NALG · North America Lithium & Gold Corp

Substantial doubt about the company's ability to continue as a going concern.

“As of June 30, 2006, there is substantial doubt regarding our ability to continue as a going concern as we have not generated sufficient cash flow to fund our operations. We have suffered recurring losses from operations and have not yet generated any revenue. As a result of these and other factors, our independent auditor has expressed substantial doubt about our ability to continue as a going concern.”