News Release

Released: February 9, 1999 Contact: Louyse Gauvin
899-6500 or
(BC only) 1-800-373-6393

The Canadian Securities Administrators (the "CSA"), the securities regulatory authorities of all provinces and territories of Canada) 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. In July 1998, the CSA released, for a 120 day public comment period, proposed National Instrument 43-101, Standards of Disclosure for Exploration, Development and Mining Properties, and a companion policy.

The CSA welcomed the release today of two reports, one, the Final Report of the TSE/OSC Mining Standards Task Force, Setting New Standards: Recommendations for Public Mineral Exploration and Mining Companies and a second, from Quebec, The Report on Financing the Quebec Mining Industry.

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," said Jack Geller, Vice-Chair of the Ontario Securities Commission. The CSA is currently analysing the comments it received from over 30 commenters on its proposals.

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
Terry Macauley (604) 899-6723

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

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

Commission des valeurs mobilières du Québec:
Denis Dubé (514) 940-2163

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

Kathy Soden, Director, Corporate Finance Branch, OSC
( 416) 593-8149

For information on the Report on Financing the Quebec Mining Industry please contact:
Denis Dubé (514) 940-2163, CVMQ

For copies of the Mining Standards Task Force Final Report, please contact:
TSE Publications
(416) 947-4681
(416) 947-4708 fax