News Release

Released: 06/08/98  Contact: Douglas M. Hyndman  899-6500 or (BC only) 1-800-373-6393

TORONTO - The Canadian Securities Administrators (the "CSA"), the securities regulatory authorities of all provinces and territories of Canada) welcome the release today of the Interim Report of the TSE/OSC Mining Standards Task Force, Setting New Standards: Proposed Standards for Public Mineral Exploration and Mining Companies and look forward to public discussion of the Interim Report.

The CSA believe that the quality of information available to the investing public, particularly in relation to mineral exploration and mining activities of reporting issuers, can be improved. Later this month, the CSA will release, for public comment, proposed National Instrument 43-101, Standards of Disclosure for Exploration, Development and Mining Properties, and a companion policy.

The proposed national instrument and companion policy are intended to take the place of current CSA National Policy Statements Nos. 2-A and 22 as they apply to reports and public disclosure relating to mineral exploration and mining activities.

The proposed instrument would modify, extend and clarify standards for the preparation and public dissemination, by or on behalf of reporting issuers, of information relating to mineral exploration and mining activities. The goal of the CSA is to enhance the reliability and comparability of information available to the public, and in so doing to foster fairness and integrity in Canadian capital markets.

For information on proposed National Instrument 43-101, please contact:

British Columbia Securities Commission:
Wayne Redwick (604) 899-6699
Derek Patterson (604) 899-6645
Terry Macauley (604) 899-6723

Alberta Securities Commission:
Stephen Murison (403) 297-4233
Agnes Lau (403) 422-2191

Ontario Securities Commission:
Kathy Soden (416) 593-8149
Barb Hendrickson (416) 593-8084
Hugh Squair (416) 593-8054

Commission des valeurs mobilières du Québec:
Pierre Martin (514) 873-5326 Ext. 262

For information on the Mining Standards Task Force, please contact:

Morley Carscallen, Vice Chair, OSC
(416) 593-8081

Kathy Soden, Manager, Market Operations, OSC
(416) 593-8149

For copies of the Mining Standards Task Force Interim Report, please contact:

TSE Publications
(416) 947-4681
(416) 947-4708 fax