Troymet Exploration Corp.

Published : January 16th, 2008

Tax Rollover Election Reminder to Former Signet Shareholders

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Re:        News Releases - Wednesday, January 16, 2008
Title:     Tax Rollover Election Reminder to Former Signet Shareholders

On August 7, 2007, a Plan of Arrangement was completed between Signet Minerals Inc. ("Signet"), Cash Minerals Ltd. ("Cash Minerals") and Troymet Exploration Corp. ("Troymet"). In accordance with the Plan of Arrangement, for every one (1) Signet common share held, Signet shareholders received 0.67 Cash Minerals common shares, 0.50 Cash Minerals share purchase warrants and 0.25 Troymet common shares.

Former Signet shareholders are reminded that a joint tax election form must be completed in order to defer any potential capital gains taxes resulting from the issuance of the Cash Minerals common shares pursuant to the Plan of Arrangement until such time that the Cash Minerals common shares are sold. Failure to complete the tax election form may result in a capital gains income tax liability in 2007. The tax election form, which can be obtained at the Cash Minerals website (www.cashminerals.com/userfiles/file/Tax_Package-AcquisitionofSignetMinerals.pdf), must be completed and received by Cash Minerals on or before January 31, 2008.

In order to complete the tax election form, former Signet shareholders will need to calculate the Adjusted Cost Base ("ACB") of their Signet shares. For former Signet shareholders that received all or part of their Signet shares as a result of the Plan of Arrangement that was completed between Marksmen Resources Ltd. ("Marksmen") and Signet in October 2005, a letter that outlines how to apportion the ACB of the Marksmen and Signet shares can be found on the SEDAR website for Marksmen (February 23, 2006 document). For all other Signet shareholders, a letter disclosing information in respect of the ACB calculations for Troymet, Signet, and Cash Minerals is attached.

We highly recommend that shareholders consult their tax advisors.

If you have any questions regarding the completion of the tax election form, Cash Minerals has established a Technical Assistance Hotline at 1-866-421-3763.

For further information, contact:
Brian Cebryk, Chief Financial Officer
Troymet Exploration Corp.
(250) 890-0607
bdcebryk@shaw.ca

January 15, 2000
Former Shareholders of Signet Minerals Inc.

Dear Shareholder,

Determination of Adjusted Cost Base

The purpose of this letter is to provide general assistance in determining the adjusted cost base of the Cash Minerals Ltd. ("Cash Minerals") shares and warrants and Troymet Exploration Corp. ("Troymet") shares received by you pursuant to the Plan of Arrangement dated August 7, 2007.

As noted in our Circular dated July 10, 2007 on page 42, this information is of general nature only and is not exhaustive so you should consult your own tax advisors.

Calculation of the Adjusted Cost Base of Troymet Shares

Each Troymet share distributed by Signet Minerals Inc. ("Signet") to its shareholders had an adjusted cost base of $0.09752307. Please be aware that the adjusted cost base of the Signet shares you held at the time of the distribution of the Troymet shares will be reduced by this amount multiplied by the number of Troymet shares you received. If this amount is greater than the adjusted cost base of your Signet Shares at the time of the distribution, you will have realized a capital gain equal to the difference. We recommend that you verify the adjusted cost base of your Signet Shares with your tax advisor.

Calculation of the Adjusted Cost Base of Cash Mineral Shares

On the exchange of your Signet Shares you received 0.67 of a Cash Mineral share and 0.50 of a Cash Mineral Warrant. If you choose to elect under section 85 of the Income Tax Act (Canada) (the "Act"), the adjusted cost base of your Cash Mineral Shares will be equal to the "agreed amount" (sometimes referred to as the "elected amount") set out in your election form.

For more information on the calculation of the "agreed amount" please see page 16 of the Tax Package for Signet Shares distributed by Cash Minerals Ltd. (available at http://www.cashminerals.com/main/?investors&PHPSESSID=646612a062c3915a722a35fd688d709c).

