Crew’s Highlights

• Acquisition of Guinor Gold Corporation (December 2005)
  - operator of the Lefa Corridor Gold Project in Guinea
  - ongoing development of Lefa Expansion project (commissioning scheduled for December 2006)
  - ongoing increase in Lefa resource base
  - targeted annual production rate of 320,000 oz in 2007; increasing to 350,000+oz in 2008
  
  
• Acquisition of 72.87% of Apex Gold Mining Company, together with its associated Philippine partner (December 2005)
  - operator of Masara Gold Mine in the Philippines
  - ongoing development of Masara Gold Mine and construction of 2,900 tpd processing facilities
  - definition of Masara resource base
  - targeted annual production rate of 120,000 to 140,000 oz in 2007; increasing to 180,000 to 200,000 oz in 2008
  
  
• Improved Operations at Nalunaq Gold Mine in Greenland
  - ongoing increase in Nalunaq resource base
  - improved grades at Nalunaq
  - targeted annual production rate of 80,000 to 100,000 oz in 2007
  
  
• Acquisition of New Opportunities
  - Option to acquire Daguma Coal Project in the Philippines
  - Exploration and earn in rights for Tandic gold concession in the Philippines
  - Exploration rights for diamonds in West Greenland
  
  
• Building of World Class Management Team for a mid-tier producer
  - New Chief Operating Officer and Chief Financial Officer
  - Experienced President, African Operations appointed
  - New senior technical and administrative personnel in head office and at all operations
  - Major investment in Information Technology systems and software
  
  
• Continued Support during fiscal 2006 from our Shareholders and the Capital Markets
  - $340 million ($194 million convertible bonds and $146 million equity) raised from existing shareholders to complete
  Guinor acquisition
  - $99 million raised from bond issue to replace project facility at Lefa
  - $65 million raised from equity issue to further the Masara project, purchase the minority interest in Lefa, and other
  strategic initiatives