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Gold/Mining/Energy : KERM'S KORNER

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To: Herb Duncan who wrote (12616)	10/2/1998 12:08:00 AM
From: Kerm Yerman	of 15196

FINANCING / Big Bear Exploration Ltd. Announces Receipt Of Special Warrant Proceeds BIG BEAR EXPLORATION LTD. TSE SYMBOL: BDX OCTOBER 1, 1998 Big Bear Exploration Ltd. ("Big Bear") announced today that it will issue 20,057,570 Common Shares to the holders of Special Warrants acquired on June 4, 1998 upon the exercise of or deemed exercise of 10,857,953 Special Warrants by 5:00pm on Thursday October 1, 1998. Big Bear also announced that it has received the gross proceeds relating to the issuance of the Special Warrants in the amount of $11,031,680 plus interest thereon. The proceeds will be used by Big Bear for debt reduction. Griffiths McBurney & Partners and Peters & Co. Limited acted as underwriters for the transaction. Big Bear Exploration Ltd. is a Calgary based oil and gas company listed on The Toronto Stock Exchange under the symbol "BDX".

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