U.S. REPORT (June 15, 1992)

According to a recent agreement-in-principle, Pegasus Gold (TSE) will acquire 800,000 units of International Curator Resources (VSE) at 25 cents per unit for a total price of $200,000.

Each unit consists of one share and a share purchase warrant under which Pegasus may acquire an additional share at 31 cents.

The private placement also provides Pegasus right of first refusal on future financings and the eventual right to have two nominees to Curator’s board. Curator will have the first right to acquire properties that Pegasus wishes to dispose of, and the opportunity to bid on joint venture proposals. Curator will grant similar rights to Pegasus.