FINANCING (December 13, 1993)

Euro-Nevada Mining — 1.1 million units consisting of sh and purchase wt @ $38 per unit.

Equinox Resources — 3 million shs to be issued upon exercise of 3 million special wts. Each unit consists of one common sh and one-half of common sh purchase wt @ $3 per special wt.

Lucas Gold Resources — 300,000 min shs, 800,000 max Series B pref shs @ $1.50.