=+\D)XD=<0-D=0MJ0O&L$H8J15Z%8#+!`&+#`&A+`IX2<(
M\`8;W;,XG?!T3N=T/.9^>Z4%""0?73`))=-10#(<',`C2V@;]U=PK!`SMO8+
M&,"$FY`!#W@,4A))M#!)$R@6+$!@;O=$9F8F'RA2\&0F>3#_!M$F9Q%T$"F8
M;A[2`PZ%@Y%G$,CS82-$5C7X$7VH("N&:"LQ!@+@@X2`")SB;N:W4!W014:X
M"5"75W@5:V+X?D]8`*5F6+,R)!P@'*Z2`780`:@B:_#5A3+SA;X0ACPQ,I&P
M*HD5`F:0!"%@!233>2N3`*XB"86%%&0X.EB&AK'P:VL8#0<S!-/"'@!@`1LG
M?-]5AV@"9^%B81%$`XLX5JP$-D\@B#_7(9%B8X+6+X36`.YX-2E&$1IP7,$%
M8S]8B<_E$DR@5;*1,U+@"9J68UD8BCGDA$\8A9,0`"LS`,MA!S$0`7;@`%;P
MBNX54_#E)%RW?ZY@BSN1`7W@`!S`_Q2TT@>G$`$1\`$W$'H1T`?7=0,#L`:Y
MX@`?P))'D8RCHQW,V`H!L"S/.&S7P`)$H`+5Z`%21$4BI50CI8T3%F=[EP-8
M)1(Q``1U<'/19V(7<F[T,F[20RB&B%SV6`CMYE84A02-*$-F``)H\(^=D(10
M%Y$$"4@&B4`(F10$("1_P`'I95ZXJ(LNLH7XY3DQ<PNL%PL<J1,AF0$#X!$)
M<)*G$&L.T`>C(`D<H!EWF2L#4`1_<`,SB8QE^!0;D`'9T`I4@'8]*1:!\0`S
MP``Q<`%R:)0RD#YT&&$2QHTHAV'A*!'DJ&[S&'D]QT=9&4*-@I4&52DP8'G!
M=`'UT(@O,/\)92`/H,B)F*.$F--^;TDX\#=_\J<%DY`C$)F*B(DK(!,K%(D4
M?BD_GF-KM#@+A:D3,/D!B1D`,'D*CA,!:Z!C11`"-)E819`K().?/F&36E$L
M("`&/%F:IGD-5@,$7*!::Y`#*_":"%`%$BJAB+-4"21/);AW3'";$D$2R#,:
MC<B;_0!#\T(#.T<O)(%;!N5<,H$($@57.>`&(%9ID2`%:(`&9N`)/.:8U%F=
M@A.7MC.7>,4!F?9T/W)=D?ET+U*>LF!KNQ!?M+">I1`!1=`'&4"E5BJ?]!EK
M3U`$:V"2'FD'U_4!$=!15N"?/0&@6G$":)`#!EH>IWD`34`N$*#_`%6`.%5`
M(X=CH050<M]R`"A';1!B3(L1`RKFFR):+]MW2Q[!&?UR&0;5`7<S="D$5PN0
M)?Q@;Y50!MN1HY_@`$[GHS,$I$PCI`.W0_4%+%&AJETG`4W@$P'@-D#R$2)#
MD@10!!_P!X@9`!_P`57Z`01`IGJ%GYPY'0'0!2#@IF]:<6[('D``!>0B!$@@
M%!OS!5,0!W<@%'LJFPI$@K%5#_'V(#(W2P;Q$/.6J/Z041#B`?J24'&CKFOT
ME39!B7>3-Q70!0:@HDI'"7>P`"#@J9Q``&XIJNU#JMEBJJB'JJD:7[9F<#<C
MI:10DHG5!T+2F+K:!QRC0R.I$9@9*VC*_Q-J2A7+@JS*NJS.X`-Q:@);``0*
M,'(*P`)5,`>](0EQ,`)W"H)FTJTN4(+*QZ$3(8AZ9D8>`*GHR@\A^C7Z0ES4
M<U8=1`$L&B*46BD=`&^(RGF4,`7;D7[J1["CBIW9:4T*>S\RXX5<"+&D$`*@
MR(IX%3*1`"OB%0IV`#)\B8LUV9E.87O,T`5!X*87:+(3@++7X';H9`$*,$70
M%`-/\`6L5`9X9;-*58<Z6X+R0&<^^WB+2JZQ%``E4+3]<+0I,5SQ2"_V,D)/
M2YSX*!,U@!XBH%7+N0ESX*]<NVD&>R:FJDR=F%BQ!G4]^A-,2@L;L*I3-A5F
M^Y8A:PR_9@-[R_\$++"L(G>:W%!`I66X"/`!._"LZZ``13`"C\M4L.6-UL`$
MA&*.^P`$`E`0BY$!G&NTZU@1T1.Z:..Y\R*OIJL:'8!'9#DA-)H)=P!)L3MU
MHRBDP>H<O7$DOG&%,=!>6ABV7@<L\D5?PTN0Q>L+:N@,'I"\,5":\6%.+8`T
MU6A4KUD%`]!@4#``VKN]L]D.O*.A7%F5#8&.5)F^@(>H%3%N:_"4'=25_2*_
MF5*<-E$#]HMSX^,)9%`!X=6_?#6[9B*D5]I1R1$R1.(;D-67"FP=,\61QUB9
M+S4)/G(C,1#%EZ.KX[DRNBJFDI``#YG%O*&KR5$)(4#&EQ#!O$":TA#_`FB@
MO,\H'VVWP;(CAQ\<!`H``6_``#%KPA,`9[TS9^%*0O28$#7'`H9:5S"L$"XX
M$>/6>&)UKOUR>2[*$A3@`22"<_O*"4-<Q$8LB@=)"<)Q(T/2*N8U"JPFQ>\E
M91MY(Q\P*PGP`:V"P'\P6)!E!Q^`:B&`'(A9EUJ;JZG",1SP`6C+J^+%G8<E
MQ@1@!3<PGI(`Q[$PFN;A`5I0Q\N;=O$!N('[O&MQ;!X(H0CPLE=S.%5@`_)1
M?-[2C5"5R!ZTOGXG`,P'OR(*KQ&A<Y:,5L()(:5K1YM<"!W@`3D0H\=EM9S@
M3:1<RG#9SA"-)@50?T/2=`%`.:T2MQ=M'+!L_Y'2D9Y[8(L[,@2ZNC)V>5TQ
M$)Y0M\NN,@#>B<PG>23&3"L<DR-$%IDE;0>Q9L:261Q&X5BUS*OM9<VO(,=C
M,0%N@`81T,U<UDE?L@T<;$"M^:`RH&S*%@%$0$5Q(4I_NG?NFQ+_G!@!]2Z+
MG*A,FQ`5XJC!!2@J"M!!^'V%0`$]4`TRR@^MNQ/>5$T.#9<3$!]]C29^;:I$
MF@!.%P!BVBH$8`:&O:13K!6X``L<F0&SP@$1X``9T+'5',6T4@1V8#D7S9!'
M^LMU*9.\P3%KH$R.161D7)<X'0DQX#&Y\@'*403#0=2LX(SE@:Q-<,$]53N`
MBPVQ`PYQ.$4>2-7O)/\#$<`$4*@#WI+"@.&4CB+#%%$0_H##G#NZ:-VNE>L\
M)`HA.AQ,]*H''3#7"Z`%QY6_I2`,F[C7HQK1M1,?"%L^O5L,O\MZD7V*0GW2
M;9NQR2Q8`>!&LW(#)_D!_7W,DL#9I2T)=AFLFBT)0^`Q1A$!HY`*NFJWL(#;
MYH&L&-"W`&0FKS.-45U4K5G<=.<#,:#<8V`$;6`"@?H2A0)Y:25+%B'=Z`J_
M[?IS9_TA;UT(F^(@W:,%,JRI/B$,K<W>Y:,%?YWD@0VVL;P5U7$+L]RV)(V+
MBTD)&0!9K=(CQ@P<P?H'N5H$F!,R$!D)$>!T5F`Y=BF3(.G$U^6*EO#:M&+_
M%`3^!V5>X;,PP:W3!0$P!!S^++YM%N>4-!J7+?_&-`NFO`UP=\#R%^#ZXI=+
M$0WQE&$MHM:M*/L2>?I<&`'M;L:ENC(<RCPA#'=@Y`4KT7YMZO%-/O/="XJ$
M</>-5^Z)RW2>MJ$`'`/@YKL<X4$R)+%^75]*IKIZA;P>`_?I4E8P"C&P!F2:
M*YC]X'%.YQ,>:W#,4UPF`B8#+5+T.NI1+0C&24RCC6?B`T10`#:W.RTP`U@F
M((TRR>RR9_L`XYP;;FW3S[RYFY,AJ3M."`[B!B`P`).LT#M!`/*@EJ1.."4P
M.PAO=PI?!TSNT?<393_$D2L]I*"779%``$PFF<G$_[9(2H4<X,;%>%U'*CF[
M`:J$/1S/J:29EEC3B3D1C.&M(P)/P-OFX=O:+EKM<2UR-XHBQP`O"P"Z\Q=H
M$`36]R#X+!+JEJZ/SILP5,G9EZA'?T+Y3@@"(0+EC7,O@$Q((?!H,.H%/S@E
M<`1B/_9D#P.3(+?[K1S`&&N(U=&2114&MP>[\,`Q8@6J8@F^\9P@:[=X7NTL
MP`3FX>$"9&#M$0[>/HIY``99``35VQ\-``0?,`,8@`$OT0/B.QE++Q*1KB"7
MSYL=X`8>H1%$4+0&0.,)X;13/P@.0@,O(8A:/QMQ<*,`^_40$_9D?_MF+PFS
M<HJL=BL@R2IP[O9/9@R#*?\5=!\C6GOQ=>L*,-]3#=`$2"`6?_[43B3H87`$
MU_B$5V!W%M#]0``$<Y("+`!!NZT/V/T949\2!5'TT`?#-"#;5:J(19NBAI+Z
M@R`0GARCKQ3$+@((4VAH4G^&AXB)BHN,C8Z/D)&2DXTE1Y>8F3"(,7^=GB%#
M7@D#&7]6II23"7T?K$5[L;*SM+4G&[6T&Q$#O;Z_P,'"P\3%Q5:(=L41,[-Y
MS]#1TM/4U<\-+$C6>04%,A45"^(/.`=1)BX`6Q9'5]WO\!-7%EOU`/<`+$<0
M4`\+%3EZL*#!IZ`!'043*ES(D(^.%PTC2E1(@T6/B!H@3MS(L>-&#S=::2G2
MIT__`X\H4W9\`4,BA1IZ8LJ<2;.FS9LT*?#QD"-'G0X+E?QQX$#5I"D+T!`P
MRK2ITZ=0$R5A0#4,5096&=1!%.%/5T]_!G"P\R?`GQ"IHBIBY:H/K%QP9TG`
M%5?6AEMU\^K=RW>/!`E-.!PB,&0O%1';$BN>U@#/`&H3F/@`-XY<N7,NMH2Q
M4&,"O'?RP*0(`\"%"W0F4BL`\@$(G`HB+GH8F%`'0I4.#>#F*("%Q(.[@ZOT
M0*3/#CX=#%R@X4&X\Y3)@2[L@+.Z]>LZ>^2HX.9V0B=>'"10VTC*(#/DTZM?
MKZJ$A??PX_]`E`%M`CL<0H0X&V(\A_'L_<'6*WW))4&!_W@5J.""<=WUE2%-
M[(788A0NUL`3CT'CF0\L5(9#"RV8@XXZ[%SAV6<39)'">UL`8$(4,$9Q0`LX
M%"%.!46(0)%OM>D&G8_/-22``!+I`&202!;40W%$7&201DE&R5`'&DC'QTO7
M9:FE3#KQ@40%6GA7T`L$B!=@(G=4`,*9;+:I7A+QQ6G!5FZNT@J!"OZUX%P,
M]NGG'AL$0)8A5C135P`5)JI8#$\$P4TWVV$P`X@'B)A:9IN!<2***8P1!FFG
M10$B#C@\@,:-.3#1W$("`.$D'R\88.5&R4FYD$!$1F2;K4'NT`<1JR8$'*^\
M)@<1!5LFBUU!7P9P)'+A`6@(4?]G<K``"&74J>VVDK@G)WQM<`O)@&XIN,&!
M#)Z`[I_LRB)I@P]Z@<&ABM:[30P@!.%#`>`\@,<,,*:&3CJ;'9'"9^]<<80%
MH*9V0*G^B/-/!4B\RA`+N19$94<;$YL0KA*]H(''NRG0QPW!*F0DR;8:\(*R
M,-_4I0@5#/`L'SS\08"T.E,;X!QJBBOTT(;`^>U[=!*]UIWE]G77GWJVRZX8
M(7TP;RXS[&?(`'%18>_7T6S*PA!5Y)!4"RK@85HZ]7SZWA@(%R#/$6%L81J,
M-$I,&1),$#11#S'XK;&L$T7'LI(Q9#PEX8=SU$`?:PC.4*R-!_D2#"C$K'E,
M,]?,>$+_0AFR,R*CGTE&!4$LI?3J;`8`Q.NPQYX$ZXF0^Q9?)[0K0>Y2_XE!
M2&X92LN#"0@_RV%@USO!IO`T@480#[00!1XLX(&'VP:+E@+SW4P`!CVEO?AP
MQ.!4$/@%%DMT`6T)43GK0E56S@?($;DO?T2/FT1K_/>K!%-,,(#!YF#6)1H`
MY&8O6$L"%IB`,A4E0*=;$^TFF)XDU.."&-Q"N`ZAC$$I8S\A&`!9,C`H]MB.
