|     GEOHEDRAL LLC(an exploration stage company) For the Period from Inception (July 21, 2006) through December 31, 2009 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|

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| REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                 | 1      |
|-------------------------------------------------------------------------|--------|
|                                                                    |   |
| FINANCIAL STATEMENTS                                                    |   |
|                                                                    |   |
| Balance Sheet                                                           |   |
| December 31, 2009                                                       | 2      |
|                                                                    |   |
| Statement of Operations                                                 |   |
| For the period from inception (July 21, 2006) through December 31, 2009 | 3      |
|                                                                    |   |
| Statement of Members’ Equity                                      |   |
| For the period from inception (July 21, 2006) through December 31, 2009 | 4      |
|                                                                    |   |
| Statement of Cash Flows                                                 |   |
| For the period from inception (July 21, 2006) through December 31, 2009 | 5      |
|                                                                    |   |
| Notes to the Financial Statements                                       | 6      |

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| Geohedral, LLC                                                                                                                                                                                                                                                                                                                                         |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (an exploration stage company)                                                                                                                                                                                                                                                                                                                         |
| Balance Sheet                                                                                                                                                                                                                                                                                                                                          |
|                                                        December 31, 2009 |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
| Assets                                                                                                                                                                                                                                                                                                                                                 |   |   |
| Current assets                                                                                                                                                                                                                                                                                                                                         |   |   |
|    Cash and cash equivalents                                                                                                                                                                                                                                                                                                                 | $ | 337,483     |
|    Prepaid annual fees                                                                                                                                                                                                                                                                                                                       |   | 294,840    |
|    Other current assets                                                                                                                                                                                                                                                                                                                      |   | 31,855    |
|      Total current assets                                                                                                                                                                                                                                                                                                          |   | 664,178    |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
| Mineral properties                                                                                                                                                                                                                                                                                                                                     |   | 238,659    |
| Equipment, net                                                                                                                                                                                                                                                                                                                                         |   | 109,268    |
|                                                                                                                                                                                                                                                                                                                                                   | $ | 1,012,105    |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
| Liabilities and Members' Equity                                                                                                                                                                                                                                                                                                                        |   |   |
| Current liabilities                                                                                                                                                                                                                                                                                                                                    |   |   |
|    Trade accounts payable                                                                                                                                                                                                                                                                                                                    | $ | 88,241    |
|    Accrued expenses                                                                                                                                                                                                                                                                                                                          |   | 60,176    |
|      Total current liabilities                                                                                                                                                                                                                                                                                                     |   | 148,417    |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
| Members' equity                                                                                                                                                                                                                                                                                                                                        |   | 863,688    |
|                                                                                                                                                                                                                                                                                                                                                   | $ | 1,012,105    |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
|                                                                                                                                                                                                                                                                                                                                                   |   |   |
| See accompanying notes to the financial statements.                                                                                                                                                                                                                                                                                                    |   |   |

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| Geohedral, LLC                                                        |   |                   |
|-----------------------------------------------------------------------|--------|------------------------|
| Statement of Operations                                               |   |                   |
| Cumulative period from inception (July 21, 2006) to December 31, 2009 |   |                   |
|                                                                  |   |                   |
|                                                                  |   |                   |
|                                                                  |   |                   |
| Expenses                                                              |   |                   |
| Mineral exploration expenses                                          | $      | 6,235,039    |
| General and administrative                                            |   | 156,262      |
|                                                                  |   |                   |
| Total expenses                                                        |   | 6,391,301    |
|                                                                  |   |                   |
| Operating loss                                                        |   | (6,391,301)       |
|                                                                  |   |                   |
| Interest income                                                       |   | 21,571       |
| Deficit accumulated during the exploration stage                      | $      | (6,369,730)       |
|                                                                  |   |                   |
|                                                                  |   |                   |
|                                                                  |   |                   |
|                                                                  |   |                   |
|                                                                  |   |                   |
|                                                                  |   |                   |
| See accompanying notes to the financial statements.                   |   |         |

