VenCan Gold is engaged in the acquisition, exploration and development of properties for the purpose of producing precious metals, and has not yet determined whether the properties contain reserves that are economically recoverable. The recoverability of the amounts shown for mining properties and exploration expenditures deferred is dependent, among other things, upon: the existence of economically recoverable reserves; the ability of Co. to obtain the necessary financing to complete exploration and development and upon future profitable production or proceeds from disposition of such properties.
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