6-K

FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For: February 1 – March 15, 2006

Platinum Group Metals Ltd.

(SEC File No. 0-30306)

Suite 328 – 550 Burrard Street, Vancouver BC, V6C 2B5, CANADA

Address of Principal Executive Office

The registrant files annual reports under cover:

Form 20-F [ X ]

Form 40-F  [   ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  [    ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  [    ]

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also

thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities

 Exchange Act of 1934:                           Yes [    ]   No  [ X ]

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with

Rule 12g3-2(b): 82-           

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: March 20, 2006

   "Frank Hallam"          

FRANK R. HALLAM

Director & CFO

EXHIBIT LIST

99.1  Material Change Report dated February 27, 2006

99.2  Material Change Report dated March 2, 2006

99.3  Material Change Report dated March 6. 2006

99.4  News Release dated February 27, 2006

99.5  News Release dated March 2, 2006

99.6  News Release dated March 6, 2006

EX-99.1

FORM 53-901F

MATERIAL CHANGE REPORT

UNDER SECTION 85(1) OF THE SECURITIES ACT

AND SECTION 151 OF THE SECURITIES RULES

ITEM 1.          REPORTING ISSUER

PLATINUM GROUP METALS LTD.

328 – 550 Burrard Street Vancouver BC, V6C 2B5

Telephone:    (604) 899-5450     Facsimile:    (604) 484-4710

ITEM 2.          Date of Material Change          February 27, 2006

ITEM 3.          PRESS RELEASE

 The Issuer issued a press release at Vancouver, BC dated February 27, 2006 to the TSX.

ITEM 4.          SUMMARY OF MATERIAL CHANGE

Platinum Group Metals Ltd. (PTM-TSX) announced a non-brokered private placement for 1.7 million units at a price of $1.45 per unit.

ITEM 5.         Full Description of Material Change  

See News Release dated February 27, 2006.

ITEM 6.         RELIANCE ON SECTION 85(2) OF THE ACT (BRITISH COLUMBIA) AND SECTION 118(2) OF THE ACT (ALBERTA)  N/A

ITEM 7.         OMITTED INFORMATION    N/A

ITEM 8.         SENIOR OFFICERS

The following senior officer of the Issuer is knowledgeable about the material change and may be contacted by the Commission at 

the following telephone number:

R. Michael Jones, President & CEO        Phone: (604) 899-5450

  ITEM 9.         STATEMENT OF SENIOR OFFICER

The foregoing accurately discloses the material change referred to herein. Dated at Vancouver, British Columbia this 2nd day of March 2, 2006.

Platinum Group Metals Ltd.

“Frank R. Hallam”

Frank R. Hallam,

Director & CFO

Platinum Group Metals Ltd.

MATERIAL CHANGE REPORT

328 – 550 Burrard Street, Vancouver BC, V6C 2B5

Page 1 of 1

EX-99.2

FORM 53-901F

MATERIAL CHANGE REPORT

UNDER SECTION 85(1) OF THE SECURITIES ACT

AND SECTION 151 OF THE SECURITIES RULES

ITEM 1.          REPORTING ISSUER

PLATINUM GROUP METALS LTD.

328 – 550 Burrard Street Vancouver BC, V6C 2B5

Telephone:    (604) 899-5450     Facsimile:    (604) 484-4710

ITEM 2.          Date of Material Change          March 2, 2006

ITEM 3.          PRESS RELEASE

 The Issuer issued a press release at Vancouver, BC dated March 2, 2006 to the TSX.

ITEM 4.          SUMMARY OF MATERIAL CHANGE

Platinum Group Metals Ltd. (PTM-TSX) announced increased resources on its WBJV. The updated independent resource calculation shows an increase in Indicated 4E resources for the project of 96% from 1.31 million ounces to 2.57 million ounces

ITEM 5.         Full Description of Material Change  

See News Release dated March 2, 2006.

ITEM 6.         RELIANCE ON SECTION 85(2) OF THE ACT (BRITISH COLUMBIA) AND SECTION 118(2) OF THE ACT (ALBERTA)  N/A

ITEM 7.         OMITTED INFORMATION    N/A

ITEM 8.         SENIOR OFFICERS

The following senior officer of the Issuer is knowledgeable about the material change and may be contacted by the Commission at 

the following telephone number:

R. Michael Jones, President & CEO        Phone: (604) 899-5450

  ITEM 9.         STATEMENT OF SENIOR OFFICER

The foregoing accurately discloses the material change referred to herein. Dated at Vancouver, British Columbia this 10th day of March, 2006.

Platinum Group Metals Ltd.

“Frank R. Hallam”

Frank R. Hallam,

Director & CFO

Platinum Group Metals Ltd.

MATERIAL CHANGE REPORT

328 – 550 Burrard Street, Vancouver BC, V6C 2B5

Page 1 of 1

EX-99.3

FORM 53-901F

MATERIAL CHANGE REPORT

UNDER SECTION 85(1) OF THE SECURITIES ACT

AND SECTION 151 OF THE SECURITIES RULES

ITEM 1.          REPORTING ISSUER

PLATINUM GROUP METALS LTD.

328 – 550 Burrard Street Vancouver BC, V6C 2B5

Telephone:    (604) 899-5450     Facsimile:    (604) 484-4710

ITEM 2.          Date of Material Change          March 6, 2006

ITEM 3.          PRESS RELEASE

 The Issuer issued a press release at Vancouver, BC dated March 6, 2006 to the TSX.

ITEM 4.          SUMMARY OF MATERIAL CHANGE

Platinum Group Metals Ltd. (PTM-TSX) reports the non-brokered private placement announced February 27, 2006 was closed on March 6, 2006.

ITEM 5.         Full Description of Material Change  

See News Release dated March 6, 2006.

ITEM 6.         RELIANCE ON SECTION 85(2) OF THE ACT (BRITISH COLUMBIA) AND SECTION 118(2) OF THE ACT (ALBERTA)  N/A

ITEM 7.         OMITTED INFORMATION    N/A

ITEM 8.         SENIOR OFFICERS

The following senior officer of the Issuer is knowledgeable about the material change and may be contacted by the Commission at 

the following telephone number:

R. Michael Jones, President & CEO        Phone: (604) 899-5450

  ITEM 9.         STATEMENT OF SENIOR OFFICER

The foregoing accurately discloses the material change referred to herein. Dated at Vancouver, British Columbia this 14th day of March, 2006.

Platinum Group Metals Ltd.

“Frank R. Hallam”

Frank R. Hallam,

Director & CFO

Platinum Group Metals Ltd.

MATERIAL CHANGE REPORT

328 – 550 Burrard Street, Vancouver BC, V6C 2B5

Page 1 of 1

EX-99.4

PLATINUM GROUP METALS LTD.	Suite 328 - 550 Burrard Street Vancouver, BC, Canada V6C 2B5 P: 604.899.5450 F: 604.484.4710
NEWS RELEASE	No. 06-124 February 27, 2006

Platinum Group Metals Ltd. Announces Private Placement

Vancouver, BC February 27, 2006 – Platinum Group Metals (TSX:PTM) announced today a non-brokered private placement for 1.7 million units at a price of $1.45 per unit. The proceeds will fund pre-feasibility engineering and resource expansion and definition drilling on the Western Bushveld Joint Venture. The placement was made with one institutional investor group who are current shareholders.

Each unit will consist of one common share and one half a common share non-transferable purchase warrant exercisable at a price of $1.75 for a period of 24 months from the date of closing for the placement. There are no finder’s fees or commissions to be paid in relation to this placement.

The securities issued by way of this placement will be subject to a four-month hold period. Closing of this placement will be prompt, subject to regulatory approval.

Platinum Group Metals Ltd.  Outline and Other News (www.platinumgroupmetals.net)

PTM is based in Vancouver, BC, Canada and Johannesburg, South Africa, with a dual-continent management team who provide successful track records of more than 20 years in exploration, mine discovery, mine construction, and mine operations.