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| Geohedral, LLC                                                        |
|-----------------------------------------------------------------------|
| (an exploration stage company)                                        |
| Statement of Members' Equity                                          |
| Cumulative period from inception (July 21, 2006) to December 31, 2009 |
|                                                                  |   |   |   |   |
|                                                                  |   |   |   |   |
|                                                                  |   |   |   | Members' |
|                                                                  | Units |   |   | Equity |
|                                                                  |   |   |   |   |
| Units issued to founding members                                      | 85,000    |   | $ | —     |
| Initial private placement in 2008                                     | 26,348    |   |   | 3,155,000    |
| Capital contributions in 2008                                         | 13,696    |   |   | 1,640,000    |
| Capital contributions in 2009                                         | 21,267    |   |   | 2,546,694    |
| Syndication costs                                                     | —     |   |   | (108,276)   |
| Deficit accumulated during the exploration stage                      | —     |   |   | (6,369,730)   |
| Balance as of December 31, 2009                                       | 146,311    |   | $ | 863,688    |
|                                                                  |   |   |   |   |
|                                                                  |   |   |   |   |
|                                                                  |   |   |   |   |
|                                                                  |   |   |   |   |
| See accompanying notes to the financial statements.                   |

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| Geohedral, LLC                                                            |
|---------------------------------------------------------------------------|
| (an exploration stage company)                                            |
| Statement of Cash Flows                                                   |
| Cumulative period from inception (July 21, 2006) to December 31, 2009     |
|                                                                      |   |   |
|                                                                      |   |   |
|                                                                      |   |   |
| Operating activities                                                      |   |   |
| Deficit accumulated during the exploration stage                          | $ | (6,369,730)   |
| Adjustments to reconcile deficit accumulated during the exploration stage |   |   |
|    to net cash used in operating activities:                    |   |   |
|     Depreciation of equipment                         |   | 32,365    |
|     Changes in operating assets and liabilities       |   |   |
|       Prepaid annual fees                        |   | (294,840)   |
|       Other current assets                       |   | (31,855)   |
|       Trade accounts payable                     |   | 73,927    |
|       Accrued expenses                           |   | 60,176    |
| Net cash used in operating activities                                     |   | (6,529,957)   |
|                                                                      |   |   |
| Investing Activities                                                      |   |   |
| Acquisition of mineral properties                                         |   | (238,659)   |
| Acquisition of equipment                                                  |   | (141,633)   |
| Net cash used in investing activities                                     |   | (380,292)   |
|                                                                      |   |   |
| Financing Activities                                                      |   |   |
| Members contributions                                                     |   | 7,341,694    |
| Syndication fees paid                                                     |   | (93,962)   |
| Net cash provided by investing activities                                 |   | 7,247,732    |
| Net increase in cash and cash equivalents                                 |   | 337,483    |
| Cash and cash equivalents as of date of inception (July 21, 2006)         |   | —     |
| Cash and cash equivalents as of December 31, 2009                         | $ | 337,483    |
|                                                                      |   |   |
|                                                                      |   |   |
|                                                                      |   |   |
|                                                                      |   |   |
|                                                                      |   |   |
| See accompanying notes to the financial statements.                       |   |   |

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| 1   | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|---------------|--------------------------------------------|

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| 2   | GOING CONCERN UNCERTAINTY |
|---------------|---------------------------|

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| 3   | EQUIPMENT |
|---------------|-----------|

| Field equipment               | $      | 86,964  |
|-------------------------------|--------|---------|
| Computer equipment            |   | 54,669  |
|                          |   | 141,633 |
| Less accumulated depreciation |   | 32,365  |
|                          | $      | 109,268 |

| 4   | RELATED-PARTY TRANSACTIONS |
|---------------|----------------------------|

| 5   | COMMITMENTS |
|---------------|-------------|