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| 1. | General.      Provide an open avenue of communication among the directors, auditors and      financial management of theCompany. |
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|   | The      Committee has the authority: |
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|   | (i)      to engage independent counsel and other advisors as it determines      necessary to carry out its duties, |
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|   | (ii)      to set and pay the compensation for any advisors employed by the audit      committee, and |
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|   | (iii)      to communicate directly with the internal and external      auditors. |
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| 2. | Committee      Charter. Review and update      the Committee’s charter annually. |
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| 3. | Auditor      Selection. Review and recommend to the Board the auditors to be selected      to be nominated for the purpose of preparing or issuing an auditor’s      report or performing other audit, review or attest services for the      Company and review and recommend the compensation of the independent      auditor. |
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| 4. | Auditor      Oversight.  Be directly responsible for overseeing the work of      the external auditor engaged for the purpose of preparing or issuing an      auditor's report or performing other audit, review or attest services for      the issuer, including the resolution of disagreements between management      and the external auditor regarding financial  reporting. |
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| 5. | Review      of Audit. Meet with the auditors, the Board and financial management of      the Company to review the scope of the proposed audit for the current year      and the audit procedures to be utilized, and at the conclusion thereof,      review such audit, including any comments or recommendations of the      auditors. |
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| 6. | Appointment      of CFO. Review and concur in the appointment, replacement, reassignment,      or dismissal of the Chief Financial Officer (the “CFO”) and any other key      financial executives involved in the financial reporting      process. |
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| 7. | Auditor      Independence. Confirm and assure the independence of the      auditors. |
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| 8. | Review      Financial Reporting and Accounting Standards. Review with the auditors,      the competitiveness and suitability of the financial and accounting      personnel and the adequacy and effectiveness of the financial reporting      and accounting standards and controls of the Company, and elicit any      recommendations for the improvement of such internal control procedures or      particular areas where new or more detailed controls or procedures are      desirable.  Particular emphasis should be given to the adequacy      of such internal controls to expose any payments, transactions, or      procedures that might be deemed illegal or otherwise      improper.   The Committee is also responsible for reviewing      the Company’s accounting policy note to ensure completeness and      acceptability with GAAP as part of the approval of the financial      statements. |
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| 9. | Internal      Audit Function. Review the applicability of an internal audit function of      the Company including the independence and authority of its reporting      obligations, the proposed audit plans for the coming year and the      coordination of such plans with theauditors. |
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| 10. | Pre-approval      of Non-audit Services. Be responsible for the pre-approval of all      non-audit services to be provided to the Company or its subsidiary      entities by the independentauditor. |
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| 11. | Review      Annual Financial Statements. Review the annual financial statements and      MD&A contained in the annual report to shareholders with management      and the auditors to determine that the auditors are satisfied with the      disclosure and content of the financial statements to be presented to the      shareholders. Upon review, recommend the annual financial statements and      MD&A for approval by the Board.  Any changes in accounting      principles should be reviewed. |
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| 12. | Review      Interim Financials. Review with management and the CFO the interim      financial reports and MD&A and recommend that such reports and      MD&A be approved by the Board before they are filed with the OSC, SEC      or other regulators. |
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| 13. | Risk      and Uncertainty.  The Committee is responsible for reviewing, as      part of its approval of the financial statements, uncertainty notes and      disclosures, and MD&Adisclosures. |
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| 14. | Press      Releases and MD&A. Prior to release, review with management and, where      necessary, recommend for approval by the Board any press releases and      MD&A that disclose annual or interim financial results or that contain      other significant financialinformation. |
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|   | The      Committee is responsible for being satisfied that adequate procedures are      in place for the review of the Company’s public disclosure of financial      information extracted or derived from the Company’s financial statements,      other than the public disclosure referred to in the preceding paragraph,      and must periodically assess the adequacy of those    procedures. |
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| 15. | Review      Related Party and Conflicts of Interest. Review with management and the      independent auditor significant risks or exposures and assess the steps      management has taken to minimize such risk to the Company.  This      includes a review of related party transactions and conflict of interest      transactions and the public disclosure of such transactions, if      required. |
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| 16. | Review      of Accounting and Financial Disclosure Policies. Provide sufficient      opportunity for the auditors to meet with the members of the audit      committee without members of management present.  Among the      items to be discussed in these meetings are the auditors’ evaluation of      the Company’s accounting policies and the clarity of the financial      information and disclosure practices adopted by the Company, and the      cooperation that the auditors received during the course of the      audit. |
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| 17. | Audit      Resources. Review accounting and financial human resources and succession      planning and audit efforts of the Company to assure completeness of      coverage, reduction of redundant efforts and the effective use of audit      resources. |
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| 18. | Committee      Minutes. Appoint a secretary to the Committee who need not be a director      or officer of the Company and will submit the minutes of all meetings of      the audit committee to, or discuss the matters discussed at each committee      meeting with, the Board. |
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| 19. | Committee      Reports. Report the Committee’s actions to the Board, including      recommendations that the Committee may deem  appropriate. |
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| 20. | Review      Internal Controls. Be responsible for reviewing the plan and scope of the      annual audit with respect to planned reliance and testing of controls, and      for reviewing major points contained in the auditor’s management letter      resulting from control evaluation and testing.  The Committee is      also responsible for receiving reports from management when significant      control deviations occur. |
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|   | The      Committee will also establish and review the Company’s procedures for      the: |
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| 21. | Hiring      Policies.  Be responsible for reviewing and approving the      Company’s hiring policies regarding partners, employees and former      partners and employees of the present and former external auditor of the      Company. |
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| 22. | Authority      to Investigate. Investigate any matter brought to its attention within the      scope of its duties, with the power to retain outside counsel, accountants      and others for this purpose if, in its judgment, that is      appropriate. |
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| 23. | Review      of Expense Accounts and Perquisites. Review policies and procedures with      respect to expense accounts and perquisites, including their use of      Company assets and address the results of any review of these areas with      the CFO. |
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| 24. | Legal      and Regulatory Matters. Review legal and regulatory matters that may have      a material impact on the Company’s financial statements and on its      compliance policies programs and procedures, including compliance with tax      and financial reporting laws and regulations, if and when issues      arise. |
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| 25. | Committee      Letter for Annual Report. Prepare a letter for inclusion in the annual      report that describes the Committee’s composition and responsibilities,      and how they were discharged. |
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| 26. | Other      Functions and Powers. The Committee will perform such other functions and      exercise such other powers as are assigned by the Company’s charter or      bylaws, or the Board or are prescribed from time to time for the audit      committee of a reporting company in Parts 2 and 4 of the Instrument and      other relevant legislation. |
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