M+W>A"[N>UCO?D:055Y.%"K3VAPC58D+)V\;RY(:B`N1A0VB0U"U<0#T6L(`!
M5_AAW-Z1AQ6%X30FF!'YP($$`5S@`BFIB.2,U9#/50YPBIN._Q?[UX"0G(0C
MANM?1[`T$Q0(<(!:*N`"D/"3A;S`"XK8F>H20)0'LH<,UT(/!0?I%`MF$(,;
M-$0$"/"5`!"&``%HH!TBD);UG'`OO.L="UOHIR$`KPB%V8,8,%`$U0U`#+1`
M5`ZKL4,432!L3*#,#/!@@A^<`0^OP\82X9&%A=GM130ZU3_F2(,KIJ\C6ER(
MRY0)I?O1#R/OJYP'UM`'!:#$?FJ<R/]JXD8X+JL@X.!?0BB`QT6426>C4UV`
MTJ040KI3%88\9#T2"99/Z&P`#N@%""NIGDOF)4$M3"$G75B2(I"R)`,P1`)B
MN`<LK'(:W%O>*Z?!A.TL@!S3P\,6ZO\`A`;$H``^^.@*E@@&NOU2BC>B6#&-
M&9R*I(P/PW)(,_LG$!8$+B(QE69Q=G#,C2PSFPQAXTVZZ4V9*:DG;G@?!7+F
M"`<LI8$.K-8@IO#.JD+"=;'+*CV'`)8_<`"?9C(+*L[DS[@`=*"9'&B?AD#-
MDI3D!JJS82P>JB'F3<`#>+V`!ZZHU^4,<P'E0$<]6)`'&P3@'4Q@P@YDL(+&
M,I%A+I(1#DY%&1'P%8O.2:;*=+,RH!;$B$;\C9@.M]/@Y!2HR,J2!C)7U)ET
MB0_;<<-,^1`Z1SBP@0UTZIFDD!1!6O6W4DF'<$M#7'H&8``!X$`&>#$`4HCE
M+/Q,3UES$37_M0+JK-95$`8^X-8^F.4/&<`"+G"8/+M.8*67O2P-OB2.#PG6
M`E"80$A]8`,;K$`&,D""`G*``,9V;S2G0>G$D(#>GN)&LPD1V<W4B#$6`&$B
MG659#WP%+.%$6(U"O8X;6=O:US9KM@F,1)GT*"`"J',]YB$$<%=<-'RX&!_T
MI-UT:5'=[.X!NS;N"UO?^L`!G$`+.6QE-_*`WO3R=;WAN&@+4@.`,(S!'=V8
M+P(&((.>I(`)2,C!O@H`A2=&<;*H*K*49J,X*HW,LTH"@@`,G.`%2\ED:W@I
M;BB'X9BMML,)^9(6$*@*W8[8#B=6#U+0P#,6O],*]QCN<&/,NAG;_V5=.;XQ
MI"/=E^WVX2M<NX4J$R7DY>W5R.E%<CBB-Z(P0`'*W6BL#(:`!`3$H`$I@``7
MH+"#;F2!-%]&U0`NRV;A7$#-%XE.&M'LD5A%,TF/N\$9GV-L^65869CSYFMI
M!H+1%J2<D]B9>'96P@"9X51W,+15D_#B%S-Z=8Z^+J4-M.X%S:`(1<G`O'ZL
MJ$W=%=1&%L"71HT#%9A`,R:"AZKQN^H!("``#(!`"CXPT@E8P$4'\`<5TTNR
M'O3F`F=&CCB)C48W/R?9RP[2L$F6V@$&<(#3IMB"F<H4/8[GG`$JPZD$(VYW
M)@$/3\"YSG/^A',KS='G:C>[A5Z@A/ZA"/]KP(`6ND"A3>7AT_@^LD4O6HXG
M"`$(CTKU?0DN`P1X?0"LI@H4A,"$/#P\BA+/@67YVNLD]48+"ADYQPLWQN?0
MP(RVDKN4GKTYHA(P(09$0]UKRQ3=.K6!;"(`""HPAYH3T@JGB3QJ3D-/`H1`
MG>=4KB%"X$=+,NUV=L'QNC=)=+T,P10!>&L,F)X8T$`]ZE<4P%\#"X"KQX`)
M`R>XUW>_>R1\0`%=8`(18@"$+;P(!_]``Z_EIQP'6RPC<_?(QIT#DFH22^](
MXOL`4:"!OQ?$`PO(0<85$F*HE`G0;E)\!<C@>`HF8?+P=P$=.)&!3SB`DI!$
M2P"62];/UX)/I1?_>@&X%TU0)CO@*Y?&>I#!1*^';S1044GF7M1S%2&5`UW'
M>[O'=8SE`Q'@`SK0*FH3<?^`!&QW/\MD<>SS)-'7<;.%&\11$B$G)5PD@ZU%
M$QNV):^E'0M0=W>D%MNV+8O'?NW'.I`7?Z@Q?X?0"5SU!W:0`1F@>5;0%8(2
M(-,E>D0G4`,8%RI@"F77`,7Q`0&@`-+@='D`>WPU`)2A9%&0&0RP`[$&`1"@
M`%4PAW/(>P3G6$/&`AJD!M0S`_^P=FUG*P^A$.L3`Z]B`!ZW@L+2@BBQ)&YU
M'"1S6L*A?:W%?7&D$+$53>1$'B8F+D&`.D.X.N\G>:2(A(;0"?:D7$Y8_Q:=
M,(4FY'^R`(!9&'HJ-(NTP%6;I@`[`(9$L`//`!K/8(87$`/[EA08L&0`8`&/
MP@1PV``<\`5W,`+26`5>AU]X*#>W!@#6\P0L@`$L@`96M`2!*"6[<BN](3AT
MIHBB)1P(6!)K<#@7%AS448,X<6?5\5I>4@$A,%L40'BA^(D2%(I"DP0S\`0S
MH`(&B9`'24\#$$+XX549`$FH$``A$`.!1A[^5&.V&`M6.(!8T``!X`"^"`T-
ML`,!L%-#]G1FN&\1B`%"X`)AL`2I)@,"P`!`P`"I\`4C0(W]=8T3X"DN8@(M
M4$1#8%/C:"OIR!#KDS$BHXX0EH@283+=U0=RAO^4&H"/*4&)]"@3T694"1%+
M0=""_BB00!.0`KDM5B`P:BDPIJ@S'&!B1=&)"4!S'.!;GM<6;Z&1&\F1M3B+
M7I,'"D`*C-$%W'4#.^`9]S8DER4`,=`$&"`Q"X`!U`,%+-``/N`#*^!UE)0`
MQ_4#;9``.]F3H-%EI2$JI9(41A0`3Q!&PF%Q*P&5@.,J@W-L3@DK4,D0<-8`
M"K";"E"52%EW'%%R6UD=79D3"@&6U@8K9ZD(97F1RQD@:;F6:MF6,N9_0;>7
MN:`N>QD-(<`!#4`-.A`!CU@`-%`<)X-E_X`!ZMF-U",$;P@!0.`#73<"$7D(
M-\>-U.A?<@,%9V>:E`7_&[^&!R60@LXA$)+3$!W#&RRP*MA4FW8T?AN1/S$H
M/PT:G,.Y)<7).11!,<G9`<YYEG?06\_I)M$IG:E!G8WV>:2'G30V::5'7@K@
M`&4'438@`CL0$C=`33<`!Z]!&>HIF6)@&@"@`'`(!?)9!5^@"$E@!=PX!/IY
M!:!BFJA"8$[2&]SHFRK1*G27$N<X.(SHE-BW$&6D/YX5I@JAE1=J$R>G!S6`
MC]3F9M@VHH=@+6B0+7(:(`0Y`WJZIWOJ<T1C.VG%HO\7J$(G`-,P`#$`4=U0
M7SZP`SQ:/DDV#M1#2S!I`;`&:TA0!7:*"`E0E&,S`%O690&&?/^0`U;$$#3@
M_XT6@22KBJ#3QQ'/]*H.6J$,47W6Q''0%Q%HFJ9#)4#XV`,5('@1,99W.FB=
M=Z?D804QLJPQ0ITGAGFBPR:VTY>"J@LN2FD.-0T[$`)BJ"'P@``V`*F1^@#1
M(STFP`+)F`43L`/RR0M4I0@!H`4<D`T?97;&)Y01LP!,@#X100--8%-8N1M#
MTA`4`)P<L90><!$_Y:!Q9[`OR%/1M[#C-(^\"C,H\#D\@09N$!%.@*R+$*)H
M\*X>JQ;*RJS+VI;']5TA9!8.\`&6UPO]AY<=6:TK&FG92@T!$`'0\!G;@09S
M`)GD"B(!PS9`L"'WA0`CX`:DPT`QP`!5(`-,4`"W%O]@Y$.";><!_VJ(SS$;
M#0$#7WJP1A0#*LBP\'-LI:6($48!%%NQ,*-Q0*$=%9`!QU9^(XL(,K<`A5"W
M4%&R)@LC;8F*6Q,6#A``,>``K5AH&*FB,RNH6!AI?UD-.Y`A[]``VT$9ST.N
M'V(I!&,!62`9("4#57`'%SD`"L``*9`"#*"+'O!$HB)Q"V!9X]@#__I@ST&@
M,N4<0V)$F"6)#"NQ/0!G6.I9N[*K;(L37>(^2+``07!L'1"G>FL(*9:WS\L4
M?-NW?]M5"=60.3M)94%S=XDGBRNHX<LNCVL-$1"U(%4^$D,.-[8!YS`PFF$!
MFM(-V5`$2-H(&0`$<,@`/@#_!<87!:1:`?N*61X!.$9TH%DJMK61G"DQ&T#`
M(V-RFRL84[X29PXJ,L6K.5CI!FA`!K3IO-.K,V@0MR%L%'G*IWS:EHNT2/F4
M3W80`A'P58;[H5#A3]I9K69%K2U4OM;@`T0P&6E(=962&C^@!NJP#F.@KN]P
M7Q^`DXTP!2,@`*?;``Q@?`]S(VN'&[WAC;39$0+1)4DI'#2P9@MA)`'KH+N2
M;`@\=UAR@QFL)6VZ$"*P`'/`B,0:PF8``@L0;B4\"59@#GT;!6VI#/?!`?F4
M"A%YR#&+)[&@ES@L"^.[(#S,2@5P`VF(!A_RONF@#C!@!"EP:@+G`T)`Q1#0
M`*Q1_TD$<`=/RZZZR0*M.TQ6=)0+H69,P`(!T,4<`00$$<;%(JNU^0(E<#(3
M.G?;!$`<]L;W*,>HP\!W7,+J)X1]#`E_7"G47,THBFZP&(O7^LB2-E"33`T^
ML!T\FA31<P`C$K]0D`57T`4V\!FJA@0)IW!`X+U_,`7Y>9FW9CTM\`#@8*H$
MC!L&'`,8D`2X/!%CG*`L8Z:*Z`$1$`##C&9J:Q-NC,PV$<<;B@8,3+?13#IZ
M#,T;S0C*:@XB+2,R<@*$-&,UR\U^L<T,<K/;4+GA``?1@QGK<&JHMJCM/),7
M.`"QQ@`#L!0$H)-/.U)<9L4!3(+_[!PBT`0$O1NS(<%1XO_+*UA]3&"PV;2V
M:GK,%,TE"P%^PMH0;_G1C/")02#6((U*<''-/Y?-LY#2W.S(DJP8L92&Y#H#
M@I7.W`,/-M`%`[=[$<``?RT$21"-^=EP4`!Q57M%4E(12?"U$H$':TPR"DUL
M/4!-.Z"V4NULQ8P3&4K1%OTQX5=W'0`#-"S69%W:?6P%*H`VK+W:J^VG0Y-N
MC:O2L>#6?;%IU3#728;)YH"N#<`\C17<6W=?(Z![7F>_(Q`$']`+HED`4'H:
M^SPQ5I342#(;2<#`OS&P:J0!V(UFCM@D"9'9)(?5&O9&6XV5VH$&&8`1+&?6
MBQ!![HT(5@`B]%W?+8"RR+5Y^9W_`%V1`8BZR$T#%Y&\D;:=%UA@J-O`DN,0
M6"Z02P40W(RE@5R'`/EY@1B(!*Q&U$O`NBU`6?[,K[Q2$0'0W6?J,A4!5!(;
M?126,C-8.11`O#>QIF_\V0EA-DG51;4U8O&-"("$+3L^W_9=W]?["=EK!CGK
M"?6!VDV1;I"LP]P\X+&`V]6@ODEQ&43TP/J;`UF&@1FH@14NX1_`(95)#[DV
M,0V@V!7'`C;3$8/(!Q"L1O%(;":#,EU$XMFWV3%CB6_<$+'DP1'Q`H6&>#MN
M"""KY'H+Y$$.(D,>N,T%%A_``1%PK(F+EWH!Y;,XVW6!/-N@VPMNSFS8`%P`
MAQ`P!B)0_X<\V>5<1XT0CID[``3GZXV(?2-P`#DTL`2',QL#4$=%`B0"L,8>
M0`/,03+ER''Y<ZMU[C%JB^=]U]G#2>,%`9:,V+PC9F(D-NB&\+,@(+(?'0`S
M@`/=_NW>C@/(<`@K;&(__=/U9`:-_HJ4KA=P_<CAB^";3N4S+5AP4P!$"@%.
M*XW\?NIW&-P%4%]1UL10H.]`L`9X`,`25P&S#H-?U)@;^^=BHMU*(@(PO0#!
