Clarification (July 02, 1990)

The Northern Miner issue of June 18, 1990, referring to a report published by the Ontario Securities Commission, said two executives of MSV Resources (ME), Mario Caron and Pierre Boudreault, purchased MSV shares before the drilling results of an associated company, VSM Exploration (ME), were announced. In fact, Caron and Boudreault had agreed to acquire the MSV shares from Northgate Exploration (TSE) in January and a public filing of the transaction was made to the OSC in April, before VSM’s drilling had begun.