Metalore Resources Limited - s. 6.1 of OSC Rule 13-502 Fees

Headnote

Issuer exempt from paying portion of late fee in connection with late filing of financial statements.

Statutes Cited

Securities Act, R.S.O. 1990, c. S.5, as am.

Rules Cited

Ontario Securities Commission Rule 13-501 Fees.

IN THE MATTER OF

THE SECURITIES ACT,

R.S.O. 1990, C.S.5, AS AMENDED

AND

ONTARIO SECURITIES COMMISSION

RULE 13-502 FEES (the Fee Rule)

AND

IN THE MATTER OF

METALORE RESOURCES LIMITED

EXEMPTION

(Section 6.1 of the Fee Rule)

WHEREAS the Director has received an application from Metalore Resources Limited (the Applicant) for a decision pursuant to section 6.1 of the Fee Rule, exempting the Applicant from the requirement to pay a portion of a late fee (the Late Fee) required by Appendix C to the Fee Rule;

AND UPON considering the Application and the recommendation of the staff of the Ontario Securities Commission;

AND WHEREAS the Applicant has represented to the Director that:

1. The Applicant is incorporated under the laws of the Province of Ontario and maintains its registered and head office in Vittoria, Ontario.

2. The Applicant is a reporting issuer in Ontario and is currently not in default under any provision of the Act or the rules and regulations made under the Act, except for failing to pay a portion of the Late Fee.

3. The Applicant's common shares are listed on the Toronto Stock Exchange (the TSX) and the Applicant is not in default of any requirements of the TSX.

4. Under section 4.2 of National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102), the Applicant was required to file its annual audited financial statement within 90 days of March 31, 2006 (the 2006 Annual Statements).

5. The Applicant did not file the 2006 Annual Statements within the timeframe required by NI 51-102 due to unique circumstances.

6. Pursuant to Appendix C of the Fees Rules, the Applicant is required to pay a late fee in respect of the late filing of the 2006 Annual Statements.

AND UPON the Director being satisfied that to do so would not be prejudicial to the public interest;

IT IS THE DECISION of the Director, pursuant to section 6.1 of the Fee Rule, that the Applicant is exempt from paying $1,078 of the Late Fee incurred in connection with late filing of the 2006 Annual Statements, provided that the Applicant pays the remaining portion of the Late Fee.

DATED at Toronto on this 18th day of August, 2006.