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Gold/Mining/Energy : CALEDONIAN PACIFIC MINERALS...MAJOR DISCOVERY? -- Ignore unavailable to you. Want to Upgrade?

To: Walter who wrote (22)	10/5/1998 5:12:00 AM
From: Kim Oishi & Associates, Ltd.	Respond to of 31

Dear Walter, As you are aware, Base committed A$12,457,000 to Caledonian to earn a 27.69% working interest in Caledonian's properties. To date, Caledonian has announced that it has received A$1.5 million with the balance due on September 30, 1998. Caledonian will issue a news release this week to report on the financing. I understand that Caledonian expects Base to meet its commitments. We are looking forward to an exciting exploration program on New Caledonia after the financing. Best Regards, Kim Oishi

To: Walter who wrote (22)	10/7/1998 12:17:00 PM
From: Round Table	Read Replies (1) \| Respond to of 31

Hello Everyone: $10,500,000 cash paid by Base Metals Exploration Caledonian Pacific Minerals N.L. CDM Shares issued 39,960,005 Oct 6 close $0.19 Wed 7 Oct 98 News Release Mr. David Whitfield reports Base Metals Exploration NL has paid to Caledonian and its 100 per cent owned subsidiaries a total of $10,500,000 out of the committed amount of $12,457,800 pursuant to the agreement dated Dec. 17, 1997 between Caledonian and Base. Details of the agreement were announced in a news release in Stockwatch Dec. 18, 1997. Base paid to Caledonian $1,500,000 prior to June 30, 1998 and since that date has paid an additional $9,000,000. This leaves an outstanding balance of $1,957,800 to be paid by Base as it receives additional funds from its investors. Caledonian now has cash reserves in excess of $9,000,000. Cheers, RTM