FINANCING (July 15, 1991)

Pegasus Gold Inc. – 3,000,000 com shs and 1,000,000 wts to purch com sh in units offered @ $15.50 per unit.

Teck Corporation – 4,300,000 units consisting of 1 Cl B subordinate voting sh and 1/2 wt offered @ $23.25 per unit in Canada; additional 2,250,000 units offered in Europe.

Fairfield Minerals Ltd. – 500,000 non-flow-through units consisting of 1 non-flow-through-sh and 1 non-flow-through series A sh purch wt offered @ $1.16 per unit. Also 500,000 flow-through units consisting of 1 flow-through shs and 1 flow-through series A sh purch wt offered @ $1.16 per flow-through unit.