Investor Relations Agreement

revised the Investor Relations Advisory Agreement („Revised Investor Relations Agreement“) announced on August 1, 2010 with Martin Tremblay. Pursuant to the revised terms of the Investor Relations Agreement, Mr. Tremblay will continue to provide investor relations services to Clearford, which will include developing a shareholder communications strategy for the company, communicating with potential institutional dealers and investors, and promoting Clearford`s corporate image, all on an expanded basis for a monthly retainer of $15,000. Mr. Tremblay`s option to purchase 100,000 common shares of Clearford at an option price of $0.20, as announced on August 31, 2010, remains unchanged and expires on August 31, 2015. The revised Investor Relations Agreement applies monthly until terminated by one of the parties.