Priority will be given to securing those opportunities which offer the potential for world class discoveries or, if the opportunity is more modest in size, provides potential for rapid advancement to production. Acquisition of prospects will be made by way of formal application, joint venture or purchase.

The Company is uniquely placed through its Chairman, Gbite Adeniji, to identify Nigerian parties who are involved in the mining industry and who are seeking joint venture partners. Mr Adeniji has been closely involved with the Nigerian Government in drafting the basis of the new Mining Code and has been engaged for many years, through the legal practice of which he is a senior partner, in all aspects of the Nigerian resources industry.

ERIN has established an operating office in Abuja (the Federal Capital) which is headed up by Dr David Byrne, an experienced exploration geologist with previous involvement in West African mineral exploration. A team of Nigerian geologists will work with David in field evaluation programs.

Funds will be used to:

• Initiate the analysis of existing and newly released geophysical, geological and geochemical data generated by the Nigerian Geological Survey Agency.

• Undertake the initial due diligence evaluation work and take the necessary steps to secure mining/exploration tenure considered to be prospective for a range of commodities. Tenure may be secured by way of fresh application, joint venture or purchase, as appropriate

• Initiate the first phase of exploration and evaluation work at each project secured to enhance its prospectivity and to enable funding of ongoing programs to be secured.

• Meet day to day administrative and corporate expenditure required to establish and carry out the Company’s exploration and ongoing fundraising activities.