November28,2011 Issue# 54

AboutTheUbikaGold50 Index

Forinvestorslookingtofindthenextinvestmenthomerun,webelievethatjuniorgold explorationcompaniespresentthemostcompellingcase.Thisisespeciallytruenowwhenthe priceofgoldseemstobeinasecularuptrend.Thepriceofgoldrecentlyreachedanalltime highofover$1921.15perounce(innominaltermsforDecemberfutures)andwebelievethis upwardtrendwillcontinuefortheforeseeablefuture,althoughtherecouldbesomecorrections alongtheway. Formostsmallcapinvestorsthereisalackofgoodquality,widelyavailableresearchand informationonpromisingjuniorgoldexplorationcompanies.UbikaResearch,throughour portal,isfillingthisgapbyofferingqualityinformationandresearchonsmallcapcompanies. ThereleaseoftheUbikaGold50Indexisacontinuationofourcommitmenttoprovidehigh qualityresearchandinformationtosmallcapinvestors. Afterextraordinaryinvestorinterest,UbikaResearch,thepremiersmallcapresearchandcapital marketsfirm,haslaunchedthetheUbikaGold50Index.Theindexcomprisesof50promising juniorgoldexplorationcompanies.Weusevariousproprietarycriteriainselectingthese companiesincludingmarketcapitalization,tradingvolume,explorationlocation,typeandsizeof depositsandtheexplorationstage.Mostofthecompaniesintheindexareeitherunderour comprehensiveresearchcoverageorarecompaniesthatwehaveprofiledunderourweekly seriesJuniorResourceStockWatchlist. ToviewallthecompaniesintheUbikaGold50Index,readtheirreportsandviewCEOvideo interviewspleasevisithere. ThestartingpointfortheIndexisFebruary1,2010.ThevalueoftheIndexisbasedonthe marketcapitalizationofthe50companiesintheIndex.Wearetrackingtheperformanceofthe indexbasedonthechangeinthecumulativemarketvalueofall50companies.

AboutTheUbikaGold50Report
Thisreportprovidesasummaryofthekeyperformancedatafortheindexanditsconstituents andalsocomparestheperformanceoftheindexversusthebenchmarkTSXVentureIndexand SpotGoldprice. Apartfromtheperformanceoftheindexandchangeinthemarketvalueofeachcompanyin theGold50list,wealsoprovideasummaryofmajornewsrelatedtothesecompaniesand highlightoneormorecompaniesintheweeklyUbikaGold50Report. UbikaResearchwillcontinuouslyevaluatethislistandmakechangesbyeitherincludingnew promisingcompaniesand/orexcludingthosethatfailtomeetourproprietarycriteria.

Overall Performance
The Ubika Gold 50 Index (UG 50) has been tracked since February 1, 2010. The cumulative market capitalization or value of the 50 companies in the Index on Feb 1, 2010 was C$9,921,832,745 and the market cap based on the closing prices on November 25, 2011 was C$15,713,081,493 for an increase of 58.37%. In comparison, the benchmark TSX Venture Index decreased from 1509.94 to 1505.14, for a decrease of 0.32% during the same time period. The Gold Futures in the New York Mercantile Exchange moved from $1103.10 to $1688.50 per one ounce, an increase of 53.07% from February 1, 2010 to November 25, 2011. Graph 1 shows the relative performance of the Ubika Gold 50 Index (UG 50) against the TSXV index and Gold spot prices since the start of the index in terms of percentage return. Graph 1: The Ubika Gold 50 (UG 50) Relative Performance
70% 60% 50% 40% 30% 20% 10% 0% 0.32% SinceInception 10%
INDEXUbikaGold50 TSXVINDEX GoldSpot (NewYork)

58.37% 53.07%

Source: Ubika Research

Gold Canyon Resources Inc. is still the overall top 5 gainer and there is no change in the constituents compared to last week. The table and graph below show the overall top gainers to date. Table 1: Top Five Market Cap Gainers (Feb 1, 2010 Nov 25, 2011)
Company Gold Canyon Resources Inc PMI Gold Corp Silverquest Resources Kaminak Gold Corp Belo Sun Mining Ticker GCU PMV SQI KAM BSX % Change

