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<SEC-DOCUMENT>0001176256-10-000752.txt : 20100901
<SEC-HEADER>0001176256-10-000752.hdr.sgml : 20100901
<ACCEPTANCE-DATETIME>20100901172516
ACCESSION NUMBER:		0001176256-10-000752
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20100831
FILED AS OF DATE:		20100901
DATE AS OF CHANGE:		20100901

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILVERCORP METALS INC
		CENTRAL INDEX KEY:			0001340677
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34184
		FILM NUMBER:		101053111

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1378
		STREET 2:		200 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1S4
		BUSINESS PHONE:		604-669-9397

	MAIL ADDRESS:	
		STREET 1:		SUITE 1378
		STREET 2:		200 GRANVILLE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 1S4
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>silvercorp6kagm100831.htm
<DESCRIPTION>REPORT OF FOREIGN PRIVATE ISSUER FOR THE MONTH OF AUGUST, 2010
<TEXT>
<HTML>
<HEAD>
<TITLE>Filed by e3 Filing, Computershare 1-800-973-3274 - Silvercorp Metals Inc. - Form 6-K</TITLE>
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  <P style="TEXT-ALIGN: center"><B><FONT size=4>UNITED STATES</FONT></B><BR>
    <B><FONT size=4>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR>
    <B>Washington, D.C. 20549</B><BR>
    <BR>
    <B><FONT size=5>FORM 6-K</FONT></B><BR>
    <BR>
    <B>REPORT OF FOREIGN PRIVATE ISSUER</B><BR>
    <BR>
    <B>PURSUANT TO RULE 13a-16 OR 15d-16 OF</B><BR>
    <B>THE SECURITIES EXCHANGE ACT OF 1934</B><BR>
    <BR>
    August 31, 2010<BR>
    <BR>
    Commission File No. 0001340677<BR>
    <BR>
    <B><U><FONT size=6>SILVERCORP METALS INC.</FONT></U></B><BR>
    (Translation of registrant's name into English)<BR>
    <BR>
    <B>Suite 1378 - 200 Granville Street</B><BR>
    <B><U>Vancouver, BC Canada V6C 1S4</U></B><BR>
    (Address of principal executive office)</P>
  <P style="TEXT-ALIGN: center">[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]</P>
  <P style="TEXT-ALIGN: center">Form 20-F [&nbsp;&nbsp; ] Form 40-F [ X ]</P>
  <P style="TEXT-ALIGN: center">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [&nbsp;&nbsp; ]</P>
  <P style="TEXT-ALIGN: center"><B>Note: </B>Regulation S-T Rule 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.</P>
  <P style="TEXT-ALIGN: center">Indicate by check mark if the registrant is "submitting" the Form 6-K in paper as permitted by Regulation S-T "Rule" 101(b)(7) [&nbsp;&nbsp; ]</P>
  <P style="TEXT-ALIGN: center"><B>Note: </B>Regulation S-T Rule 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's "home country"), or under the rules of the home country exchange on which the registrant'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'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.</P>
  <P style="TEXT-ALIGN: center">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 12g3-2(b) under the Securities Exchange Act of 1934.</P>
  <P style="TEXT-ALIGN: center">Yes [&nbsp;&nbsp; ] No [X]</P>
  <P style="TEXT-ALIGN: center">If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):</P>
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  <P style="TEXT-ALIGN: justify"><B>SIGNATURE</B></P>
  <P style="TEXT-ALIGN: justify">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.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''Times New Roman'''" cellSpacing=0 border=0>
      <TR>
        <TD width="20%"></TD>
        <TD width="24%"></TD>
        <TD width="12%"></TD>
        <TD width="4%"></TD>
        <TD width="40%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left></TD>
        <TD noWrap align=left>Dated: August 31, 2010&nbsp;</TD>
        <TD noWrap align=left></TD>
        <TD noWrap align=left colSpan=2><B>SILVERCORP METALS INC.</B>&nbsp;</TD>
      </TR>
      <TR>
        <TD></TD>
        <TD colSpan=4>&nbsp;</TD>
      </TR>
      <TR>
        <TD></TD>
        <TD colSpan=4>&nbsp;</TD>
      </TR>
      <TR>
        <TD></TD>
        <TD colSpan=4>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left></TD>
        <TD noWrap align=left>&nbsp;</TD>
        <TD noWrap align=left></TD>
        <TD noWrap align=left></TD>
        <TD style="TEXT-INDENT: 10px" noWrap align=left><I><U>&#147;Lorne Waldman&#148;</U></I>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left></TD>
        <TD noWrap align=left>&nbsp;</TD>
        <TD noWrap align=left></TD>
        <TD noWrap align=left></TD>
        <TD style="TEXT-INDENT: 10px" noWrap align=left>Lorne Waldman&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left></TD>
        <TD noWrap align=left>&nbsp;</TD>
        <TD noWrap align=left></TD>
        <TD noWrap align=left></TD>
        <TD style="TEXT-INDENT: 10px" noWrap align=left>Corporate Secretary&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
</DIV>
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  <P style="TEXT-ALIGN: center"><B>EXHIBIT INDEX</B></P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''Times New Roman''''" cellSpacing=0 border=0>
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        <TD width="92%"></TD>
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        <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B>EXHIBIT</B></TD>
        <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B>DESCRIPTION OF EXHIBIT</B></TD>
      </TR>
      <TR>
        <TD colSpan=2>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left><a href="exhibit99-1.htm"><B>99.1</B>&nbsp;</a></TD>
        <TD style="BACKGROUND-COLOR: #ececec" align=left><a href="exhibit99-1.htm"><B>NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS DATED AUGUST 26th, 2010</B></a></TD>
      </TR>
      <TR vAlign=bottom>
        <TD vAlign=top noWrap align=left><a href="exhibit99-2.htm"><B>99.2</B></a></TD>
        <TD align=left><a href="exhibit99-2.htm"><B>MANAGEMENT INFORMATION CIRCULAR DATED AUGUST 26th, 2010</B></a></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left><a href="exhibit99-3.htm"><B>99.3</B></a></TD>
        <TD style="BACKGROUND-COLOR: #ececec" align=left><a href="exhibit99-3.htm"><B>PROXY</B></a></TD>
      </TR>
      <TR vAlign=bottom>
        <TD vAlign=top noWrap align=left><a href="exhibit99-4.htm"><B>99.4</B></a></TD>
        <TD align=left><a href="exhibit99-4.htm"><B>VOTING INSTRUCTION FORM</B></a></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left><a href="exhibit99-5.htm"><B>99.5</B></a></TD>
        <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left><a href="exhibit99-5.htm"><B>RETURN CARD</B></a></TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
</DIV>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS DATED AUGUST 26TH, 2010
<TEXT>

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   <TITLE>Exhibit 99.1</TITLE>
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<P style="line-height:11pt; margin:0px; font-size:10pt; font-family:Times New Roman;" align=right><b>Exhibit 99.1</b></P>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 14pt">SILVERCORP METALS INC.<BR>
</FONT></B><B>Suite 1378 &#150; 200 Granville Street <BR>
Vancouver, British Columbia, Canada V6C 1S4</B></P>
<P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 12pt">NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B>NOTICE IS HEREBY GIVEN </B>that the Annual General Meeting (the &#147;Meeting&#148;) of the Shareholders of Silvercorp Metals Inc. (hereinafter called the "Company") will be held in the <B>Coal Harbour Suite at the Pan Pacific Vancouver Hotel, 300-999 Canada Place, Vancouver, BC, V6C 3B5 </B>on <B>Thursday, September 30, 2010, at the hour of 10:00 a.m. </B>for the following purposes:</P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''Times New Roman''''" cellSpacing=0 width="100%" border=0>
<TR>
     <TD vAlign=top noWrap width="4%">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
     <TD width="96%">
<P align=justify>to receive the Report of the Directors;</P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%">2.&nbsp; &nbsp; &nbsp; </TD>
     <TD width="96%">
<P align=justify>to receive the audited financial statements of the Company for the year ended March 31, 2010, together with the report of the auditor thereon;</P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%">3.&nbsp; &nbsp; &nbsp; </TD>
     <TD width="96%">
<P align=justify>to elect Directors of the Company for the ensuing year;</P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%">4.&nbsp; &nbsp; &nbsp; </TD>
     <TD width="96%">
<P align=justify>to re-appoint Ernst &amp; Young LLP, Chartered Accountants, as auditor for the Company for the ensuing year and to authorize the Directors to fix the auditor&#146;s remuneration;</P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%">5.&nbsp; &nbsp; &nbsp; </TD>
     <TD width="96%">
<P align=justify>to approve, ratify and confirm all acts of the Directors and Officers of the Company on its behalf during the preceding year; and</P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%">6.&nbsp; &nbsp; &nbsp; </TD>
     <TD width="96%">
<P align=justify>to transact such further and other business as may properly be brought before the Meeting or at any adjournments thereof.</P>
</TD></TR></TABLE>
<P style="TEXT-ALIGN: justify">Only Shareholders of record on August 26, 2010, are entitled to receive notice of and vote at the Meeting.</P>
<P style="TEXT-ALIGN: justify">Shareholders are entitled to vote at the Meeting either in person or by proxy. Shareholders who are unable to attend the Meeting are requested to read, complete, sign, date and return the enclosed form of Proxy and deliver it to the Company&#146;s Transfer Agent, <B>Computershare Investor Services Inc.</B>, in accordance with the instructions set out in the form of Proxy and the Circular accompanying this Notice.</P>
<P style="TEXT-ALIGN: justify"><B>DATED </B>at the City of Vancouver, in the Province of British Columbia, this 26<SUP>th </SUP>day of August, 2010.</P>
<DIV align=left>
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     <TD noWrap align=center><B>BY ORDER OF THE BOARD OF DIRECTORS</B>&nbsp;</TD></TR>
<TR>
     <TD></TD>
     <TD align=center>&nbsp;</TD></TR>
<TR>
     <TD></TD>
     <TD align=center>&nbsp;</TD></TR>
<TR>
     <TD></TD>
     <TD align=center>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center></TD>
     <TD noWrap align=center>Dr. Rui Feng&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center></TD>
     <TD noWrap align=center>Chairman, CEO and Director&nbsp;</TD></TR></TABLE></DIV><BR>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit99-2.htm
<DESCRIPTION>MANAGEMENT INFORMATION CIRCULAR DATED AUGUST 26TH, 2010
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<P style="line-height:11pt; margin:0px; font-size:10pt; font-family:Times New Roman;" align=right><b>Exhibit 99.2</b></P>
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  <P align=center> <IMG src="exhibit99-2x1x1.jpg" border=0> </P>
  <BR>
  <P style="TEXT-ALIGN: center"><B><FONT style="FONT-SIZE: 14pt">SILVERCORP METALS INC.<BR>
    </FONT></B><B>Suite 1378 &#150; 200 Granville Street Vancouver, BC, V6C 1S4<BR>
    </B><B><FONT style="FONT-SIZE: 14pt">INFORMATION CIRCULAR</FONT><BR>
    </B><B>FOR THE 2010 ANNUAL GENERAL MEETING OF SHAREHOLDERS <BR>
    TO BE HELD AT 10:00 A.M. ON THE 30th DAY OF SEPTEMBER, 2010</B></P>
  <P style="TEXT-ALIGN: justify"><B><I>This information is given as at August 26, 2010</I></B></P>
  <P style="TEXT-ALIGN: justify">This Information Circular is furnished in connection with <B>the solicitation of proxies by the management </B>(the <B>&#147;Management&#148;</B>) <B>of SILVERCORP METALS INC. </B>(the <B>&#147;Company&#148;</B>), for use at the Annual Meeting (the <B>&#147;Meeting&#148;</B>) of the shareholders of the Company, to be held at the time and place and for the purposes set forth in the accompanying Notice of Meeting and at any adjournments thereof.</P>
  <P style="TEXT-ALIGN: justify">In this Information Circular, references to &#147;the Company&#148;, &#147;we&#148; and &#147;our&#148; refer to SILVERCORP METALS INC<B>. </B>&#147;Common Shares&#148; means common shares without par value in the capital of the Company.</P>
  <P style="TEXT-ALIGN: center"><B>SOLICITATION OF PROXIES</B></P>
  <P style="TEXT-ALIGN: justify">This solicitation is made on behalf of Management of the Company. Solicitation of proxies will be conducted by mail, and may be supplemented by telephone or other personal contact to be made without special compensation by directors, officers and employees of the Company or by the Company&#146;s registrar and transfer agent. <B>All costs of solicitation will be borne by the Company.</B></P>
  <P style="TEXT-ALIGN: justify">Unless the context otherwise requires, references herein to &#147;Silvercorp&#148; mean the Company and its subsidiaries. The principal executive office of the Company is located at Suite 1378 &#150; 200 Granville Street, Vancouver, British Columbia, Canada, V6C 1S4. The telephone number is (604) 669-9397, toll free telephone number is 1-888-224-1881, and the facsimile number is (604) 669-9387. The Company&#146;s website address is <FONT color=#000000>www.silvercorp.ca</FONT>. The information on that website is not incorporated by reference into this Information Circular. The registered and records office of the Company is located at Suite 1378 &#150; 200 Granville Street, Vancouver, British Columbia, Canada, V6C 1S4.</P>
  <P style="TEXT-ALIGN: justify">Unless otherwise indicated, all currency amounts stated in this Information Circular are stated in the lawful currency of the United States.</P>
  <P style="TEXT-ALIGN: center"><B>PROXY INSTRUCTIONS</B></P>
  <P style="TEXT-ALIGN: justify"><B>Appointment of Proxyholder(s)</B></P>
  <P style="TEXT-ALIGN: justify">The persons named in the accompanying Form of Proxy are Directors and/or Officers of the Company. <B>A shareholder has the right to appoint some other person, who need not be a shareholder, to represent the shareholder at the Meeting by striking out the names of the persons designated in the accompanying Form of Proxy and by inserting that other person&#146;s name in the blank space provided.</B></P>
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  <P style="TEXT-ALIGN: justify">The instrument appointing a proxyholder must be signed in writing by the shareholder, or such shareholder&#146;s attorney duly authorized in writing. If signed by a duly authorized attorney, the Form of Proxy must be accompanied by the original power of attorney or a notarially certified copy thereof. If the shareholder is a corporation, the instrument appointing a proxyholder must be in writing signed by an officer or attorney of the corporation duly authorized by resolutions of the directors of such corporation, which resolutions must accompany such instrument.</P>
  <P style="TEXT-ALIGN: justify">An instrument of proxy will only be valid if it is duly completed, signed, dated and received at the Company's registrar and transfer agent, Computershare Investor Services Inc. (&#147;<B>Computershare</B>&#148;), in accordance with the instructions provided on the Proxy, not less than forty-eight (48) hours (excluding Saturdays, Sundays and holidays) prior to the time set for the holding of the Meeting, unless the Chairman of the Meeting elects to exercise his discretion to accept proxies received subsequently.</P>
  <P style="TEXT-ALIGN: center"><B>REVOCATION OF PROXIES</B></P>
  <P style="TEXT-ALIGN: justify">A shareholder may revoke a proxy by delivering an instrument in writing executed by the shareholder or by the shareholder&#146;s attorney authorized in writing, or where the shareholder is a corporation, by a duly authorized officer or attorney of the corporation, either at the office of the Company at any time up to and including the last business day preceding the day of the Meeting, or with the consent of the Chairman of the Meeting on the day of the Meeting or on the day of any adjournment thereof, before any vote in respect of which the proxy is to be used shall have been taken. A shareholder may also revoke a proxy by depositing another properly executed instrument appointing a proxyholder bearing a later date with the Company&#146;s registrar and transfer agent in the manner described above, or in any other manner permitted by law. A revocation of a proxy does not affect any matter on which a vote has been taken prior to revocation.</P>
  <P style="TEXT-ALIGN: center"><B>HOW TO VOTE</B></P>
  <P style="TEXT-ALIGN: justify"><B>Only registered shareholders (&#147;Registered Shareholders&#148;) or their duly appointed proxyholders are permitted to vote at the Meeting. </B>Non-Registered Shareholders are not permitted to vote at the Meeting as only proxies from Registered Shareholders can be recognized and voted at the Meeting. You may vote as follows:</P>
  <P style="TEXT-ALIGN: justify"><B><I>Registered Shareholders: </I></B>If you are a Registered Shareholder you may vote by attending the Meeting in person, or if you do not plan to attend the Meeting, by completing the proxy and delivering it according to the instructions contained in the form of proxy and this Management Information Circular.</P>
  <P style="TEXT-ALIGN: justify"><B><I>Non-Registered Shareholders: </I></B>Only registered shareholders of the Company or the persons they appoint as their proxies are permitted to vote at the Meeting. Most shareholders of the Company are &#147;non-registered&#148; shareholders (&#147;Non-Registered Shareholders&#148;) because the Common Shares they own are not registered in their names but are instead registered in the name of the brokerage firm, bank or trust company through which they purchased the Common Shares. Common Shares beneficially owned by a Non-Registered Shareholder are registered either: (i) in the name of an intermediary (an &#147;Intermediary&#148;) that the Non-Registered Shareholder deals with in respect of the Common Shares of the Company (Intermediaries include, among others, banks, trust companies, securities dealers or brokers and trustees or administrators of self-administered RRSPs, RRIFs, RESPs and similar plans); or (ii) in the name of a clearing agency (such as CDS Clearing and D
epository Services Inc. or The Depository Trust &amp; Clearing Corporation) of which the Intermediary is a participant. In accordance with applicable securities law requirements, the Company will have distributed copies of the notice of meeting, this management information circular and the form of proxy (which includes a place to request copies of the Company&#146;s annual and/or interim financial statements and MD&amp;A or to waive the receipt of the annual and/or interim financial statements and MD&amp;A) (collectively, the &#147;Meeting Materials&#148;) to the clearing agencies and Intermediaries for distribution to Non-Registered Shareholders. Intermediaries are required to forward the Meeting Materials to Non-Registered Shareholders unless a Non-Registered Shareholder has waived the right to receive them. Intermediaries often use service companies to forward the Meeting Materials to Non-Registered Shareholders. Generally, Non-Registered Shareholders who have not waived the right to receive Meeting Mater
ials will either:</P>
  <P style="TEXT-ALIGN: center">2</P>
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      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>be given a voting instruction form which is not signed by the Intermediary and which, when properly completed and signed by the Non-Registered Shareholder and returned to the Intermediary or its service company, will constitute voting instructions (often called a &#147;voting instruction form&#148;) which the Intermediary must follow. Typically, the voting instruction form will consist of a one-page pre- printed form. Sometimes, instead of the one-page pre-printed form, the voting instruction form will consist of a regular printed proxy form accompanied by a page of instructions which contains a removable label with a bar-code and other information. In order for the form of proxy to validly constitute a voting instruction form, the Non-Registered Shareholder must remove the label from the instructions and affix it to the form of proxy, properly complete and sign the form of proxy and submit it to the Intermediary or its service company in accordance with the instruction
s of the Intermediary or its service company; or</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(ii)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>be given a form of proxy which has already been signed by the Intermediary (typically by a facsimile, stamped signature), which is restricted as to the number of Common Shares beneficially owned by the Non-Registered Shareholder but which is otherwise not completed by the Intermediary. Because the Intermediary has already signed the form of proxy, this form of proxy is not required to be signed by the Non-Registered Shareholder when submitting the proxy. In this case, the Non-Registered Shareholder who wishes to submit a proxy should properly complete the form of proxy and deposit it with the Company's registrar and transfer agent, Computershare.</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify">In either case, the purpose of these procedures is to permit Non-Registered Shareholders to direct the voting of the Common Shares of the Company they beneficially own. Should a Non-Registered Shareholder who receives one of the above forms wish to vote at the Meeting in person (or have another person attend and vote on behalf of the Non-Registered Shareholder), the Non-Registered Shareholder should strike out the persons named in the form of proxy and insert the Non-Registered Shareholder or such other person&#146;s name in the blank space provided. In either case, Non-Registered Shareholders should carefully follow the instructions of their Intermediary, including those regarding when and where the proxy or voting instruction form is to be delivered.</P>
  <P style="TEXT-ALIGN: justify">A Non-Registered Shareholder may revoke a voting instruction form or a waiver of the right to receive Meeting Materials and to vote which has been given to an Intermediary at any time by written notice to the Intermediary provided that an Intermediary is not required to act on a revocation of a voting instruction form or of a waiver of the right to receive Meeting Materials and to vote which is not received by the Intermediary at least seven days prior to the Meeting.</P>
  <P style="TEXT-ALIGN: center"><B>VOTING OF SHARES AND EXERCISE OF DISCRETION BY PROXIES</B></P>
  <P style="TEXT-ALIGN: justify">If you complete your proxy properly, then the nominee named in the accompanying form of proxy will vote or withhold from voting the Common Shares represented by the proxy in accordance with your instructions. <B>If you do not specify a choice on any given matter to be voted upon your Common Shares will be voted </B><B><U>in favour of </U></B><B>such matter. </B>The proxy grants the nominee the discretion to vote on amendments or variations to matters identified in the Notice of the Meeting and with respect to other matters that may properly come before the Meeting.</P>
  <P style="TEXT-ALIGN: center"><B>INTEREST OF CERTAIN PERSONS IN MATTERS TO BE ACTED UPON</B></P>
  <P style="TEXT-ALIGN: justify">Except as disclosed herein, no Person has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in matters to be acted upon at the Meeting. For the purpose of this paragraph, &#147;Person&#148; shall include each person: (a) who has been a director, executive officer or insider of the Company at any time since the commencement of the Company's last completed financial year; (b) who is a proposed nominee for election as a director of the Company; or (c) who is an associate or affiliate of a person included in subparagraphs (a) or (b).</P>
  <P style="TEXT-ALIGN: center"><B>VOTING SHARES AND PRINCIPAL SHAREHOLDERS</B></P>
  <P style="TEXT-ALIGN: justify">The Company is authorized to issue an unlimited number of Common Shares without par value, each share carrying the right to one vote. As at the date hereof, the Company has issued and outstanding 165,011,041 fully paid and non-assessable Common Shares. <B>The Company has no other classes of securities</B>.</P>
  <P style="TEXT-ALIGN: center">3</P>
</DIV>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The directors of the Company have fixed August 26, 2010, as the record date for the determination of shareholders entitled to receive the Notice of Meeting and to vote at the Meeting. Any such shareholder who either personally attends the Meeting or has completed and delivered a form of proxy in the manner and subject to the provisions described above shall be entitled to vote or to have his or her Common Shares voted at the Meeting.</P>
  <P style="TEXT-ALIGN: justify">On a show of hands, every individual who is present as a Registered Shareholder or as a representative of a Registered Shareholder will have one vote (no matter how many shares such registered shareholder holds). On a poll, every Registered Shareholder present in person or represented by a proxy and every person who is a representative of a Registered Shareholder will have one vote for each Common Share registered in the name of the Registered Shareholder on the list of Registered Shareholders, which is available for inspection during normal business hours at Computershare and at the Meeting. Registered Shareholders represented by proxy holders are not entitled to vote on a show of hands.</P>
  <P style="TEXT-ALIGN: justify">To the knowledge of the directors and executive officers of the Company, there are no persons who, or companies that beneficially owned, or controlled or directed, directly or indirectly, Common Shares carrying more than 10% of the voting rights attached to all outstanding Common Shares of the Company as at August 26, 2010.</P>
  <P style="TEXT-ALIGN: center"><B>NUMBER OF DIRECTORS</B></P>
  <P style="TEXT-ALIGN: justify">Management of the Company is seeking shareholder approval of an ordinary resolution fixing the number of directors of the Company at six for the ensuing year.</P>
  <P style="TEXT-ALIGN: center"><B>ELECTION OF DIRECTORS</B></P>
  <P style="TEXT-ALIGN: justify">Management intends to propose for adoption an ordinary resolution that the number of directors of the Company be fixed at six. If there are more nominees for election than there are vacancies to fill, those nominees receiving the greatest number of votes will be elected until all such vacancies have been filled.</P>
  <P style="TEXT-ALIGN: justify">Each director of the Company is elected annually and holds office until the next Annual General Meeting of the shareholders, or until his successor is elected or appointed, unless that person&#146;s office is earlier vacated in accordance with the Articles of the Company or with the provisions of the <I>Business Corporations Act </I>(British Columbia) (the &#147;<B>BCBCA</B>&#148;). Management has received written consent from all director nominees of their willingness and ability to serve as a director. Each director nominee has also agreed that if the number of Common Shares withheld exceeds the number of Common Shares voted in favour, the director nominee shall be considered not to have received support of the shareholders and will tender his or her resignation. In the absence of instructions to the contrary, the accompanying form of proxy will be voted for the nominees herein listed.</P>
  <P style="TEXT-ALIGN: justify">The following table sets out the names of management&#146;s nominees for election as directors, the municipality and province or state, and country in which each is ordinarily resident, all offices of the Company now held by each of them, each nominee&#146;s principal occupation, business or employment, the period of time for which each nominee has served as a director of the Company, and the number of Common Shares of the Company that each nominee beneficially owned, or controlled or directed, directly or indirectly, as of August 26, 2010.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''Times New Roman'''''" cellSpacing=0 border=0>
      <TR>
        <TD vAlign=top width="20%"></TD>
        <TD vAlign=top width="20%"></TD>
        <TD vAlign=top width="20%"></TD>
        <TD vAlign=top width="20%"></TD>
        <TD vAlign=top width="20%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Name and </B><B>Municipality</B>&nbsp;<B>of Residence</B><B><SUP>(1)</SUP></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Current </B><B>Positions and Offices Held</B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Principal Occupations During Last Five Years<B><SUP>(1)</SUP></B><B><SUP>(2)</SUP></B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Date of </B><B>Appointment</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Shares </B><B>Beneficially <B>Owned <B><SUP>(4)</SUP></B></B></B></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Dr. Rui Feng<BR>