Formed in 2000, PTM is focused on the development of platinum operations in both Canada and South Africa. PTM holds significant mineral rights in the Northern and Western Limbs of the Bushveld Igneous Complex of South Africa, including a joint venture with Anglo Platinum Limited on the Western Limb of the Bushveld Complex.   

The Western Bushveld Joint Venture is PTM’s focus.  An updated independent resource calculation and project update for the Western Bushveld Joint Venture is to be completed shortly.

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On behalf of the Board of

Platinum Group Metals Ltd.

“R. Michael Jones”

R. Michael Jones

President and Director

For further information contact:
R. Michael Jones, President Erin Airton, Manager of Communications/Strategic Planning or John Foulkes, Manager Corporate Development Platinum Group Metals Ltd., Vancouver Tel: (604) 899-5450 / Toll Free: (866) 899-5450	Larry Roth Roth Investor Relations, NJ Tel: (732) 792-2200

The TSX Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.

Note to U.S. Investors: Investors are urged to consider closely the disclosure in our Form 20F, File No. 0-30306, available at our office:  Suite 328-550 Burrard Street, Vancouver BC, Canada, V6C 2B5 or from the SEC: 1(800) SEC-0330. The Company may access safe harbour rules.

NOT FOR DISSEMINATION IN THE UNITED STATES

EX-99.5

PLATINUM GROUP METALS LTD.	Suite 328 - 550 Burrard Street Vancouver, BC, Canada V6C 2B5 P: 604.899.5450 F: 604.484.4710
NEWS RELEASE	No. 06-125 March 2, 2006

Significant Increase to Resource Base for Platinum Group Metals’
Western Bushveld Joint Venture

Vancouver/Johannesburg March 2, 2006…  Platinum Group Metals Ltd. (PTM-TSX; PTMQF-OTCBB) announced today increased resources on its Western Bushveld Joint Venture. (37% PTM, 37% Anglo Platinum, 26% Africa Wide) The updated independent resource calculation shows an increase in Indicated 4E (platinum, palladium, rhodium and gold) resources for the project of 96% from 1.31 million ounces to 2.57 million ounces. In addition, Inferred 4E resources have grown by 32% from 3.91 million ounces to 5.14 million ounces. Please see tables below for full details.

“The recent drilling confirms increased resources accessible with lower capital cost declines rather than the more expensive vertical shaft option that was investigated in previous studies. The Pre-feasibility Study now underway is concentrating on the decline option. With these results the project team continues to target the Pre-feasibility Study for summer 2006 and full Feasibility study by December 2006,” said R. Michael Jones, President of PTM.

About 40% of the prospective project area has now been classified as a resource by the drilling to date. Drilling is planned to continue as the Pre-feasibility advances.

Updated February 28, 2006 Independent Estimated Indicated Resource Base: See Cautionary Notes

(MR FPP indicates Feldspathic Pegmatoidal Pyroxenite on the Merensky Reef and MR CR indicates Merensky Reef Contact Reef.)

The following note is mandated under SEC Guidelines to appear before the resource table. Cautionary Note to U.S. Investors concerning estimates of Measured and Indicated Resources. This section uses the terms “measured” and “indicated resources”. We advise U.S. investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part of all of mineral deposits in these categories will ever be converted into reserves.

Indicated Resource
	Cut-Off (cm g/t)	Million Tonnes	Grade g/t  (4E)	Mining Width (metre)	Diluted Mining Width (metre)	Tonnes PGM (4E)	Million Ounces PGMs (4E)
MR FPP	100	5.816	6.91	1.22	1.22	40.16	1.2911
MR CR	300	0.007	6.86	1.18	1.18	0.05	0.0016
UG2	100	14.630	2.72	1.42	1.42	39.81	1.2800
Total Indicated		20.453	3.91	1.28	1.28	80.023	2.5728

