FINANCING (August 09, 1993)

Kettle River Resources Ltd. Private placement of 75,000 units @ $16.00 and each unit consists of sh and wt.

Aztec Resources Ltd. 1,400,000 shs @ $2.90. Exall Resources Ltd. 3,720,000 units @ $1.50 per special wt and each unit consists of sh and sh purchase wt, issuable upon the exercise of special wt. TVX Gold Inc. 83,103,392 shs @ $4.65 (National issue Ontario). Crown Butte Resources Ltd. 717,800 shs and 358,900 sh purchase wts issuable upon the exercise of special wts @ $6.10 per special wt.

Hycroft Resources & Development Corp. 10,500,000 shs issuable upon special wts at $1.04 per special wt.

Echo Bay Mines Ltd. 2,000,000 shs (excluding U.S.) and 4,000,000 shs (excluding Canada) @ $16.875.