1,449.68% 756.60% 507.92% 477.38% 404.71%

Note: PMI Gold Corp. (TSXV: PMI), Kaminak Gold Corp (TSXV: KAM) and Belo Sun Mining Corp. (TSXV: BSX) were former Ubika Research Junior Resource Stock Watchlist picks. To access the profile report of these companies, please visit: PMI Gold Corp. (TSXV: PMI): http://www.smallcappower.com/PMI_Gold_Corp.aspx Kaminak Gold Corp (TSXV: KAM) http://www.smallcappower.com/Kaminak_Gold_Corp.aspx Belo Sun Mining Corp. (TSXV: BSX): http://www.smallcappower.com/Belo_Sun_Mining_Corp.aspx

Top5MarketCapGainers(ToDate)
1,600.00% 1,400.00% 1,200.00% 1,000.00% 800.00% 600.00% 400.00% 200.00% 0.00% GCU PMV SQI KAM BSX 756.60% 507.92% 477.38% 404.71% 1,449.68%

The Ubika Gold 50 Index Weekly Performance (Week of Nov 21 Nov 25, 2011) Key Findings for the week of Nov 21 Nov 25 are summarized below: The UG 50 and both the benchmarks were down again this week on mounting European concerns. The UG 50 underperformed the Gold Futures, but outperformed the TSXV over this week. The cumulative market cap of the UG50 companies decreased from C$16,727,351,984 to C$15,713,081,493, a decrease of 6.06%. The TSXV also dropped heavily this week. It finished at 1505.14, a decrease of 6.38%. Gold lost again this week. It closed below $1700 after four weeks. It closed the week at $1688.50 an ounce, a decrease of 2.12%. The performance of the UG 50 constituent companies were mostly negative with just 7 companies finishing the week in black. Rainy River Resources Ltd. (TSXV: RR) was the top market cap gainer for the week as it gained over 5% as its stock price increased from $7.00 to $7.40 on positive developments.

Table 2 and Graph 2 below show the top gainers for this week.

Table 2: Top Market Cap Gainers for the Week of Nov 21 Nov 25, 2011
Company Rainy River Resources Ltd St Andrew Gold Fields Kiska Metals Corp Meadow Bay Gold Corp. Almaden Minerals Ltd
Source: Ubika Research

Ticker

% Change

RR SAS KSK MAY AMM

5.71% 2.04% 1.37% 0.65% 0.38%

Graph 2: Top 5 Ubika Gold 50 Market Cap Gainers for the Week Nov 21 Nov 25

Top5MarketCapGainers fortheWeek
7.00% 6.00% 5.00% 4.00% 3.00% 2.04% 2.00% 1.00% 0.00% RR SAS KSK MAY AMM 1.37% 0.65% 0.38% 5.71%

Note: Meadow Bay Capital Corp. (TSXV: MAY) is under Ubika Research coverage. Please visit the following company information hub below to view research reports, analyst commentary and CEO video interviews: http://www.smallcappower.com/companies/meadow-bay-gold-corp/home.html

Rainy River Resources Ltd. (TSXV: RR) and Kiska Metals Corp. (TSXV: KSK) were former Ubika Research junior Resource Stock Watchlist picks. To access the profile report of these companies, please visit: Rainy River Resources Ltd. (TSXV: RR): http://www.smallcappower.com/rainy_river_resources.aspx Kiska Metals Corp. (TSXV: KSK): http://www.smallcappower.com/Kiska_Metals_Corp.aspx

Musings from Ubika

The worsening debt crisis in Europe that sent the European bond yields higher coupled with the stalemate in US debt talks made the markets worldwide finish the week deep in the red as investors saw no light in the end of the tunnel. The holiday-shortened week in the US and a much lower volume of trading didnt stop the major US indices to finish the week lower. The Dow lost 4.8% for the week, its second continuous weekly loss, S&P 500 fell 4.7% for the week and the Nasdaq lost 5.1%, its fourth week of losses.