          West Vancouver, BC Canada&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Chairman, Chief Executive Officer and Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Chairman and CEO of the Company from September 2003 to present; Director of New Pacific Metals Corp. since May 2004 and President since May 2010;&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>September 4, 2003&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>4,009,800</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: center">4</P>
</DIV>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''''Times New Roman'''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=2><B>Name and </B><B>Municipality </B><B>of Residence</B><B><SUP>(1)</SUP></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=2><B>Current </B><B>Positions and </B><B>Offices Held</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=2><B>Principal Occupations During Last Five </B><B>Years</B><B><SUP>(1)(2)</SUP></B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=2><B>Date of </B><B>Appointment </B><B>as a Director</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=2><B>Shares </B><B>Beneficially <B>Owned </B></B><B><SUP>(4)</SUP></B></TD>
      </TR>
      <TR vAlign=bottom></TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Myles Jianguo Gao<BR>
          Burnaby, BC Canada</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>President, COO and Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>President and COO of the Company since March 2003; Director of New Pacific Metals Corp. September 2004 to July 2006.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>November 14, 2002&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>1,260,649</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>S. Paul Simpson <SUP>(5)(6)(7)</SUP><BR>
          Vancouver, BC Canada</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Lawyer with Armstrong Simpson, Barristers &amp; Solicitors.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>June 24, 2003&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>856,405</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Earl Drake<SUP>(3)(5)</SUP><BR>
          Vancouver, BC Canada</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Vice Chairman Emeritus of the Canada China Business Council; Adviser to the China Council on Environment &amp; Development and Adjunct Professor at Simon Fraser University. Prior to settling in Vancouver, Mr. Drake spent many years abroad as Canadian Ambassador to China and Indonesia, Executive Director at the World Bank in Washington and diplomat at the OECD in Paris and embassies in&nbsp;Malaysia and Pakistan. In Ottawa, he served as Assistant Deputy Minister at the Department of External Affairs and Vice&nbsp;President at Canadian International Development Agency.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>July 24, 2006&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>23,000</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Yikang Liu<SUP>(3)(5)</SUP><BR>
          Beijing, China</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Deputy Secretary General of China Mining Association since May 2001; Director of New Pacific Metals Corp. September 2004 to July 2006.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>July 24, 2006&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>117,600</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Robert Gayton<SUP>(3)(8)</SUP><BR>
          West Vancouver, BC, Canada</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Director of each of Nevsun Resources Ltd., Amerigo Resources Ltd., Palo Duro Energy Inc., B2Gold Corp., Quaterra Resources Inc., Western Copper Corp., Eastern Platinum Ltd. and Trans National Minerals Inc.; Director of each of Western Silver Corporation from 2004 to 2005,&nbsp;Bema Gold Corporation from 2003 to<BR>
          2007, Northern Orion Resources Inc. from 2004 to 2007 and Doublestar Resources from 2000 to 2007.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>September 30, 2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>2000</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: '''''''Times New Roman'''''''" cellSpacing=0 border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">The information as to municipality of residence and principal occupation of each nominee and Common Shares beneficially owned, directly or indirectly, or controlled is not within the knowledge of the management of the Company and has been individually furnished by the respective nominee.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(2)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Includes occupations for the preceding 5 years unless the director was elected at the previous Annual Meeting and was shown as a nominee for election as a director in the Information Circular for that meeting.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(3)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Member of Audit Committee.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(4)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">The approximate number of Common Shares of the Company carrying the right to vote in all circumstances beneficially owned, or controlled or directed, directly or indirectly, is based upon information furnished to the Company by each proposed nominee as at the date hereof.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(5)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Member of Corporate Governance Committee and Compensation Committee.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(6)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Mr. Simpson is Corporate Secretary of Salmon River Resources Ltd. (formerly WPI Gold Ltd.) (&#147;WPI&#148;). As a result of failure to file financial statements on time, WPI was the subject of Cease Trade Orders (&#147;CTOs&#148;) issued by the Alberta Securities Commission (&#147;ASC&#148;) April 4, 2003 (revoked May 15, 2004) and December 5, 2003 (revoked on October 31, 2005), and the British Columbia Securities Commission (&#147;BCSC&#148;) issued a CTO against WPI November 25, 2003, (revoked February 9, 2004). Revocations of the CTOs were issued when appropriate materials were filed.</FONT></P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: center">5</P>
</DIV>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''''Times New Roman''''''''" cellSpacing=0 border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(7)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Mr. Simpson was also the Corporate Secretary of Tournigan Ventures Corporation (now named Tournigan Gold Corporation) (&#147;TVC&#148;) on January 21, 2002, when the BCSC issued a CTO against TVC for failure to file its audited financial statements and supporting documentation within the time provided. Upon raising necessary funds to pay the auditors, financial statements were completed and filed and the CTO was lifted by the BCSC on April 23, 2002, and by the ASC on May 10, 2002.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(8)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Robert Gayton, a director of the Company, was a director and officer of Newcoast Silver Mines Ltd. at the date of a CTO issued by the BCSC on September 30, 2003, and by the ASC on October 31, 2003, for failure to file financial statements. The orders were revoked on October 23, 2003, and March 25, 2004, respectively.</FONT></P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify">As at the date of this Information Circular and within the 10 years before the date of this Information Circular, except as disclosed above, no proposed director:</P>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''''Times New Roman''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>is or has been a director, chief executive officer or chief financial officer of any company (including the Company), that while that person was acting in that capacity:</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
  </TABLE>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''''Times New Roman''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="88%"><P align=justify>was the subject of a cease trade order or similar order or an order that denied the relevant company access to any exemption under securities legislation, for a period of more than 30 consecutive days;</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="88%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">ii.&nbsp; &nbsp; &nbsp; </TD>
      <TD width="88%"><P align=justify>was subject to an event that resulted, after the director, chief executive officer or chief financial officer, ceased to be a director or executive officer, in the company being the subject of a cease trade or similar order or an order that denied the relevant company access to any exemption under securities legislation, for a period of more than 30 consecutive days;</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="88%"></TD>
    </TR>
  </TABLE>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''''Times New Roman''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>is or has been a director or executive officer of any company (including the Company), that while that person was acting in that capacity, or within a year of that person ceasing to act in that capacity, became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold its assets; or</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(c)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>has within 10 years before the date of the Information Circular became bankrupt, made a proposal under any legislation relating to bankruptcy or insolvency or was subject to or instituted any proceedings, arrangement or compromise with creditors or had a receiver, receiver manager or trustee appointed to hold the assets of the proposed director.</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify">Except as disclosed above, no proposed director of the Company has been subject to: (a) any penalties or sanctions imposed by a court relating to securities legislation or by a securities regulatory authority or has entered into a settlement agreement with a securities regulatory authority; or (b) any other penalties or sanctions imposed by a court or regulatory body that would likely be considered important to a reasonable securityholder in deciding whether to vote for a proposed director.</P>
  <P style="TEXT-ALIGN: center"><B>CORPORATE GOVERNANCE</B></P>
  <P style="TEXT-ALIGN: justify"><B>Board of Directors</B></P>
  <P style="TEXT-ALIGN: justify">In compliance with the requirements of the BCBCA, the directors are elected by the shareholders to manage, or supervise the management of, the business and affairs of the Company. In exercising their powers and discharging their duties, the directors are required to act honestly and in good faith with a view to the best interests of the Company, and to exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.</P>
  <P style="TEXT-ALIGN: justify">The Board has adopted a description of how it delineates its roles and stewardship responsibilities in The Board of Director Charter, which is attached hereto as Schedule &#147;1&#148;. This description incorporates the guidelines and principles outlined in <I>National Instrument 52-110 &#150; Audit Committees </I>(&#147;<B>NI 52-110</B>&#148;), <I>National Instrument 58-101 -Disclosure of Corporate Governance Practices </I>(&#147;<B>NI 58-101</B>&#148;) and <I>National Policy 58-201 - Corporate Governance Guidelines </I>(&#147;<B>NP 58-201</B>&#148;).</P>
  <P style="TEXT-ALIGN: center">6</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_7"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The Board believes that good corporate governance is important to the effective performance of the Company and plays a significant role in protecting shareholders&#146; interests and maximizing value for the shareholders of the Company.</P>
  <P style="TEXT-ALIGN: justify">The disclosure regarding the Company&#146;s corporate governance practices that is required by NI 58-101 is set out in Appendix &#147;A&#148; to this Information Circular.</P>
  <P style="TEXT-ALIGN: justify"><B>Summary of Attendance of Directors</B></P>
  <P style="TEXT-ALIGN: justify">The following table sets out the attendance of directors at Board meetings and meetings of the committees of the Board of which they were members during the year ended March 31, 2010:</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
        <TD width="20%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center colSpan=5><B>Meeting(s) Attended in the Most Recently Completed Financial Year&nbsp;</B></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Director</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center><B>Board</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center><B>Corporate </B><B>Governance </B><B>Committee</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center><B>Compensation </B><B>Committee</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center><B>Audit Committee</B>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>6 Meetings&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>3 Meetings&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>2 Meetings&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>5 Meetings&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Dr. Rui Feng,&nbsp;Director, Chairman &amp; CEO&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>N/A&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Myles Gao,&nbsp;Director, President &amp; COO&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>N/A&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>S. Paul Simpson, Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>3 out of 3&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>2 out of 2&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>N/A&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Greg Hall, Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>5 out of 5&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Earl Drake, Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>3 out of 3&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>2 out of 2&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>4 out of 5&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Yikang Liu, Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>3 out of 3&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>2 out of 2&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=center>5 out of 5&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Robert Gayton, Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>6 out of 6&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>5 out of 5&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: center"><B>CORPORATE GOVERNANCE COMMITTEE</B></P>
  <P style="TEXT-ALIGN: justify">The Corporate Governance Committee is responsible for assisting the Board in establishing and maintaining a sound system of corporate governance through a process of continuing assessment and enhancement. The Corporate Governance Committee works to ensure that the Board functions independently of management, that management is clearly accountable to the Board, and that procedures are in place to monitor the effectiveness of the performance of the Board, the Committees of the Board and individual directors. The Corporate Governance Committee Charter is attached hereto as Schedule &#147;2&#148;.</P>
  <P style="TEXT-ALIGN: center"><B>COMPENSATION COMMITTEE</B></P>
  <P style="TEXT-ALIGN: justify">The Compensation Committee is responsible for determining and approving compensation for directors and senior officers. The Compensation Committee Charter is attached hereto as Schedule &#147;3&#148;.</P>
  <P style="TEXT-ALIGN: justify">The Corporate Governance Committee and the Compensation Committee are both comprised of Paul Simpson, Earl Drake, and Yikang Liu, all of whom are independent directors pursuant to NI 52-110.</P>
  <P style="TEXT-ALIGN: center"><B>AUDIT COMMITTEE</B></P>
  <P style="TEXT-ALIGN: justify">For information regarding the Audit Committee, see the Company&#146;s annual information form (the &#147;AIF&#148;) dated June 15, 2010, under the heading &#147;Audit Committee&#148;, including a copy of the Audit Committee Charter which is attached to the AIF as Schedule &#147;1&#148;. The AIF is available under the Company&#146;s profile at <FONT color=#400040>www.sedar.com</FONT>.</P>
  <P style="TEXT-ALIGN: center">7</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_8"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The Corporate Governance, Compensation Committee and Audit Committee will be re-constituted after the Meeting.</P>
  <P style="TEXT-ALIGN: center"><B>EXECUTIVE COMPENSATION</B></P>
  <P style="TEXT-ALIGN: justify"><B>Executive Compensation</B></P>
  <P style="TEXT-ALIGN: justify">The following table sets forth a summary of the total compensation during the three most recently completed financial years paid to the Company&#146;s Chief Executive Officer, Chief Financial Officer, and the three other most highly compensated executive officers, or the three most highly compensated individuals acting in a similar capacity, other than the Chief Executive Officer and Chief Financial Officer, at the end of the most recently completed financial year whose total compensation was, individually, more than CAD$150,000 and any additional individuals who satisfy these criteria but for the fact that individual was not serving as an officer, nor acting in a similar capacity, at the end of the most recently completed financial year, hereinafter referred to as the Named Executive Officers (the &#147;NEOs&#148;).</P>
  <P style="TEXT-ALIGN: justify"><B>Summary Compensation Table</B></P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''Times New Roman''''" cellSpacing=0 border=0>
      <TR>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Name and Principal Position&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Fiscal Year Ended March 31, 2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Salary<BR>
          ($)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Share-Based Awards<BR>
          ($)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Option- Based<BR>
          Awards<BR>
          ($)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center colSpan=2 rowSpan=2>Non-Equity Incentive Plan Compensation<BR>
          ($)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Pension Value<BR>
          ($)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>All Other Compensation<BR>
          ($)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center rowSpan=2>Total Compensation<BR>
          ($)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom></TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Annual Incentive Plans&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Long Term Incentive Plans&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=3>Dr. Rui Feng<BR>
          Chairman, CEO, and Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>541,865<SUP>(6,7,8)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>320,180<SUP>(1)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>862,045&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>409,449<SUP>(1)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>409,449&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>571,110<SUP>(6,7,8)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>270,695<SUP>(1)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>841,805&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=3>Myles Gao<BR>
          President, COO, and Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>416,819<SUP>(6,7,9)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>237,871<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>654,690&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>290,305<SUP>(6,7,9)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>218,642<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>508,947&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>571,110<SUP>(6,7,9)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>202,449<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>773,559&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=3>Shaoyang Shen<SUP>(3), <BR>
          </SUP>VP, China Operations</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>142,911<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>155,447<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>298,358&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>118,018<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>88,378<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>206,396&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>33,908<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>193,131<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>297,488&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=3>Maria Tang<SUP>(5)</SUP><BR>
          CFO</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>137,564<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>166,728<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>304,292&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>61,479<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>71,023<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>132,502&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=3>Lorne Waldman<SUP>(4)</SUP><BR>
          Corporate Secretary</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>151,014<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>166,728<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>317,742&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>145,597<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>87,092<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>232,689&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>79,871<SUP>(6)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>139,944<SUP>(6,7)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>219,815&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: center">8</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_9"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Consulting fees payable to a firm controlled by Dr. Rui Feng pursuant to a Consulting Agreement dated May 1, 2003, and reviewed and adjusted annually by the Board of Directors. The consulting fee was paid in Canadian dollars and was translated into US dollars using a quarterly average rate. The average translation rates between US dollars and Canadian dollars used for fiscal 2010, 2009, and 2008 are 1.0904, 1.110, and 1.0322, respectively. No compensation was paid to Dr. Rui Feng for his services as a director of the Company in 2010, 2009 or 2008.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(2)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Consulting fees payable to Myles Gao and to a firm controlled by Myles Gao pursuant to a Consulting Agreement dated March 1, 2004, and reviewed and adjusted annually by the Chief Executive Officer. The consulting fee was paid in Canadian dollars and was translated into US dollars using a quarterly average rate. The average translation rates between US dollars and Canadian dollars for fiscal 2010, 2009 and 2008 were 1.0904, 1.110, and 1.0322, respectively. No compensation was paid to Myles Gao for his services as a director of the Company in 2010, 2009, or 2008.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(3)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Shaoyang Shen was appointed as General Manager of the Company in January 2008 and then Vice President, China Operations of the Company in 2009.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(4)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Lorne Waldman was appointed as Corporate Secretary of the Company in September 2007.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(5)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Maria Tang was appointed as Interim CFO of the Company in October 2008 and confirmed as CFO on August 13, 2010.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(6)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Salary is paid in Canadian dollars and option-based awards are calculated in Canadian dollars. Salary and option-based awards are translated into US dollars using the annual average exchange rate. The translation rates used for fiscal 2010, 2009 and 2008 are 1.0904, 1.1264 and 1.0322, respectively.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(7)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">The Company has adopted CICA 3870 Stock-Based Compensation and Other Stock-Based Payments to account for the issuance of stock options to employees and non-employees. The fair value of stock options is estimated at the grant date using the Black-Scholes Option Pricing Model which requires the input of a number of assumptions. Although the assumptions used reflect management&#146;s best estimates, they involve inherent uncertainties based on market conditions generally outside of the control of the Company. The following summarizes the key assumptions used to calculate the fair value of each set of options granted in each fiscal year ended March 31:</FONT></P></TD>
    </TR>
  </TABLE><BR>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
        <TD width="10%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Name</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Year of options granted</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;Grant date </TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;Options granted&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Exercise price&nbsp;<BR>
          (CAD$) </TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>&nbsp;Expired date</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Weighted average&nbsp;expected lives (years)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Weighted average risk free rates</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Weighted average volitilities</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Weighted average fair value per option<BR>
          (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=3>Reui Feng</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>195,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>97,500&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>11-Apr-07&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>150,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>6.74&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>10-Apr-12&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.50&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>4.11%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>91%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.93&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=4>Myles Gao</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>150,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>75,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2-Jul-08&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>100,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>5.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1-Jul-13&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>4.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.42%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>91%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.27&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>11-Apr-07&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>150,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>6.74&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>10-Apr-12&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.50&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>4.11%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>91%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.93&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=4>Shaoyang Shen</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>50,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2-Jul-08&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>5.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1-Jul-13&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>4.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.42%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>91%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.27&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>16-Jan-08&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>45,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>9.05&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>16-Jan-13&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.50&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.36%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>72%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>4.43&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=3>Maria Tang</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>60,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1-Oct-08&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>50,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>3.05&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1-Oct-13&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>4.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>2.04%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>76%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>1.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=4>Lorne Waldman</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>60,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2010&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2009&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2-Jul-08&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>5.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1-Jul-13&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>4.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.42%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>91%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.27&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2008&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>2-Oct-07&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>45,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>6.95&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>1-Oct-12&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.50&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>4.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>71%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>3.21&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD width="4%">&nbsp;</TD>
