To the knowledge of the directors and officers of the Company, the following nominee together with
associates as defined by the Ontario Securities Act and the Canada Corporations Act holds 10% or more of
the issued and outstanding shares of the Company.

I. F. T. Kennedy
Associates:

Conwest Exploration’ Company Wimited == 5) 1) en se 550,100

350,101

Remuneration of Officers and Directors
The aggregate direct remuneration paid by the company during the year ended December 31, 1973:—

Moethestourteenedirectorsrese sey ee es eae ee eerie $ 19,975
To the seven officers of whom five are directors ..............:..-...-+---. 196,415
To three others, deemed officers pursuant to the Ontario Securities Act ........ 87,500

$ 303,890

The aggregate cost to the company during the year ended December 31, 1973, with respect to all
pension benefits proposed to be paid in the event of retirement at normal retirement age (65 years) :—

IReadirectorss andl orhicersiee me oe es ee ee ee ee ee ea $ 25,256
Re three others, deemed officers pursuant to the Ontario Securities Act ........ 11,586
$ 36,842

In consideration of the President contracting to continue his services to the Company to retirement,
the Company is providing for additional pension benefits, the cost of which for the year under review and the
annual cost thereafter to December 31, 1980, is $3,886 per annum.

Appointment of Auditors

It is proposed that Clarkson, Gordon & Co., Chartered Accountants, the present Auditors, be
re-appointed as auditors of the Company, to hold office until the next Annual Meeting of shareholders at a
remuneration to be fixed by the board of directors of the Company. Clarkson, Gordon & Co. have been the
auditors of the Company since its inception.

Other Business

The management is not aware of any matters to be presented for action at the meeting other than
those listed in the notice of meeting. However, if other matters properly come before the meeting, it is the
intention of the persons named in the accompanying instrument of proxy to vote the said proxies in accordance
with their best judgment on such matters.

By Order of the Board of Directors,

C.R. ELLIOTT,
Secretary.

DATED March 18, 1974,
Toronto, Canada.

PAGE NINE