At 48 pages, 43 are the content.
This issue's contents are:
Elvish ancestry (generating Elven forebears for your PC).
Welcome Guests (a scenario).
Calendar and weather details for the Northern Realm.
Beastling descriptions (random charts to describe the troops of The Enemy).
Runes of Power (more magical items).
There are also 4 amps included in a separate folder.
The cover is very nicely done.
At £.14/$2.99, it's worth a look.