Located in the northern region, ghana birim goldfields ghana limited

3.4FINANCIAL REPORTING

3.4.1Exploration Expenditure Incurred To Date

Birim Goldfields Ghana Limited has expended in excess of US$ 1,485,678.66 on the Tinga Prospecting License since acquiring the property to date. The figures are not fully audited.

DESCRIPTION	AMOUNT USD
Airborne Geophysics
Interpretation	-
Data Acquisition	-
Ground Geophysics	19,182.48
Soil Geochemistry
Analysis	15,245.69
Labour	5,116.68
Stream Geochemistry
Analysis	15,245.69
Labour	5,116.68
Mapping and Rock Sampling
Analysis	15,245.69
Labour	5,116.68
Trenching
Analysis	15,245.69
Labour	5,116.68
Drilling
Drilling Cost	702,888.17
Analysis	15,245.69
Labour	5,116.68
Core Cutting	-
Core Storage	-
Mobilisation	-
Pad Preparation	-
Survey and Line Cutting
Contractors	6,181.05
Labour	-
GPS	499.51
Other Geological Expenses
Analysis - General	-
Farmer's Compensation	34.78
Community fees/Charges	0.55
Labour - General	-
Landsat	-
Maps and Databases	87.92
Plan Duplication	-
Roads and Access	605.34
Sample Preparation	826.35
Operational Field Supplies
Field Equipment Maintenance	1,972.54
General Field Supplies and Consumables	80,088.64
Other	-
Vehicles
Maintenance	21,317.99
Fuel and Lubricants	18,088.32
Other	-
Camp Running Expenses
Construction and Renovation	362.04
Office/ House Rent	30,341.61
Staff Food and Beverage	21,644.48
Office/ House Supplies and Consumables	14,505.62
Communications	10,996.93
Utilities and Services	6,684.43
Office/House Equipment Maintenance	8,476.49
Security Contractor	5,905.95
General Maintenance	788.92
Generator Fuel	2,060.32
Personnel
Consultants and Expatriate	125,916.89
National Personnel	164,261.36
Medical Expenses	5,160.96
Contractor - General	-
Travel and Transport
Accommodation	2,156.94
Business Airfares	4,266.92
Other	14,985.62
Licenses and permits
Recon & Prosp. License Fees	90.62
EPA permits	8.63
Search and registration	13.11
General Expenses
Audit and Legal fees	12,702.35
Miscellaneous Insurance	2,818.04
Bank Charges	6,304.22
Miscellaneous	-
Freight, Duties, Taxes etc	-
TOTAL	1,485,678.66

Table 4: Expenditure incurred on the Tinga Prospecting licence

3.5PROPOSED EXPLORATION WORK PROGRAMME

3.5.1Outline Of Proposed Future Exploration Program

Mapping on the Tinga licence should consist of litho-structural mapping of the existing Semafo trenches and the available outcrops. With the aim of further elucidating the structural deformation history in order to identify gold bearing structures and orientations.
It is recommended that some of the Semafo trenches are extended to the NW in order to confirm the presence of the shallow dipping mineralised thrust(?) intersected in the boreholes, during the second drill programme.
A further phase of scout reverse circulation drilling will be required in the future.

4.CONCLUSION AND RECOMMENDATIONS

Birim Goldfields intends to continue exploration on the Tinga Prospecting license. The systematic work and compilation of data undertaken by Birim will be followed up and targets will be pursued. Results from work completed have been encouraging and Birim is confident that additional careful systematic work could result in economic discoveries on the property.
Birim Goldfields requests that the Prospecting License be extended for an additional period to allow ongoing prospecting (Figure 7).
Birim Goldfields has expended approximately US$ 1,485,678.66 on the Tinga Prospecting License to date.
APPENDIX 1
DRILL HOLE BFE001 TO BFE063, AND BTI001 TO BTI018 COLLARS


APPENDIX 2
DRILL HOLE BFE001 TO BFE078, AND BTI001 TO BTI018 ASSAYS

APPENDIX 3
DRILL HOLE BFE001 TO BFE078, AND BTI001 TO BTI018 GEOLOGY

APPENDIX 4
STEREOGRAPHIC PLOTS FROM TINGA FAR EAST DRILL PROSPECT

• 
  PLOT OF POLES TO FOLIATION PLANES MEASURED IN DD CORE
  
• 
  PLOT OF POLES TO VEINS IN ALL DD HOLES
  
• 
  PLOT OF POLES TO INTERSECTION LINEATIONS IN DD CORE
  
• 
  PLOT OF POLES TO DYKES
  
• 
  PLOT OF POLES TO FRACTURE PLANES IN DD CORE
  
• 
  PLOT OF POLES TO FAULT PLANES IN DD CORE
  
• 
  PLOT OF POLES TO JOINT PLANES IN DD CORE
  
• 
  PLOT OF POLES TO LITHOLOGICAL CONTACTS