Northern Miner Indices (July 14, 2003)

NORTH AMERICAN MINING INDEX

CompanyTickerWeight

Barrick GoldABX-T19.4%

CamecoCCO-T3.6%

FalconbridgeFL-T4.7%

Freeport McM BFCX-N7.1%

GoldcorpG-T4.4%

IncoN-T7.8%

Kinross GoldK-T4.3%

Newmont MiningNEM-N24.1%

NorandaNRD-T4.6%

Phelps DodgePD-N6.8%

Placer DomePDG-N10.1%

Teck ComincoTEK.B-T3.0%

SMALL PRODUCERS INDEX

CompanyTickerWeight

Apollo GoldAPG-T2.3%

BolidenBLS-T4.6%

CambiorCBJ-T6.1%

Coeur d’AleneCDE-N5.3%

Crystallex IntlKRY-T3.7%

First Quantum FM-T5.4%

FNX MiningFNX-T4.9%

Golden Star ResGSC-T6.8%

HeclaHL-N12.7%

High River GoldHRG-T3.6%

InmetIMN-T5.3%

Miramar MiningMAE-T4.1%

North Amer PdPDL-T4.5%

Northgate ExplNGX-T5.5%

Rio NarceaRNG-T4.4%

River GoldRIV-T2.0%

Royal GoldRGL-T10.5%

StillwaterSWC-N6.1%

Thistle MiningTHT-T2.4%

Weights current in third quarter, 2003