      <TD width="96%"><P align=justify>*All options granted to the above Named Executive Officers vest over a three year period, with 8.3% of the options vesting every quarter.</P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(8)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>Of this amount the following amounts were compensation to Dr. Rui Feng for his services as a director of the Company: $Nil (2010), $Nil (2009), and $Nil (2008).</P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(9)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>Of this amount the following amounts were compensation to Myles Gao for his services as a director of the Company: $Nil (2010), $Nil (2009), and $Nil (2008).</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: center">9</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_10"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify"><B>Outstanding Share-Based Awards and Option-Based Awards</B></P>
  <P style="TEXT-ALIGN: justify">The following table summarizes awards outstanding at fiscal year ended March 31, 2010, for each NEO.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''''Times New Roman'''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid" noWrap align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid" vAlign=top noWrap align=center colSpan=4>Option-Based Awards</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid" vAlign=top noWrap align=center colSpan=2>Share-Based Awards&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Name&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Number of Securities Underlying Unexercised Options&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Option Exercise Price<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Option Expiration Date&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Value of Unexercised In-The-Money Options <SUP>(1)</SUP><BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Number of Shares or Units of Shares that have not Vested (#)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Market or Payout Value of Share- Based Awards that have not Vested (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=3>Dr. Rui Feng<BR>
          Chairman, CEO and Director</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>195,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>842,400&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>150,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>6.74&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>10-Apr-2012&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>34,950&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>97,500&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>05-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=4>Myles Gao<BR>
          COO, President and Director</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>150,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>6.74&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>10-Apr-2012&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>34,950&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>100,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>5.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>01-Jul-2013&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>98,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>150,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>648,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>75,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>05-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=4>Shaoyang, Shen<BR>
          VP, China Operations</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>45,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>9.05&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>16-Jan-2013&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>01-Jul-2013&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>29,400&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>50,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>216,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>05-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left rowSpan=3>Maria Tang<BR>
          CFO</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>50,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.05&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>01-Oct-2013&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>196,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>60,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>259,200&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>05-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left rowSpan=4>Lorne Waldman<BR>
          Corporate Secretary</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>45,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>6.95&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>01-Oct-2012&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>900&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>01-Jul-2013&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>29,400&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>60,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>259,200&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>05-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: '''''''Times New Roman'''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">(1)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The closing price of the Company&#146;s Common Shares on the Toronto Stock Exchange (the &#147;TSX&#148;) on March 31, 2010, was CAD$6.97.</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify"><B>Incentive Plan Awards &#150; Value Vested or Earned during the Year</B></P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''''Times New Roman'''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="25%"></TD>
        <TD width="25%"></TD>
        <TD width="25%"></TD>
        <TD width="25%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Name&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=center>Option-Based Awards &#150;<BR>
          Value vested during the year<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=center>Share-Based Awards &#150;<BR>
          Value vested during the year<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=center>Non-Equity Incentive Plan<BR>
          Compensation &#150; Value earned<BR>
          during the year<BR>
          (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Dr. Rui Feng<BR>
          Chairman, CEO and Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>169,750&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 29px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Myles Gao<BR>
          COO, President and Director&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>125,453&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 29px; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Shaoyang Shen<BR>
          VP, China Operations&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>37,741&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 29px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Maria Tang<BR>
          CFO&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>69,765&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 29px; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Lorne Waldman<BR>
          Corporate Secretary&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>45,475&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 29px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD align=center colSpan=4><BR>
          10</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
</DIV>
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  <P style="TEXT-ALIGN: justify"><B>Option Repricing</B></P>
  <P style="TEXT-ALIGN: justify">There were no options held by the NEOs that were repriced during the most recently completed financial year; however, the Board of Directors, in an effort to encourage the CEO to exercise stock options and to continue to hold Common Shares on a tax deferred basis extended the expiry date by three months on 190,000 employee stock options granted to Dr. Rui Feng, the CEO of the Company, on October 24, 2004, at an exercise price of CAD$0.18 and with an expiry date of October 24, 2009. The fair value of stock option extension is estimated at the date the extension was proposed by the Compensation Committee using the Black-Scholes Option Pricing Model which requires the input of a number of assumptions and is estimated at $3,800. Shareholders passed a resolution to approve this extension of the expiry date at the 2009 Annual Shareholders Meeting.</P>
  <P style="TEXT-ALIGN: justify"><B>Pension Plan Benefits</B></P>
  <P style="TEXT-ALIGN: justify">The Company does not provide any pension plan benefits.</P>
  <P style="TEXT-ALIGN: justify"><B>Termination of Employment, Changes in Responsibility &amp; Employment Contracts</B></P>
  <P style="TEXT-ALIGN: justify"><B><I>Employment Contracts</I></B></P>
  <P style="TEXT-ALIGN: justify">The Company does not have any employment contracts with the NEOs other than as disclosed below.</P>
  <P style="TEXT-ALIGN: justify"><U>Dr. Rui Feng, Chairman, Chief Executive Officer and Director</U></P>
  <P style="TEXT-ALIGN: justify">Dr. Rui Feng entered into a consulting agreement with SKN Resources Ltd. (the former name of the Company) dated May 1, 2003, to provide the following services: assisting in introducing Company management and personnel to Chinese geological personnel; assisting in reviewing and acquiring mineral properties in China; and assisting in negotiating agreements, including mining agreements. Dr. Rui Feng&#146;s consultancy fee, as stipulated under the agreement was initially CAD$700 per day, plus applicable taxes, for each day services were provided to the Company. In addition, the agreement provides Dr. Rui Feng with incentive stock options, finder&#146;s fees or bonuses, in amounts to be determined by the Board of Directors, for bringing mineral resource acquisition opportunities to the Company. All travel and other expenses incurred in connection with the provision of services are reimbursable.</P>
  <P style="TEXT-ALIGN: justify">Dr. Rui Feng is prohibited, during the term of the agreement and for a period of two (2) years thereafter, from acquiring any interest, direct or indirect, through associates or affiliates, in any exploration concessions, mining claims, leases, mining rights, interest in land, fee lands, surface rights or water rights within ten (10) kilometres of any property in which the Company has an interest at the time of execution of, or acquires during the term of, the agreement. Under the agreement either party may terminate the agreement for any reason upon 30 days written notice.</P>
  <P style="TEXT-ALIGN: justify">The initial term of the agreement was one year without any formal renewal provisions. The agreement has been renewed and Dr. Rui Feng&#146;s current billing rate is CAD$2,380.95 per day, as approved by the Board of Directors of the Company.</P>
  <P style="TEXT-ALIGN: justify"><U>Myles Gao, President, Chief Operating Officer and Director</U></P>
  <P style="TEXT-ALIGN: justify">Myles Gao entered into a consulting agreement with SKN Resources Ltd. (the former name of the Company) dated March 1, 2004, to provide services ancillary to the office of President by a company customarily listed on the TSX Venture Exchange.</P>
  <P style="TEXT-ALIGN: justify">Myles Gao&#146;s consultancy fee, as stipulated under the agreement, was initially CAD$10,000 per month, plus applicable taxes. In addition, the agreement provides Myles Gao with incentive stock options, in amounts to be determined by the Board of Directors. All travel and other expenses properly incurred in connection with the provision of services are reimbursable.</P>
  <P style="TEXT-ALIGN: center">11</P>
</DIV>
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<BR>
<A name="page_12"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">Myles Gao is prohibited, during the term of the agreement and for a period of two (2) years thereafter, from acquiring any interest, direct or indirect, through associates or affiliates, in any exploration concessions, mining claims, leases, mining rights, interest in land, fee lands, surface rights or water rights within ten (10) kilometres of any property in which the Company has an interest at the time of execution of, or acquires during the term of, the agreement.</P>
  <P style="TEXT-ALIGN: justify">The initial term of the agreement was one year without any formal renewal provisions. The agreement has been renewed and Myles Gao&#146;s current billing rate is CAD$21,875 per month, as approved by the Chief Executive Officer of the Company.</P>
  <P style="TEXT-ALIGN: justify">Under the terms of the agreement, either party may terminate the agreement upon thirty (30) days written notice to the other party, with no obligations of the Company to Myles Gao, other than for services performed up to the date of the termination.</P>
  <P style="TEXT-ALIGN: justify"><U>Shaoyang Shen, Vice President, China Operations</U></P>
  <P style="TEXT-ALIGN: justify">Shaoyang Shen has a two-year employment agreement with the Company as Vice President, China Operations commencing January 2, 2010, at a base salary of $140,000 per year. Shaoyang Shen is entitled to two weeks vacation annually, reimbursement of reasonable expenses incurred in connection with the performance of duties, and stock options and bonuses. The agreement may be terminated by the Company or Shaoyang Shen upon one month&#146;s notice. Shaoyang Shen has also agreed to a &#147;Non-Competition Period&#148; of twelve (12) months after the termination of his employment agreement.</P>
  <P style="TEXT-ALIGN: justify"><U>Maria Tang, Chief Financial Officer</U></P>
  <P style="TEXT-ALIGN: justify">Silvercorp entered into an employment agreement to engage Maria Tang as Chief Accountant of the Company effective October 1, 2008, at a base salary of CAD$145,000 per annum, to be reviewed annually, and her current salary is $160,000 per annum. Maria Tang is entitled to three weeks vacation annually, reimbursement of reasonable expenses incurred in connection with the performance of duties, and stock options and bonuses. The agreement may be terminated by the Company or Maria Tang upon one month&#146;s notice within the first year and an additional month&#146;s notice thereafter for each full or partial year of employment completed. Maria Tang assumed the title of Interim Chief Financial Officer upon the resignation of the prior Chief Financial Officer and was confirmed as Chief Financial Officer as of August 13, 2010. Maria Tang has also agreed to a &#147;Non-Competition Period&#148; of twelve (12) months after the termination of her employment agreement.</P>
  <P style="TEXT-ALIGN: justify"><U>Lorne Waldman, Corporate Secretary</U></P>
  <P style="TEXT-ALIGN: justify">Silvercorp entered into an employment agreement to engage Lorne Waldman as Corporate Secretary, effective September 10, 2007, at a base salary of CAD$130,000 per annum, to be reviewed annually. The base salary has since been increased to $168,000 per annum. Lorne Waldman is entitled to four weeks vacation annually, reimbursement of reasonable expenses incurred in connection with the performance of duties, and stock options and bonuses. The agreement may be terminated by Lorne Waldman upon one month&#146;s notice, and by the Company without just cause with a termination payment equal to four months adjusted base salary, increasing after four years of service by one additional month per year of service up to a maximum of twelve (12) months.</P>
  <P style="TEXT-ALIGN: justify"><B><I>Change of Control Agreements</I></B></P>
  <P style="TEXT-ALIGN: justify">The Company has entered into Change of Control Agreements with each of Dr. Rui Feng, Myles Gao, Maria Tang and Lorne Waldman. The terms of the Change of Control Agreements provide that if an executive officer&#146;s employment agreement or consulting agreement, as applicable, is terminated, other than for cause, within 18 months after a Change of Control, the executive officer shall be entitled to a lump sum payment equal to 18 months base compensation (24 months for Dr. Rui Feng), plus other sums owed for arrears of compensation and if awarded, bonus, continuation of benefits for 18 months (24 months for Dr. Rui Feng), and immediate vesting of all outstanding stock options.</P>
  <P style="TEXT-ALIGN: center">12</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_13"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The Change of Control Agreements deem a &#147;Change of Control&#148; to occur if: (i) a merger, amalgamation, arrangement, consolidation, reorganization or transfer takes place in which equity securities of the Company possessing more than 50% of the total voting power of the Company are acquired by a person or persons different from the persons holding those equity securities immediately prior to such transaction, and the composition of the Board of Directors following such transaction is such that the directors of the Corporation prior to the transaction constitute less than 50% of the Board membership following the transaction; (ii) any person, or any combination of persons acting jointly or in concert shall acquire or hold, directly or indirectly, 25% or more of the voting rights attached to all outstanding equity securities; (iii) any person, or any combination of persons acting jointly or in concert shall acquire or hold, directly or indirectly, the right to appoint a 
majority of the directors of the Company; or (iv) if the Company sells, transfers or otherwise disposes of all or substantially all of its assets.</P>
  <P style="TEXT-ALIGN: justify"><B><I>Quantified Impact of Termination and Change of Control Provisions</I></B></P>
  <P style="TEXT-ALIGN: justify">If a change of control of the Company had occurred on March 31, 2010, the total estimated cash cost to the Company of related payments to the NEOs is estimated at <B>CAD$1,813,500. </B>The following table shows estimated incremental payments in Canadian dollars triggered pursuant to termination of employment of a Named Executive Officer in accordance with the termination provisions described above:</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="33%"></TD>
        <TD width="33%"></TD>
        <TD width="33%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>&nbsp;<STRONG>Name</STRONG>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center><B>Termination Without Cause Under </B><B>Employment Agreement Provision</B>&nbsp;<B>Value <B><SUP>(1)(2)(3)</SUP></B></B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center><B>Termination on Change of Control </B><B>Provision Value</B><B><SUP>(1)(2)(3)</SUP></B>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Dr. Rui Feng&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=center>$28,500&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=center>$684,000&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Myles Gao&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=center>$20,833&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=center>$397,500&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Maria Tang&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=center>$13,333&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=center>$240,000&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Lorne Waldman&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=center>$67,333&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=center>$252,000&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(1)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">The termination values assume that the triggering event took place on the last business day of the Corporation&#146;s financial year-end (March 31, 2010).</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">The accelerated option-based award value on the last business day of the Corporation&#146;s year-end (March 31, 2010) was calculated based on the difference between the value of the options that would have vested and the closing price of the Company&#146;s Common Shares on the TSX on March 31, 2010, of CAD$6.97.</FONT></P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"><FONT style="FONT-SIZE: 8pt">(3)&nbsp; &nbsp; &nbsp; </FONT></TD>
      <TD width="96%"><P align=justify><FONT style="FONT-SIZE: 8pt">Value of earned/unused vacation and amounts owing for expense reimbursement are not included as they are not considered &#145;&#145;incremental&#146;&#146; payments made in connection with termination of employment.</FONT></P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify"><B>Compensation Discussion and Analysis</B></P>
  <P style="TEXT-ALIGN: justify">During the 2010 fiscal year, total compensation paid to the Named Executive Officers has increased to $2,437,127 from $1,495,274 in Fiscal 2009 and $2,098,759 in Fiscal 2008. During the 2010 fiscal year, total compensation paid to the Named Executive Officers has increased primarily as a result of: (i) the reduced value of stock option grants in Fiscal 2009 as a result of a significant drop in the price of the Company&#146;s common shares during the financial crisis; (ii) the Chairman declined a grant of employee stock options, gave up cash compensation offered in lieu of options, and did not receive any bonus in fiscal 2009; and (iii) the reversal of a 5% reduction in base compensation imposed at the end of the 2008 calendar year when the world emerged from the financial crisis in the summer of 2009.</P>
  <P style="TEXT-ALIGN: justify">The Company&#146;s executive compensation program is overseen by the Compensation Committee of the Board of Directors. See &#147;Compensation Committee&#148; for a description of the composition of the Corporate Compensation Committee. The Committee is responsible for making recommendations to the Board with respect to the compensation of executive officers of the Company as well as with respect to the Company&#146;s stock option plan. The Committee also assumes responsibility for reviewing and monitoring the long-range compensation strategy for the senior management of the Company.</P>
  <P style="TEXT-ALIGN: center">13</P>
</DIV>
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<A name="page_14"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">In carrying out this mandate, the Committee assesses on an annual basis the performance of the CEO, relative to both industry performance and overall Company performance, and compares total compensation to compensation paid by comparable companies.</P>
  <P style="TEXT-ALIGN: justify">In compensating its executive officers, packages are structured to enhance shareholder value and provide incentives that are commensurate with desired performance. The Company has employed a combination of base compensation and equity participation through its stock option plan. In addition, the Company from time to time awards some of the executive officers, or companies controlled by executive officers, performance bonuses for the year. The Company does not offer securities purchase programs, shares or units that are subject to restrictions on resale or other incentive plans, and, except for stock options, focuses on annual, rather than long-term, compensation.</P>
  <P style="TEXT-ALIGN: justify">The Compensation Committee attempts to ensure that the compensation packages for executive officers and the overall equity participation plan are in line with publicly listed mining and mineral exploration companies of a comparable size and with operations at a similar or a more advanced stage. The Corporate Compensation Committee does not rely on any formula, or objective criteria and analysis to determine an exact amount of compensation to pay. Compensation decisions are made through discussion by the Corporate Compensation Committee, with input from the CEO, with the final recommendations of the Corporate Compensation Committee being submitted to the Board of Directors for further discussion and final approval. The target is for the total compensation package granted to the CEO to be approximately in the middle range of other comparably sized mining companies; however, there is no fixed formula, or pre-determined set of peer companies that is used for this determination.</
P>
  <P style="TEXT-ALIGN: justify"><B><I>Base Compensation</I></B></P>
  <P style="TEXT-ALIGN: justify">In the Committee&#146;s view, paying base compensation that is competitive in the market in which the Company operates is a first step to attracting and retaining talented, qualified and effective executives. The Committee noted that, in Fiscal 2009, the CEO reduced his base compensation by 5%. In addition the CEO&#146;s compensation was not competitive with compensation received by CEOs of comparable sized mining companies. The Committee recommended to the Board of Director that the base compensation for the CEO be increased, starting July 1, 2010, to $500,000 per year. The decision to increase compensation was supported by market data included in a salary survey compiled by a large international accounting firm. The assessment was completed by comparing the Company&#146;s CEO salary with that of all Canadian mining companies with similar employee levels. The Committee currently delegates authority to establish base salaries for other officers to the CEO.</P>
  <P style="TEXT-ALIGN: justify"><B><I>Short Term Incentive Plan</I></B></P>
  <P style="TEXT-ALIGN: justify">The Company does not maintain any Short Term Incentive Plans for its CEO or other Named Executive Officers.</P>
  <P style="TEXT-ALIGN: justify"><B><I>Option-Based Awards</I></B></P>
  <P style="TEXT-ALIGN: justify">The Company believes that encouraging its executive officers and employees to become shareholders is the best way of aligning their interests with those of its shareholders. Equity participation is accomplished through the Company&#146;s stock option plan. Stock options are granted to executive officers taking into account a number of factors, including the amount and terms of options previously granted, base compensation and performance bonuses, if any, and competitive factors. During the 2010 fiscal year, the Board granted optionees options to purchase 1,643,416 Common Shares, representing 1.0<FONT color=#333333>% </FONT>of the outstanding Common Shares of the Company at year-end.</P>
  <P style="TEXT-ALIGN: center">14</P>
</DIV>
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<BR>
<A name="page_15"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">All options granted were granted at or above market prices, with a term of five years, and vesting in equal quarterly amounts over a three-year vesting period. Suggested granting of options is made by the CEO to the Compensation Committee, which considers the input of the CEO and then submits a recommendation for the grant of options to the Board of Directors for final approval.</P>
  <P style="TEXT-ALIGN: justify"><B><I>Performance Bonuses</I></B></P>
