Trading Summary (December 31, 2002)

Toronto’s gold stocks added 1.92 points or 0.97% to their value as the yellow metal climbed US$3.90 to US$347.50 per oz. in New York on the last day of 2002. The Diversified Metals & Mining Index slipped 0.32 of a point to 130.72. The S&P/TSX Composite Index lost 3.01 points, or 0.05%, and closed at 6,614.54 on a volume of 120 million.

Kinross Gold was the resource market’s volume leader with 3.1 million shares traded. The company closed at $3.07 up 0.78.

Eldorado Gold was not far behind closing at $2.07, up 0.07 with 2.6 million shares crossing the floor. The company continues to develop its Kisladag gold project in Turkey.

McWatters Mining closed up a penny to 26 on 2.5 million shares. The company recently reported its first gold pour at the newly expanded Sigma-Lamaque open-pit mine, near Val-d’Or, Que. Milling resumed at the mine on Nov. 27, after an expansion of milling capacity from 3,000 tonnes to 5,000 tonnes per day. Currently running through ore at 3,000 tonnes per day, the operation is expected to hit 5,000 during the final quarter of 2003.

Echo Bay Mines tacked on 2 and closed at $1.96 on 2.0 million shares.

Junior gold explorers continued to drive Canada’s junior exchange higher as advancers pummeled decliners 418-to-222. The S&P-TSX Venture Exchange composite index jumped 26.76 points or 2.56%, and closed at 1,074.08, on a volume of 37 million shares.

Coral Gold rebounded from yesterday’s dip adding 11 to its value and closing at 64 on 2 million shares. Coral has a rig turning on the property that adjoins the Pipeline gold mine in Nevada.

ECU Silver Mining closed flat at 9 with 957,950 shares traded. The company holds the Valardena property in Mexico. The project has a total resource of 2.5 million tonnes grading 2.8 grams gold and 269 grams silver.

International Wayside Gold Mines closed at 17 down 3 on 645,138 shares. The company recently announced a non-brokered private placement of flow through and non-flow-through units for a total of 2 million units at the price of $0.12 per unit. The company intends to use the proceeds of the flow-through units for exploration at its Cariboo Gold project at Wells, B.C. The proceeds from the non-flow-through units will be used for working capital.

Desert Sun Mining lost 6 and closed at 82 with 452,607 shares traded. The company recently identified extensions of favourable rock units immediately north of its extensive Jacobina holdings. As a result, it has applied for an additional 105 sq. km in exploration licenses in the Brazilian state of Bahia.