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Kuriskova Uranium project

The Kuriskova uranium project is located in Slovakia and is owned by Ludovika Energy s.r.o. (“LE”). On October 19, 2015, the Company transferred its 100% interest in LE to an unrelated third party in exchange for the Company retaining a 25% share of any future compensation paid to LE by the Slovak Government pursuant to the Court proceedings in respect of the non-renewal of the Kuriskova license by the Slovak Government.

The Company is informed that the Court proceedings upheld the non-renewal of the Kuriskova licenses by the Slovak Government and this case is closed.