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Addendum to the Collom Area Geology Pre - Feasibility Report <br />3.0 Geological Audits and Corporate Oversight <br />Rio Tinto personnel reviewed the geological resource model in April, 2006. <br />Mike K.G. Whateley and John E. Forkes of Rio Tinto Technical Services (TS) <br />performed the review on behalf of Colowyo. <br />TS personnel prepared a summary entitled "Review of the S Taylor, Collom & <br />Lower Wilson Resource Models ", May 29, 2006, document BR3242. A copy of <br />the TS report resides in Appendix <br />The following excerpt lists the major findings from the TS report: <br />• The CCC resource model is considered to be at feasibility study level. It <br />reflects KEC's attitude to risk and uncertainty <br />• Comparison of selected CCC estimates vs. TS estimates in most cases <br />show good agreement <br />• The CCC MineScape resource model approach, with latest geological <br />correlations, is setting the foundations for best practice <br />i <br />• Data management is of a high standard. Data are stored <br />o In a well ordered hard copy filing system <br />o In a reliable electronic database <br />o With clearly defined procedures <br />• Data Capture <br />• QA / QC Procedures have been improved <br />• CCC has comprehensive audit trails in both paper and electronic <br />forms <br />• CCC resource definitions are <br />o Measured <1000 ft <br />• Indicated <2000 ft <br />• Inferred >2000 ft <br />• The target for a FS is to have 80% of the resources in the Measured and <br />Indicated resource categories <br />September 2006 Page 7 of 25 <br />