If you decide not to file an election under section 85 of the Act, the adjusted cost base of the Cash Mineral shares you received will be equal to the fair market value of the Signet Shares you exchanged at the time of the Arrangement less the fair market value of the Cash Warrants you received.

Assume, for example, that you held 1,000 Signet shares. Upon the completion of the arrangement you would have received 670 Cash Mineral Shares and 500 Cash Mineral Warrants.

At the time of the Arrangement Signet was trading at $0.70 per share. If we assume this was the fair market value of Signet Shares, the adjusted cost base of the Cash Mineral Shares received in the above example would be calculated as follows:

Fair Market Value of Signet Shares = $700.00
less
Fair Market Value of the Cash Mineral Warrants = $5.00
equals
Adjusted Cost Base of Cash Mineral Shares = $695.00 (or $0.695 per share)

Please be aware that the above example assumes that the fair market value of a Cash Mineral Warrant at the time of the arrangement was $0.01. However, while this was the value agreed to by Signet and Cash Minerals, it is not necessarily binding on the Canada Revenue Agency.

We hope the above summary provides you with the assistance you require.

Copyright © 2008 TROYMET EXPLORATION CORP. (TYE) All rights reserved. For more information visit our website at http://www.troymet.com/ or send email to info@troymet.com ..
Message sent on Wed Jan 16, 2008 at 12:19:27 PM Pacific Time
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Troymet Exploration Corp.

EXPLORATION STAGE
CODE : TYE.V
ISIN : CA8977731071
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Troymet is a silver and gold exploration company based in Canada.

Its main exploration properties are MCCLARTY LAKE, KEY, WHEATCROFT and GOLDEN EAGLE in Canada.

Troymet is listed in Canada. Its market capitalisation is CA$ 609 281 as of today (US$ 452 325, € 397 720).

Its stock quote reached its highest recent level on November 26, 2010 at CA$ 0.41, and its lowest recent point on June 28, 2019 at CA$ 0.01.