  <P style="TEXT-ALIGN: justify">Executive compensation in the form of performance bonuses awarded is related in part to the Company&#146;s performance and in part to the executive&#146;s contribution. It is difficult in the mining industry, where growth of the Company is dependent on projects that take many years to move from exploration into production, to quantitatively measure the Company&#146;s performance over a year-to-year time period. However, it is possible to apply a combination of qualitative and quantitative metrics to this process, and the Company measures its performance by reviewing such items as:</P>
  <UL>
    <LI>
      <P align=justify>Earnings per share, cash flow per share and overall financial performance;</P>
    <LI>
      <P align=justify>Growth in the Company&#146;s total resources and reserves;</P>
    <LI>
      <P align=justify>Development progress on the Company&#146;s projects;</P>
    <LI>
      <P align=justify>The ability of the Company to recruit and attract professionals who are recognized as leaders within their sector;</P>
    <LI>
      <P align=justify>Confidence of the investment community in the Company; and</P>
    <LI>
      <P align=justify>Absence of negative dealings with respect to environmental issues, safety issues or regulatory agencies.</P>
    </LI>
  </UL>
  <P style="TEXT-ALIGN: justify">Considerations for performance bonus awards for the fiscal 2010 year were based primarily on three elements: (1) share performance; (2) Company performance, and (3) executive officer&#146;s performance. In addition, consideration was given to the CEO&#146;s decision to forgo options in fiscal 2009 and give up compensation in lieu of options plus the absence of any bonus award in 2009. The Committee believes that the CEO did an excellent job navigating the Company through the economic turmoil in Fiscal 2009, strengthening the Company&#146;s financial position, and building a foundation for the return to growth in 2010.</P>
  <P style="TEXT-ALIGN: justify">The Committee noted excellent growth in sales, cash flow, profits, improved margins, increased resources, establishment of reserves for the first time, the acquisition of the Silvertip project, progress on the GC development property, listing on the NYSE and the significant increase in the share price year over year in contemplating the bonus to award the CEO for 2010. It also looked at bonuses awarded by other peer silver mining companies. The Committee recommended a bonus award to be granted of $700,000 consisting of $350,000 in recognition of the CEO&#146;s decision to forgo options in fiscal 2009 and an additional $350,000 in recognition of his performance in Fiscal 2010. The CEO has agreed to accept only $600,000 of the awarded performance bonus.</P>
  <P style="TEXT-ALIGN: justify"><B>Performance Graph</B></P>
  <P style="TEXT-ALIGN: justify">The Common Shares of the Company commenced trading on the TSX on October 24, 2005, under the symbol &#147;SVM&#148; and prior to that time traded on the TSX Venture Exchange. The Common Shares also trade on the NYSE, also under the symbol SVM. The following chart compares the total cumulative shareholder return for CDN$100 invested in Common Shares of the Company on April 1, 2004, with the cumulative total return of the S&amp;P/TSX Composite Index and S&amp;P/TSX Global Gold Index for the period from April 1, 2004 to March 31, 2009. The Common Share performance as set out in the graph does not necessarily indicate future price performance and does not factor in the payment of dividends by Silvercorp to its shareholders.</P>
  <P style="TEXT-ALIGN: center">15</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_16"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The Company does take into account overall share price performance in determining executive compensation amounts; however, share price performance is just one of the many factors, as discussed above, that the Company takes into consideration. Overall, the base salaries, or consulting fees, for the Named Executive Officers have had an upward trend, similar to the upward trend in the performance graph below. However, there is not a direct correlation between the Company&#146;s share price performance and the amount of compensation paid to Named Executive Officers.</P>
  <P align=center> <IMG src="exhibit99-2x16x1.jpg" border=0> &nbsp;</P>
  <BR>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD align=center colSpan=7><B>Cumulative Total Return</B></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B>For Date</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2005</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2006</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2007</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2008</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2009</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March </B><B>31, 2010</B>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>SVM&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>100.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1,015.38&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>949.23&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1,233.85&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>349.23&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1,072.31&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>S&amp;P/TSX Composite&nbsp;Index&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>100.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>125.99&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>136.96&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>138.88&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>90.72&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>125.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>S&amp;P/TSX Global Gold&nbsp;Index&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>100.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>154.0284.42&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>157.49&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>173.10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>174.62&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>162.53&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B>For Date</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2005</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2006</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2007</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2008</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March 31, </B><B>2009</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right><B>March </B><B>31, 2010</B>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>SVM Closing Price<SUP>*</SUP>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>0.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>6.60&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>6.17&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>8.02&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.27&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>6.97&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>S&amp;P/TSX Composite&nbsp;Index&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>9,612.38&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>12,110.61&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>13,165.50&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>13,350.13&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>8,720.39&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>12,037.73&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>S&amp;P/TSX Global Gold&nbsp;Index</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>194.06&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>298.80&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>305.83&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>335.81&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>338.77&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>315.77&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">*&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>CAD$ Closing share price adjusted for three-for-one stock split effective October 31, 2007.</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify"><B>Compensation of Directors</B></P>
  <P style="TEXT-ALIGN: justify">On September 29, 2008, the Board of Directors implemented a Directors&#146; Compensation Plan that pays each non-executive director CAD$25,000 per year. In addition, Committee Chairpersons are paid an additional CAD$5,000 per year, with the Chairman of the Audit Committee receiving an additional CAD$15,000 per year. The Company has no formal plans pursuant to which cash or non-cash compensation was paid or distributed to executive officers for their roles as directors during the most recently completed financial year. The Compensation Committee reviews the Directors&#146; compensation package on an annual basis and makes recommendations to the board of directors regarding director compensation when required. For the fiscal year 2011, the Compensation Committee has recommended that cash compensation to directors be increased by 50% while the value of options granted during the year be decreased by a similar amount with the objective of keeping total director compensation relat
ively unchanged. The Company has no pension plan or other arrangement for non-cash compensation to the Directors, except incentive stock options.</P>
  <P style="TEXT-ALIGN: center">16</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_17"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The following table sets out compensation paid to directors in the financial year ended March 31, 2010:</P>
  <P style="TEXT-ALIGN: center"><B>Director compensation table</B><B><SUP>(1)</SUP></B></P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''''''''Times New Roman'''''''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
        <TD width="12%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Name&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; TEXT-INDENT: 1px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Fees earned<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Share- based awards<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Option- based awards<BR>
          (CAD$)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Non-equity incentive plan compensation<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Pension value<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>All other compensation<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; TEXT-INDENT: 1px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Total<BR>
          (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>S. Paul Simpson&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>121,200<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>151,200&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Greg Hall&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>25,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>90,900<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>115,900&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Earl Drake&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>25,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>90,900<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>115,900&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Yikang Liu&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>25,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>90,900<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>115,900&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>Robert Gayton&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>40,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>121,200<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 7px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 12px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=right>161,200&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Total&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>145,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>515,100<SUP>(2)</SUP></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=right>660,100&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: '''''''''''Times New Roman'''''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">(1)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>Disclosure about compensation payable to Dr. Rui Feng and Myles Gao in their capacities as directors has already been disclosed above under the heading &#147;Summary Compensation Table&#148;.</P></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(2)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Company has adopted CICA 3870 Stock-based Compensation and Other Stock-based Payments to account for the issuance of stock options to employees and non-employees. The fair value of stock options is estimated at the grant date using the Black-Scholes Option Pricing Model which requires the input of a number of assumptions. Although the assumptions used reflect management&#146;s best estimates, they involve inherent uncertainties based on market conditions generally outside of the control of the Company. The following summarized the key assumption used to calculate the fair value of each set of options granted to directors, who are not NEOs, during the financial year ended March 31, 2010.</P></TD>
    </TR>
  </TABLE><br>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''''''''Times New Roman'''''''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
        <TD width="11%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Name&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>&nbsp;Grant date&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>Options granted&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>Exercise price<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>&nbsp;Expired date&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; TEXT-INDENT: 2px; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>Weighted&nbsp;average&nbsp;expected lives (years) </TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>Weighted average risk free rates</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>Weighted average volitilities</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=bottom align=center>Weighted average fair value per option<BR>
          (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=center noWrap align=left rowSpan=2>Paul Simpson</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>40,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=center noWrap align=left rowSpan=2>Greg Hall</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>15,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=center noWrap align=left rowSpan=2>Earl Drake</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>15,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=center noWrap align=left rowSpan=2>Yikang Liu</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>15,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>3.60&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=center noWrap align=left rowSpan=2>Robert Gayton</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20-Apr-09&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>40,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-14&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1.55%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>1.23&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5-Jan-10&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 5px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>5-Jan-15&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.63&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.16%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>77%</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>3.60&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: justify">There are no formal plans pursuant to which options to purchase securities of the Company are granted to executive officers. The Company grants incentive stock options from time to time to its Directors, Officers and Employees in accordance with the policies of the TSX, the NYSE, and its stock option plan, at the discretion of the Board.</P>
  <P style="TEXT-ALIGN: center">17</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_18"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify"><B>Outstanding Share-Based Awards and Option-Based Awards</B></P>
  <P style="TEXT-ALIGN: justify">The following table summarizes awards outstanding at fiscal year ended March 31, 2010, for each NEO.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
        <TD width="14%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=center colSpan=4>Option-Based Awards</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=center colSpan=2>Share-Based Awards&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>Name&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Number of Securities Underlying Unexercised Options&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Option Exercise Price<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Option Expiration Date&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Value of Unexercised In-The-Money Options <SUP>(1)</SUP><BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Number of Shares or Units of Shares that have not Vested (#)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Market or Payout Value of Share Based Awards that have not Vested (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left rowSpan=2>S. Paul Simpson</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>40,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>172,800&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>10-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=left rowSpan=2>Greg Hall</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>129,600&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>15,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>10-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left rowSpan=2>Earl Drake</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>129,600&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>15,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>10-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=left rowSpan=2>Yikang Liu</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>30,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>129,600&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>15,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>10-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left rowSpan=2>Robert Gayton</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>40,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>2.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>19-Apr-2014&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>172,800&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>20,000&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>7.00&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>10-Jan-2015&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>

  <TABLE style="FONT-SIZE: 8pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">(1)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The closing price of the Company&#146;s Common Shares on the Toronto Stock Exchange (the &#147;TSX&#148;) on March 31, 2010, was CAD$6.97.</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: justify"><B>Incentive Plan Awards &#150; Value Vested or Earned during the Year</B></P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="25%"></TD>
        <TD width="25%"></TD>
        <TD width="25%"></TD>
        <TD width="25%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Name</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Option-Based Awards &#150; Value vested during the year<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Share-Based Awards &#150; Value vested during the year<BR>
          (CAD$)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Non-Equity Incentive Plan Compensation &#150; Value earned during the year<BR>
          (CAD$)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>S. Paul Simpson&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>$32,149.74&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Greg Hall&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>$25,091.16&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Earl Drake&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>$25,091.16&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>Yikang Liu&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>$25,091.16&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=right>Nil&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=left>Robert Gayton&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>$44,683.58&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" noWrap align=right>Nil&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: center"><B>SECURITIES AUTHORIZED FOR ISSUANCE </B><B>UNDER AND DESCRIPTION OF EQUITY COMPENSATION PLANS</B></P>
  <P style="TEXT-ALIGN: justify">The only equity compensation plan which the Company has in place is its stock option plan (the &#147;Plan&#148;) which was previously approved by the shareholders on November 14, 2002, and an amendment to the Plan was approved by the shareholders on October 20, 2004. The Plan, with shareholder approval, was further amended October 24, 2005, to bring it into compliance with the policies of the TSX in conjunction with the listing of the Company&#146;s shares on the TSX on that date. On August 24, 2006, an amendment to the Plan was approved by the shareholders to increase the maximum aggregate number of Common Shares issuable pursuant to options granted under the Plan, inclusive of all other stock options outstanding from 15,300,000 to 19,500,000. At the 2009 Annual Shareholder Meeting, shareholders approved a new Amendment to the Stock Option Plan in order to, among other things, convert the Plan into a &#147;rolling 10% plan&#148; from a &#147;fixed number plan&#148;. At March
 31, 2010, there were 3,204,683 options outstanding and 13,238,358 options available for future issuance under the Plan.</P>
  <P style="TEXT-ALIGN: center">18</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_19"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The Plan has been established to attract and retain directors, officers, employees and consultants to the Company and to motivate them to advance the interests of the Company by affording them with the opportunity to acquire an equity interest in the Company. The Plan is administered by the directors and the Corporate Governance and Compensation Committee of the Company.</P>
  <P style="TEXT-ALIGN: justify">The Board, or a committee appointed for such purposes, may from time to time designate, by resolution, to bona fide Employees, Consultants, Officers or Directors (collectively, the &#147;Eligible Persons&#148;), or corporations employing or wholly owned by such Eligible Persons options to acquire Common Shares in such numbers, for such terms and at such exercise prices as may be determined by the Board or such committee. The purpose of this Plan is to attract and retain Eligible Persons and to motivate them to advance the interests of the Company by affording them with the opportunity to acquire an equity interest in the Company through options granted under this Plan to purchase Common Shares.</P>
  <P style="TEXT-ALIGN: justify">The maximum number of Common Shares that may be reserved for issuance for all purposes under the Plan is 10% of the issued and outstanding Common Shares, from time to time. Any Common Shares subject to a share option which for any reason is cancelled or terminated without having been exercised will again be available for grant under the Plan. Additionally if any Option has been exercised, the number of Common Shares into which such option was exercised will become available to be issued upon the exercise of options subsequently granted under the Plan. Thus upon exercise of an option, the same number of Common Shares underlying those options would become available for issuance under the Plan. As at August 26, 2010, of the 165,011,041 Common Shares reserved for issuance under the Plan, 2,984,509 options (representing 1.8% of the Company&#146;s issued and outstanding Common Shares) remain outstanding, leaving 13,594,584 options (representing 8.2% of the Company&#146;s issued and
 outstanding Common Shares) remain available for future grant.</P>
  <P style="TEXT-ALIGN: justify">The maximum number of Shares under the plan and any other share compensation arrangement of the company (i) issued to Insiders within any one year period, and (ii) issuable to Insiders at any time, may not exceed 10% of the company's issued and outstanding shares. The maximum number of Common Shares issued to each Eligible Person under the Plan and under any other share compensation arrangement is limited to 5% of the Common Shares outstanding at the time of the grant.</P>
  <P style="TEXT-ALIGN: justify">The Board may from time to time, subject to applicable law and to the prior approval, if required, of the TSX or any other regulatory body having authority over the Company or the Plan or, if required by the rules and policies of the TSX, the shareholders of the Company, suspend, terminate or discontinue the Plan at any time, or amend or revise the terms of the Plan or of any option granted under the Plan.</P>
  <P style="TEXT-ALIGN: justify">The Board has the authority under the Plan to establish the option price at the time each share option is granted. The exercise price of an option may not be less than the the closing market price for the Company&#146;s Shares on the TSX on the trading day prior to the date of grant of the Options. The Board, or a committee appointed for such purposes, also has the authority under the Plan to determine other terms and conditions relating to the grant of the options, including any applicable vesting provisions. The Plan also includes a specific amending provision that details the amendments to the Plan that may be made by the Board of Directors without shareholder approval and that detail certain amendments to the Plan that specifically require shareholder approval.</P>
  <P style="TEXT-ALIGN: justify">The term of the options granted under the Plan shall expire on a date determined by the Board, which may not be later than 10 years from the date of grant of the option. However, the Plan provides that Options that would otherwise expire during &#147;no trading&#148; periods (&#147;Blackout Periods&#148;) established by the Company will be extended for 10 business days after the Blackout Period expires.</P>
  <P style="TEXT-ALIGN: justify">All options granted under the Plan are not assignable or transferable other than by will or the laws of succession, except that, if permitted by the rules and policies of the Exchange, an optionee shall have the right to assign any option granted to a trust, RRSP, RESP or similar legal entity. If an optionee ceases to be an Eligible Person for any reason whatsoever other than death, each option held by such optionee will cease to be exercisable 90 days following the termination date (being the date on which such optionee ceases to be an Eligible Person). If an optionee dies, the legal representative of the optionee may exercise the optionee&#146;s options within one year after the date of the optionee&#146;s death but only up to and including the original option expiry date.</P>
  <P style="TEXT-ALIGN: center">19</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_20"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">The following table sets out equity compensation plan information as at the end of the financial year ended March 31, 2010:</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''Times New Roman''''" cellSpacing=0 border=0>
      <TR>
        <TD width="27%"></TD>
        <TD width="27%"></TD>
        <TD width="18%"></TD>
        <TD width="27%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Plan Category&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Number of Securities to be Issued upon Exercise of Outstanding Options, Warrants and Rights<BR>
          (a)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (CAD$)<BR>
          (b)&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=center>Number of Securities<BR>
          (c)&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>Equity compensation plans&nbsp;approved by security holders&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>3,204,683 Common Shares&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>$5.08&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>13,238,358 Common Shares&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>Equity compensation plans not&nbsp;approved by security holders&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>N/A&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center>N/A&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>Total&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>3,204,683 Common Shares&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>$3.65&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" align=center>13,238,358 Common Shares&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: center"><B>INDEBTEDNESS OF DIRECTORS, EXECUTIVE OFFICERS AND SENIOR OFFICERS</B></P>
