PHASE ONE

Phase One, buildings 'E' will consist of three (3) two story duplex condominiums, each containing two full hotel-service Chalets, each with two or three bedrooms. The footprints will be approximately 38' x 38' each. Together, the three 'E' buildings total 8,500+ square feet of floor space. Each Chalet will be carefully sited to preserve as much of the existing spruce forest and other natural elements as possible. Construction will be undertaken with a view to minimizing the adverse environmental effects. The surrounding grades and natural drainage paths will not be materially disturbed. The buildings are proposed to be of Type V B construction and will have an automatic sprinkler system and fire alarm system throughout. Contingent on building permits, other approvals and presales, construction is scheduled to commence in June 2007.