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.

a eel Canned yar ene ERR creer: | EU ee ee eae re ee ; 39,350
Associates:

Conwest Exploration Company Limited ..................... eonnir gs ee SO sLOO)

Central Patricia Gold Mines, Limited .................. PE a ore a , 95,000 645,100

684,450

Remuneration of Officers and Directors
The aggregate direct remuneration paid by the company during the year ended December 31, 1971:—

To" the thirteen directors) on panies AN ee heed Bee EDS 1182925)
To the six officers of whom four are directors .................. 158,440
To three others, deemed officers pursuant to the Ontario Securities Act ........ 80,700

$ 258,065

The aggregate cost to the company during the year ended December 31, 1971 with respect to all
pension benefits proposed to be paid in the event of retirement at normal retirement age (65 years) :—

Rewdirectorssand (officers muses 6g ee $ 21,100
Re three others, deemed officers pursuant to the Ontario Securities Act ........ 10,400
$ 31,500

In addition thereto the Company has entered into an agreement with its President pursuant to which
the President undertook to continue his services to the Company to retirement age, in consideration for which
the Company agreed to provide additional pension benefits. The aggregate cost to the Company in the year
ended December 31, 1971 was $73,165. and the annual cost thereafter until December 31, 1980 is $3,886.

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. It is intended to vote the shares represented by the proxies
received pursuant to this solicitation by management for the appointment of Clarkson, Gordon & Co. as
auditors of the Company.

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,

CUR: ELLIOTT,

Secretary.
DATED March 14, 1972,

Toronto, Ontario.

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