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WITH RESPECT TO:
Maximum Ventures Inc. (the "Plaintiff")
v.
Kenneth de Graaf, De Randt Enterprises Corp.,
Brant Enterprises Inc., Unicum Gold JV XXK, Q-Dimensions Inc.
(the "de Graaf Defendants") and
Western Prospector Group Ltd.
in the Supreme Court of British Columbia (the "Court")
Action No. S061401, Vancouver Registry
This case was discontinued by request of the Plaintiff on February 27, 2008.
WITH RESPECT TO:
Western Prospector Mongolia LLC ("WPM")
v.
Adamas Mining LLC ("Adamas")
In the Bayanzurkh District Court of Mongolia
FREQUENTLY ASKED QUESTIONS
Western Prospector Group Ltd. ("Western Prospector" or the "Company") has received a number of questions related to the Adamas lawsuit, which are set out and answered below.
NOTE: The litigation information provided herein is for information purposes only, is subject to change without notice, and should not be relied upon for investment purposes. The company assumes no obligation to update or revise this information whether as a result of new information, future events or otherwise and assumes no responsibility for its accuracy.
1. What is the purpose of the litigation?
On December 7, 2004, WPM entered into an agreement with Adamas concerning minerals exploration license 3367X, a license area in the Dornod province of Mongolia, but not part of the area covered by the Company's Preliminary Economic Assessment on the Gurvanbulag Central property. The agreement specified that a joint venture would be formed between WPM (70% ownership of the joint venture) and Adamas (30% ownership of the joint venture) to hold license 3367X, upon WPM meeting certain obligations. Among other things, WPM's obligations included a schedule of cash payments and a schedule of minimum exploration expenditures on the property. WPM believes it has complied with all obligations under the agreement, and filed suit in January 2008 to compel Adamas to enter into the anticipated joint venture between the entities.
2. Is there any way I can get the court docket and filings on the internet?
The Court Docket is not available "on line" from the Mongolian courts but an unofficial English language translation of the Judge's decision, which includes relevant portions of the Company's assertions and Adamas' statements of defense, below.
3. Who is Adamas? Are they a public company? Where do they trade?
Adamas is a privately held company in Mongolia known to own a number of mineral exploration licenses in the country.
4. What are the next steps in the legal process?
After receiving the unfavorable decision on January 31, 2008, WPM filed an appeal on February 28, 2008. That appeal is pending review.
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