Trading Summary – TSX Venture (January 21, 2004)

Canada’s junior exchange continued its midweek rally as advancing stocks edged out declining 449-to-440. The S&P-TSX Venture Exchange composite index tacked on 17.86 points, or 1.0% and closed at 1,813.12 with 99.6 million shares traded.

Vangold Resources tacked on 2 and closed at 77 with 2.17 million shares traded. The junior with partner New Guinea Gold have agreed to a revised offer to purchase 95% of the shares of privately held Kanon Resources registered in Papua New Guinea. Kanon holds a 100% interest in five gold properties: Bismarck, Mt. Penck, Mt. Allemata, Fergusson and Yup River and 50% interest in one copper-gold property, Mt. Nakru, also in Papua New Guinea.

Cantex Mine Development closed at 9.5, up a penny, on 1.56 million shares. The company recently collected 50 heavy mineral, 920 soil and 134 rock samples in northwest Yemen and shipped them to Canada for analysis. The results will be used to further define drill targets at the Al Masna’a nickel-copper- platinum project. Drilling is expected to commence in Yemen and Nevada once the company completes its $3 million financing.

IBI closed at 6, down a penny, with 1.48 million shares traded. The company recently established the Uganda Vermiculite Institute to expand the use of vermiculite in East Africa. The company owns and operates the Namekara vermiculite mine in Uganda.