  <P style="TEXT-ALIGN: justify">During the Company's last completed financial year ended March 31, 2010, no director or executive officer of the Company, no proposed nominee for election as a director of the Company, and no associate of any of the foregoing persons has been indebted to the Company or any of its subsidiaries, nor has any of these individuals been indebted to another entity which indebtedness is the subject of a guarantee, support agreement, letter of credit or other similar arrangement or understanding provided by the Company or any of its subsidiaries.</P>
  <P style="TEXT-ALIGN: center"><B>MANAGEMENT CONTRACTS</B></P>
  <P style="TEXT-ALIGN: justify">There are no management functions of the Company, which are to any substantial degree performed by a person or company other than the directors or executive officers (or private companies controlled by them, either directly or indirectly) of the Company.</P>
  <P style="TEXT-ALIGN: center"><B>INTEREST OF INFORMED PERSONS IN MATERIAL TRANSACTIONS</B></P>
  <P style="TEXT-ALIGN: justify">Except as disclosed in this Information Circular, since the commencement of the Company's most recently completed financial year, no informed person of the Company, nominee for election as a director or any associate or affiliate of an informed person or nominee, had any material interest, direct or indirect, in any transaction or any proposed transaction which has materially affected or would materially affect the Company or any of its subsidiaries. An &#147;informed person&#148; means: (a) a director or executive officer of the Company; (b) a director or executive officer of a person or company that is itself an informed person or subsidiary of the Company; (c) any person or company who beneficially owns, directly or indirectly, voting securities of the Company or who exercises control or direction over voting securities of the Company or a combination of both carrying more than 10% of the voting rights other than voting securities held by the person or company as underwrit
er in the course of a distribution; and (d) the Company itself, if and for so long as, it has purchased, redeemed or otherwise acquired any of its Common Shares.</P>
  <P style="TEXT-ALIGN: center">20</P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_21"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: center"><B>APPOINTMENT OF AUDITORS</B></P>
  <P style="TEXT-ALIGN: justify">It is proposed that Ernst &amp; Young, LLP, Chartered Accountants of Vancouver, BC, be reappointed as the auditors of the Company to hold office until the next Annual Meeting of the Shareholders or until a successor is appointed, and that the directors be authorized to determine the auditor&#146;s remuneration. Ernst &amp; Young, LLP was first appointed in May 2006.</P>
  <P style="TEXT-ALIGN: justify">Unless otherwise specified, the persons named in the enclosed Form of Proxy will vote for the appointment of Ernst &amp; Young, Chartered Accountants, of Vancouver, BC, as auditor of the Company until the next Annual General Meeting of shareholders, at a remuneration to be fixed by the Directors.</P>
  <P style="TEXT-ALIGN: center"><B>PARTICULARS OF OTHER MATTERS TO BE ACTED UPON</B></P>
  <P style="TEXT-ALIGN: justify"><B><I>Approval and Ratification of Acts of Directors and Officers</I></B></P>
  <P style="TEXT-ALIGN: justify">Shareholders will be asked to confirm, ratify and approve all acts, deeds, things done by, and the proceedings of the Directors and officers of the Company on behalf of the Company during the preceding year.</P>
  <P style="MARGIN-LEFT: 4%; TEXT-ALIGN: justify">&#147;RESOLVED, as an ordinary resolution, that:</P>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>Notwithstanding (i) any failure to properly convene, proceed with, or record any meeting of the Board of Directors or shareholders of Silvercorp Metals Inc. (the &#147;Company&#148;) for any reason whatsoever, including, without limitation, the failure to properly waive or give notice of a meeting, hold a meeting in accordance with a notice of a meeting, have a quorum present at a meeting, sign the minutes of a meeting or sign a ballot electing a slate of directors; or (ii) any failure to pass any resolution of the Directors or shareholders of the Company or any articles of the Company for any reason whatsoever, all approvals, appointments, elections, resolutions, contracts, acts and proceedings enacted, passed, made done or taken since April 1, 2009, as set forth in the minutes of the meetings, or resolutions of the Board of Directors or shareholders of the Company or other documents contained in the minutes book and record book of the Company, or in the financial stat
ements of the Company, and all action heretofore taken in reliance upon the validity of such minutes, documents and financial statements, are hereby sanctioned, ratified, confirmed and approved; and,</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">2.&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>Without limiting the generality of the foregoing, all resolutions, contracts, acts and proceedings of the Board of Directors of the Company enacted, made, done or taken since the last Annual and Special General Meeting as set forth or referred to in the minutes and record books of the Company or in the financial statements of the Company, are hereby approved, ratified and confirmed.&#148;</P></TD>
    </TR>
  </TABLE>
  <P style="TEXT-ALIGN: center"><B>OTHER BUSINESS</B></P>
  <P style="TEXT-ALIGN: justify">Management of the Company knows of no other matters which will come before the Meeting, other than as set forth above and in the Notice of Meeting, but if such should occur, the persons named in the accompanying Form of Proxy intend to vote on them in accordance with their best judgment exercising discretionary authority with respect to amendments or variations of matters identified in the Notice of Meeting and other matters which may properly come before the Meeting, or any adjournments thereof.</P>
  <P style="TEXT-ALIGN: center"><B>ADDITIONAL INFORMATION</B></P>
  <P style="TEXT-ALIGN: justify">Additional information relating to the Company is available on the System for Electronic Document Analysis and Retrieval (SEDAR) (www.sedar.com).</P>
  <P style="TEXT-ALIGN: center">21</P>
</DIV>
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<BR>
<A name="page_22"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: justify">Financial information regarding the Company and its affairs is provided in the Company&#146;s comparative financial statements and management discussion and analysis (&#147;MD&amp;A&#148;) for its financial year ended March 31, 2010. Shareholders may contact the Company at the address set out on the face page of this Information Circular to request free copies of the Company&#146;s financial statements and MD&amp;A. Alternatively, they can be found at www.sedar.com and the Company&#146;s website at www.silvercorp.ca.</P>
  <P style="TEXT-ALIGN: justify"><B>BOARD APPROVAL</B></P>
  <P style="TEXT-ALIGN: justify">The contents of this Information Circular have been approved and its mailing has been authorized by the Directors of the Company.</P>
  <P style="TEXT-ALIGN: justify">Dated at Vancouver, British Columbia, this 26<SUP>th </SUP>day of August, 2010.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''Times New Roman''''" cellSpacing=0 border=0>
      <TR>
        <TD width="50%"></TD>
        <TD width="50%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=right></TD>
        <TD noWrap align=center><B>BY ORDER OF THE BOARD OF DIRECTORS</B>&nbsp;</TD>
      </TR>
      <TR>
        <TD></TD>
        <TD align=center>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD align=center></TD>
        <TD align=center><B><I>&#147;Dr. Rui Feng&#148;</I></B></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=right></TD>
        <TD noWrap align=center>Dr. Rui Feng, Chairman, CEO and Director&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: center">22</P>
</DIV>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: center"><B>SCHEDULE &#147;1&#148;</B></P>
  <P style="TEXT-ALIGN: center"><B>THE BOARD OF DIRECTOR CHARTER</B></P>
  <P style="TEXT-ALIGN: justify">The Board is responsible for the stewardship of the Company and for the oversight of its management and affairs.</P>
  <P style="TEXT-ALIGN: justify">Directors shall exercise their best business judgment in a manner consistent with their fiduciary duties. The Board&#146;s primary responsibilities, which are discharged directly and through delegation to its Committees, include the following:</P>
  <UL>
    <LI>
      <P align=justify>To act honestly and in good faith with a view to the best interests of the Company.</P>
    <LI>
      <P align=justify>To exercise due care, diligence and skill that reasonably prudent persons would exercise in comparable circumstances.</P>
    <LI>
      <P align=justify>Consistent with its responsibilities to the Company, to further the interests of the shareholders.</P>
    <LI>
      <P align=justify>To consider business opportunities and risks, and to adopt strategic plans from time to time.</P>
    <LI>
      <P align=justify>To identify the principal risks of the Company&#146;s business, and to implement an appropriate system to manage these risks.</P>
    <LI>
      <P align=justify>To develop an investor relations and shareholder communications policy for the Company.</P>
    <LI>
      <P align=justify>To oversee management&#146;s adoption of effective internal control and management information systems.</P>
    <LI>
      <P align=justify>To review and approve annual and quarterly financial statements and the publication thereof by management.</P>
    <LI>
      <P align=justify>To approve operating plans and any capital budget plans.</P>
    <LI>
      <P align=justify>To select and approve all key executive appointments, and to monitor executive development.</P>
    <LI>
      <P align=justify>To develop the Company&#146;s approach to corporate governance, including establishing a set of corporate governance principles and guidelines that are specifically applicable to the Company.</P>
    <LI>
      <P align=justify>To adopt a code of conduct to govern employees and management in their activities for and on behalf of the Company.</P>
    <LI>
      <P align=justify>To promote a culture of integrity throughout the Company consistent with the adopted code of conduct.</P>
    <LI>
      <P align=justify>To take action on issues that by law or practice require the independent action of a Board or one of its Committees.</P>
    <LI>
      <P align=justify>To oversee management in its implementation of effective programs to provide a safe work environment, to employ sound environmental practices, and to operate in accordance with applicable laws, regulations and permits.</P>
    <LI>
      <P align=justify>To oversee management in its implementation of an effective communications policy with regard to investors, employees, the communities in which it operates and the governments of those communities.</P>
    </LI>
  </UL>
</DIV>
<BR>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: center"><B>SCHEDULE &#147;2&#148;</B></P>
  <P style="TEXT-ALIGN: center"><B>CORPORATE GOVERNANCE COMMITTEE CHARTER</B></P>
  <P style="TEXT-ALIGN: justify">The Company has established a Corporate Governance Committee of the Board of Directors which consists of three or more directors, a majority of whom shall be independent. The Committee meets at least annually, or more frequently as required.</P>
  <P style="TEXT-ALIGN: justify">The Committee&#146;s mandate is to assist the Board in establishing and maintaining a sound system of corporate governance through a process of continuing assessment and enhancement.</P>
  <P style="TEXT-ALIGN: justify">The Committee&#146;s duties and responsibilities are:</P>
  <UL>
    <LI>
      <P align=justify>To advise the Chairman of the Board and the Board on matters of corporate governance, including adherence to any governance guidelines or rules established by applicable regulatory authorities.</P>
    <LI>
      <P align=justify>To advise the Board on issues of conflict of interest for individual directors.</P>
    <LI>
      <P align=justify>To examine the effectiveness of the Company&#146;s corporate governance practices at least annually and to propose such procedures and policies as the Committee believes are appropriate to ensure that the Board functions independently of management, management is accountable to the Board and procedures are in place to monitor the effectiveness of performance of the Board, committees of the Board and individual directors.</P>
    <LI>
      <P align=justify>To develop and review, together with the Chairman, CEO and the President of the Board, annual Board goals or improvement priorities.</P>
    <LI>
      <P align=justify>To identify and to recommend to the Board suitable candidates for nomination as new directors, and to review the credentials of directors standing for re-election.</P>
    <LI>
      <P align=justify>With assistance of management, to organize and provide an orientation program for new directors where appropriate.</P>
    <LI>
      <P align=justify>To periodically review the mandates of the Board and committees of the Board and determine what additional committees of the Board, if any, are required or appropriate.</P>
    <LI>
      <P align=justify>To develop such codes of conduct and other policies as are appropriate to deal with the confidentiality of the Company&#146;s information, insider trading and the Company&#146;s timely disclosure and other public company obligations.</P>
    <LI>
      <P align=justify>To take such other steps as the Committee decides are appropriate, in consultation with the Board, to ensure that proper corporate governance practices are in place for the Company, with reference to the Toronto Stock Exchange guidelines or recommendations and other regulatory requirements on corporate governance.</P>
    <LI>
      <P align=justify>To review its charter and assess annually the adequacy of this mandate, the effectiveness of its performance and, when necessary, and to recommend changes to the Board of Directors for its approval.</P>
    </LI>
  </UL>
</DIV>
<BR>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: center"><B>SCHEDULE &#147;3&#148;</B></P>
  <P style="TEXT-ALIGN: center"><B>COMPENSATION COMMITTEE CHARTER</B></P>
  <P style="TEXT-ALIGN: justify">The Compensation Committee of the Board of Directors consists of at least three Directors, a majority of whom shall be independent. The Committee meets at least annually, or more frequently as required.</P>
  <P style="TEXT-ALIGN: justify">The purpose of the Compensation Committee is to assist the Board in discharging its duties relating to compensation of the executive officers of the Company. The goals are to enable the Company to attract, retain and motivate the most qualified talent who will contribute to the long term success of the Company by aligning compensation with the Company&#146;s business objectives and performance, and aligning incentives with the interests of shareholders to maximize shareholders&#146; value.</P>
  <P style="TEXT-ALIGN: justify">The Committee&#146;s duties and responsibilities are:</P>
  <UL>
    <LI>
      <P align=justify>To make recommendations to the Board with respect to the compensation of senior management and executive officers of the Company.</P>
    <LI>
      <P align=justify>To review the compensation and benefits of the directors in their capacity as directors of the Company to ensure that such compensation reflects the responsibilities and risks involved in being a director.</P>
    <LI>
      <P align=justify>To review and make recommendations to the Board as to the general compensation and benefits policies and practices of the Company, including incentive stock options for all employees, consultants, directors and officers.</P>
    <LI>
      <P align=justify>To review the disclosure to be made of director and executive remuneration in the Management Information Circular.</P>
    <LI>
      <P align=justify>To ensure there are appropriate training, development and benefit programs in place for management and staff.</P>
    <LI>
      <P align=justify>To review and make recommendations to the Board for its approval on any special compensation and benefit arrangements.</P>
    <LI>
      <P align=justify>To review its compensation practices by comparing them to surveys of relevant competitors and to set objective compensation based on this review.</P>
    <LI>
      <P align=justify>To perform such other functions as the Board may from time to time assign to the Committee.</P>
    <LI>
      <P align=justify>To review its charter and assess annually the adequacy of this mandate, the effectiveness of its performance, and to recommend changes to the Board for its approval.</P>
    </LI>
  </UL>
</DIV>
<BR>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: center"><B>SCHEDULE &#147;4&#148;</B></P>
  <P style="TEXT-ALIGN: center"><B>AUDIT COMMITTEE CHARTER</B></P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left><B>I.</B>&nbsp;</TD>
        <TD noWrap align=left><B>Purpose</B>&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: justify">The main objective of the Audit Committee is to act as a liaison between the Board and the Company&#146;s independent auditors (the &#147;Auditors&#148;) and to assist the Board in fulfilling its oversight responsibilities with respect to (a) the financial statements and other financial information provided by the Company to its shareholders, the public and others; (b) the Company&#146;s compliance with legal and regulatory requirements; (c) the qualification, independence and performance of the Auditors; and (d) the Company's risk management and internal financial and accounting controls, and management information systems.</P>
  <P style="TEXT-ALIGN: justify">Although the Committee has the powers and responsibilities set forth in this Charter, the role of the Committee is oversight. The members of the Committee are not full-time employees of the Company and may or may not be accountants or auditors by profession or experts in the fields of accounting or auditing and, in any event, do not serve in such capacity. Consequently, it is not the duty of the Committee to conduct audits or to determine that the Company&#146;s financial statements and disclosures are complete and accurate and are in accordance with generally accepted accounting principles and applicable rules and regulations.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left><B>II.</B>&nbsp;</TD>
        <TD noWrap align=left><B>Organization</B>&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: justify">The Committee shall consist of three or more directors and shall satisfy the laws governing the Company and the independence, financial literacy, expertise and experience requirements under applicable securities law, stock exchange and any other regulatory requirements applicable to the Company.</P>
  <P style="TEXT-ALIGN: justify">The members of the Committee and the Chair of the Committee shall be appointed by the Board. A majority of the members of the Committee shall constitute a quorum. A majority of the members of the Committee shall be empowered to act on behalf of the Committee. Matters decided by the Committee shall be decided by majority votes.</P>
  <P style="TEXT-ALIGN: justify">Any member of the Committee may be removed or replaced at any time by the Board and shall cease to be a member of the Committee as soon as such member ceases to be a director.</P>
  <P style="TEXT-ALIGN: justify">The Committee may form and delegate authority to subcommittees when appropriate.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left><B>III.</B>&nbsp;</TD>
        <TD noWrap align=left><B>Meetings</B>&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: justify">The Committee shall meet as frequently as circumstances require, but not less frequently than four times per year. The Committee shall meet at least quarterly.</P>
  <P style="TEXT-ALIGN: justify">The Committee may invite, from time to time, such persons as it may see fit to attend its meetings and to take part in discussion and consideration of the affairs of the Committee.</P>
  <P style="TEXT-ALIGN: justify">The Company&#146;s accounting and financial officer(s) and the Auditors shall attend any meeting when requested to do so by the Chair of the Committee.</P>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left><B>IV.</B>&nbsp;</TD>
        <TD noWrap align=left><B>Responsibilities</B>&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">(1)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Committee shall recommend to the Board of directors:</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="96%"></TD>
    </TR>
  </TABLE>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: ''''''Times New Roman''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>the external auditor to be nominated for the purpose of preparing or issuing an auditor's report or performing other audit, review or attest services for the Company; and</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(b)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>the compensation of the external auditor.</P></TD>
    </TR>
  </TABLE>
</DIV>
<BR>
<BR>
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<A name="page_27"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: '''''''''Times New Roman'''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">(2)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Committee shall be directly responsible for overseeing the work of the external auditor engaged for the purpose of preparing or issuing an auditor's report or performing other audit, review or attest services for the Company, including the resolution of disagreements between management and the external auditor regarding financial reporting.</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="96%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(3)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Committee must pre-approve all non-audit services to be provided to the Company or its subsidiary entities by the Company's external auditor.</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="96%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(4)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Committee must review the Company's financial statements, MD&amp;A and annual and interim earnings press releases before the Company publicly discloses this information.</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="96%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(5)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Committee must be satisfied that adequate procedures are in place for the review of the Company's public disclosure of financial information extracted or derived from the Company's financial statements, other than the public disclosure referred to in subsection (4), and must periodically assess the adequacy of those procedures.</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="96%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%">(6)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>The Committee must establish procedures for:</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="96%"></TD>
    </TR>
  </TABLE>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: '''''''''Times New Roman'''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls, or auditing matters; and</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(b)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters.</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
  </TABLE>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: '''''''''Times New Roman'''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%">(7)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="96%"><P align=justify>An audit committee must review and approve the Company's hiring policies regarding partners, employees and former partners and employees of the present and former external auditor of the issuer.</P></TD>
    </TR>
  </TABLE>
  <DIV align=left>
    <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: '''''''''Times New Roman'''''''''" cellSpacing=0 border=0>
      <TR>
        <TD width="4%"></TD>
        <TD width="96%"></TD>
      </TR>
      <TR vAlign=bottom>
        <TD noWrap align=left><B>V.</B>&nbsp;</TD>
        <TD noWrap align=left><B>Authority</B>&nbsp;</TD>
      </TR>
    </TABLE>
  </DIV>
  <BR>
  <P style="TEXT-ALIGN: justify">The Committee shall have the following authority:</P>
  <TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: '''''''''Times New Roman'''''''''" cellSpacing=0 width="100%" border=0>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
      <TD width="92%"><P align=justify>to engage independent counsel and other advisors as it determines necessary to carry out its duties,</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(b)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>to set and pay the compensation for any advisors employed by the Committee, and</P></TD>
    </TR>
    <TR height=20>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD width="92%"></TD>
    </TR>
    <TR>
      <TD vAlign=top noWrap width="4%"></TD>
      <TD vAlign=top noWrap width="4%">(c)&nbsp; &nbsp; &nbsp; </TD>
      <TD width="92%"><P align=justify>to communicate directly with the internal and external auditors</P></TD>
    </TR>
  </TABLE>
</DIV>
<BR>
<BR>
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<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <P style="TEXT-ALIGN: center"><B>APPENDIX &#147;A&#148;</B></P>
  <P style="TEXT-ALIGN: center"><B>CORPRATE GOVERNANCE DISCLOSURE OF</B></P>
  <P style="TEXT-ALIGN: center"><B>SILVERCORP METALS INC. (the &#147;Company&#148;)</B></P>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center><B>Governance Disclosure Guidelines under </B><B>National Instrument 58-101 </B><B><I>Disclosure of </I></B><B><I>Corporate Governance Practices(&#147;NI 58-101&#148;)</I></B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" align=center><B>Corporate Governance Practices of the Company</B>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left><B>1<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>Board of Directors</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=left>(a)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify " vAlign=top align=left>Disclose the identity of directors who are independent.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The following members of the board of directors of the Company (the &#147;Board&#148;) are considered to be &#147;independent&#148; within the meaning of NI 58-101: S. Paul Simpson, Greg Hall, Earl Drake, Robert Gayton and Yikang Liu.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left>(b)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose the identity of directors who are not independent, and describe the basis for that determination.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The following directors are not independent for the reasons stated: Dr. Rui Feng is currently CEO and Chairman of the Company and Myles Gao is currently President and COO of the Company.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=left>(c)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify " vAlign=top align=left>Disclose whether or not a majority of directors are independent. If a majority of directors are not independent, describe what the Board does to facilitate its exercise of independent judgment in carrying out its responsibilities.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>A majority of the Company&#146;s directors are independent, as four of the six persons nominated as directors qualify as independent directors for the purposes of NI 58-101.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left>(d)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>If a director is presently a director of any other issuer that is a reporting issuer (or the equivalent) in the same jurisdiction or a foreign jurisdiction, identify both the director and the other issuer.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Dr. Rui Feng is a director of New Pacific Metals Corp.; Robert Gayton is a director of each of Nevsun Resources Ltd., Amerigo Resources Ltd., Palo Duro Energy Inc., B2Gold Corp., Quaterra Resources Inc., Western Copper Corp., Eastern Platinum Ltd. and Trans National Minerals Inc.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top noWrap align=left>(e)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Disclose whether or not the independent directors hold regularly scheduled meetings at which non-independent directors and members of management are not in attendance. If the independent directors hold such meetings, disclose the number of meetings held since the beginning of the issuer&#146;s most recently completed financial year. If the independent directors do not hold such meetings, describe what the Board does to facilitate open and candid discussion among its independent directors.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The independent directors hold meetings at which non-independent directors and members of management are not in attendance at the end of every regularly scheduled board meeting. Four such meetings have been held since March 31, 2009.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top noWrap align=left>(f)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose whether or not the chair of the Board is an independent director. If the Board has a chair or lead director who is an independent director, disclose the identity of the independent chair or lead director, and describe his or her role and responsibilities. If the Board has neither a chairthat is independent nor a lead director that is independent, describe what the Board does to provide leadership for its independent directors.</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Dr. Rui Feng, Chair of the Board, is not an independent director. The Board does not currently have an independent lead director. <BR>
