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| 1. | General. Provide an open      avenue of communication among the directors, auditors and financial      management of the Company. |
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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 the auditors. |
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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      independent auditor. |
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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 theaudit. |
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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 deemappropriate. |
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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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