FINANCING (November 01, 1993)

Franco-Nevada Mining — One million units, each consisting of sh and wt @ $75 per unit.

Redfern Res. — 1.8 million units issued on the exercise of special wts @ $2.75 per special wt.

Kinross Gold — 22.4 million shs to be issued pursuant to exercise of previously issued first and second special wts plus 666,666 common shs issuable without additional pymt upon exchange of 666,666 special exchangable pref shs previously issue per first special wt @ $1.77 and per second special wt @ $2.50.

Eldorado — Three million units to be issued upon exercise of three million special wts. Each unit consits of one common sh and half a common sh purchase wt @ $2.35 per special wt.

Consolidated Nevada Goldfields — one right for each common sh @ U.S. 62 cents.