Newcastle Gold Ltd.

Like most others, I am in a position of having to sit back and watch what is going to transpire. We certainly put up the good fight but the reality is that we were overpowered. For those of us who have decided to stay "long", it appears to now be a matter of being spectators ………. OR IS IT ?

After having gone through the hoops of the TSX, TSX-V, BCSC, OSC, Courts it all boils down to a decision from INVESTMENT CANADA a Federal Government Agency of Industry Canada whose mandate is to (as taken from their opening website comment)

Non-Canadians who acquire control of an existing Canadian business ………… are subject to this Act, …………

http://www.ic.gc.ca/eic/site/i…..f/eng/home

As I looked through the theme and flavor of the act, it became evident that we are not dealing with the likes of the TSX, TSX-V, BCSC, OSC, or Courts who Finskiy & Assoc. made sure that they complied with regulations.

I remind readers that it was INVESTMENT CANADA (IC) who strapped on their "gonad" and stepped in to stop the multi-billion dollar take over of Saskatchewan Potash. They did this on the grounds that it was not in Canada's best interests to let the control of a major Canadian resource go to a foreign (Australia) company headquartered in another country even though Sask Potash was itself, headquartered in the USA.

Sound familiar ? $15,000,000,000 of Gold in Lamaque ???????

I think that our earlier attempts to contact Regulators and INVESTMENT CANADA was, in the case of INVESTMENT CANADA, premature. In one of my replies from INVESTMENT CANADA they pointed out this very fact. If you'll recall, they stated to some of us that they did not have an application from CMM and WTG but would review the application in compliance with the INVESTMENT CANADA ACT.

Gold is a major Canadian Resource, without question. As Europe, the USA, Greece, Spain, California and on and on struggle with sovereign debt the one "FIAT" (recognized trade-able currency) that stabilizes a countries trading and economic strength is gold. To tie the assets of Century Mining to Russian control headquartered in a third party foreign land IS NOT in Canada's best interests.

To even set this precedent for others to attempt to follow, is unthinkable. We have to admit that Stephen Harper based just on our past observations has his "gonads" strapped on when it comes to acting in Canada's best interests.

I am recommending that we write to INVESTMENT CANADA and without bringing up the shenanigans of Finskiy & Assoc. which were poo poo'd by the Regulators and the Court, simply point out that for INVESTMENT CANADA to allow this Merger in it present format to proceed will not be in Canada' best interests.

I suggest that ….

• the company must be headquartered in Canada.
• majority control by any one syndicate of investors (such as Finskiy & Assoc.) cannot exceed 40 %
• 7 Board of Director members with a majority being resident Canadian citizens.
• of that majority, one member must represent minority retail investors
• ….. and other items, writers would like to see advanced

As I gave this thought, it became readily apparent that all Finskiy & Assoc. had to do was double dot their i's and double cross their "t's" to get past the Regulators and Court. INVESTMENT CANADA is a totally different scenario and I indicate that …

WE ARE MISSING AN OPPORTUNITY

INVESTMENT CANADA may allow the Merger to proceed but they will make sure that Russian interests and actions from the BVI do not control a Canadian Resource asset especially at this time in the world's economy.

I will also suggest that INVESTMENT CANADA would see the advantages of Canada controlling Russian gold assets (Nasedkino, Uryum, Sevikino and other Russian licenses) from a Canadian investor controlled company headquartered in Canada with a majority of Canadian resident Directors. Even Bay Street will buy into this.

Write to and address your positions to

Minister of Industry

The Honourable Christian Paradis

ARE WE MISSING OUR LAST CHANCE ? Yes we are ! Back to work folks. We are not finished yet.

The Merger of CMM to WTG has now become Political. It is a new ball game.