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News

KLM: TSX-V
$0.01

News

Aug 27, 2001

Announcement

No Stock Exchange Has Approved or Disapproved The Information Contained Herein The Company announces it has today retracted the following previously filed reports: 1. Schedule B Reports to the Company's quarterly financial statements dated January 31, 2000, April 30, 2000, July 31, 2000 and October 31, 2000; and 2. Schedule C Reports to the Company's quarterly financial statements dated January 31, 2000, April 30, 2000, July 31, 2000, October 31, 2000, January 31, 2001 and April 30, 2001, and has filed Amended and Restated replacement reports, via SEDAR.

These actions resulted from a review of the Company's quarterly filings by the Continuous Disclosure Review Department of the British Columbia Securities Commission. No changes were made to any of these quarterly financial statements themselves. The Amended and Restated reports offer a more detailed analysis of the Company's operations and financial statements. In particular, the Amended and Restated reports offer more detail or clarification as to: 1. the actual use of the Company's flow-through funds raised under its prospectus, compared to the expected work program and budget outlined in the prospectus; 2. the Company's quarterly administration costs; 3. Subsequent Event Notes; and 4. a number of other miscellaneous matters.

The filing of the Amended and Restated reports removes the Company from the "Issuers in Default" list; and clears the way for the Company to proceed with its financing plans.

ON BEHALF OF THE BOARD OF DIRECTORS

"Donald G. Moore" Donald G. Moore President & Director