MRVP0FDWY8QQ/N7<=H.Q%98]IVA`TL[P2@6V&O$!EPD?6_@=2$*QV&<U80"HV
M?_/BC@A?-1;_40J;-Q0-">"@5Q?OCL,=B07DE=M4GLEW[1DKT/\`4"``4%`%
MTA@$_-[E`/\.`@]2\9P"36`]>.#A+U02D<TK`M$$<Q!-M:(07/M]+%D^.5#V
M(F?5AS.F[K@1P_X<,&YR6MU:SLX'U(;=A%<Z9H*X[AV]8FT%.(_SXTY!3%X+
M!5ZM-TP+\O[2ZHL&]0Z38W`B*\!?51``5#\`$2"-U:B?"#,!L;(B1'H$#*`"
MI8(!(XS4"M!6:_#09B_0*-\^&^_FS4$SXEH^.B+9XDTLTS25&2\R!6VA&4SR
M-=@0'J`F7]JQB3!B#V3X[BT("V#]>AL`I4(JEF$9C3]!CP_YA*K2-:;IB7'Q
M@&6NF:&,.NUU5#\"3``$/,E81`T:5_#_/>]A!&T`""Y`+!@,&`L5"Q@"%XT7
M/0IK?7U$#3U\F)F:FYR=GCTL34$OF!T&'9TQ`B(5K:ZO-)ZRLYZFJ+2XN9D>
M1)1$OVNQM+:ZG11ZR,G*R\S-SLHP*,_3SC44G!XY:`:R'7_?X.`)WPD.Y@3A
MZ>KK[.WN[_#Q[69H"W?R^/GZ^^E!./\``UKA1Q!>@CX?#A;9P["APX<,-YR`
M2+&BQ8L8,4J8N$=`GH\@0X9DTFK!@@</6D0QX6*+A2L%8JZ0(0,!@AP*8C!(
MH8`)D14Q@UX98R',EBTN7)B($F`(C@<+X+0:((!%HTN9&DCJLZ9!L:^;0*$!
MH:.#AEN<:&"`_U/DU:L<6,'*/2NW+J9>.^J:1?NU!K6_@)FA@!'XKZ<*V[IY
M:4<@08+&Z,85G$RY<C@"]3A8WLQ970"3H$,O"-*9\L&$?19F?"AQP^K7L&,W
MW"!!B\C;(%F57(!#)4N78X(6F$FSY@XH$""D:"#\2A8+%K8`2&IBZ8$6*JS4
M2X2$1B,@`ZZ%C32I:UR[M$!A"$+7D]H/#-RZ$H%>K@$=]75!XNK!+K%B%/A5
MV(!_#48@,]9PT@,2:+@A"P5QQ&,..7^@4]J%&()#``@5S)'AA_L$\``:4*%$
MXDD#@6-'"':0$X)F&81`@`,99)#A:0K)UM`)KNGHXX\,!6"#`;B)Y/_!!*XL
M@`8.!ZS44A@I3"#<"L31-,0'R2D@U!AAA#&=4M:U\!1H0:`A@B.-\`&$`+)H
M-<D-7N5'2PQ/@,!-)PHHT,!.,43R"A)R@J4#?H'*L@-_^<%`2BX!'NCH,RAH
M\"@RGN10009\;:*$/)(]YD"+((9JV885D"'JJ>T$46*))XV8XC<1$!##-S'(
MFD`(#H0P``$R8HAC:D">(`&0Q+Y&A0@@E=!`D7EX4("EB?#FFPL`A/&2<#)1
M60`33"@`A`(,^/"<46!&<<!U3T&%"'<PZ'!5)A>P($PG/;C)E26%<J)#*""X
M(9XF-,#!0'(I1/#6>?G2<E_"FS30QPWSUF?_P**T"#CIQ<D,)@V!"7(BPFB9
M:N($/N:4XX!CJ*9,$(>FJJSR9U"=R.JK?PSQQZQ_#)!S"#9:$<$`N_J*4(Y`
M2C!LL4A3A$5(#<00P[*W29DDB4VR5*T%46*+K0\1$!'!!`T(X268UXFI[KJ(
M,?%(#X-BPP+"G#30R\,*P)W?P@(T@0:FF[`2099_,OS5"W<R[#"<^>I0N"<6
M8^RX'M$,6(,G)(40<B;>['..`W\\YO+G\`11`6F@BQH`&F@<@OKJ:-`\*\XZ
M#U`C`3[_$0"HI?VJ6M%')YTT%0&(Q,)'>'@0DI3/[M:;DU<?`9/6V#8`A+5C
MASDF:"4Q00/"BO^+_XD`,7A/K]SEX1LHX9E4U80;?+&2)WQ2+<"$X&"AG[`'
M-_019^*$&O/X_\C0P,;^TK%-T*`"(*`8)SJP&'TTY@\.F!'G2D?!=8@N"!:J
MX(4^(YK0D.X;`0A!`!)@AQ`&@``AY$`(=)7!SN@.:1+Q'=*H@)L&L(`%#>B"
M\?(0E*FEA'G6.D*4)H`\X4S@"F`@BE&FLQ2SA<85.:"/+.RGB37I@GQT.X\'
M/&"W*2Z.#_%J0@@HUH,(P($%B(##_.@GE[T4"G]]4`#]J+B)Q@$08Y&CQN0Z
M<<!1S**!!'',!#5(R&^0`8&%+$T0.NC!1'9N:,""(4=DZ*/@%:D!4--!%_]B
MX@-HF61Y5@NB$(E(RBL,)070Z9)TE!(%,=4#;17(`1/Z@PO"\044$:,%%KNR
MQ4-18G_#@`&]8L`"/,S+`R*(01.VQT;_M*<^/9!$7MAHRSK>\8XP(,PS"J@)
M#R"F?YT8V63*X<A$S@&!+2PG03C(R`703(,O3%IK*!D;+""+6<>;@`UT8Y(E
M58U:HCR"0`<*G:(<Y4NL/,#UH,B$+G;C%-UD`2UU08.YW6`KD]`?+LPB"_!A
M@`7@I$$,FIF?9]:E![T@@D,#]1\^'..:=S10,_:HH!S8:1;B5*=.^7$')9EA
MI^MLITD^2,AXRI-']%S-TO!YO)@$070F>0`H`6K_@8$25)4`^%)UJF.N%D"%
MH;G\BAO3!P2Y8#&CDY`C+4RZ"0&`CP4)U,3;2(J>ELKE4$28:#/=V"B8QE2;
MRN!F)GJ@C2]N(G-`32P^.*"D,B@V'Y]YI61-\LX*&M5W2$VJ1>[)U(_$9`*6
M0@,93L(D)VTAH`(UJ%:7$H65J`!=)HFE%`,U,4W$(*RYX`5:XZBPRPT6"#%@
MQ4V_QR:ZHF=A<E'`P_1*UU/8T:^/B]0`:<H)!F5@%@Q\K';A,04E#7*[[6`G
M(XE*@`QD,`.<LX-F_F#>&T%R=S+,K&8=8L_.?@1Y$UC7`D!@A1;\\[15O>HJ
MN7JN%AAX"$\84RP;RC#D__*!!G.M2P-\V8<=,%<3M:4H`LO"!P]$V+AUR7`Q
M#@=,XYIB@-`%H,;T(-A,(&$![)L%"<!+8W9(`753J#$[Q-M!H@Y`5]_X\:X"
M$(`,A#`"[D4-?&5HM/DVQ)+V11Y)=I,2'B7%)58]@D$3:C:4G(0!##")&OF`
MKP9X($\*8*Y7ZE4W,K>Y$XHC:WT\0.$W8UB!N=5&'3"A"A"C)\Y7G$2)05R#
M/*;XC@*4!2O(0(M-Z?C1X(A#/:0`Z7#P6#1$?5V0=]:S/X0`9Q>Z+"6;K-EC
MV?>^,8%6M'YH@C8``,M6+<ITNHJ#5T9E3Q`X`@.`0(3M58(/.\#D%M6*"1JL
M@?\/>J)!L!L@`F+KRP#BN6U^)ORF-&>B;7+)1H,Z0(.R^MDNA!-?)QJ0/V?[
M^:79//0=:R!B32S:MYC(::4?38\%4'K>EPY-`,*AZ9QQ^@]6B(,#AB"9W+W7
MR3&D)Y3MV\,DG<0W>+@A`\!PQ-1ZJ8EG>T4ADL,`#]``DQ.F@9[,W.Q=*&":
M'<X+)`:M"3=">*6ZH'-&TXSMDR*A5!V0Z+?!K0%:>$`2YO9S!S(&6'5?;(\&
M^&(?X<T'Q,X;TJ3R4*7S329^SR$&))3=D'DFNPA\ES.BIF?"?^>14_.P`#YX
M153]6QT6A$$(,;!!`8XH:Q-<1UVN@`,<;M`$(*0`"@S_X`.;>["#-,M-`7GU
M@)EW4-'^G+D_]4)Y+2`J`"#`G**^C(`6+OP5PBZ`#%KX\,[%"M%.Z%:EH\=$
MXV1J]$=1M^8TL"DX%PC(IT.ZWO>`=`#DDR3RFO<<Z/V#'6Q4WJ^#_>!.WL/8
MB45#LY]]!6HG;=4`@(=O*<`&-LC"$2ZN4+3M':UK4``+!-#FDY.9"&3V"B9[
ML,4&1*(!RKZ$F?F`_F'0I<]OC$$`)F'A^I`D"$\P4JD'%F.U"7-3?ZDG&)+2
M>@="79CP`CWG37$E8[97@1Q"5#3V&=&R@8B`@9:%?,DW3T"R<)V%/&GG<%+U
M3T*0)U``!4T3`])A=SBP+GJW_UL9%0M;A&Q><69D)D5VAFS(EB=F)H2Z,#&@
M4%QR8@K*EC\W8&UV<7-!8$P#:!^WI%QO<GF"\U++L&(,&!@.F`F$@P3#)0OR
M5H&5MB&?]VB[%UN(T(:CX4AA-U_R%1NF9G9%%'U2Y1LF\&H*@!S*(01)\`,'
MH`*Q!0?\H7B(ES^"-H5\<!^@P'D$V!YGEE']5Q>L@`8ZQXC%(&)6>(.I]US)
M($!=2$"RL"!D8%B;4(9F.&\7I&.7E@-5ETAQ*(<]`AM+98<-1V7+PSPN(019
MHA14P`)#@`%,<`,WD%?%)@)(@`0Y\`&5.(7W\7)WDRETEC\LIPN7Z&V:6(3X
MX3"[=?^-S:2%SF!HHX@@L\`$#3(,J[B.HI-[X+5[O-<*Y+5>W\`!D0$J,Y)D
M1)-\#D%JJU%V9B<<>)@2_]02IP4$*P@$8O``'Q4`++`&'\`"F"`"JO8*LS6%
MA`,^]<%6NP".&H8!3\!TVZ@).J`%#V,)[0>)S02*RT".Y8@,7Z@)3+``UX5=
MM;>.MB<Z][9=\!B//F8%.F,[+#0``6"/$6`C0J-D_`@1_F@1]86+<Y<'J@8:
M!+D2U4$M`,`"0J`40O`!)C%^>/`!XD>1T1);KZ"2?I:1V@@6[48_L8<!`2!N
M(XD-0..1A`88+CF*,9D)'U,%EX,6/("3ZV@&2I).B=63O)?_:3>S:;+3,QQ0
M9/H824OI$,L'$218@I]U`3>W&P^G$E:I%*!I+C.X`#EP9A^P!FX0+U$15=CC
M"FNDB1U0!U1A'WC&1MF``6T@DML(1S&`BM\FCM3`>GHY"Q]C.9U@/ZHHF$_7
M72``7J(3CZ/#;XOI;S]F(R$`<$@9:B`XF0W1E`U!!0!Y:D&1!Q<P``Y'6O[5
M6ENU57=G$J5IA980!"#0!`V``096:V892W,9FU)8##5G7!X0`4-@G'.I('C!