Troymet has 121 856 225 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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Financings of Troymet Exploration Corp.
9/18/2013Cancels Private Placement
9/26/2011s Exploration Programs
8/19/2011Closes $1,844,850 Private Placement
7/29/2011Increases Private Placement to $1,500,000
12/8/2009Announces $500,000 Private Placement
7/9/2008Completes $1,300,000 Unit Private Placement
Project news of Troymet Exploration Corp.
3/25/2015(Key)Reports: New Gold Completes Expenditure Commitment on the Ke...
3/19/2015(Mcclarty Lake)Announces That McClarty Lake JV Identifies New VMS Targets
12/11/2013(Key)Completes Sale of Key Property
11/19/2013(Key)Signs Agreement to Sell Key Property
4/15/2013(Mcclarty Lake)Reports on the 2013 Drill Program at McClarty Lake Project
1/14/2013(Key)Reports Assays From Key Project
1/14/2013(Key)Reports Assays From Key Project
11/8/2012(Key)Completes Drilling on Key Project
10/4/2012(Key)Mobilizes Drill to the Key Project
9/18/2012(Key)Resumes Exploration & Schedules Drilling on Key Project
8/14/2012(Mcclarty Lake)& Hudbay Sign Joint Venture Agreement on McClarty Lake Proje...
7/24/2012(Key)s Progress and Expands Program at Key Gold Project
5/29/2012(Key)Initiates Exploration Program on Key Project
3/1/2012(Key)Focuses on Key Project
2/16/2012(Golden Eagle)Intersects 1.27 g/t Gold over 36.45 metres at Golden Eagle
1/12/2012(Mcclarty Lake)s Exploration Progress at McClarty Lake
11/30/2011(Golden Eagle)Completes Drilling at Golden Eagle
10/12/2011(Golden Eagle)Mobilizes Drill to Golden Eagle Project
6/13/2011(Key)Completes Phase I Exploration on Key Project
6/6/2011(Mcclarty Lake)Reports HudBay Earnback Complete on McClarty Lake Project
4/5/2011(Key)s Drill Program on Key Project
3/30/2011(Mcclarty Lake)Optionee HudBay Drilling at McClarty Lake
3/3/2011(Key)s Drill Programs at Key & McClarty Lake Projects
2/15/2011(Mcclarty Lake)Drilling at McClarty Lake
2/10/2011(Key)Drilling on Key Property
6/21/2010(Key)Confirms Regional Structures on Key Project
6/10/2010(Key)Identifies Structures on Key Project
5/20/2010(Key)Mobilizes Crews to Key Project
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4/13/2010(Key)to Drill on Key Project
3/8/2010(Mcclarty Lake)Confirms VMS Target on 100% Owned McClarty Claims
2/17/2010(Golden Eagle)Confirms New Gold Targets
1/28/2010(Mcclarty Lake)Commences Winter Program
1/14/2010(Mcclarty Lake)Winter Program
12/21/2009(Golden Eagle)Identifies 9 New Target Areas
10/2/2009(Golden Eagle)Mobilizes Drill
10/21/2009(Golden Eagle)Completes Drilling
11/6/2009(Mcclarty Lake)Plans to Drill the Mac Target
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2/28/2008(Mcclarty Lake)Drilling Underway at McClarty Lake VMS Project
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4/26/2016Troymet Commences Induced Polarization Survey at Redhill
4/4/2016Troymet Starts Field Program at Redhill
1/20/2016Renaissance Gold Exploration Update
1/19/2016Troymet Targets the Core Area at Wildcat
12/15/2015Troymet’s Joint Venture Partner Plans Ground Geophysics at M...
12/15/2015Troymet's Joint Venture Partner Plans Ground Geophysics at M...
11/24/2015Troymet Targets the Rattler Breccia at Wildcat
10/29/2015Troymet Identifies New Copper and Gold Soil Anomalies at Red...
10/20/2015Troymet Identifies Significant Copper and Gold Soil Anomalie...
10/7/2015Troymet Reviews Initial Drill Targets on Alpha Zone
9/16/2015Troymet Completes Redhill Field Program
8/20/2015Troymet Shareholders Approve All Matters at AGM
7/27/2015Troymet Updates Wildcat SE Target Area Progress
7/14/2015Troymet Appoints New Auditor
7/9/2015Troymet Options Redhill Project From Homegold
3/19/2015Troymet Announces That McClarty Lake JV Identifies New VMS T...
2/23/2015Troymet Options Wildcat Project from Renaissance Gold
1/16/2015Troymet Grants 1.35 Million Stock Options
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8/20/2014Troymet Announces Corporate Update
7/18/2014Troymet Shareholders Approve All Matters at AGM
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5/13/2014Troymet Announces the Resignation of Brian Cebryk as CFO of ...
4/28/2014Troymet Announces Adoption of Advance Notice By-Law
2/19/2014Provides Corporate Strategy Update
6/14/2013(Mcclarty Lake)Receives Assays from Hudbay for McClarty Lake
4/19/2013Shareholders Approve All Matters at AGM
3/25/2013Files AGM Materials and Announces AGM Matters
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7/10/2012(Golden Eagle)Files NI 43-101 Technical Report for Golden Eagle Gold Proje...
6/12/2012(Key)Files NI 43-101 Technical Report for Key Gold Project
1/19/2012(Key)Identifies Large Geochemical Soil Anomalies and Additional D...
5/9/2011(Key)Intersects Porphyry Style Mineralization on Key Project
4/11/2011(Mcclarty Lake)Identifies Extension of Discovery Horizon at McClarty Lake P...
1/25/2010Update on Status
2/23/2010Expands Geophysical Survey at McClarty
1/23/2010Completes $500,000 Financing
8/11/2009s Activities
9/4/2008Extends Tannis Zone at Golden Eagle Project
8/7/2008Commences Drilling at Golden Eagle Project
8/1/2008Provides Operational Update
1/16/2008Tax Rollover Election Reminder to Former Signet Shareholders
9/26/2007Announces Base Metal Discovery at McClarty Lake VMS Project
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