Competent Person's Report for Rooderand
The directors of Chrometco Limited (“Chrometco” or “the Company”) requested that Independent Resource Estimations (“IRES”) prepare a Competent Person’s Report (“CPR”) compliant with the South African Mineral Resource Code (SAMREC), incorporating a valuation (“the Valuation”) compliant with the South African Code for the Reporting of Mineral Asset Valuation (the SAMVAL Code), and finally compliant with all the requirements of Section 12 Listings Requirements of the Johannesburg (“JSE”) Listings Requirements, for their Rooderand Project. This CPR incorporates the Valuation completed by Venmyn Rand (Pty) Limited (“Venmyn”) entitled: “Independent Valuation in Accordance with the SAMVAL Code on the Rooderand Project for Chrometco” by Mr. Derick de Wit of Venmyn. Chrometco, a mining exploration and development company, acquired the Rooderand mining rights in 2004 and completed a limited amount of exploration. Chrometco subsequently entered into a conditional sales agreement to sell the said properties to DCM Chrome (Pty) Ltd. (“DCM”) in 2007.