CORRECTION (January 12, 1998)

CanAlaska Resources (ICA-V) will purchase 10 claims (125 units) in Michie Twp., near Timmins, Ont. from Royal Oak Mines (RYO-T) in return for $125,000 by Jan. 15, 1998. Royal Oak will retain a 2% net smelter return (NSR) royalty on the property.

In a separate agreement, CanAlaska acquired, in October, 36 claim units in Timmins Twp. from a local prospector. Under the terms of that agreement, CanAlaska can earn a 100% interest in the property by making cash payments and exploration expenditures totalling $55,000 during the first year and $20,000 in each of the following three years. In addition, the property is subject to a 2% NSR, of which CanAlaska has the right to buy 1%.

Incorrect information appeared in our issue of Dec. 15 -21.