FINANCING (August 19, 1991)

Canarc Resource Corp. – 900,000 units (600,000 of which are guaranteed.) consisting of 1 sh and 1 wt offered @ $1.40 per unit.

Butter Rock Resources Inc. – 600,000 shs offered @ 40 cents per sh. Galico Resources Inc. – 500,000 units consisting of 1 sh and 2 wts offered @ $1.85 per unit.

Galleon Mining Limited – 300,000 shs offered @ 35 cents per sh, also 400,000 flow-through shs offered @ 45 cents per sh.

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