Approximate Number _ Percentage of

of Shares Outstanding

Beneficially Owned Shares

Conwest Exploration Company Limited .................... 550,100 10.0
Bell Asbestos Mines, Ltd. (a wholly-owned subsidiary of Turner

ScaNew all Me imi ted) peru ieee ee ie ON mi omndy the Ome ee tea 1,287,122 23.4

INewimonte Minin gs Corporation etre n ent este 728,610 13.2

IRewWEsiOsIMemimamiei, Ii, 2 545ec0cc5enausbecsdeensoessues 550,000 10.0

Varmas Islairahio AAS ESIOS IL, . oo ccc chao cseor ees co seduconse 552,860 10.1

Election of Directors

The board of directors consists of thirteen directors who are elected at the Annual Meeting to
serve until the next Annual Meeting or until their successors are elected or appointed. It is intended
to vote the proxies received pursuant to this solicitation for the election of the thirteen nominees
who are listed below. In the event that any vacancy occurs in the slate of nominees submitted herewith,
which is not anticipated, it is intended that the persons named in the accompanying instrument of proxy
reserve the right to vote for another person of their choice in place of the nominee who is unable to
serve as a director. The names and pertinent information with respect to each of the nominees for
election as directors as reported by each are shown below, including the year in which each nominee

first became a director of the Company:
Number of Shares
Beneficially
Director From Owned

April 22, 1965 1
to December 16,

1966 and from

June 22, 1967

Principal Occupation

Proposed Nominees or Employment

Ralph M. Bateman

Chairman of Turner & Newall Limited, a min-
ing and manufacturing company.

John G. Berry General Manager of the Company. April 23, 1971 700
John D. Christian Chairman and President of the Company. May 6, 1963 1
Martin P. Connell Assistant Treasurer of the Company, and Exe- April 23, 1971 1
cutive Vice-President, Conwest Exploration
Company Limited, a mining exploration com-
pany.
J. Marcel Dorais President, Bell Asbestos Mines, Ltd. from July June 13, 1972 1
1, 1972; Executive Vice-President, Bell Asbestos
Mines, Ltd. from March 1, 1971 to June 30,
1972; formerly Vice-President, Construction
Div., Miron Co. Ltd., Montreal.
Charles R. Elliott Vice-President and Secretary of the Company, July 11, 1951 2,782
and President of Conwest Exploration Com-
pany Limited.
E. J. Heath Chairman, James Hardie & Coy. Pty. Limited, September 21, 1971 1
a manufacturing company.
D. W. Hills Director, Turner & Newall Limited. April 23, 1971 1
Jan F. T. Kennedy Vice-President, Conwest Exploration Company April 23, 1971 39,351
Limited.
Plato Malozemoff Chairman and President, Newmont Mining January 19, 1956 1
Corporation, a mining company.
William S. Simpson Chairman, President and Chief Executive April 23, 1971 1
Officer, Raybestos-Manhattan Inc., a manu-
facturing company.
F. Parker Smith Vice Chairman, Bell Asbestos Mines, Ltd., a April 22, 1965 1
mining company.
Jack E. Thomson Executive Vice-President, Newmont Mining 1

Corporation, a mining company. Formerly
Vice-President, Newmont Mining Corporation.

In the event that By-Law 97 is ratified it is intended to nominate Mr. Peter Steen to be a director

and vote the proxies for his election.

PAGE THREE

The pertinent information concerning Mr. Steen follows: