| 1.   | General |
|----------------|---------|

| 2.   | Members |
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| 3.   | Duties |
|----------------|--------|

| ·   | Gain                an understanding of whether internal control recommendations made                by                external auditors have been implemented by                management. |
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| ·   | Gain                an understanding of the current areas of greatest financial risk                and                whether management is managing these                effectively. |
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| ·   | Review                significant accounting and reporting issues, including recent professional                and regulatory pronouncements, and understand their impact on the                financial statements. |
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| ·   | Review                any legal matters which could significantly impact the financial                statements as reported on by the Corporation’s counsel and engage outside                independent counsel and other advisors whenever as deemed necessary                by the                Committee to carry out its duties. |
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| ·   | Review                the Corporation’s annual and quarterly financial statements, including                Management’s Discussion and Analysis with respect thereto, and all annual                and interim earnings press releases, prior to public dissemination,                including any certification, report, opinion or review rendered by                the                external auditors and determine whether they are complete and consistent                with the information known to Committee members; determine that the                auditors are satisfied that the financial statements have been prepared                in                accordance with generally accepted accounting                principles. |
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| ·   | Pay                particular attention to complex and/or unusual transactions such                as those                involving derivative instruments and consider the adequacy of disclosure                thereof. |
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| ·   | Focus                on judgmental areas, for example those involving valuation of assets                and                liabilities and other commitments and                contingencies. |
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| ·   | Review                audit issues related to the Corporation’s material associated and                affiliated companies that may have a significant impact on the                Corporation’s equity investment. |
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| ·   | Meet                with management and the external auditors to review the annual financial                statements and the results of the                audit. |
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| ·   | Evaluate                the fairness of the interim financial statements and related disclosures                including the associated Management’s Discussion and Analysis, and obtain                explanations from management on                whether: |
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| ·   | actual                financial results for the interim period varied significantly from                budgeted or projected results; |
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| ·   | generally                accepted accounting principles have been consistently                applied; |
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| ·   | there                are any actual or proposed changes in accounting or financial reporting                practices; or |
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| ·   | there                are any significant or unusual events or transactions which require                disclosure and, if so, consider the adequacy of that                disclosure. |
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| ·   | Review                the external auditors’ proposed audit scope and approach and ensure no                unjustifiable restriction or limitations have been placed on the                scope. |
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| ·   | Recommend                to the Board an external auditor to be nominated for appointment                by the                Corporation’s shareholders.  Subject to the appointment of the                Corporation’s external auditor by the Corporation’s shareholders, the                Committee will be directly responsible for the appointment, compensation,                retention and oversight of the work of external auditor engaged for                the                purpose of preparing or issuing an auditor’s report or performing other                audit, review or attest services for the Corporation, including the                resolution of disagreements between management and the external auditor                regarding financial reporting.  The Corporation’s external                auditor shall report directly to the                Committee. |
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| ·   | Review                with the Corporation’s management, on a regular basis, the performance of                the external auditors, the terms of the external auditor’s engagement,                accountability and experience. |
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| ·   | Pre-approve                all non-audit services to be provided to the Corporation or its subsidiary                entities by the external auditor. |
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| ·   | Consider                at least annually the independence of the external auditors, including                reviewing the range of services provided in the context of all consulting                services obtained by the Corporation,                including: |
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| ·   | insuring                receipt from the independent auditor of a formal written statement                delineating all relationships between the independent auditor and                the                Company, consistent with the Independence Standards Board Standard                No. 1                and related Canadian regulatory body                standards; |
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| ·   | considering                and discussing with the independent auditor any relationships or                services,                including non-audit services, that may impact the objectivity and                independence of the independent auditor;                and |
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| ·   | as                necessary, taking, or recommending that the Board take, appropriate                action                to oversee the independence of the independent                auditor. |
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| ·   | Ensure                that adequate procedures are in place for the review of the Corporation’s                public disclosure of financial information extracted or derived from                the                Corporation’s financial statements, other than the public disclosure                contained in the Corporation’s financial statements, Management’s                Discussion and Analysis and annual and interim earnings press releases;                and must periodically assess the adequacy of those                procedures. |
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| ·   | Review                any significant disagreement among management and the external auditors                in                connection with the preparation of the financial                statements. |
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| ·   | Review                and approve the Corporation’s hiring policies regarding partners,                employees and former partners and employees of the present and former                external auditors of the                Corporation. |
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| ·   | Establish                a procedure for: |
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| ·   | the                confidential, anonymous submission by employees of the Corporation                of                concerns regarding questionable accounting or auditing matters;                and |
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| ·   | the                receipt, retention and treatment of complaints received by the Corporation                regarding accounting, internal accounting controls, or auditing                matters. |
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| ·   | Meet                separately with the external auditors to discuss any matters that                the                committee or auditors believe should be discussed privately in the                absence                of management. |
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| ·   | Endeavour                to cause the receipt and discussion on a timely basis of any significant                findings and recommendations made by the external                auditors. |
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| ·   | Ensure                that the Board is aware of matters which may significantly impact                the                financial condition or affairs of the                business. |
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| ·   | Review                and oversee all related party                transactions. |
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| ·   | Perform                other functions as requested by the                Board. |
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| ·   | If                necessary, institute special investigations and, if appropriate,                hire                special counsel or experts to assist, and set the compensation to                be paid                to such special counsel or other                experts. |
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| ·   | Review                and re-assess annually the adequacy of this Charter and recommend                updates                to this charter; receive approval of changes from the                Board. |
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| ·   | With                regard to the Corporation’s internal control procedures, the Committee is                responsible to: |
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| ·   | review                the appropriateness and effectiveness of the Corporation’s policies and                business practices which impact on the financial integrity of the                Corporation, including those related to internal auditing, insurance,                accounting, information services and systems and financial controls,                management reporting and risk management;                and |
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| ·   | review                compliance under the Corporation’s business conduct and ethics policies                and to periodically review these policies and recommend to the Board                changes which the Committee may deem appropriate;                and |
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| ·   | review                any unresolved issues between management and the external auditors                that                could affect the financial reporting or internal controls of the                Corporation; and |
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| ·   | periodically                review the Corporation’s financial and auditing procedures and the extent                to which recommendations made by the internal audit staff or by the                external auditors have been                implemented. |
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| ·   | Comply                with Rule 10A – 3(b)(2), (3), (4) and (5) under the Securities Exchange                Act of 1934. |
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| 4.   | Chair |
|----------------|-------|

| 5.   | Meetings |
|----------------|----------|

| 6.   | Quorum |
|----------------|--------|

| 7.   | Removal                and                Vacancy |
|----------------|---------------------------------------------------|

| 8.   | Authority |
|----------------|-----------|

| ·   | engage                independent counsel and other advisors as it determines necessary                to carry                out its duties. |
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| ·   | set                and pay the compensation for any advisors employed by the Committee;                and |
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| ·   | communicate                directly with the internal and external                auditors. |
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| 9.   | Secretary                and                Minutes |
|----------------|-----------------------------------------------------|

| 10.   | Funding |
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