TSX Venture Short Positions (January 19, 2009)

Short positions outstanding at Dec. 31/08 (with changes from Dec. 15/08).

Largest short positions
Rusoro Mining RML 1312500 1208000
Westernzagros WZR 1127439 -1472
Fortuna Silver FVI 650000 -154750
Bravo Venture BVG 622765 317765
Nevada Exploration NGE 400000 -23000
Alturas Minerals ALT 316333 113333
First Gold EFG 287500 287500
Gold Wheaton GLW 268000 1158300
Int’l Tower Hill ITH 237700 -94451
Whitemud WMK 217286 -27221
Cloudbreak Resources CDB 200000 200000
Anooraq ARQ 179900 92600
Constellation Copper CCU. H 170000 0
Victoria Gold VIT 152000 -196100
Exeter Resource XRC 147884 32021
Largest increase in short position
Rusoro Mining RML 1312500 1208000
Bravo Venture BVG 622765 317765
First Gold EFG 287500 287500
Cloudbreak Resources CDB 200000 200000
Ecometals EC 140000 140000
Largest decrease in short position
Sterling Resources SLG 0 1176100
Gold Wheaton GLW 268000 1158300
St. Elias Mines SLI 0 -522000
Forum Uranium FDC 0 -264000
Mano River Resources MNO 10000 -240000
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