CONCLUSION With a long history of mining success

CONCLUSION

With a long history of mining success in the region, a unique extraction strategy and partnership, and a need
for only limited infrastructure capital to mine the unusually shallow depth of the resources on the site we
believe that DUCP offers great potential and a quick road to profitability. Moreover, the size of the ARX
opportunity is simply huge. There is nearly 350,000,000 tons of material available for mining for an estimated
20 year production life of the site, with estimates of 16-18 million ounces of recoverable gold. This translates
to a potential value of $15 billion at current gold prices and could generate over $20 billion dollar in cash flow
over the life of the mine.

The start of meaningful material stockpiling and surface resource extraction should occur within 90 days
following a modest infrastructure capital funding and we believe that production should commence within 12
months thereafter. As these and other milestones occur, DUCP should trade substantially higher. We rate
DUCP Speculative Buy with a $0.30 price target.