MagIndustires

Upon completion of this

debt, and the strategic equity investment, MagIndustries would be fully funded for the completion of Phase

1 of the MagMinerals Potash project, with the strategic partner owning 52.7% of MagIndustries Corp.

Ceding control to the partner, MAA has granted the strategic investor exclusivity through to July 31, 2009

or until a definitive agreement has been reached, whichever is first.