          <BR>
          The Board adopted a formal written mandate which defines its stewardship responsibilities to which all Board members strictly adhere are attached hereto as Schedule &#147;1&#148;. <BR>
          <BR>
          The Board also adopted position descriptions for the Chair, the Chair of each Board Committee and the CEO.&nbsp;</TD>
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        <TD colSpan=3>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(g)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose the attendance record of each director for all Board meetings held since the beginning of the issuer&#146;s most recently completed financial year.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; TEXT-INDENT: 1px; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The disclosure of the attendance record of each of the directors&#146; is disclosed in the Information Circular under the heading &#147;Corporate Governance - Summary of Attendance of Directors&#148;&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>2<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 1px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Board Mandate</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose the text of the Board&#146;s written mandate. If the Board does not have a written mandate, describe how the Board delineates its role and responsibilities.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The Board has adopted a formal written mandate which defines its stewardship responsibilities attached hereto as Schedule &#147;1&#148; The Board of Directors Charter of the Company.<BR>
          <BR>
          In addition, the committees of the Board have adopted formal written mandates that define their roles and responsibilities. The mandates are attached hereto as: Schedule &#147;2&#148; Corporate Governance Committee Charter; Schedule &#147;3&#148; Compensation Committee Charter; and Schedule &#147;4&#148; Audit Committee Charter.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>3<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; TEXT-INDENT: 1px; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Position Descriptions</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(a)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose whether or not the Board has developed written position descriptions for the Chair and the Chair of each Board committee. If the Board has not developed written position descriptions for the Chair and/or the Chair of each Board committee, briefly describe how the Board delineates the role and responsibilities of each such position.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The Board has developed written position descriptions for the Chair and the Chair of each Board Committee.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(b)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Disclose whether or not the Board and CEO have developed a written position description for the CEO. If the Board and CEO have not developed such a position description, briefly describe how the Board delineates the role and responsibilities of the CEO.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The Board and CEO have adopted a written position description for the CEO.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>4<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>Orientation and Continuing Education</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(a)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Briefly describe what measures the Board takes to orient new directors regarding (i) the role of the Board, its committees and its directors, and (ii) the nature and operation of the issuer&#146;s business.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Each new director, on joining the Board, is given an outline of the nature of the Company&#146;s business, its corporate strategy, current issues within the Company, the expectations of the Company concerning input from directors and the general responsibilities of the Company&#146;s directors.&nbsp;<BR>
          <BR>
          The Company provides new directors with an orientation program upon joining the Company that includes copies of relevant financial, technical, geological and other information regarding its properties, as well as meetings with management.&nbsp; <BR>
          <BR>
          Board members are encouraged to communicate with management and auditors, to keep themselves current with industry trends and developments, and to attend related industry seminars. The Company may also request that Board members be advised by counsel to the Company of their legal obligations as directors of the Company. Directors have been and will continue to be given tours of the Company&#146;s mines and development sites to give such directors additional insight into the Company&#146;s business.&nbsp; </TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(b)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Briefly describe what measures, if any, the Board takes to provide continuing education for its directors. If the Board does not provide continuing education, describe how the Board ensures that its directors maintain the skill and knowledge necessary to meet their obligations as directors.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Directors have been and will continue to inspect the Company&#146;s sites of mining operations, mine development, and exploration sites to give the directors an updated view of the Company&#146;s business.<BR>
          <BR>
          In addition, from time to time the Company instructs its general counsel and its Corporate Secretary to<BR>
          circulate to the Board members a memorandum summarizing new and evolving precedents applicable to directors of public companies with respect to their conduct, duties and responsibilities. Individual board members and the Corporate Secretary from time to time attend continuing education courses to stay abreast of latest developments in corporate governance and regulatory compliance issues.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>5<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>Ethical Business Conduct</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(a)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Disclose whether or not the Board has adopted a written code for the directors, officers and employees. If the Board has adopted a written code: (i) disclose how a person or company may obtain a copy of the code; (ii) describe how the Board monitors compliance with its code, or if the Board does not monitor compliance, explain whether and how the Board satisfies itself regarding compliance with its code; and (iii) provide a cross reference to any material change report filed since the beginning of the issuer&#146;s most recently completed financial year that pertains to any conduct of a director or executive officer that constitutes a departure from the code.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>As part of its stewardship responsibilities, the Board approved a formal &#147;Code of Business Conduct and Ethics&#148; (the &#147;Code&#148;) that is designed to deter wrong-doing and to promote honest and ethical conduct and full, accurate and timely disclosure. A copy of the Code is available on the Company&#146;s website, www.silvercorp.ca, and may be obtained by contacting the Company at the address on the cover of this Information Circular or at www.sedar.com.<BR>
          <BR>
          The Company&#146;s Corporate Governance Committee is responsible for setting the standards of business conduct contained in the Code and for overseeing and monitoring compliance with the Code. The Code also sets out mechanisms for the reporting of unethical conduct.<BR>
          <BR>
          The Code is applicable to all employees, consultants, officers and directors, regardless of their position with the Company, at all times and everywhere the Company does business. The Code provides that the Company&#146;s employees, consultants, officers and directors will uphold its commitment to a culture of honesty, integrity and accountability.<BR>
          <BR>
          The Board has not granted any waiver of the Code in favor of a director or executive officer, and no material change report has been required or filed in connection with the Code.<BR>
          <BR>
          When proposed transactions or agreements in which directors or officers may have an interest, material or not, are presented to the Board, the directors are required to disclose any such interest and the persons who have such an interest are excluded from all discussion on the matter and are not permitted to vote on the proposal. All such interests in transactions or agreements involving senior management are dealt with by the Board, regardless of apparent immateriality.<BR>
          <BR>
          The Board also adopted a formal &#147;Code of Ethical Conduct for Financial Managers&#148; that is applicable to all Financial Managers of the Company, being the Company&#146;s Chief Executive Officer, Chief Financial Officer, principal accounting officer, controller and persons performing similar functions.<BR>
          <BR>
          Further, the Board approved and implemented a &#147;Whistle Blower&#148; process available to all directors, officers, employees, and any other party. The Chair of the Audit Committee monitors and reports any wrong doing to the Audit Committee. For the most recently completed financial year, no events were reportable.<BR>
          <BR>
          The Board approved and implemented a Corporate Disclosure Policy to ensure that communications to the investing public about the Company and its subsidiaries are timely, factual and accurate; and broadly disseminated in accordance with all applicable legal and regulatory requirements.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(b)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Describe any steps the Board takes to ensure directors exercise independent judgment in considering transactions and agreements in respect of which a director or executive officer has a material interest.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Directors must disclose to the Company&#146;s general counsel any instances in which they perceive they have a material interest in any matter being considered by the Board; and if it is determined there is a conflict of interest, or that a material interest is held, the conflict must be disclosed to the Board. In addition, the interested Board member must refrain from voting and exit the meeting while the transaction at issue is being considered by the Board.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(c)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Describe any other steps the Board takes to encourage and promote a culture of ethical business conduct.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The Company&#146;s Corporate Governance Committee is responsible for setting the standards of business conduct contained in the Code and for overseeing and monitoring compliance with the Code.<BR>
          <BR>
          The Board sets the tone for ethical conduct throughout the Company by considering and discussing ethical considerations when reviewing the corporate transactions of the Company.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>6<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>Nomination of Directors</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(a)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Describe the process by which the Board identifies new candidates for Board nomination.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The Board is responsible for recommending candidates for nomination to the Board and its committees. The Corporate Governance Committee, which is composed entirely of independent directors, assists the Board by identifying and recommending to the Board suitable candidates for nomination as new directors.<BR>
          <BR>
          The Board of Directors has adopted a majority voting policy as advocated by the Canadian Coalition for Good Governance. Each director nominee has agreed to tender their resignation from the board if they obtain less than a majority of votes in favour of their election in uncontested elections.&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(b)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose whether or not the Board has a nominating committee composed entirely of independent directors. If the Board does not have a nominating committee composed entirely of independent directors, describe what steps the Board takes to encourage an objective nomination process.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The Company&#146;s Corporate Governance Committee is composed entirely of independent directors. New nominees must have one or more of the following attributes: a track record in general business management, particularly with public companies; special expertise in an area of strategic interest to the Company; and financial literacy. Nominees must also have the ability to devote the required time to the Company, show support for the Company&#146;s mission and objectives, and have a willingness to serve the Company and its shareholders.&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(c)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>If the Board has a nominating committee, describe the responsibilities, powers and operation of the nominating committee.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The Board is composed of individuals who will best serve the interest of the Company and assist management in achieving the Company&#146;s goals. Members of the Board and representatives of the mining industry are often consulted for potential candidates.&nbsp;</TD>
      </TR>
    </TABLE>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>7<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>Compensation</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(a)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Describe the process by which the Board determines the compensation for the issuer&#146;s directors and officers.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The Company&#146;s CEO and Compensation Committee review overall compensation policies and make recommendations to the Board on the compensation of the Company&#146;s CEO and directors. The Compensation Committee has delegated to the Chief Executive Officer authority to set compensation for other officers.&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(b)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Disclose whether or not the Board has a Compensation Committee composed entirely of independent directors. If the Board does not have a Compensation Committee composed entirely of independent directors, describe what steps the Board takes to ensure an objective process for determining such compensation.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The Corporate Compensation Committee is comprised of three Directors who are independent. The Chair of the Compensation Committee is currently S. Paul Simpson.&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>(c)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>If the Board has a Compensation Committee, describe the responsibilities, powers and operation of the Compensation Committee.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Disclosure about the responsibilities, powers and operation of the Compensation Committee is included in the Information Circular under the heading &#147;Compensation Committee&#148;.&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>(d)</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>If a compensation consultant or advisor has, at any time since the beginning of the issuer&#146;s most recently completed financial year, been retained to assist in determining compensation for any of the issuer&#146;s directors and officers, disclose the identity of the consultant or advisor and briefly summarize the mandate for which they have been retained. If the consultant or advisor has been retained to perform any other work for the issuer, state that fact and briefly describe the nature of the work.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>Within the last fiscal year, no consultants or advisors were retained to assist in determining compensation.<BR>
          <BR>
          The Compensation Committee did purchase the 2009 Mining Industry Salary Survey compiled by a large international accounting firms to confirm the reasonableness of the CEO&#146;s compensation package relative to other North American mining companies with similar revenues.&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>8<B>.</B></B></TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left><B>Other Board Committees</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>&nbsp;</TD>
      </TR>
      <TR vAlign=bottom>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>If the Board has standing committees other than the audit, compensation and nominating committees, identify the committees and describe their function.&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec; text-align:justify" vAlign=top align=left>The Board has no other committees other than as noted above.&nbsp;</TD>
      </TR>
    </TABLE>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left><B>Assessments</B>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ececec" vAlign=top align=left>&nbsp;</TD>
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        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid" vAlign=top align=left>&nbsp;</TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>Disclose whether or not the board, its committees and individual directors are regularly assessed with respect to their effectiveness and contribution. If assessments are regularly conducted, describe the process used for the assessments. If assessments are not regularly conducted, describe how the board satisfies itself that the board, its committees, and its individual directors are performing effectively. </TD>
        <TD style="BORDER-RIGHT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid; text-align:justify" vAlign=top align=left>The Corporate Governance Committee, Compensation Committee, Audit Committee and the Board annually, and at such other times as they deem fit, monitor the adequacy of information given to directors, communications between the Board and management and the strategic direction and processes of the Board and its committees.<BR>
          <BR>
          As part of the assessments, the Board and/or the committees review their respective charters and conduct reviews of applicable corporate policies.&nbsp;</TD>
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<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>exhibit99-3.htm
<DESCRIPTION>PROXY
<TEXT>
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   <TITLE>Exhibit 99.3</TITLE>
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<P align="right" style="font-size:10pt; margin:0px;"><strong>Exhibit 99.3</strong></P>
<A name="page_1"></A><FONT face="Arial Narrow">&nbsp; </FONT>
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<B><FONT face="ArialNarrow-Bold,Times New Roman,Times,serif" size=5><FONT face="Arial Narrow">&nbsp;&nbsp;&nbsp; <img src="silvercorplogo.jpg" width="336" height="88"></FONT></FONT></B>
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     <TD noWrap align=left>
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<IMG src="computersharelogo.jpg" border=0>
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     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=right><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">9th Floor, 100 University Avenue<BR>
Toronto, Ontario M5J 2Y1 <BR>
www.computershare.com </FONT></TD></TR>
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     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
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     <TD noWrap align=left><B><FONT face="Arial Narrow" size=2>&nbsp;</FONT></B></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT><B><FONT face="Arial Narrow" size=2>Security Class</FONT></B></TD></TR>
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     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
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     <TD noWrap align=left><B><FONT face="Arial Narrow" size=2>&nbsp;</FONT></B></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT><B><FONT face="Arial Narrow" size=2>Holder Account Number</FONT></B></TD></TR></TABLE>
<P style="TEXT-ALIGN: justify">&nbsp;</P>
<P align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=4>Form of Proxy - Annual General Meeting to be held on September 30, 2010</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=4>This Form of Proxy is solicited by and on behalf of Management.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=4>Notes to proxy</FONT></B></P>
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     <TD vAlign=top noWrap width="4%"><FONT size=2>1.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2><strong>Every holder has the right to appoint some other person or company of their choice, who need not be a holder, to attend and act on their behalf at the meeting or any adjournment or postponement thereof. If you wish to appoint a person or company other than the persons whose names are printed herein, please insert the name of your chosen proxyholder in the space provided (see reverse).</strong></FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT size=2>2.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>If the securities are registered in the name of more than one owner (for example, joint ownership, trustees, executors, etc.), then all those registered should sign this proxy. If you are voting on behalf of a corporation or another individual you must sign this proxy with signing capacity stated, and you may be required to provide documentation evidencing your power to sign this proxy.</FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT size=2>3.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>This proxy should be signed in the exact manner as the name(s) appear(s) on the proxy.</FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT size=2>4.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>If this proxy is not dated, it will be deemed to bear the date on which it is mailed by Management to the holder.</FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT size=2>5.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2><strong>The securities represented by this proxy will be voted as directed by the holder, however; if such a direction is not made in respect of any matter or is unclear, this proxy will be voted as recommended by Management.</strong></FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT size=2>6.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>The securities represented by this proxy will be voted in favour or withheld from voting or voted against each of the matters described herein, as applicable, in accordance with the instructions of the holder, on any ballot that may be called for and, if the holder has specified a choice with respect to any matter to be acted on, the securities will be voted accordingly.</FONT></P>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT size=2>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>This proxy confers discretionary authority in respect of amendments or variations to matters identified in the Notice of Meeting or other matters that may properly come before the meeting or any adjournment or postponement thereof.</FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
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  <TD vAlign=top noWrap width="4%"><FONT size=2>8.&nbsp; &nbsp; &nbsp; </FONT></TD>
  <TD width="96%">
    <P align=justify><FONT face="Arial Narrow" size=2>This proxy should be read in conjunction with the accompanying documentation provided by Management.</FONT></P>
</TD></TR>
</TABLE>
<P align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT face="Arial Narrow" size=2>Proxies submitted must be received by 10:00 a.m., Pacific Time, on September 28, 2010.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow">VOTE USING THE TELEPHONE OR INTERNET 24 HOURS A DAY 7 DAYS A WEEK!</FONT></B></P>
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     <TD noWrap align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&#149; </FONT></B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Call the number listed BELOW from a touch tone</FONT></TD>
     <TD noWrap align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&#149; </FONT></B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Go to the following web site:</FONT></TD></TR>
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     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">telephone.</FONT></TD>
     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">www.investorvote.com</FONT></TD></TR>
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     <TD noWrap align=left><STRONG><FONT face="Arial Narrow" size=2>1-866-732-VOTE (8683) Toll Free</FONT></STRONG></TD>
     <TD noWrap align=left></TD></TR></TABLE></DIV><BR>
<P align=left><B><FONT face="Arial Narrow" size=2>If you vote by telephone or the Internet, DO NOT mail back this proxy.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=2>Voting by mail </FONT></B><FONT face="Arial Narrow" size=2>may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual.</FONT><br />
<B><FONT face="Arial Narrow" size=2>Voting by mail or by Internet </FONT></B><FONT face="Arial Narrow" size=2>are the only methods by which a holder may appoint a person as proxyholder other than the Management nominees named on the reverse of this proxy. Instead of mailing this proxy, you may choose one of the two voting methods outlined above to vote this proxy.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=2>To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=2>CONTROL NUMBER</FONT></B>
<P style="MARGIN-LEFT: 66%; TEXT-ALIGN: left"><FONT size=1>30JL10051.E.SEDAR/000001/000001/i</FONT></P>
</DIV>
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<P align=right><FONT style="FONT-SIZE: 30pt"><strong>+</strong></FONT></P>
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     <TD noWrap align=left>&nbsp;</TD>
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     <TD noWrap align=left><B><FONT face="Arial Narrow">Appointment of Proxyholder</FONT></B></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
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     <TD vAlign=top noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><STRONG>I/We, being holder(s) of SILVERCORP METALS INC. hereby appoint(s):
     </STRONG>Dr. Rui Feng, <br>
     or failing him Myles Gao, or failing him S. Paul Simpson, or failing him Lorne Waldman,
</FONT></TD>
     <TD vAlign=center noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;<STRONG>OR</STRONG></FONT></TD>
     <TD vAlign=top noWrap align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Print the name of the person you are<br>
appointing if this person is someone<br>
other than the Chairman of the Meeting.