Canadian markets continued the trend with the TSX falling 3.6% for the week, its fourth week of losses and worst drop in two months. The junior Venture index also fell this week, it dropped by 6.4% as investors sought safety and dumped small caps. European and Asian markets were down as the signs of the debt crisis spreading are becoming evident. This week Belgiums and Hungarys debt were downgraded and France escaped with a warning, moreover the European leaders are unable to agree on a clear path to solve the debt crisis and The International Monetary Fund warned Japan that the crisis is spreading to Japan and it faces a huge risk of increasing government bond yields, given the countrys huge debt levels. The only thing that finished the week not in red was the VIX, the fear index that shows the investors anxiety. Most commodities also finished the week lower on the raising US Dollar and the fear that demand for commodities might seriously reduce in case of a prolonged recovery. Crude finished the week 0.7% lower on worsening macroeconomic outlook, still WTI Crude settled at $96.77 a barrel on strong oil fundamentals. Natural gas on the other hand gained 6.7% this week as winter is approaching and as it is gaining back some of the lost position. Precious metals and Copper finished the week much lower. Gold finished below the $1700 mark closing at $1688.50 an ounce. We are bullish on Gold and do not see a huge decline in Gold prices given the current Economic environment of the world. The UG 50 lost heavily this week as investors shed small caps to seek safety in treasuries. The index fell 6.1% this week, its third week of losses, but losing UG50 companies offer new opportunities for investors to enter some of the constituent companies at much lower levels. Given the valuation discrepancies between Gold bullion and the UG 50 companies, we are confident that the companies with solid management, good assets, NI43-101 resources and strong exploration program will out-perform the Gold in the long run.

Company Spotlight: Kiska Metals Corp. (TSXV: KSK)

The company in focus this week is Kiska Metals Corp. (TSXV: KSK). Kiska Metals Corp. formerly Geoinformatics Exploration Inc., is a mineral exploration company. Kiska Metals was formed in August 2009, created through the business combination of Rimfire Minerals and Geoinformatics Exploration. Kiskas portfolio of assets includes its flagship Whistler Project, which is a gold exploration project in Alaska. In addition to Alaska, the Company has properties in British Columbia, Mexico and Australia.

Whats interesting about KSK? Kiskas key project of interest is the Whistler property in Alaska, which covers 527 square kilometres in an area about 150 kilometres northwest of Anchorage, Alaska. The Whistler project covers an east-west trending copper-gold porphyry belt and is located in an emerging gold-copper porphyry district with high value of gold. The Whistler Property is an advanced exploration project with NI 43-101 compliant resource estimate of 5.60 million oz equivalent of gold. The project has strong exploration potential with many untested targets and has expansion potential. The company just completed intensive 2011 drill program that resulted in intersection of 1.37 g/t gold and 54.2 g/t silver at Island Mountain prospect and expects more news flow. A strong management team with experienced professionals managing the exploration and operational activities.

Kiska Metals Corp. (TSXV: KSK) were former Ubika Research junior Resource Stock Watchlist picks. To access the profile report of these companies, please visit: http://www.smallcappower.com/Kiska_Metals_Corp.aspx

Ubika Gold 50 weekly performance (week ending Nov 25, 2011)

Company

Symbol

52 Wk 52 Wk Last M.Cap High Low Price 18 Nov, 2011

M.Cap 25 Nov, 2011

% Change Week

AlamosGoldInc AGI AlmadenMineralsLtd AMM AtlantaGoldInc ATG AvionGoldCorp AVR B2goldCorp BTO BayfieldVenturesCorp BYV BeloSunMiningCorp BSX CarpathianGoldInc CPN CliftonStarResourcesInc CFO ColossusMineralsInc CSI EagleHillExplorationCorp EAG GoldCanyonResourcesInc GCU GoldOreResourcesLtd GOZ GowestGoldLtd GWA GuyanaGoldfieldsInc GUY HYLakeGoldInc HYL KaminakGoldCorp KAM KeeganResourcesInc KGN KiskaMetalsCorp KSK LaQuintaResourcesCorp LAQ LexamVGGoldInc LEX MagellanMineralsLtd MNM MeadowBayGoldCorp. MAY MetanorResourcesInc MTO NorthernGoldMiningInc NGM NovaGoldResourcesInc NG NWMMiningCorp NWM OrvanaMineralsCorp ORV ParamountGoldandSilverCPZG PcGoldIncorporated PKL PelangioExplorationInc PX PetaquillaMineralsLtd PTQ PMIGoldCorp PMV PremierGoldMinesLtd PG QueenstonMiningInc QMI RainyRiverResourcesLtd RR RomarcoMineralsInc R RubiconMineralsCorp RMX RXExplorationInc RXE RyePatchGoldCorp RPM SanGoldCorp SGR SandspringResourcesLtd SSP SeafieldResourcesLtd SFF SilverQuestResourcesLtd SQI StAndrewGoldfieldsLtd SAS StEliasMinesLtd SLI TemexResourcesCorp TME USGoldCorp UXG VictoriaGoldCorp VIT VistaGoldCorp VGZ
INDEX Ubika Gold 50 TSXV INDEX Gold Spot (New York)

