TSX Venture Short Positions (January 25, 2010)

Short positions outstanding at Dec. 31/09 (with changes from Dec. 15/09).

Largest short positions
Romarco Minerals R 4259500 24513
North American Gem NAG 1400000 1375000
Gold Wheaton Gold GLW 1100000 1100000
Galway Resources GWY 1082000 -251600
Great Western Minerals GWG 1004400 258888
Gleichen Resources GRL 947100 91500
Andina Minerals ADM 940800 57300
Terrane Metals TRX 817100 -135900
Explor Resources EXS 729543 288543
San Gold SGR 637800 -241930
Allana Resources AAA 564391 256000
Rare Earth Metals RA 547000 300700
Sandspring Resources SSP 541600 397100
Nebu Resources NBU 537556 256056
Metanor Resources MTO 487594 96094
Largest increase in short position
North American Gem NAG 1400000 1375000
Gold Wheaton Gold GLW 1100000 1100000
Sandspring Resources SSP 541600 397100
Threegold Resources THG 462840 390340
Rare Earth Metals RA 547000 300700
Largest decrease in short position
Manicouagan Minerals MAM 0 -2492000
Avion Gold AVR 1300 -1051200
Hawthorne Gold HGC 33000 -968049
Kodiak Exploration KXL 2000 -732000
Noront Resources NOT 407157 -695043
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