Corporate Structure

Notes:
1) The State of Mali owns 10% of KJVS.
2) John Gordon Cluff owns 1% of CGSL as the laws of Sierra Leone require a minimum of 2 shareholders per company.
3) Investissment Moto Agricole Realisation Burkina (“IMAR-B”), a Burkina Faso company, owns 12% and the state of Burkina Faso owns 10% of KMSA.
4) The State of Côte d’Ivoire owns 10% of YMSA (pursuant to Article 5 of the Cote d’Ivoire Mining Code).