_ To the knowledge of the directors and officers of the Company, the following are the only shareholders
beneficially owning, directly or indirectly, 10% or more of the issued and outstanding shares of the Company.

Conwest Exploration Company Limited ........................

Bell Asbestos Mines, Ltd. (a wholly-owned subsidiary of Turner &

Newall Limited) .
Newmont Mining Corporation

Raybestos-Manhattan, Inc.

James Hardie Asbestos Ltd.

Election of Directors

Approximate Number

Percentage of

of Shares Outstanding

Beneficially Owned Shares
550,100 10.0
1,287,124 23.4
728,610 13.2
550,000 10.0
687,210 1W2e5)

The board of directors consists of fourteen 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 fourteen 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:

Proposed Nominees

Ralph M. Bateman

John G. Berry
John D. Christian
Martin P. Connell

J. Marcel Dorais

Charles R. Elliott

Patrick W. C. Griffith

Edward J. Heath

David W. Hills
Ian F. T. Kennedy

Plato Malozemoff

William S. Simpson

Peter Steen
Jack E. Thompson

Principal Occupation
__or Employment

Chairman of Turner & Newall
Limited, a mining and manufacturing
company.

General Manager of the Company.
Chairman of the Company.

Assistant Treasurer of the Company,
and President, Conwest Exploration
Company Limited, a mining explora-
tion company.

President, Bell Asbestos Mines, Ltd.,
a mining company.

Vice-President and Secretary of the
Company, and Chairman of Conwest
Exploration Company Limited.

Deputy Chairman, Turner & Newall
Limited.

Chairman, James Hardie & Coy. Pty.
Limited, a manufacturing company.

Director, Turner & Newall Limited.

Vice-President, Conwest Exploration
Company Limited.

Chairman and Chief Executive Of-
ficer, Newmont Mining Corporation,
a mining company.

Chairman and Chief Executive Offi-
cer, Raybestos-Manhattan Inc., a
manufacturing company.

President of the Company.

President, Newmont Mining Corpora-
tion.

PAGE NINE

Director From

April 22, 1965
to December 16,
1966 and from
June 22, 1967

April 23, 1971
May 6, 1963
April 23, 1971

June 13, 1972

July 11, 1951

June 13, 1974

Sepember 21, 1971

April 23, 1971
April 23, 1971

January 19, 1956

April 23, 1971

April 12, 1973
April 12, 1973

Number of
Shares
Beneficially
Owned

1

700