M!]4T@$-7&,+9>GM9;*-S.8"6G,KY=.?4,H^UAHA@*6*V`/L&#C'``3%@!@XP
M`':`=5:@0IZ6G0:GE-S)&G-XBZ>&_U\>H)GGB1+IV5I6:1T*M@#D=I*$!0<1
M4`1'0`@8<`CY"2@%6@+RH@MT!&)EQ`)!,'MSB5*4@!4%N','TJ"']J`=E@-^
MQ`GVXW05NHH<LI.'"9W1"0YF@"LGPROCH**=8WR;,8N3*8*7R50T>@&Z498H
ML3Q-HJ.MI5#;40$?D#_(:"E%,#`$TP0+U0JO.9(=H`5`<`$;U7,#&`/K49O;
MB%=Z95<@!IR!P85=.@N$11:=P%%-1P($T*IENHH;@@8_I5B(*1\>2$%VRIT\
MXGR>%1,U>@%35I9+TAOG(JA=Y66NL(A\P`I1A1PI\`$S@'?S4:#IDXF3IXEY
M,X8CJ5PWP/]Y&L"I*SDI1>=77LH'-N6;3<<-,]88!?>JMM==:)"A:GJKI9.K
MDQD`.D`#4%D`CB``-YJ'*E&LYH(NA5H!QR@,'M"&))("0``%$<`"!=L*6#AZ
M56&IJ<J1%(L!9*&;QL6MX-B6),62@"%=T.6E"Y(8L_`"CG8RWV"8[OIH<Y"&
M:=J&B5"S;RB+V_FB#7%/7=`%4183Y-D(_LJ9TF)@Q7HN!>9EZ]*$,ED2#U`$
M&(`#&$`$6(!&%DFMFQ`O844!I;>->8,&>Z:)WFB7#D92HGH@>>DXY8J.88M3
M+2L9GT*G+UMCAR1U.U6K;D&OH&.O3M9\(-&S>@JT`=@(^A55*6'_8.8RL+0F
MK16@49G@28;;3P&``:Z)M9R@M9OPK=0*!!B`!I@Z@#10;KE0MFPDL@,BB@!4
MKA]3DS99(9TR#IXSMV>(.K.J4WC["D25`;+S#7;P8[8S`"?CNTFYCSJ;IS2@
M`\P2%(Y@%9"+GD?[O$YDEH8(3-'W1`LP`)2KI):;M>.7"5U;H,JT``2Z<W!D
MER2)KH4"0.GV.*H+8[EPD^.0C[+[=&6`.BY+2,_ID]().SG#`3TS*\`[O)+Y
MHIQU&S3@LR*!7V@B`)3;"G"`G@'[O&7SJ!5@B'JUF251LTDR!`*XO0LT?FQ#
MI7.IJ0LP!QR;+U:*@$Z*OOEQMN**8J[G_W,PIIN!F0[Q^QB.<;_S^U@<L*;J
M=+NNH)C\6YV>AF1%*<!+QH\R6B1#TE0%\*N.(`)6NP"<2ZS&VB1-8C:OY`KY
M$S'>I*91!%P3Z[4WA(26VP.:.CK@2C_2I!<8*R>FZRA<*CD^%Z&XD)SL^D"=
MXPY%$`$?X,>`_,>"',B$/,B&7,B(?,B*G,B,O,B.W,B0_,A(1A!UJU,9\%28
MG,E!0(^+.<DZ$P/#QRL`++>FD;/)EZ>XX0%N@&K\BB870`,+\`%>6000`+4S
M,`/&.K#HDG&M,`G,%:SR,5O@(Y>6&P-:$'$>C`EHC`:C(\*"PZUC?%@L;!=Q
M+,?C6ACE2EA36O]+[^`Y^7B_'[##(!+.!0$""Y!CE:8K+U(C1)DS`Y``NONA
MVNFB2ES`]N4&4C(!KMP('/H!?@@!4(`!.LI:.KK+K=FX?7!ARO@6#*8)58&6
M<RD``?@$SERE+!`#"#3-^7$H:P#1]G?"NN#"CD.R=&RJ-K7&F&,0$/08=B"W
MDRS.&/+2_%"_:*##,*T/?(LT2_RS;F`#^\RG)8$&0H`<1S`$`\U5!1V]-#@)
M7=0#-"`"S-0)%9O,Z>I6%/"?9WS1Y]I,WNC1N?#&=5'-DS+'VX0+##+-$`(/
M)Q-!+0W.-XTAY%P04H!(;UW*]%QJ]ORS3UP'[H(F![0;'\`3*6#4ZXG_U*UE
M8".2GY(0S6G1I-MK%M[SI%A+`<2D#9^;,-YX;(4"LG4AT@"$NGIDUBA+"S,F
M#P30(IRCQ^$@TW5M&:S-4SY<5/),#N_\*?X&0BP*F:>2TS]2A\ZGO(W`UVBR
MF5%5!$)P`%=2V%N5U*.)-DXM)_'BU:/WO0^HT8P(/NC(NF^$5@G#V038>FD;
M6+@@`NEXQ_G@JBR]#G']!W)`&?3(`>9@C]_`HN#07O&0`2W-#R34LC9-$.M=
MSN=\*G8P(S."V@/.N[U;(?(=`#>P0B=4VQ"$#BSKNX_1&!.TWPJ.#J=-RN[`
MVSH2GC,*M*ZL`W70"']-E3.`!TVB`E3`$LJM_Z-*W0H761\0)MU^]L:F0-5\
M4!44R3>!`D<9Q=BT`&AVT5=&%]XL-MY@2\PB0Q!VT*ZK'0YID`1/T`;]K0[H
MH#.MZ@#^^\[?\`&N&N$WPSE?%T'?,$$1`)EF7B$9-$AASBL?NKL:ON83)+_X
M\-HKLP"UFR$?D`'ZEP$?$`!$F0%%\`=]'@/`>Y01`,\G(^@$L`8A$`'J##0^
M<V0Q\@$A\`&/&4*[$J)@'@$<$`&X@P\>#AN^#950C"8D;J.KUAMB@`=.`IK4
M42['NL45(`*01TLI>6&T1`.Z'@M5`=+-A=)9:KD0)@`Y0`86"TT8I:R)8]V<
M8.3@#<,PB0L'%`*YD/]=^W#:;IT.!/`#3U#E[0T/(OHSF2[HP^?EACX`"2'H
MHCX$#H#HL0)",2#J/X-D:6YD`P#J`2#I%?(SX?P!,?`!)3KP^T8`@;[OGS8`
M``PT#O`SLPT/_UT04T#7&2*B%2([U\GE`;`&H0Y!`P"4D2[/,;*85D!DD4[;
M@>YI.E-D@6X%!!_HX_`SHT[J[]4[28/*3)69/^T(&>"&))*>+"#K6865U,%:
MT=L*.8!^6M%A[C=LSH9XP*9X((=).XX'PLY&WMURU(VU'B8`2!`$6@!-*75R
M1!!^@I/C8.'9*=:@Y?I@.6#"N$`!-[D9>`X.#C#EX4[E3[`.7B>4-E*4NBO_
M&>%L!8!>(0$0`X"^[\2'9"ATG466[PG0[XY>WP&0$.%\9)X6Y[K;(D:6$%K>
M[_N>#W</VWI;&7:`9)-?\IB.\*G?.41F(R@SW]>I,R+T8_.N*SYS*RT/Z.A@
MCR1TE$^N?_N@.]X))"`NGG/G'3W_RJ)%E4RRXGB`E4=Q4*MUK$^[H3M`>&8V
MA)C@?AV)?OWQ<<LF'D`0`"AM7$3^T50-"C'`!$$@`D*."1RM5_-?2Y<]]R])
M=,D`"#5\@X2%@ST+01V&C(-*?Y"1DI.4E9(?EI0$3VU)E3$)?P,A&:(<&0.A
M?Q%_I)@.`1$9,69V#I"8=J.F$0&H'`'!D1D1"<6L_P$AK"$!D+ZI'*`##@-_
M&0%6#AR9E9C<WY1!%7/@Y9:]$0,9(7\?P6NKRM,1(1]VD781U']6`>H!,6*I
MR_"!V1]?_@`2H/?!F#)VYB(EZ-.P3Y$]&T[LV<BQH\>/&ZGD&4FRI,F2$PH4
M\'"AI<N7+9%46$`&S0,<!_:P,.$"#X`M88(*W0(`@`D34:*T:/$`RH(*2!HT
M4,!'P8ZJ5JG2:.#A*I%!#7;T6.-A*Z$83W0T6LNV;=L7:MT:,O!"KMV[>`O1
M8!$C2!`:>0<IZ'.C1^##A30LDDM!C^/'D"-+GDRYLF,4&O0(<MLC1Y"Z<IU$
M'`V)E3D'3SQ1<A`AAI4,V_\")`!VZT^,5ASFQ-`WP`S`)@0@96@2@UJ,:J.`
M#1@@#)*Q`4.BM5K7&F((Y@Y80R<`,`"!&`%'FR:=B0"(!6;(E^/^QTZS2`Z"
M0ZK]AP#]2/(UY;=D'S[\_1%-5-%%&&D$TH$>!7#2@B>IM!),$%XP0`4ST:1"
M"U'@P0!/`+`0A@4@'@&B!42Y@)08,^#``@0?5,`$#0HTP,<.5%'%!Q$>2!76
M#C?0X($"AA%AF(U\],!"$G$AIB0?+VB`F`%)+BFE7'L=%X0(>35`F(Q3YM6!
M8FYU8-F89);Y&&9VY0!"E&R]H%Y$WKPIYYQTUIE)G';^808::.1)R0`11)">
MGX3_DB;@1`06N`&"!U(A`H.0YI%2`1-$"*$`%,[TP`,#//$$%!```00++&R1
MPA433)!%"A:$`8")4<P@1`H0U`J%C$)6):.-'GQ5B%AK[+"#C\)Z8`@+3QC0
MI9?**JE#L\M&RX@`+`Q`!A*&W<65M'G1Q58-9H8K;F04?+G86DR``&U;'11*
MR7CNQBNOG?#F.44%?<ZK[[Z3'&I11QDMRFA'6$0*Z:0L60I3#A0NL,`#+1R`
M!Q<0I/`&`T!`P8(/!?C@\00IN&JB&"S(RD#%4F7+;9%HK;NR(>9*^>S+*^\E
M0!`YT/PRF(R`.^[/9FX6<R,BH.$R6SSL&R<')92@1=-/_SL-==.EE.-``B%H
MP^_6W.#IISAWT&D%=]4<)%QM$,W7W7X)V)'``/=PH(HD&:@2PMRP!)1?UI!L
M4TG=W_B;*$<G"#SPHP:?-&FE"K]$`\,50BPQ"T)`P``11Q#A0P-$%+"#2FN$
M_*H)16"``1%0$#&&5SKS06T)Y[9^-&)#MSZES4_D@*7MRT)9"`4^`RU\9;'S
MX:TA1<_>2-+[CI?!726L9D<&P25`_2D)./#!+8!S[?TJ\HKCMWI8'X2U]9"D
M`LEMD!!@CS7LE[;*0N#_674,52]TSRSXL1)#095@#S<$!Y+",<I1B5.<2O+0
M.,>AH6$/BUB&7""J`>!H!YTK@O\/.N>Y,83!1*9#`P8^P#D:7-!V>X&=[7C6
MI0XHCW=YH1:I%@`8&$[)=WP`WO!V.)G-&$(#H!D$#=#@AN*M133\BM/S[!*]
M220D`+H(QBE&401C6*$8W^.:UPCE,#D-(#@#.$7\9+.^8;RG';5!Q2I8XXOV
M!2H"W+E?U:X1B>U%(@;ND48$/@"H]WUQ@!1!U($D(($#*2B!*'%0PAIX`4Q!
M4')1,`$+\"`$(+#A`YW;@0_V>(,=K,$'%ICD#!Y0A*?08`<>Z,$.PJ(RFAGI
M"4:,E@%BN:3:V3`P`@!""M&0LULNJ4F-X:$P'T-+/N@@+AY8@!ONXJ:M.0]Z
ME&CC<M+_$8$I<J`811@`_K+HS'G%80$@>),W.$"*8#1#?;:)1!M+4S5UU"=K
M`>#`-)@##%14;0A56^<JJC:=.Y:B"/PX)S\K0<!!%M(CB$/D2":EDD4V3@29
M<A@D.52J(^3!!Q_PW`T8``4%,$`!-P``'F:``3C`H0@B6"4?S**`&MH.+1=X
M&0ZYY<)B^G(M1N(+!30`@ART\J9X>0$,ACE,FQK/`)TA@U$'T0$O:'$8T'1B
M*9A3"MC\X@/T<QLWDZBO.U0@".H!:"3T$0Q8W*-^UCBC/M;'3U)$P`Z[88YL
MUEE-X:B5/J2XXS8P89!D`')`C,H(1PJFT(4ZR$$T:*``(.>P_P@>()(N`,"'
M4C"I'03`!S=00*B@,"H\'``'3X%#CCX@K!DI@$B\HU9,I:6#(.[,M4"5B\I>
M`((*N#2V<A$39HBZ0PK8Y0)^66H.X^"]9S(QFJT)A3;E9@=XAB`:?]RJONKE
M+G%(@3SCX0`'8'&W!'S@&I@0ACNBT0QSOL<,MRD&_MY:S7R`]R#-Z,4LO",,
M?4:G'0$5Q=P(&LA_!58CARPL0P_;0"9$5*(2Y-`6+'`$AL:`"7A@P0X@P`4&
M?#`*H'W*[G!+B+W<5DHO>*$L8<MAN1A`'!LN<2/$=)G,\/9GPN4#$H(@XD(\
MPGM*I(&.=\QC'C=1$OJ4KI!QP2\^#?\J(B$XZWN6(QSLU*<:!+#"+N!K#.%L
M`Q6AL&>3`W`+6-1'RNS@3GSIDX%;L,,.VRA;)@K**"O4H;"2.JR<%0;1`V\J
MP9&=[(`WQ@06G!8(#<`#AA]8`6.IF!`4X,M/#Q-B&\[LT';I@#BPM2U(\R%X
MC]$`"EX<+M^F"00D/F(6J:L>`@!HR%LE=:$(L(!\C29^WVB.),1\D+..1M;P
M"48(TF:)#%@A</T='$@*9@,=*'12<9YSA"!7H59/-+(+;K"<F1`#/S,!!43Y
M0`L<5H$40[H'U!+`HN_B0E\>T])R>0$9*I"#&Q0&TIB&C*8Y3:88BT!=:RE>
M,[\7)_MDY]__``?XJ5%-</SRRZL@.++5S&'J2M!GX-]H^&K^<!]+5)R_@$50
M0O-@``\8;'&.8RB$1/`4"#X,!QB"K&09G"HY.V@"%E!#&PY`4@VCVQ`72`(+
M@#!N=CGIID*]>5LH,(<'?N#0.JP,##9-;\IX6BY%8Q,A6,B'=G'3>8QLR8_)
