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Undisclosed Mining Claims, Ontario,(2) & Vault Minerals Inc	Update Date: 10/10/08
Date Announced: 10/09/08
Value (million $USD): 0.1 million U.S. Dollar 0.1 million Canadian Dollar

Status: Pending

TRANSACTION DETAILS
Date Announced	10/09/08
Date Originally Announced	10/09/08
Format	Acq. of Assets	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	Unspecified Regulatory Auth.
Value	0.1 million U.S. Dollar 0.1 million Canadian Dollar	Advisor Fees	n/a

SYNOPSIS

CANADA - Vault Minerals Inc (VM) was granted an option to acquire to acquire two undisclosed mining claims, located Ontario, a gold mining property, for 0.109 mil Canadian dollars ($0.095 mil US). The consideration was to consist of C$0.085 mil ($0.074 mil) and the issuance of 0.12 mil commons shares valued at C$0.024 mil ($0.021 mil). The shares were valued based on VM's closing stock price of C$0.2 ($0.174) on October 8, the last full trading prior to the announcement. The transaction was subject to regulatory approval.

TARGET
Name	Undisclosed Mining Claims, Ontario,(2)
Industries	n/a
City	n/a
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Private
Business Description	Two undisclosed mining claims, located in Ontario, a gold mining property.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Vault Minerals Inc (TSXVenture : VMI)
Industries	Miscellaneous metal ores, nec; Miscellaneous nonmetallic minerals, except fuels
City	Kirkland Lake
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Public
Business Description	Vault Minerals Inc is a mineral mining company headquartered in Kirkland Lake, Ontario. The company is focused on the acquisition of and exploration for gold, base metal and diamonds in Northern Ontario, Canada. It principally holds interests in Lebel gold property and Kirkland gold property both located in the Kirkland Lake Gold Camp in northeastern Ontario. The company was founded in 1980.
Advisors	NULL
Acquiror Sales	n/a

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