ante ee Page 10 Cassiar Courier April 1989 TOTAL Energold Financial Results Vancouver, B.C., February 23, 1989 - TOTAL Energold Corporation released today its financial results for the year ended December 31, 1988. The results reflect the pooling of interest of Getty Resources Limited and Total Erickson Resources Ltd., as well as the consolidation of Ranch- men’s Resources Ltd. since July 1, 1988, and of Consol- idated Trans-Canada Resources Ltd. since November 1, 1987. Net loss for the year was $14.9 million, compared to a profit of $3.5 million in 1987. After unusual items and income tax recovery, final net loss was $47.2 million, compared to a net loss of $7.1 million in 1987. Unusual items in 1988 consist primarily of a $34 million write-down of mineral properties, reflecting im- pairment of economic profitability of the company’s two producing gold mines. As previously announced, the Mount Skukum Gold Mine suspended operations in early August, 1988, due to a shortage of economic reserves, and the Erickson Gold Mine ceased milling operations three months later. Exploration activity is continuing at both properties, and a 2.5 kilometre adit to access the high grade reserves at Erickson’s Michelle Zone has been started. Combined oil and gas production in 1988 at Ranch- men’s and Consolidated Trans-Canada was 3,617 barrels of oil per day versus 3,492 barrels per day in 1987, and 21.1 million cubic feet of gas per day versus 18.1 million cubic feet per day in 1987. Operating Earnings from oil and gas operations in 1988 were 9.0 million, reflecting six months’ full consolidation of Ranchmen’s and Con- solidated Trans-Canada, versus $ 0.9 million in 1987 reflecting two months’ full consolidation of Consolidated _ Trans-Canada alone. Gold production in 1988 for the Company’s account was 21,956 ounces versus 53,245 ounces in 1987. Operating loss from mining in 1988 was $1.7 million, versus operating earnings of $14.5 million in 1987. Following the 1988. write-downs, the Company is in a liquid financial condition.with a sound core of assets and no long term debt. Its primary assets include: - Current -assets of $38 million including cash and liquid investments of $26 million; - Oil and gas proven and probable reserves of $119.5 million carrying value; - Mining assets of $47.9 million carrying value, compris- ing: - 100% interest in the Erickson Gold Mine, its 300 tons per day mill, the high grade reserves on the Michelle Zone. currently being accessed by: a 2.5 kilometre adit, and the exploration potential of the property; - 37% interest in Mount Skukum Gold Mine, includ- ing its 300 tons per day mill and the exploration potential of the property; - 49% interest in the Tundra joint venture (Noranda operator), carried on the Company’s post-pooling books at $10.7 million although at current esti- mates the Company’s share of in-ground ore is 3.2 million ounces of gold; and - a diversified portfolio of prospective exploration projects generated since 1985 in Western and Eastern Canada, Nevada and, more currently, Idaho. Net book value after 1988 results and write-downs is $133.6 million, or $5.03 per share. Its a real holiday. The CASSIAR COURIER is available in Watson Lake ~ beeeces * SEVS IE Oe SRR SSS SS FSI | fice of the architects: [KULLIGKX MSZ BOWEN ROSE ARCHITECTS PLANNERS NOTICE TO CONTRACTORS SEALED TENDERS for the addition and renovations to the Administration Building for School District No. 87 (Stikine) in Cassiar, B.C. will be received at the of- Killick Metz Bowen Rose, 201- } 1200 - 103 Avenue, Dawson Creek, V1G 2G9, on or } before 3:00 p.m. local time, April 20, 1989. GENERAL CONTRACTORS may obtain plans and specifications from Killick Metz Bowen Rose, Archi- tects, 201-1200 - 103 Avenue, Dawson Creek, B.C. upon deposit of $100.00 payable to Killick Metz Bowen Rose Architects. Deposit will be returned if plans and specifications are returned to Architects within ten (10) days of close of tender. Each tender must be accompanied by an acceptable Bid Bond in the amount of 10% of tender price. Bid bond shall be drawn in favour of Owner. Lowest or any tender not