Canada Carbon is a development stage company and is in the process of exploring its mineral properties and has not yet determined whether the properties contain reserves that are economically recoverable. The recoverability of the amounts shown for mineral properties and related deferred exploration costs are dependent upon the existence of economically recoverable reserves, Co.'s ability to obtain necessary financing to complete the development of those reserves, the achievement of profitable production, or alternatively upon Co.'s ability to dispose of its interests on an advantageous basis.

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