Cosigo shareholders,

We continue to experience very challenging times for the exploration and mining industry.

Our last drilling results and their interpretation indicate that the Machado Project contains widespread and strata-bound gold mineralization. There is little doubt that these results indicate the potential for a very large deposit.

Recent talks with Colombian government ministries have led us to believe that we now have the ability to explore and drill in all areas of our 10,000ha Machado Project. This is quite unlike the 2013 drill program, which as you probably recall, was restricted to a very limited area at the center of the property. The continuing exploration program however, requires additional funding. We are considering both equity and asset financing options. We are pursuing all opportunities and leads.

In Brazil, we continue to work with the State Governor's office to allow a pilot project of exploration and drilling of similar widespread and strata-bound gold mineralization in Native areas where Cosigo has signed exclusive rights agreements with the Native groups.

As you will be aware, the FIFA games in Brazil have curtailed most of the other business activity for this and the following month.

The Directors, Management and some staff of Cosigo have worked without compensation for the last half year while they continue to ensure that the company maintains its listing on the Venture Exchange, its legal rights to all property assets, and continues to develop relationships in South America. These are our immediate high priority objectives.

To this end, we will likely be proposing a small private placement with a full warrant at the current market prices. If any of the shareholders would like to participate in this placement, please contact me at dwmilburn@cosigo.com to enquire about your eligibility to participate. In response to the challenging market conditions, a new exemption has recently been introduced by the British Columbia Securities Commission for shareholders from British Columbia. The exemption allows existing BC shareholders to buy up to $15,000 worth of units in private placements. Shareholders from the United States and other provinces will still have to meet the sophisticated and accredited investor requirements. Colombian and Brazilian shareholders will also be able to purchase private placement units without restrictions.

On behalf of our Directors and Management, I appreciate your continued patience and support as we work to explore and define one of the potentially largest underexplored gold districts in the world: The Taraira Gold Belt.

Sincerely,

Dennis W. Milburn
President and CEO

Cautionary Notice: This letter may contain forward-looking statements regarding the Company's business or financial condition, including the proposed completion of financings, use of proceeds and exploration programs. Actual results could differ materially from those described in this letter as a result of factors, including, but not limited to the following: the timing and completion of financings, the actual use of proceeds, the timing, results and success of exploration and development programs, financial arrangements, the ability to obtain additional financing, developments in global resource markets, political developments, the timing of regulatory and environmental approvals and other factors. The Company cautions that these and similar statements involve risk and uncertainties, which could cause actual results to differ materially from those in the forward looking statement. Forward--looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
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