21.65 13.26 15.47 1,857,010,107 1,829,814,837 5.25 2.23 2.64 152,386,993 152,966,411 0.19 0.06 0.06 12,784,800 11,871,600 2.57 1.26 1.55 739,549,753 682,322,689 4.45 2.21 3.24 1,189,057,006 1,116,679,611 1.02 0.41 0.47 31,383,845 29,186,976 1.54 0.73 1.15 244,477,463 238,261,940 0.77 0.38 0.43 197,526,488 184,644,325 5.39 1.86 2.90 85,761,384 85,761,384 9.87 5.14 6.49 732,406,516 680,991,133 0.35 0.13 0.13 16,757,446 14,523,118 4.22 1.57 2.35 278,041,241 235,883,355 1.14 0.66 0.85 77,489,742 72,380,528 0.43 0.17 0.19 24,110,988 20,275,149 10.95 6.82 8.44 706,505,528 706,505,528 0.15 0.60 0.27 12,078,253 11,245,270 4.71 2.30 2.37 200,571,333 174,762,512 9.59 3.91 3.91 350,241,913 294,504,491 1.56 0.36 0.37 36,227,550 36,723,818 0.13 0.05 0.06 5,589,893 5,159,901 1.52 0.30 0.38 90,218,107 85,707,200 1.94 0.50 0.63 82,108,650 68,971,265 2.01 0.13 1.20 52,451,267 52,792,790 0.48 0.21 0.34 76,641,021 68,573,547 0.64 0.23 0.24 39,176,678 34,823,711 16.92 6.26 10.27 2,692,445,171 2,462,280,879 0.20 0.08 0.08 43,409,611 34,718,727 3.97 1.05 1.16 179,946,631 158,134,907 4.40 1.65 2.35 340,599,631 321,449,437 1.16 0.30 0.30 22,038,675 20,035,159 1.23 0.41 0.49 73,209,320 67,684,093 1.36 0.59 0.67 154,815,287 148,418,136 1.42 0.36 1.02 252,070,758 219,753,998 8.00 4.56 4.84 649,567,608 616,573,427 8.07 4.12 5.83 487,904,166 482,115,458 13.50 5.66 7.40 586,511,940 620,026,916 2.73 0.88 0.90 537,076,966 525,401,356 6.50 3.05 3.45 869,102,522 819,235,976 0.64 0.31 0.47 87,000,051 78,634,664 0.48 0.23 0.38 55,877,270 47,715,421 4.09 1.68 1.69 593,895,913 528,254,810 3.75 1.33 1.64 191,371,487 178,323,430 0.77 0.17 0.18 32,033,297 30,347,335 1.28 0.44 1.03 120,244,829 114,677,931 1.55 0.45 0.50 180,321,866 184,001,900 2.80 1.46 2.03 257,199,951 234,569,339 0.44 0.17 0.20 28,091,925 24,427,760 9.44 3.45 3.85 597,754,384 525,423,347 1.14 0.32 0.42 152,696,066 142,516,328 4.55 2.30 3.26 251,612,696 233,027,668 16,727,351,984 15,713,081,493 1,607.67 1,505.14 1,725.10 1,688.50

1.46% 0.38% 7.14% 7.74% 6.09% 7.00% 2.54% 6.52% 0.00% 7.02% 13.33% 15.16% 6.59% 15.91% 0.00% 6.90% 12.87% 15.91% 1.37% 7.69% 5.00% 16.00% 0.65% 10.53% 11.11% 8.55% 20.02% 12.12% 5.62% 9.09% 7.55% 4.13% 12.82% 5.08% 1.19% 5.71% 2.17% 5.74% 9.62% 14.61% 11.05% 6.82% 5.26% 4.63% 2.04% 8.80% 13.04% 12.10% 6.67% 7.39% 6.06% 6.38% 2.12%

