TSE SHORT POSITIONS (April 21, 1997)

Short positions outstanding at March 31, 1997

Larger individual positions included: Barrick Gold 11,735,236, up 691,564; AJ Perron Gold 376,400; Antares Mining & Expl 101,000, down 114,000; Anvil Range Mining 730,600; Bema Gold 4,445,550; Breakwater Resources 201,000; Bre-X Minerals 741,610, up 383,550; Cambior 116,600; Campbell Resources 2,358,035, up 115,935; Cameco 277,875, down 713,025; Cominco 317,700; Canadian Natural Resources 126,211; Dayton Mining 1,152,040, up 61,290; Dakota Mining 698,300; Eldorado Gold 1,153,700; Euro-Nevada Mining 1,093,896, up 560,806; Franco-Nevada 378,666, up 189,894; Goldcorp Cl `A’166,300; Geomaque Expl 365,725; General Minerals 113,900; Greenstone Resources 2,707,108; Inmet Mining 644,673, up 214,416; Indochina Goldfields 1,557,600, up 352,700; Kinross Gold 361,875, up 93,900; Kap Resources 132,817; Mineral Resources 662,818, up 662,818; Meridian Gold 678,300, down 135,500; Inco 5,263,037, down 325,601; Newstar Resources 107,000; Noranda 1,608,525, up 426,910; Novicourt 763,600, up 273,500; Nevsun Resources 110,000; Pacalta Resources 100,800; Placer Dome 2,531,943, up 283,618; Princeton Mining 1,628,000; Pure Gold Resources 250,000, down 50,473; Romarco Minerals 103,000, down 75,900; Rio Algom 206,513, down 133,362; SouthernEra Resources 130,600; TVX Gold 878,122; United Keno Hill Mines 501,700; Upton Resources 219,500; Vengold 577,700; William Resources 3,147,054; Yamana Resources 242,300.