INSIDER TRADING — Bre-X directors and officers sell 1.5 million shares

Insider trading reported by the Ontario Securities Commission during the period June 21 to July 12:

*Aber Resources (ABZ-T) — J.H. Parker, director, exercised 25,000 options at $7.87 and sold 11,000 shares at $21 to $23.75 to hold 35,000 shares and 50,000 options.

* American Bullion Minerals (ABP-V) — R.A. Dickinson, director, sold 76,000 shares at $4.45 to $4.70 to hold 33,000 shares.

* Arequipa Resources (AQP-T) — A.G. Hall, director, exercised 25,000 options at 84 cents and sold 25,000 shares at $23.40 to $23.60 to hold 130,000 shares. C. McLeod, director, exercised 45,000 options at 84 cents and sold 45,000 shares at $21.70 to $34 to hold 330,000 shares. D.E. DeWitt, director, exercised 40,000 options at $1.40 and sold 40,000 shares at $29.50 to $33.05 to hold 20,000 options and no shares. S.M.W. Lam, director, sold 545,500 shares through Bickerstaf Holdings, to hold 3,634,500 shares indirectly. The Lowell Family Limited partnership, controlled by a director, sold 197,350 shares at $20.13 to $30 to hold 2,688,000 shares. A.J. Petrina, director, sold 25,000 shares at $21.50 to $21.75 to hold 25,000 shares.

* Asia Pacific Resources (APQ-T) — J.M. Darch, director, sold 100,000 shares at $10.30 to hold 144,100 shares.

* Atna Resources (ATN-T) — W.J. Coulter, director, exercised 12,500 warrants at 50 cents and bought 25,000 shares at $5.15 to $5.70 to hold 545,275 shares. Hugh Mogensen, director, exercised 50,000 options at 36 cents to hold 80,000 shares.

* Aur Resources (AUR-T) — L.J. Thibodeau, director, exercised 25,000 options at $2.90 and sold 25,000 shares at $11.40 to hold 20,000 shares.

* Band-Ore Resources (BNDR-C) — D.A. Diltz, director, sold 3,500 shares at $12 to hold 167,500 shares. R.W. Hughes, director, sold 27,000 shares at $8.50 to $12 to hold 250,000, and sold 7,000 shares (held indirectly) at $8.75 to hold 3,000 shares indirectly. R.J. Duess, director, sold 23,500 shares at $8.25 to $12.25 to hold 459,400 shares.

* Barrick Resources (ABX-T) — L. Baertl, senior officer, exercised 5,000 options at $18.19 and sold 5,000 shares at $43 to hold no shares.

* Black Swan Gold Mines (BSW-T) — E.A. Lemieux, director, exercised 125,000 options at 18 cents and sold 100,000 shares at $1.08 to $1.48 to hold 154,800 shares and 375,000 options.

* Bre-X Minerals (BXM-T) (Split 10-for-1 May 24) — J. Felderhof, director, exercised 90,000 options at $85.25 and sold 91,000 shares at pre-split prices of $196 to $229 to hold 3,640,000 post-split shares. N. McAnulty, a deemed insider, sold 125,000 shares at post-split prices of $25.15 to $25.40 to hold no shares. T.S. McAnulty, director, sold 50,000 shares at post-split prices of $25.90 to $28 to hold 350,000 shares directly and 175,000 shares through an RRSP, plus 300,000 options. J.B. Thorpe, senior officer, was issued 180,000 options to hold 200,000 options. J. Walsh, senior officer, sold 45,000 shares at pre-split prices of $205.12 to $205.32 to hold 2,000,000 post-split shares.

* Cambior (CBJ-T) — L.P. Gignac, director, exercised 30,000 options at $10 and sold 30,000 shares at $20.25 to $20.55 to hold 18,046 shares.

* Canadian States Resources (CSRS-T) — S. Shefsky, director, sold 500,000 shares at $1.50 to $1.52 to hold no shares and 550,000 options, plus 37,520 shares held indirectly.

* Canmine Resources (CMR-A) — P. Teodorovici, director, sold 3,000 shares at $4.40 and bought 800 shares at $4.25 to hold 74,450 shares.

* Corona Gold (CRNA-C) — P.D. Walker, director, sold 5,000 shares at $9.25 to hold 138,000 shares.

* Diamond Fields Resources (DFR-T) — R.E. Flood, director, exercised 29,333 options at $19.05 and sold 29,333 shares at $38.25 to $39.80 to hold no shares.

