Cassiar Asbestos Corporation Limited

NOTE TO THE FINANCIAL STATEMENTS
DECEMBER 31, 1962

Subsidiary company —

The financial statements of the subsidiary company have
not been consolidated since it has no liabilities other than
$7,187 advanced by Cassiar Asbestos Corporation Limited,
and its only assets are mineral claims, which are in the
preproduction and development stage. The original vendor
brought suit to recover title to these claims. The Supreme
Court of British Columbia gave judgment in favour of
the company but this decision was reversed by the Court
of Appeal for British Columbia. The suit is being appealed

to the Supreme Court of Canada.

Pace EIcutT