Prill Splits	Pt	Pt g/t	Pd	Pd g/t	Rh	Rh g/t	Au	Au g/t
MR FPP	65%	4.48	27%	1.85	4%	0.29	4%	0.29
MR CR	65%	4.45	27%	1.84	4%	0.28	4%	0.29
UG2	63%	1.71	27%	0.74	9%	0.25	1%	0.03

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Updated February 28, 2006 Independent Estimated Inferred Resource Base: See Cautionary Notes

The following note is mandated under SEC Guidelines to appear before the resource table. Cautionary Note to U.S. Investors concerning estimates of Inferred Resources. This section uses the term “inferred resources”. We advise U.S. investors that while that term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category.  Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

Inferred Resource

	Cut-Off (cm g/t)	Million Tonnes	Grade g/t (4E)	Mining Width (metre)	Diluted Mining Width (metre)	Tonnes PGM (4E)	Million Ounces PGMs (4E)
MR FPP	100	18.322	6.18	1.21	1.21	113.16	3.6382
MR CR	300	0.178	6.14	1.04	1.04	1.09	0.0351
UG2	100	12.485	3.66	1.43	1.43	45.64	1.4674
Total Inferred		30.985	5.16	1.23	1.28	159.89	5.1407

Prill Splits	Pt	Pt g/t	Pd	Pd g/t	Rh	Rh g/t	Au	Au g/t
MR FPP	65%	4.01	27%	1.65	4%	0.26	4%	0.26
MR CR	65%	3.99	27%	1.65	4%	0.26	4%	0.26
UG2	63%	2.30	27%	0.99	9%	0.33	1%	0.03

Resource Details

The resources outlined have not taken into account sufficient engineering, legal, permitting, financial and other considerations to be considered or classified as “Reserves”. The Pre-feasibility Study, which is now in progress, will address some of these issues. The Feasibility Study is targeted for completion at the end of 2006.

This resource estimate has substantially changed since December 12, 2005. The resource base is at a suitable confidence level to allow for the commencement of the pre-feasibility design process and further drilling is planned prior to final financial modelling for the Pre-feasibility Study. This drilling will have the objective of increasing the proportion of the resource in the Indicated category so that it can be included in the financial model under SAMREC and NI-43101 guidelines. The drilling will also investigate further areas with reef potential along strike within the joint venture area. The diluted mining width included in the resource calculation for the Merensky Reef has decreased slightly from 1.3 metres to 1.2 metres as part of the optimization of the potential mining cut. The UG-2 reef has a diluted mining cut width estimate of 1.4 metres.

The grade thickness (centimetre gram per ton) cut-off was determined by looking at operating costs and mining methods for other platinum mines nearby in the Bushveld Complex including the adjoining BRPM platinum mine that is currently producing approximately 200,000 ounces of refined platinum per year. Operating costs considered were reduced approximately 20%-30% from the Preliminary Assessment estimate as a result of the reduced mining depth for significant amounts of the resources and the proposed ease of access via declines. Metals prices and the exchange rates broadly considered for the resources are consistent with the long term prices used in the Preliminary Assessment, August 2005 of (US$ 871 Pt, US$ 184 Pd, US$ 1930 Rd, and US$ 426 Au, R/US$ 6.55:1).

PTM has completed approximately 36,475 metres of drilling in 93 holes and this update includes the results up to hole 87, along with previous results from Anglo Platinum. The resources are estimated under SAMREC categories

3

by the kriging statistical method and the Indicated Resources have a drill spacing of approximately 250 metres or less. In keeping with best practice in resource estimation, an allowance for known and anticipated geological losses is made. These are estimated at 35% of the project resource area and the resource estimate has taken this into account.

The prill split estimates of the platinum, palladium, rhodium, and gold (4E) are estimated in the resource tables. While a rigorous statistical process of resource estimates has been completed on the combined 4E grades consistent with South African platinum industry best practice for estimation, caution must be exercised with respect to the prill-split-estimates as they have been calculated using the arithmetic mean of the assay information.

Pre-feasibility Study Update

PTM as operator of the Joint Venture and has engaged a multi-discipline team of approximately 20 independent engineers, which commenced detailed Pre-feasibility Study work in early January 2006. The Pre-feasibility Study will consider the opportunities presented as the result of further drilling up until April or May of 2006. The Pre-feasibility Study will consider and outline the details and possible mitigation of several considered projects risks, not yet assessed in detail, including metallurgical recoveries, smelt costs and refining costs, surface and mining rights, permits and involvement of communities in compliance with the Minerals and Petroleum Resources Development Act28 (2002).

Qualified Person, Data Verification, Quality Control and Assurance

Charles Muller is the Independent Qualified Person, “QP” for the resource assessment, this resource report and this Press Release. He was also the overall QP for the December 12, 2005 Resource Update and the Preliminary Assessment Report filed on Sedar August 12, 2005. He is registered with SACNASP (South African Council for Natural Scientific Professions) (Registration No. 400201/04). Mr. Muller is an independent consultant with 17 years experience as a geologist, and resource evaluator. In addition to data verification procedures for confirmation and entry of the drill data into the kriged resource model, Muller is familiar with the internal PTM QP’s work and the history of work on these reef deposits over the past 10 years. PTM’s internal QPs are responsible for the collection of geological data and sampling information during the drilling program.

Samples were analyzed under PTM’s and Anglo Platinum’s protocols previously published and filed on Sedar (August 12, 2005) for the project including insertion of blanks, duplicates and certified reference materials in the assay stream once in every 24 or fewer samples. This is in addition to internal quality control measures undertaken by the contracted analytical facilities. PTM’s samples were analyzed at accredited labs, Setpoint Labs, in Johannesburg, and Genalysis Laboratories in Perth, Australia.

As operator, PTM is responsible for exploration and engineering activities of the Western Bushveld Joint Venture. Anglo Platinum has neither been involved in the preparation of this resource declaration nor in the evaluation of the results thereof.

Further Cautionary Notes: Cautionary Note to U.S. and All Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. This press release and our web site also contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

Information with respect to other deposits is referred to here and on the company website as a result of the material importance of the Bushveld Complex to platinum specifically and that the adjoining mines are considered for the determination of cut-off for resources.

- 30 -

iv

About Platinum Group Metals Ltd. (www.platinumgroupmetals.net)

PTM is based in Vancouver, BC, Canada and Johannesburg, South Africa, with a dual-continent management team who provide successful track records of more than 20 years in exploration, mine discovery, mine construction, and mine operations.

Formed in 2000, the Company is focused on the development of platinum operations in both countries. PTM holds significant mineral rights in the Northern and Western Limbs of the Bushveld Igneous. Complex of South Africa including a joint venture with Anglo Platinum Limited on the Western Limb of the Bushveld Complex. The Western Limb of the Bushveld Complex is responsible for approximately 70% of the annual platinum production of the world. The Western Bushveld Joint Venture, where PTM has the right to earn a 37% interest, includes Indicated and Inferred Resources with further areas under drilling investigation. Anglo Platinum, the world leader in platinum, holds a 37% interest and Africa Wide a Black Economic Empowerment Company, under the South Africa’s Mining Charter, holds a 26% interest.

On behalf of the Board of

Platinum Group Metals Ltd.

“R. Michael Jones”

R. Michael Jones

President and Director

For further information contact:
R. Michael Jones, President Erin Airton, Manager of Communications/Strategic Planning or John Foulkes, Manager Corporate Development Platinum Group Metals Ltd., Vancouver Tel: (604) 899-5450 / Toll Free: (866) 899-5450	Larry Roth Roth Investor Relations, NJ Tel: (732) 792-2200

The TSX Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management. There can be no assurance that any of the assumptions in the resource estimates or any reference to potential mine plans will be supported by a Pre-feasibility or Feasibility Study or that any forward looking event will come to pass. The data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. No firm quotes for costs have been received. The legal right to mine the project has not been confirmed or applied for and the process for such application is new in the Republic of South Africa. The potential capital cost of the project is beyond the current means of the Company and there can be no assurance that financing for further working capital will be available.