* Fortune Minerals (FORM-C) — C.L. Clouter, director, acquired 10,000 shares privately at $1.65 and sold 10,000 shares at $30 to $32.50 to hold 324,000 shares. R.E. Goad, director, exercised 70,000 options at $1.65 and sold 15,000 shares at $32.29 to $43.17 to hold 1,002,500 shares. A.M.A. Lopes, senior officer, sold 850 shares at $20.69 to hold 9,150 shares.

* Freewest Resources Canada (FWR-T) — M.I. Watson, director, bought 50,000 shares at 79 cents to hold 753,901 shares.

* Geomaque Explorations (GEO-T) — A. Alvarez, director of an affiliated company, exercised 20,000 options at 60 cents and sold 20,000 shares at $3.10 to hold no shares. N.R. Patterson, director, sold 3,000 shares at $3.35 and exercised 10,000 options at 60 cents to hold 10,000 shares and 120,000 options.

* Gerle Gold (GGL-T) — W. Wolodarsky, director, sold 52,200 shares held directly and 26,200 shares held in an RRSP, at $2.50 to $3.42, to hold 668,500 shares directly and 75,300 shares in an RRSP; was granted 150,000 options to hold 150,000 options.

* Golden Star Resources (GSC-T) — J.T. Abbott, director of an affiliated company, sold 1,000 shares at US$15.63 to hold 1,902 shares. E.C. Mercier, director, exercised 10,000 options at $8.67 and sold 10,000 shares at $24.30 to $24.50 to hold 1,000 shares and 40,000 options. R.A. Stark, director, exercised 10,000 options at $2.76 and sold 12,000 shares at $24.20 to $24.65 to hold 13,000 shares.

* Guyana Gold (GUY-V) — H. Hemmerich, director acquired 100,000 shares at 1 cents in an unspecified transaction and sold 10,000 shares at $1.46 to hold 125,056 shares.

* Guyana Goldfields (GGFI-C) — J.P. Sheridan, director, exercised 75,000 options at $2.55 and sold 90,000 shares at $2.75 to 2.77 to hold 113,250 shares directly; acquired 506,625 shares at 14 cents by private transaction, through a controlled company; and bought 10,000 shares at $2.10 to $2.90, and sold 17,000 shares at $2.90 to $3.50, through a second controlled company, to hold 723,125 shares indirectly. H.P Jarvis, director, exercised 20,000 options at 50 cents and 10,000 options at $2.55, bought 10,000 shares at $3.30, and sold 10,000 shares at $2.77 to hold 50,000 shares.

* Guyanor Ressources (GRL.B-T) — J.T. Abbott, director of an affiliated company, sold 1,000 shares at $12.80 to hold 13,040 shares. Golden Star Resources, an affiliated company, exercised 20,000 options at $2.10 and acquired 6,000 shares by unspecified right at $2.10 to hold 4,149,574 shares.

R.A. Stark, director of an affiliated company, exercised 10,000 options and acquired 2,000 shares by other right, at $2.10, and sold 12,000 shares at $18 to hold 18,000 shares and 30,000 options.

* International Pursuit (IPJ-T) — G.E. Creber, director, bought 212,500 shares at $1.15 to $2.20. S.R. Dattels bought 700,000 options at 65 cents to $1.15 and acquired 100,000 shares at an unspecified price in an unspecified transaction.

* Kinross Gold (K-T) — G.M. Hughes, senior officer, exercised 4,000 options at $2.40 and sold 4,000 shares at $12 to hold 32,495 shares and 238,668 options. B.W. Penny, senior officer, exercised 5,400 options at $1.40 and sold 5,400 shares at $12.10 to hold 2,663 shares and 108,400 options.

* Laramide Resources (LAM-T) — M.H. Bailey, director of an affiliated company, sold 45,000 shares at 90 cents to $1.39, and bought 25,000 options at 46 cents, to hold 25,000 shares and 75,000 options. J.T. Lau, director, exercised 85,000 options at 46 cents and sold 15,000 shares at 95 cents to $1.35 to hold 198,400 shares. Exaton Resources, an affiliated company, sold 600,000 shares at 80 cents to 85 cents to hold 1,311,280 shares. C. Von Hessert, director, bought 12,000 shares at 75 cents to 78 cents and gave 5,000 shares as a gift to hold 1,545,292 shares. A.F. Reeve, director, sold 90,000 shares at $1 to $1.36 and exercised 85,000 options at 46 cents to hold 320,500 shares.