MX]<_G`**7#:';';-:X*KVEU2>`I8"UYP-GN$L"9Q@PT.IA+&04A2,)')@4^>
M<@4S^`HN=U`66N4""9S@`1C@I=!A5H=P][P1LXQMHQ?/B!X4Q.8<3KIEEMYT
MR3S=+4-TP^>G7CSF95&)6;_`UM7)G(/@<3E8\T<"_!$##DRO.@Z8_P5$R%:*
M$,2`'5PFR!=A3_`MSJL,M46#PMF^5;=S),`GT0$-%N2@U#<R4R:?*(<^=`14
M!1YD%GB54AY`A@6PX,.+-Q>U'I^8&+_,EHL?2Q^(H($)^32VP2P3"H;:><>,
MGBU#]'.,0'5\8'JC-@RIMWK6P`[^TPH$<!WJL!#BQ0QA)`T.^&2K\#;HY1Y1
MY'O;I69"=G;R,@4/!`(0QWS\XGQ[L'$+T@5=D$B48GT3LG<VD6#;]W>!1RFL
M(GY,T6IDL'Z45P@U56WBUA;'PV'P=W-$T`=K8!@&8'_L]S+Y9R;[UW__MQ8>
MD`-DL!:3-P@OX`0GJ#0(F'4*V$:W45[I0/]\[L"`%,@!0^`>]3$?[#`*O9`*
M\:1K:5AV6V5\_"(.:!`V*)A%;@=]D=(%QC82#65]S-9L-X%G+@`4?S=@+R<Z
M+C!^)4<#&G`!+!"%D%8'YQ<#`L`61ZABD;=X.\"$*F,`!C`3G!@M+#8N54AO
M5]@(G3$'Q51N7F@'83A=8\A("HA>`1!>^W0<VI00[%`0_J!-QD`,P:$]Q!`/
M9"5/_@!F("A=(J@O!%""RQ>(^L)F`E!8-/""B9AUCX-]C=6(C\43C\A]@/=]
MK+(%E?A9)8<E7_($,1"$A6`DFHA^@W!NEO8EH59B@W$#AD8(.J`%[-:*4Q)O
MXK);+S:+E><91O7_`K[5`;8@9*A'AJNA7=40"@Z0-?*45]G1'E=#`!F@BV;`
M-Q27#.GQD;>0``0`D]MP"KNX-7S(-7-`(8#(C?M"0%C`@@ED`VX0@UEG8'NW
M*3B1%`K&CI)8=V!`(B8BCT_12X-@`$\0BO@H1$"@!6OACS?GE8<V&'W`)880
M8D^AD+0S3)PW3!#)"#,6D(V@`=63`#!Y@/.A77B9EWIY<02P7)5@!?NU'GK(
MDV.%:@3@AX%)F(0B.(1X;`5@`*FG=]D'22H'B4<`!CE8`%=P!$2!%#B`!E/Y
M4P9P?EE)"#-%"%TH=*?)85K2!WUP%8WP`FZP`#E0D-*B>3R$&4S76WB1_RY2
MQQ9*T&6W$).GIYC&20DW^3USH';'62C^L@9P1A(I42F9V#@T@'W-A@8HEXY^
M%XD/QC&'-0%'X"I(L6TE-VXZL(FEZ87K@HM!F)JQU9JNN09L\25/89M=PI#"
MM);"TY;(LR9X@43$^0<P*7'=U#<T(`()NJ`*VJ`T(`!ND"=T63>@0"A9$P(#
MVCS,YX?DT)QVXB]$$)W)EE@7D`$Z8"D"4'*3:8/0QGTI\6!,P`1R=@50&04'
M\`#<YFV%0"WKZ84_EX1"]VBQ10,WX)I&RGY%EP/\>!BX^6+S!C3^60C)@Q<=
M(!_$F3U74Y<V.0R(I`5V(D\.X!X82BC%04YGI/\OR<E-4O!`05"3'@IL%0&=
M<#8I,%$')YIWV'F.VQE)/+$%0'$$#982$=``+""CX"F>\&@"4@D5;B$`]]BC
MYE)CZ`:DMN,!KLD56U%IHOA`^'D8^OEB,,!_XA*E'68T5+H?,9FJ]7%Q\C(>
M;Y9`7CH)$HA5`<$*Z;`;`4$,"?$!_9`.5R17](`.5<8,`6%'?U`$L?`V@!(-
MQA`+NEJ-A'*-6[6<X_"F<@*BT3F.+Z$!=]H2B]A8?,>=CQAME.4@/D`J$;`Y
M*K&#BOJ9Y\D9+%`"/5IU'`"7Z2>`-N0!:S!_AU$'H+FDC/&IG!:+9D*JAY`#
M2W07-R:KM>&1;DHG2M3_I9205S%``.0$4,C!`680*,'P`?*$"K[0"_60#'!E
M#<](K&%4F*A0!!0X!`X1#`-@!43PL.21IM(U!;4%`F5@K>3QG'"FK3"A`W5P
M`>5HCA*%<DK9H@Q&64W)!!REF23BF3A*(0";CRS0!N['88I1BI!*@#K3`T6*
M6GE!6[85&$W:?RU6L'CA`424%P8X:_&ABVU#LW+B/!(["7E53<T@C&&TL7B$
M&V%$56O%#'6S#,^H:V8P97P5C!3'K/00#+TW+](J9'?`ICP[&MCJF'87(090
M!RJ:?7NZE`P&!DVY.0S`!4?```S``I78@Q2BHP#(`AF0M4#E+0`YKU7'M5][
M_XI-N"0&4%M5:PA3B+:10;"58;"#@`1*%:#<4)+_UCYH&@FOFCBQ.@DQ,`3;
MDP[;<TZZ>`R]H#WF!!N!0KBBL!O4P+$`@47':KZQ4$V@\%;?%2C0ZB<V.V3F
M@2]3<+GEX+.(-)V,-`!!H*)ZBF<_$0:`"GA-V3$G`P$:$X\X.I6!L1=U8*\E
M-HJK69HP\)O2LJ^Y`F(H%K#$:QFZ>;QXT1F*P+S@D#T$2J"LZB?.(P(P',,R
M+,,*Z![RQ$WURR^3BVI[4@$FJ+]_-1$AFD!TVD`,@P;BP(BA"VT,UGV4\L1R
M-@%Y<`0I``11F6%4>QC4<L&'!A>,P,7X.(K<,I"=BO\8ZE:V;#&\(3P9Q@L9
MR,L'3/`90<5P]4&7+4R_>7(-=SPO`X61;^J'UP7$&#<1<IHX*L%(DDD3H(E@
MZ>@"C[BT+3>=3YPJ8'`$"@`$`*``)M`"6(S&6@P$\*EB0EJ6^+J>HQPMITB0
MW+*<L*O&:UP93_H8;QS'%%P(+T"W8;K'>3(>,4F7OOS+OZS+@DPG.UQP<9!\
MVPC$F6LP0!LA,Y@I2`R:-\&=/\%@8R#)V#P!E1PR5NP"8B`&G8P$4L("`G#*
M2"ABH9R5YBPEK1F\A]$!&;``WO:*KUPF_/G&]Z;!*^94H]$?7"4<2S`&`3W0
M`EW0`:V`IS&8TS%\0)S#&^K_,!TZS`3:7X4,*<T,(=>9IS0!`D@+64#`8%F`
MS90",H#:*B)C`A?2R;";%Q0`BE]R:%_BGY1*>2^]+%IR`V2Y,AJ`!KOCRO4\
M)IR'SP!*;OS,D\YC)@K8EZ"0N,6!"L%:9NN@3?&AC.44`FN0`+IQIL=9S"B8
M?($LR,O,("G!0`TDF2:'!E@P`QC"$Z1RF2)]!2E0TJW2F4BA`AC`;>RV+$8B
M`$U28CM%;KI;FND<&)8ZEK9C`#R]!#\--!F<%T.$5'=!`21@G$J$U)2P#F;P
M"[!@!7=3#;(A967F#]23#,2@/:S1E^-SG`X=B'?P%&0PS/PKUD2I,#30(AK]
M,!$V_TEX@`>`E@*3G`=@$-<@$A1%82**RA2E%)K1`FXQ<`%>"T,U1:5BG)71
MK20-$+8P]+LBL-@_0P'KW`@>@`3+A!<+2YA'729)/8WT$`)N0`I>]MGJ`RB<
MO6NE+0OKG9CF/<QFL&YH\-4\&]8F4<2-LP-P@)W-A@%XH`*4)`1"H``=915P
M+==AX*>C@Q0'T(,%3B%E+"6C,M,Z$]AV,=WXZ.%L`;9](+92""XP``(#P-V=
MQIZRI85Y4=Z$6=GH?=F=G0S`\!KOC36C<`TZ3MKZT!`-`3=ONMH\N:8^K+^Q
M'>"';)U+F.%[A]N[?08#0"L08,E`("(F3105GA2?-;5%\/^Z-&,S(O[AM=R5
M^IQ^(.X6^OJ:O$//.A`$+>[B8_)Y@TT(RNM^2+35PV#9E'`*W%-FV7&E,1FS
MU&.R_Z:+VV4]J>WG$ET?Y8<&KVVM`$X2%PT32]@'!C[`Z:@&$5`K##`B$^[E
MCGP4-LK)#PP'3=!MK>-A9[XR8'P7WQV$0)07'(R63,J0<QX#=D[",//<,A8$
MJV47^Z;:$I$!RK[LS,[LMJ8>\13IW2#MD-##.]F<38[I#T+;^^J:4GY@VMEW
M+M``#!`#&$/AKV+<2:$43/'`%!(`L-DZ>SWKT0*62I+GE&?O.+7IOD(S`GL!
M9%#GO^[&^0;B<5SLZ6:M7$WMK<K_\/41P'VLF)>^0-:YK^[6!]^NQ'V'!Q\`
M`!G`X(YLW*B>ZCCPP"H:`DP`0SE%SJV#[V-;RJ5)[X-PBJYY`S1SMI$!7`(_
M\&UI2_?6!51:U,T9)\U%=D9_]'DE)_?!#L(\]`X/"0^4S-R8[?ZK,`)0I$20
M6#GRK8T5NE1P%";P`T\`]DAAHQ=>\B:?*7!P'384;BQ0!S3CGLM2W3V*[V)I
MI.X<&`*;\T$0``.O!Z1Z//D<]#SK/"=@>(A_^(J/^(.IJL'Q^+JXJL'@;R;9
ME]5#MRBX\,VY)\J'[?TUQ(:UN9?"P2V1+75VUA"3<GQZ%">@!NM.\B4/KA'5
M`'.0!&VO_TLL4-/2HON[+^R4-]AW;Z0Y/24^71DT$/"_CKQTX0$@X`8*20%O
MZ_3"00<G0/V&9_W5K_B5/FO::S:84*S?\4;7H;W>15YPU-!/#PE3`$Z8STVQ
M/2DD&B'7?>*)I3*=8;3A^OKK+@$;``@'+2TX.`]H"XD+%8PY'@TA"31\E)66
MEYB9FGP"`AY\'1H=FZ29'0:CI:J:!B^KK["QEATPJ94-?7TT#8\-D[*9%#5Z
MQ,7&Q\87(%K#R,[/T-%Z%+)N6FX]KQTD?]W>W^#AXN/DY>81WADG$G,2Z^WO
M[G0AX2$9?S%_`7_H5@-%"0;\"6'ECYT!!-`%(/!AP`=ZYB)*G/](D5_%BQ@S
MDIM3(8C&CQ@3]/D@DDB>/!,*%+C`LJ5+`3?Z[&"9S9((1HP4/7A0J,6!GS]]
MGMA@Z(&B1#@9B>!#@UX#8%`OG;(5E9*HJJM:8=TJ*Y0E7'V><KU$09JT"T&T
MF%W+EABU6#V09/CTR@G(NR`_I*.SKN^)=_'(U+N7;]\'!P,<1$BPSXH6Q0[^
MZ$4HT$YDO)@OZLW,.3.9"H([BQ9)LL^:DRI7NG39(*8"FIAZ)#VZLU!/VX94
M8$%T-*DC2@WN*1@+[)0KK*B(D])A0+ES4U=;AWTNK"TT&B#<6-^.["VLN$%J
MKE(BNCPY=-TRL'/7#IZ[OA"_$0@P`-W_@`$Q"-P?8(>>G0@Q#!$`?7\,D($_
M")FGX#?H+>A@1"!4P,&#()%64DJIK=:2=*]=(-XELQV%QDXDDL@;"$$HDI12
ME7A`V'.Q:!65C#!BPER-.!I`@VO4<0>-,G7XR)UWL#!!Q@69O$`5)791J.!F
M?V00!!9!3%EEE51B&5\X^3CI9450?BDF"`M,(69%&HPDTAJIJ:3A!0KT<4.'
M'UZ20X@B)L+;40N@D>**O]UR3P!TX5B*#CI`1:.AEKQ0"Z/*T5"?`G5B59V0
MSUR`1@C-8"H-D:\P$<0OE]QXB1->G-E9@YC9H>JKXK`*JX-E('+9K.!XH<$%
M-*AI6IL%>+`:_Q.YT$G*(C@MPN>RO:'Q&4Y(U-G`A!R(!>DFIL+R0J+72M5<
MMUCU0$0?`1PW5J>>.K,$$G,LD2XTH*XB0A!=)/EMH[AB%F:^_.;5KX,)+``"
M`?\JT5*OI;'99AXNQ7E#`["1LF(%RC*K8E)^HE'!4IBX^`<!PX&KR0OWJI*M
MR)2$LB3*JGBPADP]G!S5I>\^L\0`05Q0\S'QJC*O%I6>W,'0J?ZKD:Q&)RT1
MTDIC]H7`^1(`@PXN(5P2#1@6,$%+<885\28](#OQ;&//-JHFP743`\M):K#*
M*6Q?DES<JNQ@6DTD8X7NSL\@048)?$\##'9::()H)<P9$$?3&.W+^/_CX#@.
M.4A!@#:KP1H*X"L1+-'@@=8LV7V#"%^3<E/9J$\L0@^+MGB//G1[NW*C)=-M
M7.R:]&#W&H7R\8+;P-`<.#0"I+6W,0WLH(`"9O5<B@<#`+W)MGQ08(`./-PZ
M^3F8)1`9!Y%Y[T`($WI#``$)2$1P-^-K[XWW_3*]O4:5AR;FU&_RNKF&-'R0
M"Q.E(X4'4D?`"B"!5'/[RNOF@KM*J&P3P&L@):XG04LXK'<I2^`JCC>\9Q0O
M`!QL`//TT``@1,-YI(@+&2HE%1V,0@,$6]_\R!&F.$Q!"7<P0!>Z8(,>3F`%
M*K%!.*QPCPCL(P(<>,@`XA,`!^PC(@T:0!/_Q1&`#$P15Y*;848B)(4O82Y_
M^BL-YU[RLC4(X36RZ($(D)"#-A:0$4P@524H:`F/?<Q:#;R=5*Y204K(+'8.
