Share Capital

Capitalization: 100,000,000 common shares with no par value

Common shares issued and outstanding: 13,545,916 

Escrowed Shares: 6,680,000 common shares

Insiders: 49.5% of outstanding shares

Cash: As Jan 2005: C$800 000

Outstanding: 13,717,416

Options: 1,223,500

Warrants: 2,036,584

Fully Diluted: 16,917,500

Stock Exchange and Symbol:

TSX Venture Exchange: MAW