Number of Shares

Principal Occupation ‘ Beneficially
Proposed Nominee or Employment Director From Owned
Peter Steen P.Eng. (Ont.), Associateship of the Camborne NIL

School of Mines. As of April 1, 1973, Mr.
Steen will join the company’s staff in a senior
capacity. Prior to this he was employed by
Rio Algom Ltd. as Mine Superintendent, Anglo-
Rouyn Mines Ltd., and, since 1970, by Anglo-
American Corporation Canada Limited as
Chief Mining Engineer and as General Man-
ager, Whitehorse Copper Mines Limited.

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.

TSE eile wenn eye. 5 msec tebe neh erty a ctiarge ne ea wae aD IDE ent a 39,351
Associates:

Conwest Exploration Company Limited ............................ 550,100

Central Patricia Gold Mines, Limited ............................. 95,000 645,100

684,451

Remuneration of Officers and Directors
The aggregate direct remuneration paid by the Company during the year ended December 31,

1972:
jlokthexthinteenydinectOrs me $ 19,200
To the six officers of whom four are directors ........................ 159,560
To three others, deemed officers pursuant to the Ontario Securities Act... 81,250
$ 260,010

The aggregate cost to the Company during the year ended December 31, 1972 with respect
to all pension benefits proposed to be paid in the event of retirement at normal retirement age (65 years):

Directorsandmofficersame.. \. ase een ck Geet aR lee $ 22,800
Three others, deemed officers pursuant to the Ontario Securities Act ...... 10,950
$ 33,750

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 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,

DATED March 13, 1973, C. R. ELLIOTT,
Toronto, Canada. Secretary.

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