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Abstract
Vatukoula Gold Mines plc ("VGM") is a UK company, listed on the AIM Market of the London Stock Exchange, which owns and operates the Vatukoula Gold Mine located in Fiji. Canadian Zinc holds 628 million shares of VGM representing approximately 17.2% of VGM's shares.
On December 7th, 2009 Vatukoula Gold Mines Ltd. (Fiji) signed a Social Assistance Deed and Fiscal Agreement with the Minister for Lands and Mineral Resources of the Republic of Fiji. This Deed provides the VGM with a number of fiscal concessions in return for VGM supporting the Social Assistance Trust for the Vatukoula community. The Trust Deed formalizes a number of key concessions and exemptions to VGM's 100% owned subsidiary Vatukoula Gold Mines Ltd. in Fiji, as well as establishing the Social Assistance Trust.
VGM acquired the Vatukoula Gold Mine in April 2008 and has since then re-established gold mining operations. Current planning is to restore mine operations to a rate of 110,000 ounces per year. VGM has reported that the Mine has a Proven and Probable Reserve of 858,000 ounces of gold and a Measured, Indicated and Inferred resource of 5.15 million ounces of gold. (These reserve and resource figures have been prepared in accordance with the JORC reporting standards and are not in compliance with National Instrument 43-101). VGM has no forward gold sales and no bank debt. For further information: www.vatukoulagoldmines.com