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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks! -- Ignore unavailable to you. Want to Upgrade?

To: The Lone Ranger who wrote (620)	11/7/1997 2:34:00 PM
From: Kent C.	Read Replies (1) \| Respond to of 1348

Nov. 7 - NDU.TSE - Financing agreement with Yukon Gold From siliconinvestor.com; NDU Resources Ltd Shares issued 10045182 1997-11-06 close $0.52 Mr James Stephen reports NDU has entered into a letter agreement with Yukon Gold and Mineral Development Company Inc wherein Yukon Gold has agreed to certain financial arrangements with NDU which if completed and combined with NDU's present working capital will ensure that NDU has the minimum $5,000,000 required for the proposed merger with United Keno Hill Mines reported in Stockwatch November 5 1997. Pursuant to letter agreements entered into with Yukon Gold dated July 21 and August 7 1997, Yukon Gold could acquire a minimum of 600,000 and a maximum of three million flow through shares of NDU at $1.00 each. The original subscription of 600,000 flow through shares has been completed. Pursuant to the original agreement, if the maximum subscription of three million flow through shares was completed warrants to purchase up to an additional three million flow through shares at $1.00 for 18 months would be issued. The letter agreement amends the terms of the original agreement. The terms of this new agreement are: Yukon Gold is committed to arrange for subscriptions of 300,000 shares of NDU at $1.00 with each subscriber being granted a warrant to purchase an additional share at $1.00 for 18 months. This transaction is scheduled to close no later than November 18 1997 and is not subject to any conditions, other than regulatory approval. Yukon Gold has agreed to use its best efforts to arrange for subscriptions for an additional 2.5 million flow through shares at $1.00. Each subscriber will also receive a warrant to purchase an additional share at $1.00 for 18 months. If successful, the subscribers of the original 600,000 flow through shares pursuant to the original agreement will each receive a warrant to purchase an additional share at $1.00 for 18 months. Yukon Gold has agreed to use its best efforts to arrange for financing of a minimum of 700,000 and a maximum of 2.2 million shares of NDU at $1.00. These shares will have no warrants attached to them. Yukon Gold has agreed to use its best efforts to complete the financing of 2.5 million flow through shares and not less than 700,000 common shares (for a total of $3.2 million) within 30 days of the signing of a binding merger agreement between United Keno and NDU, the possibility of which was the subject of the letter agreement entered into between NDU and United Keno. If the merger is not completed within 70 days of the signing of a binding merger agreement, Yukon Gold will be released from its obligations to use its best efforts to arrange this financing.