MP^,L-+@)#G;P1P.P@KN.080Q%&.$SD`AV`9`!@P:[@5.L`/Z')``&6J10=ZP
M`;!&F1HA@L.)\XE`0OZ3OO1%:3$?&!`^[O,'Q@PH!@XH`D0:$@+Z',@!^JEB
M!+;T*OE]LB*U0H,K%T0`)5`-C)W;WX9R(2<6"+(J-!!!&W.P@#NU<778XA9P
M7O>'D/41!N:BQ*/Z6(F\-1`7#R/%`S<AO$.N90DHTEDQEB`$/2R!`21T1@TD
MN0DD!,&2FU!")SOY_P=@'C-RWNC"!'HH2F#%P9/A"(`]8A`"@60@`A\H7X'F
M8Q&!H(,#]0F!9:`T@`1D@``=;:EBJIB8?&7QH10A`!K08(8%.1.:+Y$F#>Q&
MS3X400`2S!8-1+HV=O*!CD^=707=23?I7!,3>L2$(>TIC1H$(`@",`81W+4\
M@1)4$R(@@QQ+T22'HN^M.+6(..+0IL6=(P9F"$$$^G,/_7@C,4?4AT50:H<,
M<#2*`>FE%+UG1"NZ3U7&C*M$[@"U\OP4J%7;'PW&5=1<L`"A+'/GM/[*0MP=
M#JI.=2`?6>:!7%Q5$QI(9_6VRE6SI'4`^_P``W8`A`9\`)(#A<J\.+:*%_\4
MS0'`7*BKXGK3.ZCD"Q()`#H84LM82M$;>PWL/NXS!/P$(`8?+4B!$C!,[\:@
M/C1]XJQN*MG)=J0SE\5L9A,FG<[FX@-(E6#>/"#2#+P6=[\39VH'*55#T>!E
M1)#%X2A!V]JN!2T#:,8_:<"`-3"``<P++C!^IJVBL>]\"3!#^L[WT,CV<"+H
M8U\W")"!Y7;#,N%K:#?`UTD.N,H!Y0.F`S+`R3]P(`'>.Y](8179]D:D?IB)
MKWSG*Y(B^,^^Q?IL!4,A`I$ZP)SL)%GM!IRRU5[+`S'I0X)E80`#E,7![[H`
M&9#@R&+L8`D*$*'@!A<$XJIB&^+HY%LU^5#V&OG_3'[^<SFX"!(>/'/)F?/5
M#0;@"1HH@+/%H@$+4-:#!ECZTIA&(H,LO;Q.>_K3H/8T$Q0PZE*3NM2HCH&J
M5QT#$0S`U2)X@JL#P`0N8P*UAO(`I-<0/!3``,TU6T((0$"#8I1P"3'8;9QE
M\;/28M7#X(@A)S$ZPR)/A,\<()@F$T`^;R"7(LL$MP-<S($A?\-5U/Z(M04]
M#@*0J8L843*B5V,U.=$`JH_8P9PXD=]N0:_<`/\QD!GJ;2`[H`P(3WBZSQ2#
M`CL5US`25V=!JXDSHT`#P'Y7#=Q`;&,K8`E$^,0.G!T;G%$<$^0IQ[@7OKU`
MKYB3=C!W@28T3'[8X2'@_TT/.2.R\XD(TQL?<#$X(H`8SKB<W>(PPTY9+@Y#
MSQN:]1ZSS'KPB1ZP8*VY%B]&6*SM!;HT`V!_;)1<F8$AAT#L$HE!ZVS]1^7H
MSC0*V`$1UO!?LJ#+URC(N*=J4((@Q*`8-1`A)49^\DKT8!DDOT3*RT'BN#8H
M(/AA=01`^H'*5SX<'%"I%8B.Q,6D^)4!L$(P]Q$#`DF1Z%9P0.FW*]W,,V8@
M,;7B1V?\`<-^MT!_L`('(I`!DF1FW4@7QQ26+A%Y/YU_FZM)VYDR:7^K]R($
MZ,,]7D8P<KTL%S?HN4A(?X,;/)$#TM?(VM;.9:H^1W2%-X4S+J[W=.D@"+@=
MJ/\'1BY"ES4@\93$^B::%/QP0"F)EA>`E:=J4O1\WC`@NT<0KQ12Z4$/B0%D
M]L$/3L0/`?%Z,9!Y(W5+C!$","5%L]<-1`<^)&$?'Y4`7:(O_9<1'.$1Y>!T
MQP=4FI,P4N8[6T8)`M!4D.(!6H<1$8`0IA$)?>``B_8Q:\`J#.%]!6(&`:`7
M,5`$X9<13;5@MJ9:#@<5<<([LE!/QZ`!>==^0O("08`$=.$!<394'N!H?/`(
MF2`J^J<)_)>"H+1B`7<0EB=SX5`?\_$!<:!['R,047(/`\`!/R<0AT%Z"?`$
M"5`0X`6(^G!>%\A15C`@'\@/'`!>BT&"BW&">`%\</C_#2LX#L;W@F\2=9*6
M7W`3&RS0;[EF@!6QA!Q0!/@1`D7P!S<0`9%(+M\0`Q&`A`.A2[GG`$^($3A8
M9E-(8,H!%G6G?F;!A5XH)"@0`FA0*#VP!I/0`\.Q`UB75FV8))WH?^3`$`\A
M$?A170812QRE<_J0`5*D%X:!#P$`$"U%#T.0$._8B!DPB[9X7C\'@A_UCC>W
MA!_E`$&7&4?7C=X0(7<`#BXHBI@5=7QP`4`0`]DP3Y9@=>FW%4WQ$1QP`^?%
M`6MP7K18>7U`#Q\52P#!BW:PA.L3C!>!@S18C`Y$?L``3\E(%M8!`[_6C-91
M`Z#@!FBP%+JS`[Q`!$-%E)<P_UP=9I!Q.`[J.!'?)F,?TV+F0S#?8P>=%&,!
M\!\$H&.U-#X'T5#)%95F@%R?5TL&81E;"3XI9AF_IY0Y]6[=L)`,V9";0PD]
M(`!2-A68<(-GA14>P(H5(2?W()BT:%)%0`"[-WE%Q0$%$7WEPY(5X9*^$T$P
M*9.PT"M]@&6EH(5F`0-=J)-FH6&A\)-J&'>.1BDA5PD<I@W0II0%Z23?14S=
M\%US\#BOZ9:(8`>'-I?R%8,E80FE"`IK!P2J"",Z"!+4]P=.2#!#*(0-@F,;
MF1@?0'DKV7,4(9G"68459#T")@M6!0L=T&#0X&N@V56@H@,@@`1?$3(A]Q0>
M`'^)Y_]`K:F4G%@>^B%VTX9V35.?;LD!;<2;\^:0%1D#0)`-K6-U\5D5?PD2
MO90>3U1%#II1$X(8"W&`X1:9T*&=%22%L>`R,O$*G&D=Y%F>`L4*()`#->$!
MV1!G\_>>`9"@U6-7;@ETX7"A"Q("'"@.'"![6G2;W1@'!G`!`F!``+ID`EJ1
M>#D)',H)V!DILBE932J<LF5KYK<*'DHI;[,S[$>BQJ!AF?!^@<('@J<`KC8`
M%UD]BS>C('AN'[`&AP$.Z#4.%!I3!]%1^D$05A0`$Q),>6H/$Z*GX:5%_`F'
M<GD32%"D="E&FB!IDX!:5E><RK&@[!:E5J&A$N05KR!Q8[;_F>(IHAC'I7K`
MDZ4`AA5`%S6A`$CP6V>:IFHJ&=_0IFNP!@*B41D0`K&Z!D\*H2;X=?B0@#L&
M7NM#1`F0>4L$B(5E(#W:JG,5I!HR`!1#.HB:/[XI9IMP`03:`^9W`2P`H[)P
MG#"U)=R&HWV%H]W`&*[TI!G@2CL&#NJX@^GA/?9P2GI*#I0Z0=UI:WI9"IJ:
M?IW*'7A'HEY*"B]`!CD`E&?HIC0P5`JPC4RBK$NI#_11'Y/W`45PJ[&*-!":
M`4.P8T546.JXHPTZ$.IH#\4Z<SQ:;0[K#7*9.4A0`3E``]&*?(H*-A&)K273
M"36RH%)$2S-V'S&@%ST(DDBD%V`G_PXQ(%Z]QR#EI4H,PA#2I5X,807A:+0F
M<Z]<1I&:<(6)%Z([PXPZ*:K:D"(BH&L?4&<>0(9D**9VUDXI2Z/J,VXV%@Z*
ML42XE!#W8;=Z"B"O0T3?=1_DU9$'HHF3XZ-_Y@4PL&0BL`@Q$+-,1JVE@)<"
MD*^/"B,9>0\)L"\,`4SH,8MZ\0$)\0TIQ0\0,8E-V0T\"X(F2(3>8`7T,&[<
MIFJ&)1#UBC@U.&!9A0F[4WC]FBZ>V8P!^S8^B01(22DL:FG<V+9KBAE;>4HO
MMV+4UE/.*Q^"JJP\P*R(1@,M6[",&T:_V3*I.$\>L*W/(:D?14RWIWIKZK,:
M=8!-%%*EE_\>+$5.2<L^>OI$17`9]5%Y+K4&*`5+'%!KQ56[J44!L94)8'%R
M9Y9Q7IMQ8`L,/@E_P+$\EK8#IC"?RDJXR&L.&/Q0ALN0-+`(AQJST[JI^AJ1
M%S`WDL:M5BI>+O6FW@`0M>2'Z)$^2'1[TPE2H?M*?R6_4-)$5M0-]ZLV^Z!7
ML]>@=`N>7C:%2]HUNE!QN\LW(XIFOQL+-)`!)\HQCR`""C!_HR:?&0S$`Q+&
M8CS&9%S&9GS&:)S&:KS&;-S&`S*H#T4"UCN7B;L`BXNH1[H*25K`3.H<?PE3
M_.@-N[=BZ`$E*H40`7"YR.4]US40Z!`9I5L@`A$9C^R':W"`]W#_<T7L@"$P
MN[(#DWYT+V#A6L%0GC@IQ7X)?S1P)\2U`[HV"5M</=SPQ;"'H[9\R[B<R[J\
MR[S<R[[\R\`<S,(<K]W8P=&*O2X+LP":QZN@K0*@`Z[0`\3II'\PJZH4>E&B
M7CTXCA^C$)4(4\,44@E0!/014H5%>D:DB_,!=H7\7=L%/L,T3$5<$$<<"_D*
MDR33`?65"Q1L"5R;<5%\2%-\F4'PHGP0%P9D>&-VM@V@`;3\T!`M$4"ZO2PA
M`'=R0+S)S*O0`S'``G60*%;'L!VZ#_.1HW9P8\OTK8*\ITODH.HZ()?!F#,&
MH1#;;1]#T^!32_.*8PV5/I8!P++`QS#9_P%U<'W4Q&L.!*K$L*4=U,#`T`/P
MUSM,X++<(I3W]Y>:%M%:O=7&3-$MT;(+`*VB.,)000%XF00Z0`$I/!;'Z23G
M3$6U>A>>S`I3.F#S1VM4MPLA\\_-^*^!,]"O`#T'A0GS<D`'S6FEAU+Z('1;
MW=C*&@>[XM7\<]$"((H:_1TQ\`1UP*1]^3R`J2`$%PZ,#855`7%.Y:$[D,0=
MH-3(P-0UX]3`,`!5@%!!RLIVF0\A<`.9)[B.W=L&20"1+=GYD[@5,``O>-G?
M@9=:T`'3O!70$P!:`-W2'=W4/=W67=W8;=T#DMW<O=W7_=W=#=10L:3L]'9$
MT`-9]<3-V+L:U__9F0`>^J<5'H`$:.!"+X"C\LRTOKW?G>@`7R3<8(3,VAN@
M=;D5VOH$'`VIJ;5\EY#$;/,[`R9Q6#A!KJ#>.KG`0@+;LN`W;2@C]^TGJ4(`
M5D!>,K1C3,??*+X]S03@B&;1!J3,O5G@6V'6J9B*^$Q(<E/7#X[CN'.%&%1F
MK-V9G\D=@!TJ9X,M'9`W\X(&\#:OINN(3YKB4LXX_LWBQU?'`"1?R`T5X0L$
M+%"@Q8BI7ZKC<8.U/6YO=A?00>X,[+T=&AX+1B+2?@0*PYH("?D-G>P-N#3E
M?,XX*V[EHIB]E0U46PX5VLH"`P`$0XWC#&X[/,XRN$!W=K?4.;GFSW#_RCOI
MWIFPFB;S.^E3!A'"@MTPD`2#K'U^ZOSRYX#.D-KTXE`GXV-A=24`N4/M9:<X
M8$(=-\AHD\;@VI9^#&H>#6\."R(``O4""Z']!Y4S,*A+B7R&ZM#^*O^]ZG/I
MK!L#1F3M'#?X!"5@XY5Y'%6:6J;=+:T13_Z\?FW^Z[U>Z<*NZ80=/=S*JMTP
M!WV2/H:%F&LP/GNJG]'>[WBAZM1>I`(@Z*,(Z\Z!*%<'RJT@YE,X[HP"9IDI
M%=&`X>J^U)\*#</^"FOD!K'PAN`P?`N0D"%`L?90!+;H!I_M[RJO$=,>\(@J
M`(L@U@=C\`=?!]Y>C`;@X%S&'.[NESQB">*9_^X5KP=^C0P9;Z79P:T>'PY?
