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

To: igor who wrote (903)	4/19/1998 5:32:00 PM
From: The Lone Ranger	Read Replies (1) \| Respond to of 1348

Hello Igor. Finding the reference to the exact number of shares is proving difficult. Based on the information on the merger found in the Circular, it should be something like this: UKH 17,084,950 shares including Options and Warrants NDU 17,330,000 shares including Options and Warrants x 1.35 = 23,395,500 Total = 40,480,445 Check out NDU's SEDAR site for more information: sedar.com Full details of the Company's plans are in the NDU/UKH Arrangement which are at the SEDAR site in a 777k PDF file called "Management proxy/information circular" informally known as the "Circular". You'll need Adobe Acrobat to read the PDF file. You can install easily after you've downloaded it from: adobe.com It's a large file and will take a few minutes to load, unless your computer has insufficient RAM or processing ability, in which case it may not load at all. UKH's SEDAR site is: sedar.com Here's the press release from December on the proposed merger which contains specific information regarding the reserves: United Keno Hill Mines Ltd - Agreement reached on merger United Keno Hill Mines Ltd UKH Shares issued 15031450 1997-12-10 close $0.9 Thursday Dec 11 1997 See NDU Resources Ltd (NDU) News Release Mr James Stephen and Mr Stephen Powell report Agreement has been reached on the terms of the proposed merger of the respective companies, due diligence has been completed, and prior conditions have been met. The previously announced agreement with Yukon Gold and Mineral Development Company has been terminated and the parties have waived the condition respecting NDU's financing activities. A binding merger agreement is expected to be settled shortly, following which shareholder, regulatory and other approvals will be sought. The merger of the companies and the consolidation of their respective property holdings in central Yukon will result in a company which enjoys a base metal-hosted reserve and mineral resource inventory of over 70 million ounces of silver. Combining NDU's properties, particularly the Marg and Blende deposits with the United Keno properties and infrastructure at Elsa will offer the operating synergies and capital efficiencies necessary to permit the early resumption of commercial production of silver from the United Keno properties and exploitation of NDU's Marg and Blende deposits. United Keno's Elsa properties presently host geologic resources and mineable reserves of 944,000 tons grading 30 ounces per ton silver, 4.8% lead and 3.9% zinc. United Keno's Elsa properties have produced in excess of 225,000,000 ounces of silver since production commenced in 1914 and less than 25% of the favourable host horizon has been explored to date. NDU's Marg deposit hosts a drill-indicated reserve of 6,092,000 tons at an average grade of 1.76% copper, 2.46% lead, 4.60% zinc, 0.029 ounces per ton gold and 1.8 ounces per ton silver. The Blende deposit hosts a drill-indicated resource of 21,495,000 tons of open pittable material with an average grade of 3.04% zinc, 2.79% lead and 1.6 ounces per ton silver. Both deposits indicate potential for expanded tonnages and contain sections of higher grade mineralization that could be mined soon after start up. Plans call for the resumption of production at Elsa at an average rate of 500 tons per day. First year production is forecast at approximately 6,000,000 ounces of silver at an average cost of approximately US$3.00 per ounce. Once production has been resumed, initial activities will concentrate on further expansion of the mineral resources at Elsa, and then on establishing the feasibility of the Marg deposit and the economics of a new 2500 to 3000 tons per day mill to be constructed at Elsa.