Key Ubika Gold 50 Company News during the week of Nov 21 Nov 25, 2011:
Pelangio Exploration Intersects 1.12 g/t Gold Over 82 Metres at Pokukrom East Zone on the Manfo Property CMTX - Mon Nov 21, 07:00AM Pelangio Exploration Inc. is pleased to announce results from nine additional diamond drill holes totaling 2,058 metres on the Manfo Property in Ghana. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=50&storyID=2 167782&selected=news PMI announces key appointments to strengthen Ghanaian management team CMTX - Mon Nov 21, 02:46PM PMI Gold Corporation is pleased to announce a number of key appointments to strengthen its in-country management team in Ghana as it completes the Pre-Feasibility Study on its flagship Obotan Gold Project and ramps up regional exploration activities. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=50&storyID=2 176939&selected=news Kaminak Intersects Multiple High-Grade Gold Zones in Deep Drilling at Latte and New Gold Zone Discovered at Connector CMTX - Mon Nov 21, 03:01PM Kaminak Gold Corp. announced diamond drill results from the Latte and Connector zones, located on the Company's 150,000 acre Coffee Gold property, Yukon Territory. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=23&storyID=2 177135&selected=news New Base Metal Discovery: Metanor Intersects a Zone With Significant Zinc and Silver While Drilling the Hewfran Gold Zone CMTX - Tue Nov 22, 08:04AM Metanor Resources Inc. is pleased to provide a special update of its activities at the Bachelor Lake Project. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=23&storyID=2 187668&selected=news Almaden Hits 21.95 m of 2.75 g/t Au and 210.1 g/t Ag (7.0 g/t AuEq) on Main Ixtaca Zone CMTX - Tue Nov 22, 03:31PM Almaden Minerals Ltd. is pleased to announce results from the on-going drilling program on the Company's 100% owned Tuligtic project, Mexico. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=23&storyID=2

195330&selected=news Sandspring Reports Additional Higher Grade Drilling Results From Toroparu; Expects Announcement of Updated Resource Estimate and Updated Preliminary Assessment Results in December 2011 CMTX - Wed Nov 23, 08:31AM Sanspring Resources Ltd. is pleased to announce further results from its 2011 expansion and infill-drilling program at the Toroparu Gold Deposit in the Republic of Guyana. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=23&storyID=2 206800&selected=news Drilling at Serra Intersects 7m @ 6.10g/t Gold at Coringa Project, Brazil CMTX - Thu Nov 24, 08:52AM Magellan Minerals Ltd. is pleased to report results from thirteen additional drill holes from the Serra, Meio and Domingo zones at the Coringa project, Brazil. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=23&storyID=2 221322&selected=news Keegan Settles Majority Interest of Ghanaian Lawsuit CMTX - Fri Nov 25, 02:23PM Keegan Resources Inc. announced that it has entered into a written settlement agreement with two parties who together hold a 60% interest in the outcome of the litigation commenced in 2009 in Accra, Ghana involving the Company's Esaase Project. http://smallcappower.websol.barchart.com/?module=stockDetail&topnum=23&storyID=2 233489&selected=news

UBIKA RESEARCH
RESEARCHING THE UNDER-RESEARCHED

Vikas Ranjan, Managing Director Phone: (647) 352-2666 Email: vikas@ubikacorp.com Vishy Karamadam, Managing Director Phone: (647) 352-0666 Email: vishy@ubikacorp.com Raj Ravindran, Research Associate Phone: (647) 344-4222 rajkumar.ravindran@gmail.com Doug Morrison, Director Phone: (647) 352-0687 Email: doug@ubikacorp.com
Contact Us:
700 - 36 Lombard Street Toronto, Ontario Canada M5C 2X3 T: 416-646-1941 F: 416-646-1942 Email: info@ubikacorp.com 925 West Georgia Street, Suite 900 Vancouver, British Columbia Canada V6C 3L2 T: (604) 484-5761 F: (604) 484-5761 Web: www.ubikaresearch.com

See following pages for important disclosure:

