GENERAL EXPLORATION

The long-term exploration programme in northern British Columbia and the Yukon Territory
of selected areas was continued. No showings of economic interest were found. An investigation of
other areas will be undertaken in 1970. Work on the silver, lead, zinc claims northeast of Watson Lake
in the Northwest Territories under option to Conwest Exploration Company Limited disclosed nothing
of commercial interest and the option was dropped.

RESEARCH

The research programme is continuing and has proven of considerable value in keeping the
company abreast of new developments.

LABOUR

The collective bargaining agreement between the Company and the United Steelworkers of
America Local 6536, Cassiar, B.C., Local 564, Clinton Creek, Y.T., and Local 925, Whitehorse, Y.T.
expires September 30, 1970.

ACKNOWLEDGEMENTS

The co-operation received from the Alaska Government, the Alaska Railroad and others involved
in providing temporary alternate shipping facilities for a portion of the Clinton Mine fibre during the
fall and early winter season is gratefully acknowledged. This assistance was a substantial factor in
averting a shut-down of the operation.

The close working relationship with the White Pass and Yukon Route, which has been developed
over the years, once again proved most helpful.

The directors also express their appreciation to the staff and employees of all divisions for their
loyalty and effort in achieving the scheduled objectives.

On Behalf of the Board,

F. M. CONNELL, J. D. CHRISTIAN,
Chairman. President.

Toronto, Canada,
March 16, 1970.

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