FINANCING (July 13, 1992)

International Brace Res Inc. – 900,000 units consisting of 1 sh and 2 wts offered @ 54 cents per unit..TDRT Res. Ltd. – 1,000,000 shs offered @ 16 cents per sh.Swannell Minerals Corp. – 2,250,000 shs offered @ 40 cents per sh.Vananda Gold Ltd – 300,000 shs offered @ 75 cents per sh.Waseco Res Inc. – 675,000 shs offered @ 42 cents per sh.Chase Res. Corp. – 1,300,000 units offered @ $2.50 per unit..N10.HGOLD FUNDS.CGold Funds as of July 7.L BGR Central.TNet Value $8.27 $5.15Price $6.75 $4.75Discount 18.42% 7.80%Value $49,263,000 $79,915,425.N10.HTORONTO STOCK EXCHANGE INDICES.L Jul y 7 July 6 July 3 July 2 July 1 High LowComposite”300″ 3416.29 3426.91 3420.14 3408.14 N/A 4009.47 3009.91Metals&Minerals 3161.97 3168.98 3201.74 3188.60 N/A 3453.06 2502.63Integrated Mines3371.21 3378.37 3417.62 3403.82 N/A 3603.98 2625.51Metal Mines 1862.57 1841.30 1848.39 1848.7 N/A 2710.86 1581.29Non-Base Mtl Mng1426.97 1438.76 1443.39 1434.37 N/A 1709.45 1033.66Gold & Silver 5079.86 5109.42 5085.78 5034.89 N/A 8095.66 4248.47.N11