</FONT></B></TD>
     <TD style="BORDER-RIGHT: #000000 2pt solid; BORDER-TOP: #000000 2pt solid; BORDER-LEFT: #000000 2pt solid; BORDER-BOTTOM: #000000 2pt solid" noWrap align=left>&nbsp;</TD></TR></TABLE>
<P style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%; TEXT-ALIGN: justify"><FONT face="Arial Narrow" size=2>as my/our proxyholder with full power of substitution and to attend, act and to vote for and on behalf of the shareholder in accordance with the following direction (or if no directions have been given, as the proxyholder sees fit) and all other matters that may properly come before the Annual General Meeting of shareholders of SILVERCORP METALS INC.to be held at Coal
Harbour Suite at the Pan Pacific Vancouver, 300-999 Canada Place, Vancouver, BC V6C 3B5, on September 30, 2010 at 10:00 AM Pacific Standard Time and at any adjournment or
postponement thereof.</FONT></P>
<P align=left><B><FONT face="Arial Narrow" size=2>VOTING RECOMMENDATIONS ARE INDICATED BY </FONT></B><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>&nbsp;HIGHLIGHTED TEXT&nbsp;</FONT></B> <B><FONT face="Arial Narrow" size=2>OVER THE BOXES.</FONT></B></P>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><B><FONT face="Arial Narrow" size=2>Against</FONT></B>&nbsp;</TD></TR>
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     <TD noWrap align=left><FONT face="Arial Narrow">1. </FONT><B><FONT face="Arial Narrow">Number of Directors</FONT></B>&nbsp;</TD>
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  <TD colspan="9" align=left noWrap><FONT face="Arial Narrow" size=2>To set the number of directors at six (6).</FONT></TD>
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  <TD vAlign=center noWrap align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></TD>
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     <TD noWrap align=left><FONT face="Arial Narrow" size=2>2. <B>Election of Directors</B>&nbsp;</FONT></TD>
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     <TD noWrap align=left><FONT face="Arial Narrow" size=2>01. Dr. Rui Feng</FONT></TD>
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     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=left><FONT face="Arial Narrow" size=2>02. Myles Gao</FONT></TD>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>03. S. Paul Simpson</FONT></TD>
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     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
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     <TD noWrap align=left><FONT face="Arial Narrow" size=2>04. Earl Drake</FONT></TD>
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     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=left><FONT face="Arial Narrow" size=2>05. Yikang Liu</FONT></TD>
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     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>06. Robert Gayton</FONT></TD>
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     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><B><FONT face="Arial Narrow" size=2>Withhold</FONT></B>&nbsp;</TD></TR>
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  <TD noWrap align=left><FONT face="Arial Narrow" size=2>3. <B>Appointment of Auditors</B></FONT>&nbsp;</TD>
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  <TD align=left colSpan=9><FONT face="Arial Narrow" size=2>Re-appointment of <b>Ernst & Young LLP</b> as Auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration.</FONT></TD>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><B><FONT face="Arial Narrow" size=2>Against</FONT></B>&nbsp;</TD></TR>
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  <TD noWrap align=left><FONT face="Arial Narrow" size=2>4. <B>Approval and Ratification of Acts of Directors and Officers</B></FONT></TD>
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  <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD>
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  <TD vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
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  <TD align=left colSpan=9><FONT face="Arial Narrow" size=2>To approve, ratify and confirm all acts of the Directors and Officers of the Company on its behalf during the preceding year.</FONT></TD>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><B><FONT face="Arial Narrow" size=2>Against</FONT></B>&nbsp;</TD></TR>
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  <TD noWrap align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
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  <TD noWrap align=left><FONT face="Arial Narrow" size=2>5. <strong>Transact Other Business</strong></FONT></TD>
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  <TD align=left colSpan=9><FONT face="Arial Narrow" size=2>To transact such further and other business as may properly be brought before the Meeting or at any adjournments thereof.</FONT></TD>
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<P>&nbsp;</P>
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     <TD vAlign=top align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Authorized Signature(s) - This section must be completed for your </B><B>instructions to be executed.</B></FONT></TD>
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     <TD align=left valign="top" noWrap><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Signature(s)</FONT></B><FONT size=1>&nbsp;</FONT></TD>
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     <TD align=left valign="top" noWrap><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Date</FONT></B><FONT size=1>&nbsp;</FONT></TD>
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     <TD vAlign=top align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">I/We authorize you to act in accordance with my/our instructions set out above. I/We hereby
revoke any proxy previously given with respect to the Meeting. <strong>If no voting instructions are indicated above, this Proxy will be voted as recommended by Management.</strong></FONT></TD>
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     <TD style="BORDER-BOTTOM: #000000 2px solid" noWrap align=left><FONT style="FONT-SIZE: 18pt" face="Arial Narrow"><FONT color=#ececec>DD</FONT> / <FONT color=#ececec>MM</FONT> / <FONT color=#ececec>YY</FONT></FONT></TD>
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      <TD width="40%" align=left vAlign=top><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><strong>Interim Financial Statements</strong> - Mark this box if you would like to receive interim financial statements and accompanying Management&#146;s Discussion and Analysis by mail.</FONT></TD>
      <TD width="10%" align=center vAlign=center noWrap><FONT size=1><FONT face=Wingdings size=4>&#168;</FONT></TD>
      <TD width="40%" align=left vAlign=top><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><strong>Annual Financial Statements</strong></B> - Mark this box if you would like to
receive the Annual Financial Statements and accompanying Management&#146;s Discussion and Analysis by mail.</FONT></TD>
      <TD width="10%" align=center vAlign=center noWrap><FONT face=Wingdings size=4>&#168;</FONT></TD>
    </TR>
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  <br>
  <FONT face="Arial Narrow" size=1>If you are not mailing back your proxy, you may register online to receive the above financial report(s) by mail at www.computershare.com/mailinglist.</FONT><BR>
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     <TD noWrap align=left><FONT face=Wingdings size=6>n</FONT></TD>
     <TD noWrap align=right><FONT face="Arial Narrow">1 0 1 1 6 6</FONT></TD>
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     <TD noWrap align=right><FONT face="Arial Narrow">S R L Q</FONT></TD>
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<P align=right><FONT style="FONT-SIZE: 30pt"><strong>+</strong></FONT></P>
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<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>exhibit99-4.htm
<DESCRIPTION>VOTING INSTRUCTION FORM
<TEXT>

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   <TITLE>Exhibit 99.4</TITLE>
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<P style="MARGIN: 0px" align=right><B>Exhibit 99.4</B></P>
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<B><FONT face="ArialNarrow-Bold,Times New Roman,Times,serif" size=5><FONT face="Arial Narrow">&nbsp;&nbsp;&nbsp;</FONT></FONT></B>
<img src="silvercorplogo.jpg" width="336" height="88"></TD>
     <TD noWrap align=left>
<P align=right>
<IMG src="computersharelogo.jpg" border=0>
</P>
</TD></TR>
<TR>
     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=right><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">9th Floor, 100 University Avenue<BR>
Toronto, Ontario M5J 2Y1 <BR>
www.computershare.com </FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left></TD></TR>
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     <TD noWrap align=left></TD></TR>
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     <TD noWrap align=left><B><FONT face="Arial Narrow" size=2>&nbsp;</FONT></B></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT><B><FONT face="Arial Narrow" size=2>Security Class</FONT></B></TD></TR>
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     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT face="Arial Narrow" size=2>&nbsp;</FONT></B></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT><B><FONT face="Arial Narrow" size=2>Holder Account Number</FONT></B></TD></TR></TABLE></DIV><BR>
<P style="TEXT-ALIGN: justify">&nbsp;</P>
<P align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=4>Voting Instruction Form (&#147;VIF&#148;) - Annual General Meeting to be held on September 30, 2010</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=4>NON-REGISTERED (BENEFICIAL) SHAREHOLDERS</FONT></B><B><FONT size=3></FONT></B></P>
<TABLE style="FONT-SIZE: 10pt; FONT-FAMILY: '''''''''Times New Roman'''''''''" cellSpacing=0 width="100%" border=0>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>1.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>We are sending to you the enclosed proxy-related materials that relate to a meeting of the holders of the series or class of securities that are held on your behalf by the intermediary identified above. Unless you attend the meeting and vote in person, your securities can be voted only by Management, as proxyholder of the registered holder, in accordance with your instructions.</FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>2.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>We are prohibited from voting these securities on any of the matters to be acted upon at the meeting without your specific voting instructions. In order for these securities to be voted at the meeting, it will be necessary for us to have your specific voting instructions. Please complete and return the information requested in this VIF to provide your voting instructions to us promptly.</FONT></P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>3.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2><strong>If you wish to attend the meeting in person or appoint some other person or company, who need not be a shareholder, to attend and act on your behalf at the meeting or any adjournment or postponement thereof, please insert your name(s) or the name of your chosen appointee in the space provided (please see reverse).</strong></FONT></P>
</TD></TR>
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     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>4.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2><strong>This VIF should be signed by you in the exact manner as your name appears on the VIF. If these voting instructions are given on behalf of a body corporate set out the full legal name of the body corporate, the name and position of the person giving voting instructions on behalf of the body corporate and the address for service of the body corporate.</strong></FONT></P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>5.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>If this VIF is not dated, it will be deemed to bear the date on which it is mailed by Management to you.</FONT></P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>6.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2><strong>When properly signed and delivered, securities represented by this VIF will be voted as directed by you, however, if such a direction is not made in respect of any matter, the VIF will direct the voting of the securities to be made as recommended in the documentation provided by Management for the meeting.</strong></FONT></P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>This VIF confers discretionary authority on the appointee to vote as the appointee sees fit in respect of amendments or variations to matters identified in the Notice of Meeting or other matters as may properly come before the meeting or any adjournment or postponement thereof.</FONT></P>
</TD></TR>
<TR height=20>
     <TD vAlign=top noWrap width="4%"></TD>
     <TD width="96%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
     <TD vAlign=top noWrap width="4%"><FONT face="Arial Narrow" size=2>8.&nbsp; &nbsp; &nbsp; </FONT></TD>
     <TD width="96%">
<P align=justify><FONT face="Arial Narrow" size=2>Should you wish to receive a legal form of proxy, please write to Computershare at the address indicated above and one will be sent to you by mail. Please remember that a legal proxy is subject to all terms and conditions that apply to proxies as outlined in the documentation provided by Management including any cut-off time for receipt.</FONT></P>
</TD></TR>
<TR>
  <TD vAlign=top noWrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR>
  <TD vAlign=top noWrap><FONT face="Arial Narrow" size=2>9.&nbsp; &nbsp; &nbsp; </FONT></TD>
  <TD><P align=justify><FONT face="Arial Narrow" size=2>Your voting instructions will be recorded on receipt of the VIF and a legal form of proxy will be submitted on your behalf.</FONT></P></TD>
</TR>
<TR>
  <TD vAlign=top noWrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR>
  <TD vAlign=top noWrap><FONT face="Arial Narrow" size=2>10.&nbsp; &nbsp; &nbsp; </FONT></TD>
  <TD><FONT face="Arial Narrow" size=2>By providing voting instructions as requested, you are acknowledging that you are the beneficial owner of, and are entitled to instruct us with respect to the voting of, these securities.</FONT></TD>
</TR>
<TR>
  <TD vAlign=top noWrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR>
  <TD vAlign=top noWrap><FONT face="Arial Narrow" size=2>11.&nbsp; &nbsp; &nbsp; </FONT></TD>
  <TD><FONT face="Arial Narrow" size=2>If you have any questions regarding the enclosed documents, please contact the Registered Representative who services your account.</FONT></TD>
</TR>
<TR>
  <TD vAlign=top noWrap>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR>
  <TD vAlign=top noWrap><FONT face="Arial Narrow" size=2>12.&nbsp; &nbsp; &nbsp; </FONT></TD>
  <TD><FONT face="Arial Narrow" size=2>This VIF should be read in conjunction with the accompanying documentation provided by Management.</FONT></TD>
</TR>
</TABLE>
<P align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></P>
<P style="TEXT-ALIGN: center"><FONT face="Arial Narrow" size=2><B>VIFs submitted must be received by 10:00 a.m., Pacific Time, on September 28, 2010.</B></FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow">VOTE USING THE TELEPHONE OR INTERNET 24 HOURS A DAY 7 DAYS A WEEK!</FONT></B></P>
<DIV align=left>
<TABLE cellSpacing=0 cellPadding=0 width=510 border=0>
<TR>
     <TD width="60%">
<IMG src="proxyx1x2.jpg" border=0>
</TD>
     <TD width="39%">
<IMG src="proxyx1x3.jpg" border=0>
</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&#149; </FONT></B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Call the number listed BELOW from a touch tone</FONT></TD>
     <TD noWrap align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&#149; </FONT></B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Go to the following web site:</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">telephone.</FONT></TD>
     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">www.investorvote.com</FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left><STRONG><FONT face="Arial Narrow" size=2>1-866-734-VOTE (8683) Toll Free</FONT></STRONG></TD>
     <TD noWrap align=left></TD></TR></TABLE></DIV><BR>
<P align=left><B><FONT face="Arial Narrow" size=2>If you vote by telephone or the Internet, DO NOT mail back this VIF.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=2>Voting by mail </FONT></B><FONT face="Arial Narrow" size=2>may be the only method for securities held in the name of a corporation or securities being voted on behalf of another individual.</FONT><br>
  <B><FONT face="Arial Narrow" size=2>Voting by mail or by Internet </FONT></B><FONT face="Arial Narrow" size=2>are the only methods by which a holder may choose an appointee other than the Management appointees named on the reverse of this VIF. Instead of mailing this VIF,
you may choose one of the two voting methods outlined above to vote this VIF.</FONT></P>
<P style="TEXT-ALIGN: justify"><B><FONT face="Arial Narrow" size=2>To vote by telephone or the Internet, you will need to provide your CONTROL NUMBER listed below.</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT face="Arial Narrow" size=2><B>CONTROL NUMBER</B></FONT></P>
<P style="MARGIN-LEFT: 66%; TEXT-ALIGN: left"><FONT size=1>30JL10051.NOBO.E.SEDAR/000001/000001/i</FONT></P>
</DIV>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" noShade SIZE=1>
<BR>
<A name="page_2"></A><BR>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%" align=left>
<TABLE cellSpacing=0 width="100%" border=0>
<TR>
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     <TD width="5%"></TD>
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     <TD noWrap align=left><FONT style="FONT-SIZE: 30pt"><strong>+</strong></FONT></TD>
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     <TD noWrap align=left>
<P align=right><FONT face="Arial Narrow"></FONT>&nbsp;</P>
</TD>
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<P align=right><FONT style="FONT-SIZE: 30pt"><strong>+</strong></FONT></P>
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     <TD noWrap align=left>&nbsp;</TD>
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     <TD noWrap align=left><B><FONT face="Arial Narrow">Appointee(s)</FONT></B></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left><FONT face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD vAlign=top align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><STRONG>Management Appointees are:</STRONG>Dr. Rui Feng,
     or failing him Myles Gao, or failing him S. Paul Simpson, or failing him Lorne Waldman
</FONT></TD>
     <TD vAlign=center noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;<STRONG>OR</STRONG></FONT></TD>
     <TD vAlign=top align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">If you wish to attend in person or appoint
someone else to attend on your behalf,
print your name or the name of your
appointee in this space (see Note #3 on
reverse).
