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News

KLM: TSX-V
$0.01

News

Jun 16, 2003

Amended and Restated replacement financials and reports

The Company announces it has today retracted the following previously filed documents:

a. Quarterly financial statements dated January 31, 2003;
b. Schedule B Reports to the Company's annual financial statements dated October 31, 2002, and quarterly financial statements dated January 31, 2003; and
c. Schedule C Reports to the Company's annual financial statements dated October 31, 2002, and quarterly financial statements dated January 31, 2003,

and has filed Amended and Restated replacement financials and reports, via SEDAR.

These actions resulted from a review of the Company's filings by the British Columbia Securities Commission under its Continuous Disclosure Review program. Clarifying changes were made to the quarterly financial statements to more accurately and completely describe expenses incurred, and to reconcile with the Schedule B disclosure. The Amended and Restated Schedules B and C offer a more detailed analysis of the Company's operations and financial statements, including clarification as to:

1. funds and shares issued with respect to each of its mineral property interests;
2. the Company's decisions to be involved in the exploration for tantalum, diamonds and gold;
3. the Company's quarterly administration costs; operations and financial conditions;
4. reconciliation of outstanding shares, options and warrants; and
5. 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 refile its annual information form.



ON BEHALF OF THE BOARD OF DIRECTORS

"D. Neil Briggs"

DIRECTOR