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1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />"1 <br />11 <br />1 <br />1` <br />1~ <br />1~ <br />1 <br />1 <br />1 <br />GOLD fall PROTECT <br />PAGE Z-I <br />Based on these reserves Gold Hill Ventures was formed to develop <br />the Cash Mine and build a 50 ton per day gravity and flotation mill. <br />Permits were obtained and the mill was completed in 1987. Cosmos <br />Resources, Inc., which was to earn a 40% interest, was unable to raise <br />the funds to carry out the required underground development Using <br />dump material as feed the Joint Venture ran the mill in 1988 but the <br />scale of operations proved too small for 0.25 oz per ton feed. <br />The current ownership of the Cash, Rex and Victoria properties is as <br />follows:- <br />Cash Mine Claims Steen Faarily 81% <br />(30 claims) Cosmos Resources 13% <br />Fraser Family 6% <br />Rex & Victoria Claims Steen Family 100% <br />(21 claims) <br />Mill Building Fraser Family 100% <br />R. W. Tumer C.Eng. <br />Consulting Mining Engineer <br />