To: Douglas Simpson who wrote (3807 ) 1/4/1999 1:46:00 PM From: Steve Stakiw Read Replies (5) | Respond to of 4057
Fairmile Gold Comments on Trading Resumption FAIRMILE GOLD CORPORATION January 4, 1999 ASE: FLA Fairmile Gold Comments on Trading Resumption Vancouver, BC -Fairmile Gold Corporation (FLA:ASE) announces that with the filing of audited Financial Statements for its fiscal year ended May 31, 1998 with the appropriate regulatory authorities its shares resumed trading on the Alberta Stock Exchange (ASE) December 31, 1998. In addition the first Quarter 1998 report for the period ended August 31, 1998 has been filed. The Company's auditors, Morgan & Company, state in their audit; "In our opinion, these financial statements present fairly, in all material respects, the financial position of the Company as at May 31, 1998 and the results of its operations and the changes in its financial position for the year then ended in accordance with generally accepted accounting principles As required by the British Columbia Company act we report that in our opinion, these principles have been applied on a consistent basis. "The financial statements as at May 31, 1997 and for the year then ended, were audited by other auditors who expressed an opinion without reservation on those statements in their report dated September 15, 1997." The Company's previous auditor's PriceWaterhouseCoopers (PWC) resigned November 2, 1998 without prior notice or any apparent reason in the midst of the annual audit resulting in the Company's shares being cease traded by the ASE for failure to file the Financial Statements on time. The Company is concerned with the impact in the investment community and on its shareholders - as well as the regulatory authorities - with the action taken by PWC. The Company's board has referred the matter to legal counsel and will take whatever action is deemed appropriate in the circumstances. "signed J. Michael Mackey" J. Michael Mackey Chairman The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. Telephone: (604) 257-4254 1-888-599-6777 Toll Free Fax: (604) 608-2949