</FONT></B></TD>
  <TD style="BORDER-RIGHT: #000000 2pt solid; BORDER-TOP: #000000 2pt solid; BORDER-LEFT: #000000 2pt solid; BORDER-BOTTOM: #000000 2pt solid" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">&nbsp;</FONT></TD>
     <TD noWrap align=left><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"></FONT></B></TD>
     <TD noWrap align=left></TD></TR></TABLE></DIV>
<P style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%; TEXT-ALIGN: justify"><FONT face="Arial Narrow" size=2>as my/our appointee to attend, act and to vote in accordance with the following direction (or if no directions have been given, as the appointee sees fit) and all other matters that may properly
come before the Annual General Meeting of Shareholders of SILVERCORP METALS INC. that will be held at Coal Harbour Suite at the Pan Pacific Vancouver, 300-999 Canada Place, Vancouver, BC V6C 3B5, on September 30, 2010 at 10:00 AM Pacific Standard Time and at any adjournment or postponement thereof.</FONT></P>
<P align=left><B><FONT face="Arial Narrow" size=2>VOTING RECOMMENDATIONS ARE INDICATED BY </FONT></B><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>&nbsp;HIGHLIGHTED TEXT&nbsp;</FONT></B> <B><FONT face="Arial Narrow" size=2>OVER THE BOXES.</FONT></B></P>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%" align=left>
<TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''''''''''Times New Roman''''''''''''''" cellSpacing=0 border=0>
<TR>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Against</B>&nbsp;</FONT></TD></TR>
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     <TD noWrap align=left>&nbsp;</TD>
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     <TD noWrap align=left></TD>
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<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>1. <B>Number of Directors</B>&nbsp;</FONT></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
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     <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD vAlign=center noWrap align=center></TD>
     <TD vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
<TR height=20>
  <TD colspan="9" align=left noWrap><FONT face="Arial Narrow" size=2>To set the number of directors at six (6).</FONT></TD>
  <TD vAlign=center noWrap align=center></TD></TR>
<TR height=20>
  <TD colspan="9" align=right noWrap></TD>
  <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center>&nbsp;</TD>
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  <TD vAlign=center noWrap align=right></TD>
</TR>
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  <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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  <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
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  <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center></TD>
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  <TR height=20>
  <TD colspan="9" align=right noWrap></TD>
  <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center>&nbsp;</TD>
  <TD vAlign=center noWrap align=center></TD>
  <TD vAlign=center noWrap align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></TD>
</TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>2. <B>Election of Directors</B>&nbsp;</FONT></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
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     <TD noWrap align=left>&nbsp;</TD>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center>&nbsp;</TD>
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<TR vAlign=bottom>
     <TD noWrap align=center></TD>
     <TD style="TEXT-INDENT: 0px; BACKGROUND-COLOR: #000000" noWrap align=center><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Withhold</B></FONT></TD>
     <TD noWrap align=center></TD>
     <TD noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD noWrap align=center>&nbsp;</TD>
     <TD noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Withhold</B>&nbsp;</FONT></TD>
     <TD noWrap align=center></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD noWrap align=center></TD>
     <TD noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Withhold</B>&nbsp;</FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left></TD>
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<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>01. Dr. Rui Feng</FONT></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=left><FONT face="Arial Narrow" size=2>02. Myles Gao</FONT></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>03. Paul Simpson</FONT></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=center></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left>&nbsp;</TD>
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<TR vAlign=bottom>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>04. Earl Drake</FONT></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=left><FONT face="Arial Narrow" size=2>05. Yikang Liu</FONT></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=left><FONT face="Arial Narrow" size=2>06. Robert Gayton</FONT></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD>
     <TD noWrap align=center></TD>
     <TD noWrap align=center><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center></TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Withhold</B>&nbsp;</FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left>&nbsp;</TD>
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<TR vAlign=bottom>
  <TD noWrap align=left><FONT face="Arial Narrow" size=2>3. <B>Appointment of Auditors</B>&nbsp;</FONT></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD>
  <TD vAlign=center noWrap align=center></TD>
  <TD vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
<TR vAlign=bottom>
  <TD align=left colSpan=9><FONT face="Arial Narrow" size=2>To appoint <strong>Ernst & Young LLP</strong> as Auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration.</FONT></TD>
  <TD vAlign=center noWrap align=center></TD></TR>
<TR height=20>
     <TD align=left colSpan=8>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Against</B>&nbsp;</FONT></TD></TR>
<TR height=20>
     <TD noWrap align=left>&nbsp;</TD>
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<TR vAlign=bottom>
  <TD noWrap align=left><FONT face="Arial Narrow" size=2>4. <B>Approval and Ratification of Acts of Directors and Officers</B></FONT></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD>
  <TD vAlign=center noWrap align=center></TD>
  <TD vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
<TR vAlign=bottom>
  <TD align=left colSpan=9><FONT face="Arial Narrow" size=2>To approve, ratify and confirm all acts of the Directors and Officers of the Company on its behalf during the preceding year.</FONT></TD>
  <TD vAlign=center noWrap align=center></TD></TR>
<TR height=20>
  <TD align=left colSpan=8>&nbsp;</TD>
  <TD noWrap align=left></TD>
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</TR>
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     <TD align=left colSpan=8>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
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     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=left></TD>
     <TD style="TEXT-INDENT: 0px" noWrap align=center bgColor=#000000><B><FONT style="FONT-SIZE: 9pt; BACKGROUND-COLOR: #000000" face="Arial Narrow" color=#ffffff>For</FONT></B>&nbsp;</TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center></TD>
     <TD style="BACKGROUND-COLOR: #ececec" noWrap align=center><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Against</B>&nbsp;</FONT></TD></TR>
<TR height=20>
  <TD align=left colSpan=8>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=center></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=right><FONT face="Arial Narrow" size=1>-------</FONT><BR>
<FONT face="Arial Narrow" size=1>Fold</FONT></TD>
</TR>
<TR vAlign=bottom>
  <TD noWrap align=left><FONT face="Arial Narrow" size=2>5. <strong>Transact Other Business</strong></FONT></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD noWrap align=left>&nbsp;</TD>
  <TD noWrap align=left></TD>
  <TD style="TEXT-INDENT: 0px" vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD>
  <TD vAlign=center noWrap align=center></TD>
  <TD vAlign=center noWrap align=center rowSpan=2><FONT face=Wingdings size=4>&#168;</FONT></TD></TR>
<TR vAlign=bottom>
  <TD align=left colSpan=9><FONT face="Arial Narrow" size=2>To transact such further and other business as may properly be brought before the Meeting or at any adjournments thereof.</FONT></TD>
  <TD vAlign=center noWrap align=center></TD></TR>
</TABLE></DIV>
<P>&nbsp;</P>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%" align=left>
<TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''''''''''Times New Roman''''''''''''''" cellSpacing=0 border=0>
<TR>
     <TD width="50%"></TD>
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     <TD width="5%"></TD>
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     <TD width="19%"></TD></TR>
<TR height=20>
     <TD style="BORDER-TOP: #000000 2px dotted">&nbsp;</TD>
     <TD style="BORDER-TOP: #000000 2px dotted">&nbsp;</TD>
     <TD style="BORDER-TOP: #000000 2px dotted">&nbsp;</TD>
     <TD style="BORDER-TOP: #000000 2px dotted">&nbsp;</TD>
     <TD style="BORDER-TOP: #000000 2px dotted">&nbsp;</TD>
     <TD style="BORDER-TOP: #000000 2px dotted">&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD vAlign=top align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><B>Authorized Signature(s) - This section must be completed for your </B><B>instructions to be executed.</B></FONT></TD>
     <TD vAlign=top align=left></TD>
     <TD align=left valign="top" noWrap><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Signature(s)</FONT></B><FONT size=1>&nbsp;</FONT></TD>
     <TD align=left valign="top" noWrap></TD>
     <TD align=left valign="top" noWrap><B><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Date</FONT></B><FONT size=1>&nbsp;</FONT></TD>
    <TD noWrap align=left></TD></TR>
<TR height=20>
     <TD vAlign=top align=left>&nbsp;</TD>
     <TD vAlign=top align=left></TD>
     <TD noWrap align=left></TD>
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     <TD noWrap align=left></TD></TR>
<TR vAlign=bottom>
     <TD vAlign=top align=left><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">If you are voting on behalf of a corporation or another individual you may be required to provide
documentation evidencing your power to sign this VIF with signing capacity stated.</FONT></TD>
     <TD vAlign=top align=left>&nbsp;</TD>
     <TD style="BORDER-RIGHT: #000000 2px solid; BORDER-TOP: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BORDER-BOTTOM: #000000 2px solid" noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2px solid" noWrap align=left><FONT style="FONT-SIZE: 18pt" face="arial narrow"><FONT color=#ececec>DD</FONT> / <FONT color=#ececec>MM</FONT> / <FONT color=#ececec>YY</FONT></FONT></TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR height=20>
     <TD style="BORDER-BOTTOM: #000000 2px dotted" vAlign=top align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2px dotted" vAlign=top align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2px dotted" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2px dotted" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 2px dotted" noWrap align=left>&nbsp;</TD>
<TD style="BORDER-BOTTOM: #000000 2px dotted" noWrap align=left>&nbsp;</TD></TR></TABLE></DIV>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">&nbsp;</DIV>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <TABLE style="FONT-SIZE: 10pt; WIDTH: 100%; FONT-FAMILY: ''''''''''''''Times New Roman''''''''''''''" cellSpacing=0 border=0>
    <TR>
      <TD width="25%"></TD>
      <TD width="15%"></TD>
      <TD width="25%"></TD>
      <TD width="15%"></TD>
      <TD width="20%"></TD>
    </TR>
    <TR vAlign=bottom>
      <TD width="25%" align=left vAlign=top><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><strong>Interim Financial Statements</strong> - Mark this box if you would like to receive interim financial statements and accompanying Management&#146;s Discussion and Analysis by mail.</FONT></TD>
      <TD width="15%" align=center vAlign=center noWrap><FONT size=1><FONT face=Wingdings size=4>&#168;</FONT></TD>
      <TD width="25%" align=left vAlign=top><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><strong>Annual Financial Statements</strong></B> - Mark this box if you would like to receive the Annual Financial Statements and accompanying Management&#146;s Discussion and Analysis by mail.</FONT></TD>
      <TD width="15%" align=center vAlign=center noWrap><FONT face=Wingdings size=4>&#168;</FONT></TD>
      <TD width="20%" align=left vAlign=top><FONT style="FONT-SIZE: 9pt" face="Arial Narrow">Should you wish to receive a legal proxy, refer to Note #8 on reverse.</FONT></TD>
    </TR>
  </TABLE>
  <br>
  <FONT style="FONT-SIZE: 9pt" face="Arial Narrow">If you are not mailing back your VIF, you may register online to receive the above financial report(s) by mail at www.computershare.com/mailinglist.</FONT><BR>
&nbsp;</DIV>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%" align=left>
<TABLE cellSpacing=0 width="100%" border=0>
<TR>
     <TD width="5%"></TD>
     <TD width="30%"></TD>
     <TD width="30%"></TD>
     <TD width="30%"></TD>
     <TD width="5%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT face=Wingdings size=6>n</FONT></TD>
     <TD noWrap align=right><FONT face="Arial Narrow">1 0 1 1 6 5</FONT></TD>
     <TD noWrap align=right><FONT face="Arial Narrow">A R 1</FONT></TD>
     <TD noWrap align=right><FONT face="Arial Narrow">S R L Q</FONT></TD>
     <TD noWrap align=left>
<P align=right><FONT style="FONT-SIZE: 30pt"><strong>+</strong></FONT></P>
</TD></TR></TABLE></DIV>
<DIV style="PADDING-RIGHT: 0%; PADDING-LEFT: 0%"><BR>
</DIV>
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</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>exhibit99-5.htm
<DESCRIPTION>RETURN CARD
<TEXT>

<HTML>
<HEAD>
   <TITLE>Exhibit 99.5</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">

<hr noshade size="3">
<P align="right" style="font-size:10pt; margin:0px;"><strong>Exhibit 99.5</strong></P><BR>
<TABLE width="100%" border=0 cellSpacing=0>
  <TR>
    <TD width="50%"></TD>
    <TD></TD>
    <TD></TD>
    <TD></TD>
    <TD width="5%"></TD>
  </TR>
  <TR height=20>
    <TD width="50%" align=left valign="right
     " noWrap><B><FONT face="ArialNarrow-Bold,Times New Roman,Times,serif" size=5><FONT face="Arial Narrow">&nbsp;&nbsp;&nbsp;<img src="silvercorplogo.jpg" width="336" height="88"></FONT></FONT></B></TD>
    <TD colspan="3" align=left valign="bottom" noWrap><P align=right><b><font face="ArialNarrow-Bold,Times New Roman,Times,serif" size=5><font face="Arial Narrow"><img src="computersharelogo.jpg" alt="" border=0></font></font></b></P></TD>
    <TD width="5%" align=center noWrap><FONT style="FONT-SIZE: 24pt"><strong>+</strong></FONT></TD>
  </TR>
  <TR>
    <TD width="50%" align=right noWrap>&nbsp;</TD>
    <TD colspan="3" align=right noWrap><p></FONT><font style="FONT-SIZE: 9pt" face="Arial Narrow">Please return completed form to:<br>
      Computershare<br>
      9th Floor, 100 University Avenue<br>
      Toronto, Ontario M5J 2Y1</font><FONT style="FONT-SIZE: 9pt" face="Arial Narrow"><BR>
      </FONT></p></TD>
    <TD width="5%" align=right noWrap>&nbsp;</TD>
  </TR>
</TABLE>
<p>&nbsp;</p>
<TABLE cellSpacing=0 width="100%" border=0>
  <TR>
    <TD width="10%"></TD>
    <TD width="30%"></TD>
    <TD width="10%"></TD>
    <TD width="30%"></TD>
    <TD width="20%"></TD>
  </TR>
  <TR height=20>
    <TD width="10%" align=center vAlign=center noWrap>&nbsp;</TD>
    <TD width="30%" align=left vAlign=top noWrap>&nbsp;</TD>
    <TD width="10%" align=center vAlign=center noWrap>&nbsp;</TD>
    <TD width="30%" align=left vAlign=top noWrap>&nbsp;</TD>
    <TD width="20%" align=left vAlign=top noWrap>&nbsp;</TD>
  </TR>
  <TR vAlign=bottom>
    <TD width="10%" align=center vAlign=center noWrap><FONT face=Wingdings size=10>&#168;</FONT></TD>
    <TD width="30%" align=left vAlign=top><p><B><FONT style="FONT-SIZE: 12pt" face="Arial Narrow"><u>Interim Financial Statements<br>
    </u></FONT></B><FONT style="FONT-SIZE: 12pt" face="Arial Narrow">Mark this box if you would like to receive interim financial statements and accompanying Management's Discussion and Analysis by mail.</FONT></p></TD>
    <TD width="10%" align=center vAlign=center noWrap><FONT face=Wingdings size=10>&#168;</FONT></TD>
    <TD width="30%" align=left vAlign=top><B><FONT style="FONT-SIZE: 12pt" face="Arial Narrow"><u>Annual Financial Statements</u></FONT></B><FONT style="FONT-SIZE: 12pt" face="Arial Narrow"><br>
    Mark this box if you would like to receive the Annual Financial Statements by mail.</FONT></TD>
    <TD width="20%" align=left vAlign=top>&nbsp;</TD>
  </TR>
</TABLE>
<P style="MARGIN-LEFT: 60%" align=left>&nbsp;</P>
<TABLE cellSpacing=0 cellPadding=4 width="100%" border=0>
  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 2pt solid; BORDER-BOTTOM: #000000 2pt solid" align=left width="100%"><B><FONT face=sans-serif size=4>Financial Statements Request Form</FONT></B></TD>
  </TR>
</TABLE>
<P align=justify><FONT style="FONT-SIZE: 12pt" face="Arial Narrow">Rather than receiving financial statements by mail, you may choose to access them at www.sedar.com, or by registering online at
www.computershare.com/mailinglist. If you would like to receive either interim financial statements and associated Management
Discussion and Analysis and/or the annual financial statements and associated Management Discussion and Analysis, please
make your selection above.</FONT></P>
<P align=justify><FONT style="FONT-SIZE: 12pt" face="Arial Narrow">Computershare will use the information collected solely for the mailing of such financial statements. You may view Computershare's Privacy Code at
  www.computershare.com/privacy or by requesting that we mail you a copy.</FONT></P>
<p>&nbsp;</p>
<p align="justify"><FONT style="FONT-SIZE: 12pt" face="Arial Narrow"><strong>Please place my name on your financial statements mailing list.</strong></FONT></p>
<TABLE cellSpacing=0 width="100%" border=0>
  <TR>
    <TD colspan="60"><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>Name</FONT></TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%"><P>&nbsp;</P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="60" >&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="4" ><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>Apt.&nbsp; &nbsp; </FONT></TD>
    <TD colspan="5" ><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>Street Number</FONT></TD>
    <TD colspan="51" ><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>Street Name</FONT></TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%"><P>&nbsp;</P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
  </TR>
  <TR>
    <TD colspan="60" >&nbsp;</TD>
  </TR>
</TABLE>
<TABLE cellSpacing=0 width="100%" border=0>
  <TR>
    <TD colspan="51"><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>City</FONT></TD>
    <TD colspan="2" nowrap><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>Prov / State</FONT></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" nowrap><FONT face="Arial Narrow,Times New Roman,Times,serif" size=2>Postal Code / ZipCode</FONT></TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%"><P>&nbsp;</P></TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 0pt solid; BORDER-BOTTOM: #000000 0pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt dotted; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid" width="1%">&nbsp;</TD>
    <TD style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 0pt solid; BORDER-BOTTOM: #000000 0pt solid" width="1%">&nbsp;</TD>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
