| THE SECURITIES ACT | ) |
Order No. 5483 |
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| Section 148 | ) |
September 25, 2007 |
Peterson Red Lake Mines Ltd.
WHEREAS:
(A) Peterson Red Lake Mines Ltd. (the "Issuer") is subject to the requirements of Part XII of The Securities Act (Manitoba) (the "Act") and National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”);
(B) The Issuer has a financial year end of August 31;
(C) The Issuer has failed to file with The Manitoba Securities Commission (the"Commission") a copy of its Annual Financial Statements for the Year ended August 31, 2006 as required by Order No. 2397 on January 6, 1999;
(D) On the basis of the foregoing, I am of the opinion that it is in the public interest that trading in the securities of the Issuer should cease forthwith for a period of fifteen days and I am further of the opinion that the holding of a hearing would cause a delay which would be prejudicial to the public interest.
I HEREBY ORDER under a delegation to me by the Commission under subsection 4(1) of the Act of the powers in that behalf:
1. THAT, under section 148(1) of the Act, trading in the securities of the Issuer shall cease forthwith for a period of fifteen days from September 25, 2007 to October 9, 2007, both dates inclusive, or until such earlier date as:
(a) the Issuer files its Annual Financial Statements and Annual MD&A for the Year ended August 31, 2006 as required by Part XII of the Act and NI 51-102 and pays all outstanding filing fees, if any, to the Commission; and
(b) the Issuer submits a written request to the Commission to have this order revoked.
| "R. B. Bouchard" DIRECTOR |