FINANCING (June 20, 1988)

ONTARIO

Golden Penguin — final rec iss offer 1,000,000 @ $1.60 per sh.

Home Lake — final rec iss offer 500,000 @ $1 per sh. VANCOUVER

Armanda Gold — gross proceeds rec $165,000.

Rat Res — gross proceeds rec $150,000.

Approach — gross proceeds rec $210,000.

Kelan — 700,000 sold for gross $194,250.

Napoleon — 900,000 sold for gross $540,000.

Newgate — 600,000 sold for gross $210,000.

Anthony — 700,000 sold for gross $280,000.

Allure Ind — 800,000 sold for gross $496,000.

Apex Egy — 400,000 sold for gross $128,000.

Balance — opt exerc on 92,500 @ 40} per sh.

Bay — opt exerc on 75,000 @ 40} per sh.

Bunker Hill — opt exerc on 450,000 @ $2.565 per sh.

Cons Goldwest — 450,000 sold for gross $180,000.

Kalahari — 400,000 sold for gross $160,000.

Meridor — 600,000 sold for gross $540,000.

Glider — 500,000 offered @ 50} per sh.

Int’l Baron — 750,000 offered @ 65} per sh.

Lancer — min 400,000 offered @ 35} per sh.

Riggins — gross proceeds rec $150,000.

Winspear — 450,000 offered @ 35} per sh.


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