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Corporate Profile <br />Royal Resources Corporation is a Denver-based company <br />which is actively engaged in the exploration, development <br />and production o(oil, gas and gold in the United States. <br />Royal also has rights to oil and gas concessions in Australia. <br />Royal was incorporated in January of 1981 as a result of <br />combining properties of several predecessor entities. Royal <br />operates as an independent, publicly-owned company. <br />Recently, the Company has acquired, through its subsidiary <br />company, Royal Gold, Inc, a lease and option to purchase a <br />19 percent interest in an operating gold mine, the Camp Bird <br />Mine in Ouray. Colorado, and is negotiating for acquisition <br />of a 25 percent interest in a joint venture owning various <br />mineral leases and mining claims referred to as the <br />Colosseum Gold Prospect located in San Bernardino County, <br />California. At June 30, 1986, the Company has 15 full time <br />employees. <br />The Company's long term objective in the oil and gas <br />area is ro build its oil and gas reserves through acquiring, <br />exploring and developing oil and gas leases along with <br />participating in exploratory and development drilling in <br />addition to purchasing existing oil and gas production. <br />Presently, economic in the oil and gas industry have <br />significantly reduced the profitability of such activity and the <br />Company has redirected its oil and gas activities toward <br />generating and promoting wells that will carry Royal's <br />interest. <br />In order to apply its resources to those activities which <br />offer the best potential (or gain to its shareholders, the <br />Company has begun to diversity by entering into gold mining <br />ventures. <br />