The Company announces that it has issued a total of 4,300,002 warrants to Peter Kingston, Peter Blakey, Peter Taylor, Mark Savage, Jeremy Asher and Marilyn Hill, General Manager of the Ugandan operations, as detailed below:-

Name Warrants Exercise Price Date from which the warrants are exercisable Expiry of warrants
Peter Kingston 1,500,000 3p 20 April 2010 20 April 2012
Peter Blakey 833,334 3p 20 April 2010 20 April 2012
Peter Taylor 833,334 3p 20 April 2010 20 April 2012
Mark Savage 400,000 3p 20 April 2010 20 April 2012
Jeremy Asher 400,000 3p 20 April 2010 20 April 2012
Marilyn Hill 333,334 3p 20 April 2010 20 April 2012

The warrant exercise price was determined by the Board of the Company in reference to the placing price of the placing of 42,883,334 shares announced on 21 April 2009. These warrants were issued in lieu of fees waived by directors, to reduce overhead cost to working capital, since November 2008 and to be foregone until end October 2009. The fees foregone are summarised below (£):-

Name Nov 08 – Apr 09 May – Oct 09 Total
Peter Kingston 15,000 30,000 45,000
Peter Blakey 12,500 12,500 25,000
Peter Taylor 12,500 12,500 25,000
Mark Savage 6,000 6,000 12,000
Jeremy Asher 6,000 6,000 12,000
Marilyn Hill 10,000 10,000