necessarily accepted. Plans may be viewed at the Construction Associations in Dawson Creek, Fort St. John, Prince ‘George, Smithers, Terrace, Whitehorse and Vancouver. KILLICK METZ BOWEN ROSE Architects Planners Inc. 201-1200 - 103 Avenue Dawson Creek, B.C. V1G 2G9 (604) 782-2046 | Fax (604) 782-8002 The PTARMIGAN PLAYERS in conjunction with the LIONS CLUB present: oo f Rg ee re i, A Speakeasy Dinner Theatre Friday May 5th Saturday May 6th at the Rec: ‘Centre $20 00 per person For tickets or more information, please call Helen ee ee » CAMPGROUND: SE RVICES _ Billingsley (778-7283) or Norma Ray (778-7243). = . . a erate te went ore tate eee tet. oe eo Se eee SOS TCC O OC OO Ooo F * [snowmobile club Se! Cassiar Snowmobile Club sponsored an Event Day on Sunday, March 5, 1989. There wasn’t a large turn out, but everyone who attended enjoyed the events. We started our Event Day at the Oval track with six different races. Listed below are the winners of the various classes: CLASSI 0-300 Fan Paul Brohman 1st place David Liddle Jr. 2nd place CLASS II 0-400 Fan David Liddle Jr. 1st place Paul Brohman 2nd place CLASS III 0-500 Fan Frank Nuyens 1st place Brian Kellar 2nd place Greg Hoare 3rd place CLASSIV 0-500 Liquid Chico Klassen 1st place Frank Nuyens 2nd place Robert Storie 3rd place CLASS V 0-600 Liquid Chico Klassen 1st place Frank Nuyens 2nd place Daniel Andrews -3rd place ‘ ° . . . ‘ ‘ ‘ ‘ 4 ‘ . ‘ ‘ ry . ‘ ’ 4 ‘ ‘ ‘ ‘ ‘ 4 ‘ ‘ ‘ ’ ry ‘ ‘ ‘ ‘ ‘ ‘ ‘ ‘ . ‘ , ‘ ‘ ‘ * . ‘ GIFT IDEAS SOUVENIRS CAMERAS) FILM PROCESSING RECORDS & TAPES VIDEO RENTALS TOOLS — | FURNITURE | CARPET & LINO SooooooCoOoooooooOooooOoooosS : POs See APPLIANCES a re ed oe Med csccsovcocvevs.eeseescscscecssesresessecresesecvecescescceceecec OPEN CLASS VI -OPEN Chico Klassen 1st place Frank Nuyens 2nd place Daniel Andrews 3rd place When the ovals were over, we proceeded to the golf course and had hot dogs, hot chocolate and warmed up by the fire. The -next event was for the younger crowd. (ages four to seven, with an adult on the back of the snowmachine). The event was an obstacle course with balloons tied to the cones, which the children had to pop. The winners of this event are as follows: Cody Brohman and Dad 1st place Drew Clark and Robert Storie 2nd place Michael Brohman and Dad 3rd place The children had great fun with this event. The last events of the day were the Cross Country races. There was a marked track and the snowmobiler had to go around five laps, except for the 0 - 300 Fan class, who went two laps. The winners in their classes were: CLASSI 0-300 Fan Paul Brohman 1st place David Liddle Jr. 2nd place CLASS II 0-500 Fan Greg Hoare 1st place Frank Nuyens 2nd place 3rd place Paul Brohman Monday to Friday: Saturday: Sunday: “wat enweveee oeccerccocececocececeocecececc cece ccc eee cee eee eee ce + cele MEAT SPECIALTY SAUSAGE { Cassiar Courier April 1989 Page 11 CLASS III 0-500 Fan 1st place Greg Hoare Chico Klassen 2nd place - Frank Nuyens 3rd place CLASS IV. OPEN Chico Klassen 1st place Guy Martial * 2nd place Greg Hoare 3rd place A special thanks to all members whose support was greatly appreciated, also a big thanks to all of those who attended and showed support for the Club. Cassiar Mining Corporation donated equipment and material to make the Event Day possible, Radio Shack and the Royal Bank also donated all the balloons for the kids event. Club. In the next month, the Cassiar Snowmobile Club plans to have an event day every Sunday until April 2, 1989. Thank you for your support and help to our We will keep you informed of our activities. Welcome to our new members. We hope to see you at the event days and the meetings. Female Help Wanted Exciting new Jewellery line requires a Cassiar Representative. Great opportunity -- Small Investment Phone 782-2241 (Evenings) or Write 821 - 111 Avenue Dawson Creek, B.C. V1G 2X1 CASSIAR SHOPPING CENTER A Northern Shopping Experience oat - »12,000sqittunderoneroot | SERVICE IS OUR BUSINESS GROCERIES | FRESHPRODUCE | Y ry DELI PRODUCTS } HOURS 10:00 a.m. to 6:00 p.m. 10:00 a.m. to 1:00 p.m. Closed .. PHONE:.778- 7668 PAPAS OOoOOOOoOOoOo OOO COO OOO OOOO Oo ee