M0":A,:RXY$11OO)4CV*AZ/*(VK+&W;@D#"-$G?#%J`$\#\HOZ6\OT\^5T*^8
M/O3%0/&AZMQHP/%)"2$5``+-_E$$\.Q5O_?%A_4LWK(RG^V&\@(V+^=T8SVC
MT.A.E<\Y."[G70E\#>SLSO;I?O0M@P1N8*F^8\'C0`8[!6^[5XE^ZX=\7_KR
M<?5^S[@M>\?<Z[B,T@%M(+ZX;BX,'^:/3AQV\_B4$/FM/?E#S]Z6KZ\Y0`::
MWP&<3PZ4Q>3Z0%Z#4@1V:/I4SP.I3^TMF^6%KAP=D`02N>"R=<^VK_EP051H
MS_OH/N2_#P/!GT(&5?_\LWP14Q`AH:$7!)!S+\;OT#_ES;2;TV_EU0\(%S1]
M'PE]1'R)BHN,C8Z/BD]`D)25EI0Z!HX=&AV7GZ"ABP8OHI<*?:F(?!1ZKJ^P
ML;*N*#"SM[BYNKNQF::,2$&>H$I_QL?(R<H$(!4@?U81$0''"44<RMG:V]S=
MWM_@X>+CY.7FY^C*/!?L[>[O\/'R\_3U]O<#%4@"A(:KO[]B"`!($-(+38\Z
MD"K(4-3"AHI0I>JSAA6O7;507-S(\6(-"@<)(@%1ZA.%8NG(.'.0@)HQ`A$R
MI$L0(4:(=#ASZMS)\UB(`3$X)(@QX&8`H`1ZDE.BXY[3IU"C2LV'I-\AB*#_
M>K"X@+7@"PV6-)3L2I:1`1U8&TR<N*2C+A@:W<J56T/1UU],0*`%Y42GE`4+
MI""+8`69G7(#.,!4RKBQ8Z4#_G"(,2<#@0\.(OP)$,*!`VP<'#Q.QJ.IU-.H
M4T<54<'JO[*0:.`9"!N4PD\Z]M8NZXMA@QLW=NP@LJ8/@[FXX")?OJON(H7#
M/N75?:GOSB\@%I`Q-N`),@Z%R7U(&GFT^?/HN_T,(#K"SS\9!D20/TVS>::J
M\^O?_TZ$Z]V4>,""`#T`2`DGH?1F(%8OP%#0;WTTH$@->HS!W"S*7:CA*\XQ
MPDETE8B`!D*?6,<3,Q4$\4<,+D%3GGC<I2?CC.=E_T;``$D1%EE\$=C!@68O
M-E8:?T06B1H_A5RUH",]"!`##4LV8@"(EX0494,'4?F)!\4ID`@%%&Z(H2UB
M,M=A(PJ-!8F(;H3R@A>-!>&,&0/L&,%0HHT3`7DT]NGG3C]B$T`"?\0460@!
MW#G9'T'V-*21D$9JSR!)OG:E(C0,2$.!47;RRUV7%O2A*![<T(>7K(19IBRU
MK#J7EE*JV0@-:+@!:T)P.C:',P1P8,>>1+DW3@"#VO?GL<B*$U,"#F3`WGCC
MQ9"!HD-LQE@<IDFJ[;;N4.I/J+.R("Z4"S[T"W3@`H3NED3TL<.7JKH:2ZOR
M;G0F)6<](D(.MMJ6ZV-W+/\`@AD9V#$`-3^.8\91AR7K\,/:$%L4`4=A$Q\U
MG3EPDTP\/<KMQY'J4(<@_Z6+*0MU/$$;@#K(:LJH)HO"B<M,%D=$@:W4>PL*
M&L2E,RZW/I);(Q[D0$;0CI"`'@<5H/%'2\9$()1E$%=M]=7<8`ORUI"*S`Z2
MW\;,AU8"L%""@0HR9*[8GZS-Y`Z'>&#1S\GY3#<L]UZ2-@TY!$$S)#S(>`<:
M:`A&@$T!?'`4.!FLY?CCD$<N^41K'&SY49A?KGGFG&_N^0>3AR[ZZ*27+OD'
MCO%@`->L$^DU.]XJ*78/-%S0\FXO4->0VVQ7DB\D<-\@=P=WY])S\:\@38F5
M/>3_0%(H*,GX%QH$$!""'1\D-N@WC9ON?>1%S!C#]^27;_[CQO*D=>OLZ\=!
MMR7WGLCO9%E)%OWR5Y+V(JBL(7>\R)-%ANZ6-S>MSGFZJX2)9O0%P@EF,C>Z
M4P"PP8WNG>][E>N<!CVWP0Y:#G07#*$(0X>ZCJVN?2A436[:$3M+]6Y_#$%0
M;6"8/T?8+R)]N(&$`!A``9+I9Q1H2`?(H)=0+)!&TS,#HZ:1@(/%A!L_\A$'
MIDC%*EKQBEC,(A5'Z#W.A."+8`RC&,=(QC*:\8QH3&,8TY>.]:7PC:C)%MAD
M5T,:GHM$M;EA#1^1)46H18=@ZB%&?BBO`HJB!R/!HR6<_Y"48TW!@7^P@\:B
MV*)L<*!1YN&BZ3B&-9V4,!TD@`$<1ZD?-\1OCS)DB*<,=)L]'FA*?(!0`P(I
M2(QHH%Y!;`@2:A6*#OSK6`D@W!1B-,%N8.\#$4"F,I/)S&4ZLYG0?*8SBT#-
M:EKSFMC,IC:QN88/2#.:X/RF.,-)SG&:DYSI\$*V2,G.TY3@E'OL(T%@N21Y
MNG(3!A"`J6;)PUKN;(`;,J0HF%`KY3WGE\AZ)!JP8;`8$*J3$(TH8T+9SHJB
M1@OP1.4J32&62\'LGD1+G`)RYL^-W%),N60($Q;0ID;<KA$40&BRS("&!0Q3
MHCC-*4Z\<$*+^A0J+02I(M:5H(N_`8BH0N4#E]:@A1>4U"T`18Y`0R$"[6AI
M:&@*W-6FD)TYZ/2K8/U&'$3YT[(^)78Y!(Y:U\K6MKKUK7"-JUSG2M>ZVO6N
M>,TK75.AU[[Z]:^`#:Q@!TO7-:C5L(1-K&(7R]C&.O:QD(VL7:VBR<I:]K*8
:S:QF-\O9SGKVLZ`-K6A'2]K2FI9T'P@$`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>c24594c2459402.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c24594c2459402.gif
M1TE&.#EA[P!:`.8``+G1PS5E1?W^_N7RZM;4:/S^Y"=4->[MK8JCE*BD$UN#
M:72<@=WKXIJTH]K3@:C(LQ`\'0Y!'$=U5;3(N`X]&G24?PY!&;&5"J2<#;2B
M(YS!J.7GDLOAU*B9#!0\(<?%4?+Y]6>3=<'6R:V5"_W]UGJEB&B,=-;CV@\^
M'?O]_0]"'NSV\(BRE?7[^%=[9?CYQ>'NYJ6\KH*>C</@R\O<TQ-!(:B;%]7J
MW*Z8"JN8"_[^\3]J3+NX.4EN5/G\^XVJF9&SG(.DCMKJWR=,-+38OI6KH-CF
MW3590<6X-2]C/Y^8#AQ+*P]$&1Q$*O__^J/!KK"I'V&';LFW2;FT32U9.P\Z
M&J25#+.O)")(+JB<#`]$'!)'(0X]&`Y`%T]V7AA")A`Z'M_=B_#W\AA1**S/
MN+*L,[&W)U"`8-#@V*^?"ZR:"R)1,5Y]:1=,*/?[^J^;"Q(W'A!'&["0"1A(
M*!!`'\_GUSYB2J*@#R!8,O'PP//UUNWER]/LV0Y`'*N:#/___R'Y!```````
M+`````#O`%H```?_@'^"@X2%AH>(B8J+C(V.CY"1DI.1>SJ4B2^8FYR=GI^@
MH8H%4P6B#J*IJJNLK9!.&U>FH$Y2KK>XN;J4!3Q0)*$'-KO$Q<:Z!W=7P)].
M'QC'T=+3FSH$";^@!399U-[?X(8O4!A7EY\.'6_A[*X-$O#Q\O/R7@H*)3,#
M*;=.#ED=,LSJ5."*GW7M$J:J@**/PX<0(T)$@0)"#0-LGJQH1:),AX`#.6WP
M0U*A25`,):I461&"RR\]'JP0D`K6G8\"/>G@T:'DR9^;4JX<VD=%GP@45$2@
M0\>#!``T0^W$@#,DIF0]_0#=.DDHT94JPCH,JP)%DQ(M0KU(<!.DIP\)_W+X
MY$JWD=>O*B,8I7!4Q1:F/09$Y:3C@Q*`;CF-(SFWKF-$=_%&<$CQ:!^^8REZ
MV,%A,*:U'7!4[40@RP7&CU,?BDPTPN2*E2-8N`R[HH<>:#@Y":,DQX71U<SX
MD:.FL6K5K,?V:>B0@O/GSX].[D,'A0H**.CL&$#)R9\"2-+X^9CXZIL<(^1J
M/<X^N>6&KB=;F#__<E&R8OMT40&AAQM*`AP@1QIJD)?3)E*\@8,5J+%WG'L4
M-126%EHP86%\KN%'EA86E.7!`IX]4L`'(XS0`6('4I*'#1<LV*"#J4$880TT
MTEA945I,]U!82&&GPAQD3')``G[@\(:!5D5"`/\&.)CX(HR.N4?9#AK$,,$$
M3YC@Q1I@T*%%62A@%A837#BGQ18[;/3*DAV,H$8.P$U24!9^.&D<E%RYIY0*
M(1B2`@-!&.`!&-E5(:%2#WT)!A`A+D("%(CE4&!YD>R&`V(X/(EGGLRI=%V?
MB*RP@`=T5&'4??!90`$$*"0AQ"-.$(##;QCD(!JED)"`Q`4Y8&":>IM&V6E$
M$#@$*B(":#`&4X?R92$*55`0!P*/Z&#&!7)T4.NM*4:R@0URC'#'KW<&>Y)[
M7"RWP"(^/($%':[U,1M$?$60A)J+.'&`$NI<<(&;<4(R(@9J-`DGL.9RNM)^
M$&C`2`I`>-!0?2K1$23_(SI(8446;V"+PZ3=/C(.53C(T:NF"9NDIQ8U.,Q(
M"Q*`(>^\$J'@0B-ZV."K&OZJ`7*2C1"@!`9I8)L#G>6FW(Z>7#3LR`T>4$"Q
M1!0,@2\B_F3A:YMNCH=K(P64<9AOO"*]GM+G#AM1%TXWDH(7$,@V%!PW+/)"
M&5GDW4$.Z@7<""P8^-IDV2BCS8Y[$;#M<B,/U,"%%IA)!,&ZB?BC1''D]?1S
M)"3PY`??H#-VMN$)(:[X(S`L090%-7C1Z"`[)?"QMKY*ZC<C!VR;'F/JC4[Z
MX6I#=+HC/ISAG(X0+14`")DD4+1H&(QKZ^V*Q%JTO^JAA_#O2P?OD`5=@+%X
M_R-1T-'%4"B,P1TB'V1A<N\DP?FU(N.TR+?HO7-?NO?RAC\^(Q6@`\TBLA0M
M,``1.KA#&N0@.M%1+Q$.P(`<WM#`!NJO>RL!G_@@P0)XK615<3C@(1QP$PI6
MT&LAHQ]/_G7"PEU0&N[1X/\6\8`M#)!8!CR$M1(P`A-6\(&'V$`"VE2<%OKN
MA=.(H?\@H8$M=`%Y#XE`%;8@PD+DX0YWL%4+@5@(9]QD=T9$(CB4N,%'E*`&
M6EB)%+?PJD(41GI&Y"(A7L"-^QGQB&(\!AEGJ`@30."&$($`%0V1A\-D*BL_
MG)\AG)$%OB&RA7GT1@Q7Q<=$1"%N"T,!'J[V!VL0;/\$=Y2C(,;A&SC=$8^1
M)$8%X(`"#,6G+&5LQ`H"H`(Z1`XB3.B#%_A!B#Q`07XY\&$#16F-N/CKE$<4
M0`H$\#H_^2`%T(RF`'S@`\\H,YJ\1,0SI4F(:4+SF<A:`0P80,Y]N`T&1B`#
M`AX@A`'X0!'73`$(WID(95(S!148PAKVR<]]+@$+6'C`(_CPA5M&A`ETN%DA
MTG$DDFU1D80H2!:/><I"""`*/=A!#[SP@QLTTP@["*E(1[J#'Q`B!B/M00P0
M`0(%B-0.U!K$!$;J@D8)00%8()5+YK"#$M0M5$"P@P<D5H,M@.$+=@`")P?Q
M`)).X'4"8,-+&R"&%ECUJE;_%0,(6M#,0_A1+P9U2!<L5HBP6:%`VWIH"@VQ
M@3L0C(45)40*CD"'LD#``TLP`1H:-0,/1%$Z$3"J"0B!@%51!`(&J"(A5D`%
M%!`*`FP@1`/ZP`15#<&:`#"`4BP0A\ZFBPY#R$TA4M``.Q!J+"JP`(?BT(<`
M/"$MA>B@O'*Y!!H@8@C5@0`8$-#52(C!`*V$XD.:LKY!?"N86O.-6H%&"!(8
MII%-*F(8">&#(\1M/DCQ@!T>$*(9E*H*T>*+!0(+@<$.`@'T,4I_EKJ"))0E
M+`J0+&<K:X!L_H$!C8T(!:H``>W`=A`^D$$3P`"!U*H*.Y%#P1=^\%]!L$`%
ME7T6_QN*2P@#5(@B)O6$`(`@LZD1RPX-=@(2.M"BY)[FA'(\0!8.4R0<X`!^
M%>QF"ZA0+!5P"')TF`-W">%=[(2I,IHQKR#0B]W)>"`$#?X#8R?SI?@.H@'S
MM4!]"1$"`<9!"RX!`X$A\`4@C+8$@RI6O5#%*D.IP`,R\,R#F=`%"S`A`AZH
M@'T%88`X,,$Z&>Z$$9:`@OFT625Q)H03UC("?VE+N2B&Z!]BI08KG+5@+[XC
M"(Q`Z1/00`))2,(2:M#GRG(!"XKU+H6,0H4`F#H)1XCID/="`4_3(0:>$0,5
ME@-?R4(@1WV8LB`&8(`N=+8/2P"""`!0@C4$IA`3V(*9[/_Z!2ID^B_6B<"=
MOP``0CPX`A"@@%[H\`6!%J+.%KAUGC>Q@AW4(+5=^+-$YL"'B)9&#G*@%:(3
MN59!.$$/97@QWWQVGCM.@"D0@(,'."`(!C2`"G3@`INKL(/_",*[E(&#"`;1
M*`3853]<4.T0JCT(65?D*$X61`/B5AU=_P$-8$A<4[P\"`;LE1`#.(*;KTR'
M&I0`#?P0``U,L`0OG:\*`?BO;/EK%#I`H`FVK3"9**"%<5-B`"8``X7H,QOG
M?*\/"J"G($A@@X[%^]`GIC=S.^D`&Q@)=`6#<0,G<!0+<,$#=2#$"6CL$/YR
M_`\S^.-L)*X(!&B!(FD$@[0@L`/_&`R"L9>9310DR_2*F)P#VJX"'<#`@CD7
M(@;9UD(<(M"$E1;"!PUH`ATNPW1O_X$%%>++%JQ3EB,8?A!X`%\<5%"$3?A`
M!!*P\:D<@A3P<K8+2YA`(<+`*V0R!HC@`:7Q1<=VV;P][H-(@08\,!GPFH">
M,PB3<^``E>A[QN*L2B,<Z!`'"B34#31!O-0LL/@G-QZQV41#%=Q^90,`X02O
M:X$)KC/>&H0@_Q50`SW2!__G8*FU'-@6%E4`!B'`/'36!=)">P`"`S]@`)BT
M>P_A')5%!PH@!H2P$Y&V?`^D+R6R?,S7=L]7"&[06!'P=U;S<+94)F!P!B%0
M@R80`C\U_V389AUM0`5P0!8>\`/\(`9'D'A]T'XB]WXF9P0UT`<58@&.A04]
M,`$,X!E&`&Y_1P6O=P@PT`1(T68&X(`/IBI^L08UX!):0`<-$!4&0`%<,'NU
M]PC*9`03L``&4%=]4102T8(40&V>L2]@9'P/I`-3H"`FR!C-YW9P9U$5,'^J
M\@4BU&/:MAQ:YA(H<'=_@`!]$"WVP@'OH@)Q<%?51H2)QWZ,]W?P%WU>`"\-
MD7%/!`%+4`%;>(440@%@$'*'D`)V@!3S\04>>'H"A!1X0`98``8V9@%8('Q_
MT(8*)X&+\`-'$(U'8`!-``>&PG1?XH2WI%H4\B'VY0P8($S(]/]`:W%6AT@2
MB9B"A;``5<`A9\9Q$.=F7Z(77P(!F*B)G)@$*3`!$E-^<$`%=:!^BG>*CF=?
