FINANCING (August 24, 1992)

Arrowhead Res. Ltd. – 4,000,000 shs offered, with 2,000,000 shs guaranteed and 2,000,000 shs on a Best Efforts basis @ 20 cents per sh.

Sundance Res. Ltd. – 2,200,000 shs offered, with 200,000 shs guaranteed and 2,000,000 shs on a Best Efforts basis @ 20 cents per sh.

Yellow Point Mining Corp. – 1,800,000 shs offered, price to be announced but fixed at not more than 10% below market price.