Item 3.02 Unregistered Sales of Equity Securities

On April 16, 2008, we issued 350,000 common shares in the capital of our company to an accredited investor pursuant to the terms of a public relations, promotion and marketing letter agreement. We issued all 350,000 common shares to one U.S. persons (as that term is defined in Regulation S of the Securities Act of 1933) relying upon Rule 506 of Regulation D of the Securities Act of 1933.

Also on April 16, 2008, we issued 1,400,000 common shares in the capital of our company in lieu of a property payment of $50,000 for our Los Chorros property. We issued all of the 1,400,000 common shares to one non-U.S. person (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act of 1933, as amended.

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