AlphaNorth 2010 Flow-Through LP

Investment Objective and Strategy:

The investment objective of the AlphaNorth 2010 Flow-Through LP is to provide its limited partners with a tax assisted investment in a diversified portfolio of flow-through shares of resource companies with a view to (i) maximizing the tax benefit of an investment in the units, and (ii) achieving capital appreciation for its limited partners. The principal business of the resource companies will be: (i) mineral exploration, development and production, (ii) oil and gas exploration development and production or (iii) certain energy production that may incur certain start-up phase costs of renewable energy projects. The LP's principal strategy is to invest primarily in flow-through shares of junior and intermediate resource companies that, in the opinion of the manager, have experienced and capable senior management, well-planned exploration programs, and potential for future growth, where such flow-through shares can be acquired at attractive prices.

Please refer to the prospectus for specific details of the LP.

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