M'&"!53!;G=5F8+`#T'<"0T!9MA@$\%0"O,@$'J`FLN40>"`&,=`$2I$N:_`J
M5'`=3.",BK``CP4=5@=(S?$X$8`"1_"+@W``&9`%XF&"U,-('W&.?I".B[B.
MCM@'7P!]>:=M%4(;4`@&]]@%9=('2:!,,O`%>Z$"7L`!25"*2/@'#:"$<X8&
M%6``-0`OB:,JY[-+)X<%J:4%8%`!BQ`%8<)9&>E@<=D':P`";A`$-9"04-@#
M((`':722<9B2*,!F3!<ORW$C$9%>0T#_`YX1*RYVCK<S:!D@/SX)E-!'<5Y0
M!4]T9FK25U:''4-%(QYPCVYW/DD@""W@!2K`!5V`D6>`!T:XE5V)BB9'<32@
M`6Q@@2C@BIS'/!!I0^&V`Y8W"&XP!-#B9DV@D=DV'W?Y!P.PF>"S%!6`!W'@
M9BB9"`M0F!`8$8JI7Y"S!&M8""]P!12EDU^C`QM@!0OR2,LW`;*A*D$Y"`/P
M+N,%`<OS<%$C+Q2@`7SPGW50!PXX9&PV7JDI"%BI'U@F,4:(BY/U=RAPFX8`
M`RQ04-?Y=L(W`!)PG6DT!Q.'""+@`:PR7CL`6RS0G';I@`R`!1'`!0H'!_&)
M4(.IG:W&!89"_Q1BH@)5\`4+8'EAH`[$H79Q]#6=PS.F=(X3X&;RF9E_T`(A
M8"I,P);CB7?FXV80\*&(@`#3H0('*@@B,`=?8B8Q618.2ED4(:&&L&%U-1LU
M(%`"(`.M"8&$MU0"$'.L9`%;4`-NZ6"CYQ!A*`@"(`)-T&90Z!RO20<SB@C;
MF3C:!D7T<1FU9!M!X'"%P`-9P#/%)X+EX03><0`,XF)">DH3X)I=@`)P0'"[
M5F7788M84%S>52;8AJ5_$"):.A8!(%<<-GI*,:810)N-%Z'VM0(FL(6SBGE;
M\&8U,`."0`,>D"ZS@0)V``.>P0$[L`43HF!5U$'S\J>#H)<M.AE2(_^CC+"=
ME65U:F04'O):A[`B63`K(2B(N%(8C=0UE_F4%;$`15`$%6!=Z]<%'M``V22)
M,5D!^9JO/]!].J@7*G"KA.`&%2!ULA&3.>*KMIE-`K!*`=```[`"*R`"-`9A
M*M`$L*5_QT,=8$`%%=``9-``(;`&$-`%%-(4)C`8VNH:W"H(('!)B!*NB#JN
MA7E@YAH183%Y28"P7?0,?G">FAHR!P`IZ.&3Z"@ODU$J8,"9^Y5M3'<&#09Q
M16%T6A9F,WM>B<*PB[4#9#&F1RA9\G*FV20$:U`=7Q``(66!=844/="V="<6
MV+$%8]![9H9MT6IM`C1>-RL((%5@WQ,'*)#_J(=`KJJB7WMR'37P!6S0&8B@
M!VPQ*R-@-O#:+=8P+B62-Y>)(481EY6E;#4@`11&I7U1NMD1)F$[9,YA'5U*
M"!SPMGR!N+1I8Q!0!6O`2P*@DDR7F-DA%MSF>8/@B8@K&UJ0;NDV7F%"!T<@
MJZ<77"DZ6@#P!=!"`:]9!4[7N"B`:Y,QOF1!'35@!V2@=8M$`#<Q*T=SB`%#
M`E>@0.D!$)>YJ_$2DUBK`DO``@,Z"'EW%*.GL%(4`4*6B3ZVL(C0`-I;$3%)
MF_+27[^[:T)5'?2A%Q'B`4$0(@+``4<@,6[H=D]I8W]G!T(0(BP@@$=1N(`Z
M`6=8!2ZZN``D,ZMR_XTN42HU<!L/D&2&\"CAV"+C`;^;2D)IU9-(VA*66!$Y
M;``_<,*',`.<YEB$<EA,%[M_$`0M@0)D6P@M4`(NT5\HL+OAEHJ"(`9`X(/<
M^ZP!1P4/0*F%P``E('HP3*@4<50LL%1_``02$J'_&WVC8F9T\+T6I9)&)Z(U
M``9#U00AT`!"P,.'$`8D(P>9PB#HF2)306*78L2'"`,:T,F>K`$/,`-&L+J%
ML`)/\,FHK`%)AZ"??#&'L`(/\,F8:`2?O&,4-P``$`0+H``N4`$R\`""H0@^
M(`1`4`$]0`4&0`4[4`$Q4(6(<`.UW$RF_,DGP`@#,`/8/`,/0`8SP`%"`/\#
MZ/<(!^``Y%S.YGS.Z&S.87`.9)?.[OS.J)`R`@`"8M!;N3@`0G`"HZR^J=3/
M_OS/`!W0`CW0!-T*UA0)!XTL46'/Q,,`1G`")P`#U530TA`#,G#1,A`#_"P(
M3X#1%]W'8E`$'BVK`.#1"$#*@K`"'BT#520`%AT$,`W3)KVZ/@``%6`'!C`$
M0V`'B^S,%$T,*;`#75(=6(")@G"<CW54;30(0C`$<,`J8$`Y@N#%U0$&<!`%
MCFP$3XW(I1E]$G"C57=8<-`$R@I@%3!4=>6B96(6#;#1/]T*`]`&X?MW'V)-
M#T`JNE<#RLC4:]""92'5?U`"7A*I-0`$EB<$3&'_9'<G`!)0%`IW9142I6U0
MUG^0`B7PU)SE=DQ@9WT`![#VUKK`!^A*B=O1L`'@6.%K`6"0J`S0UZJ"`H!=
M`M:Q'$71>88@!$;!D)@H`3&)`N=3*AEG`7-`V2+P!:5267O9CF4!8J"M"T^@
MJT51!1[@RG_``=K+*K(!`;Q%"*TM&]@1VPUQ(S5`!=5,"+BM'ZJ]V^"J`E\0
MC9F6!#N0@PMP;MJF`CO0``VPKW!@R\U]"R8@(1A,!U&PT$&0;111?2;PO]W]
MVN!-VZ[1%!)`DW^`V[Z=WH30`QS"%U%P`T+PGS?``+SD`RY0?2A`!1XE`"V`
M!@C@UOV="@+@!<SQ&A&J_R8K@`7,`1]`1V$+_MV$(-O6P7K5`=MMF]L6/@@8
M[G8J`"*A(@'CQ5]>X,@M[@HM8`=":W0.X]*].[6VU"K$NN.PW>.5$:G9%@'[
M'144KML7SB'ITJ.((`:\O5\H$&=]'.6N,`!?`!%@HAWR=`83$28JL`:4?5^N
MS>.#(-M)X1<Y/-<>2A.(7>%,F>9,)@%$,.F3CJJSZ@*V)"]]X`%4H`!D@-)T
M+@H,0"H.,0=S$.1?<`(BT-<0.`9R70414`,-P-V#_N6%?BA)`&:WQ@3]4<V-
MCN9&GD9.V!1X70,[,!@(,'JOR012@VTH:P2AS@I``-6M\K"3D>0AT)O@$P)G
M4/\6#J%J@N[=MC[5X<VE^D?JFW@&DY9RP"X(O)V<$8+!.P!S/<!*%M(T&8Y8
M,\#0T2X)"N`<72(!==`$EU$%>#`'VK9?,X#%Z`K87@[>2$$'2>`#,-`#@M>"
MDW,"[%[D@M`#92$UB>D:$&`'A2`&7M`$#5$%/[AP*+`&H-[O`"(!VD8HE><"
M27&-#@$!"@`"/Y`?/4#KX@[QM/M.:(!;&/P%7MR\'/\'/>`:V*E;=4SR%G4#
M#>`%0V",E>40-<"X,(\)C-5JCE5M3_`%$!HO<"!\(]<75#`8#P_F:<2E[R0`
M`#`'X5L6YP8^2W_D;78&`-#W?;_*:7H"#9`$D#/L:=;_]9X``]3W9G!@6S!@
MMNG2@G1`!1XX`5]P[3?;]K>>1EJ@CT>]`(G->WC_Z,$^&TG.[Q1'!G3OA*>/
M^)V@\1:"C-SQIB\[7GT``250<%2Y%)/=<K4N])T_&&[@!1)#=>W^!Q+`(88"
MV(?P!,3:I!;8>(?O^IL0`V"`]W80%30P!Y65'4VP/BOP@S^69YI/[LL1!YY_
M>-;E9LZ[],F_B5A'`VB`!AR`!D:@=2&Z!NI*$Z`/""@4<2@(?X>(B8J+C(V.
MCY"1DI.4E8LR8!9<3':(/A),%A!@7BF'($-:?2AT08@,:Q$6%"@+B24H*!`J
M2::)``813%U<719@`(D]$:M,_RI?<VUM<T,<ASXF$5HU!EY1.S5Q6N,>-);G
MZ.GJZ^Q_/E$HXA`*B`(`*K-?(H@I;"J$=*((.,3``!T5*OK80E0"8<(`;A2E
M:.!AG!8F$9#5DX!"6P2'XU0LF7&(S!HZ?1+VZ0-!6!P5'MBT:$>SILV;D`90
MJ1$A(Y!$*Y;HV@$BT0\Z$>B@"##P#X,AK.C067@(EPJE$!>),5$CI0H*&@\)
MD+`K(8J5".DT(?FGA`<P2OM\I$!!A1845(S@W,NW;[H3<.#0@0!G0B(!)>!X
M,)2H`9@J8.!@:?H43F0P%1)A`A/YB`]&*P)X@#`*3C*Q/>!`0%$%3I77HYI8
M^P,"R%<1Q:^KL`;C80>,IGZ#"Q]^"`8;!<C9F$MD)$J4$XH`>#F#O,+,/RLJ
M(%?@(D:B"=1=*%C@:Q$#[N)=0$?TX_CV]PI,"$D$@HP""7C&X-D1!4!$X@"V
$$P@`.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