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Disclosure
Ubika Research Disclaimer This report has been prepared by Ubika Research, a division of Ubika Corporation. Copyright This report may not be reproduced in whole or in part, or further distributed or published or referred to in any manner whatsoever, nor may the information, opinions or conclusions contained in it be referred to without in each case the prior express written consent of Ubika Corporation. Disclaimer Certain companys profiled in this report have entered into a commercial relationship with Ubika Corporation, our partners or our affiliates for research coverage and capital market services and paid fees and or shares or stock options or warrants for being mentioned at smallcappower.com and in this report. Hence the highlighted company information in this report is an advertisement only and does not and will not constitute an offer to buy or sell securities in the highlighted company. Ubika Corporation is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this report. The information in this report is designed to present the opinion of Ubikas analysts and what they believe to be the objective prospects or information on the companies mentioned in this report. Where reference is made to estimates of value or relative value of a specific company, those are purely opinions of Ubika Research. There is no guarantee that these estimates are reliable or will materialize. They should not be relied upon in making specific investment decisions and readers should seek advice based on their risk profile and investment requirements from a person qualified and authorized to provide advice. This report does not constitute an offer or invitation to purchase or acquire any shares or securities in any company or any interest therein, nor shall it form the basis of any contract entered into for the sale of shares or securities in any company. The information in this report is believed to be correct, but its accuracy, timelines or completeness cannot be guaranteed. No representation or warranty, express or implied, is given by any person as to the accuracy or completeness of the information and no responsibility or liability is accepted for the accuracy or sufficiency of any of the information, for any errors, omissions or misstatements, negligent or otherwise. Ubika Research did not make an independent investigation or inquiry as to the accuracy of any information provided on any of the companies mentioned in this report. Readers of this report are advised to conduct their own due diligence before investing in any of the companies mentioned in this report. Readers of this report are informed that the value of shares in the highlighted company or companies mentioned in this report may go up or down. Past performance is not necessarily a guide to future performance. Readers of this report are advised that Ubika Corporation (including its directors, employees and representatives) or a connected person will have positions in or options on the securities detailed in this report, and may buy, sell or offer to purchase or sell such securities from time to time. Hence any mention of companies in this report should be treated merely as a commercial advertisement and does not constitute a recommendation or an offer to buy or securities.

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Independence, Objectivity & Best Practices Unless otherwise noted, research reports by Ubika Research, a division of Ubika Corporation, are often paid for on a fixed fee basis by the company under coverage directly or by financial intermediaries and investment relation firms working on the behalf of those companies. Ubika Corporation can also at times receive options to purchase shares from the companies under its research and capital market exposure services program. Since Ubika Corporation and its divisions including Ubika Research and SmallCapPower.com receive such compensation, there is an inherent conflict of interest in Ubika Researchs research statements and opinions and we do not make any claim of such statements and opinions being independent. Readers of this report should not rely on this report for making any investment decision and are advised to conduct their own due diligence before investing in any companies mentioned in this report. Note: Ubika Research has NOT visited various mining sites to do any independent physical assessment of any company mentioned in this report. Safe Harbour Statement for US Residents/ Investors The information set forth in this report may contain forward-looking statements. Statements in the report, which are not purely historical, are forward-looking and include statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this document contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as estimate, anticipate, believe, plan, intend, expect, may or should or similar statements are forward-looking statements. Risks and uncertainties for the company include, but are not limited to, the risks associated with the impact of general economic conditions in countries in which the company conducts business, the impact of competitive products and pricing, product demand and market acceptance, new product development, the continuation and development of key customer and supplier relationships, and the availability of high quality, qualified personnel and management. Other risks include but are not limited to factors affecting development and expansion activities generally including access to capital to meet all of the highlighted companys financial requirements, and the companys ability to control costs. There can be no assurance that the highlighted companys efforts will succeed and the company will ultimately achieve sustained commercial success. These forward-looking statements are made as of the date of this document, and neither Ubika Corporation nor the highlighted company assumes any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although management of the highlighted company have advised Ubika Corporation that they believe that the plans, expectations, beliefs and intentions contained in the information provided to Ubika Corporation and reproduced in the report are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. The forward looking statements contained in the document have been prepared by management of the highlighted company who believe and have so advised Ubika Corporation, without independent verification by Ubika Corporation that a reasonable basis exists for making such statements.

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