Note to U.S. Investors: Investors are urged to consider closely the disclosure in our Form 20F, File No. 0-30306, available at our office:  Suite 328-550 Burrard Street, Vancouver BC, Canada, V6C 2B5 or from the SEC: 1(800) SEC-0330. The Company may access safe harbour rules.

EX-99.6

PLATINUM GROUP METALS LTD.	Suite 328 - 550 Burrard Street Vancouver, BC, Canada V6C 2B5 P: 604.899.5450 F: 604.484.4710
NEWS RELEASE	No. 06-126 March 6, 2006

NON-BROKERED PRIVATE PLACEMENT CLOSED

Vancouver/Johannesburg March 6, 2006… Platinum Group Metals Ltd. (“PTM”) (TSX: PTM, OTCBB: PTMQF) reports the non-brokered private placement announced February 27, 2006 was closed on March 6, 2006. Gross proceeds raised from the 1.7 million unit placement amount to $2,465,000. Each unit consists of one common share and one half a common share purchase warrant, with each whole warrant exercisable into a common share at a price of $1.75 for a period of 24 months until March 6, 2008. The securities issued by way of this placement will be subject to a four-month hold period in compliance with NI 45-102. There are no finder’s fees or commissions to be paid in relation to this placement. Proceeds will fund pre-feasibility engineering and resource expansion and definition drilling on the Western Bushveld Joint Venture.

As a result of this placement the Company now has 47,698,734 common shares issued and outstanding and 55,980,936 on a fully diluted basis.

Platinum Group Metals Ltd. (www.platinumgroupmetals.net)

PTM is based in Vancouver, BC, Canada and Johannesburg, South Africa, with a dual-continent management team who provide successful track records of more than 20 years in exploration, mine discovery, mine construction, and mine operations.

Formed in 2000, PTM is focused on the development of platinum operations in both Canada and South Africa. PTM holds significant mineral rights in the Northern and Western Limbs of the Bushveld Igneous Complex of South Africa, including a joint venture with Anglo Platinum Limited on the Western Limb of the Bushveld Complex.   

-30-

For US investors: SEC Form 20F, File No. 0-30306

On behalf of the Board of

Platinum Group Metals Ltd.

“Frank R. Hallam”

Frank R. Hallam

Director & CFO

DO NOT DISSEMINATE TO U.S.A.

2

For further information contact:
R. Michael Jones, President John Foulkes, Manager Corporate Development or Erin Airton, Manager of Communications/Strategic         Planning Platinum Group Metals Ltd., Vancouver Tel: (604) 899-5450 / Toll Free: (866) 899-5450	Larry Roth Roth Investor Relations, NJ Tel: (732) 792-2200

The TSX Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management. There can be no assurance that any of the assumptions in the resource calculation will be supported by a Feasibility Study or will come to pass. Data is incomplete and considerable additional work will be required to complete further evaluation including but not limited to drilling, engineering and socio-economic studies and investment. No firm quotes for costs have been received. The legal right to mine the project discussed has not been confirmed or applied for and the process for such application is new in South Africa and untested. The potential capital cost of the project is beyond the current means of the Company and there can be no assurance that financing for further work will be available.

Note to U.S. Investors: Investors are urged to consider closely the disclosure in our Form 20F, File No. 0-30306, available at our office:  Suite 328-550 Burrard Street, Vancouver BC, Canada, V6C 2B5 or from the SEC: 1(800) SEC-0330. The US Securities and Exchange Commission does not recognize the reporting of Inferred Resources. These resources are reported under Canadian National Instrument 43-101 and have a great amount of uncertainty and risk as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of Inferred Resources will ever be upgraded to a higher category. Under Canadian Rules estimates of Inferred Mineral Resources may not form the sole basis of feasibility studies or pre-feasibility studies. US INVESTORS ARE CAUTIONED NOT TO ASSUME THAT PART OR ALL OF AN INFERRED RESOURCE EXISTS, OR ARE ECONOMICALLY OR LEGALLY MINEABLE.