Update on Bowie Resources Partners LLC

Update on Bowie Resources Partners LLC:

Discussions with Canyon Consolidated Resources LLC to acquire Galena Private Equity Resources Fund’s holding in Bowie Resource Partners LLC have concluded without a sale agreement due to current financial market conditions. Galena Private Equity Resources Fund remains the majority owner of Bowie Resource Partners LLC. The mines continue to deliver a strong performance and the focus remains on serving our clients in the domestic and export markets, productivity, debt repayment and maintaining high safety standards.