Equity Investments

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http://www.valgold.com/s/ShareStructure.asp



 
Company Symbol Number of Shares Fair Value - July 31, 2012
Northern Gold Mining Inc. NGM.V 10,052,500 $2,663,913
Total   10,052,500 $2,663,913


ValGold received 16,000,000 common shares in Northern Gold valued at $7,000,000 from the sale of the
Garrison Project on May 13, 2011.