FINANCING (July 17, 1989)

Goldhill Res — gross proceeds rec $392,000.

Pars Res — gross proceeds rec $230,000.

Arnica Res — gross proceeds rec $280,000.

Brockton Res — gross proceeds rec $225,000.

Gatrow Res — gross proceeds rec $200,000.

Grizzly Creek Res — gross proceeds rec $249,375.

Cons Heron — 600,000 offered @ 40 cents per unit.

Liberty Gold — gross proceeds rec $176,000.

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