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~i <br />1I <br />'I <br />r <br />r <br />r <br />r <br />r <br />r <br /> <br /> <br />t <br /> <br />GOLD t{n 1. PROTECT <br />PwGE Z-2 <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 />7'be current ownership of the Cash, Rex and Victoria properties is as <br />follows:- <br />Cash Mine Claims <br />(30 claims) <br />Rex & Victoria Claims <br />(21 claims) <br />Mill Building <br />Steen Family 81% <br />Cosmos Resources 13% <br />Fraser Family 6% <br />Steen Family 100% <br />Fraser Family 100% <br />R. W. Tumer C.Eng. <br />Consulting Mining Engineer <br />