On December 30, 2015, Rubicon Fund Management (Jersey) Limited, investment manager to Rubicon Master Fund, sent a letter to White Mountain Titanium Corp. on behalf of Rubicon Master Fund in support of other stockholders requesting that the Company hold a special meeting for the purposes of (1) conducting a referendum on the management of the Company, (2) removing members of the Board of Directors of the Company, including the current Executive Chairman, (3) electing new Directors to fill vacancies on the Board, and (4) if necessary, to amend the by-laws of the Company in connection with any of the foregoing and provide written notice thereof to the common stockholders of the Company.