Colony reports 1989 loss .F VANCOUVER

For the year ended Oct. 31, Colony Pacific Explorations (VSE) reported a net loss of $669,000 on revenues of $124,000. This compares with the previous year’s loss of $197,000 on revenues of $140,000. The company noted that operating expenses did not increase over the period and that a substantial portion of the net loss is related to the writedown of mineral properties in Alaska and British Columbia.

Colony intends to focus its attention on its Blue Moon polymetallic project in Mariposa Cty., Calif. The property is the subject of a proposed US$10-million underground program including shaft sinking, development drifting and underground drilling. All regulatory approvals have been received and the company is reviewing financing alternatives.006 0600,0202, Colony Pacific Explorations (VSE)* $000s except per share items Year ended Oct. 31 1989 1988 Revenue $124 $140 Net earnings (loss) (669 ) (197)

per share (0.07 ) (0.03)