* Madsen Gold (MGF-T) — J.H. Morlock, director, bought 3,300 shares at $2.65 to $2.75 to hold 2,168,652 shares.

* Manhattan Minerals (MAN-T) — P. Tegart, director, sold 10,000 shares at $4.50 to $4.80 to hold 466,550 shares, and was granted 35,000 options with an exercise price of $4.25 to hold 75,000 options. R.D. Wills, director, bought 25,000 shares at $4 to $4.75 to hold 741,400 shares directly and 6,000 shares in an RRSP.

* Manson Creek Resources (MCK-T) — L. Lahusen, director, acquired 155,000 options and sold 106,400 shares at $2.35 to $4.13 to hold 517,300 shares and 366,000 options. G.A.J. Devonshire, director of an affiliated company, sold 5,000 shares at $2.74 to hold 10,000 shares. G.H. Harper, director, received 368,000 options in an unspecified transaction to hold 504,000 options, bought 28,000 shares at $2.25 to $3.45, and sold 47,300 shares at $2.55 to $3.80 to hold 397,630 shares. B.M. O’Neill, director of a related company, exercised 15,000 options at $1.24 and sold 15,000 shares at $2.80 to hold no shares and 25,000 options. F.L. Wynne, director, exercised 50,000 options at $1.79 and sold 99,900 shares at $2.35 to $3.90 to hold 24,000 shares, and was granted 170,000 options to hold 120,000 options.

* Moneta Porcupine Mines (ME-T) — R.C. Whyte, director, bought 180,000 shares at 61 cents to 78 cents to hold 430,000 shares.

* Nuinsco Resources (NWI-T) — S.A. Averill, director, sold 11,000 shares held personally and 10,000 shares held indirectly at $3.95 to $4.09, to hold 50,000 shares directly and 56,000 shares indirectly. J. Wilson, senior officer, sold 150,000 shares at $1.99 to $4.17 to hold 353,505.

* Orvana Minerals (ORV-T) — P.M.D. Bradshaw, senior officer, sold 60,000 shares at $8.75 to $9.25 to hold 181,737 shares.

* Pentland Firth Ventures (PFO-T) — G.M. Hughes, director of an affiliated company, sold 50,000 shares at $2.03 to $2.10 to hold 200,000 shares. C.D.A.

Comba, director, bought 5,000 shares at $2 to hold 55,000 shares directly.

R.M. Buchan, director, bought 75,000 shares at $2 to hold 75,800 shares.

Kinross Gold Corporation, an affiliated company, bought 800,000 shares at $2 to hold 6,023,876 shares. G.A. McCreary, director of an affiliated company, bought 98,000 shares at $2, 10,000 shares at $1.10, and exercised warrants for 5,000 shares at $1.25, to hold 40,000 shares. B.W. Penny, a director of an affiliated company, exercised 7,700 options at $1.10, sold 7,700 shares at $2, and bought 5,000 shares at $2 to hold 6,000 shares.

* Richmont Mines (RIC-T) — J.G. Rivard, director, sold 100,000 shares held personally at $4.50 to $4.60 to hold no shares directly and 1,000,000 shares indirectly.

* Royal Oak Mines (RYO-T) — M.K. Witte, director, was granted 60,000 options at an exercise price of $4.90 to hold 493,333 options.

* Roycefield Resources (RYC-A) — R.J. Goguen, director, sold 45,100 shares at $5.25 to $5.60 to hold 20,400 shares. P.E. Legere bought 29 shares at $4.50 and sold 23,000 shares at $4.20 to $5.65 to hold 14,309 shares.

* Silver Standard Resources (SSO-V) — Teck Corporation, an affiliated company, sold 161,500 shares to hold 1,791,521 shares.

* Tandem Resources (TDM-M) — S.G. Hawkins, director, acquired 289,500 shares at $1.79 to $2.40 and sold 7,000 shares at $1.95 to hold 1,979,677 shares directly and 167,500 indirectly. W.S.F. Hawkins, director, received 100,000 options, exercised 10,000 options at 20 cents, bought 4,000 shares at $1.56 to $2.10, and sold 13,000 shares at $2.04 to $2.50 to hold 1,000 shares and 90,000 options.

* Trillion Resources (TLQ-T) — J.J. Barclay, senior officer, sold 10,000 shares at $6.40 to $6.45 to hold 3,700 shares. R.K. Netolitzky, director, sold 8,700 shares at $6.50 to hold 992,120 shares.

* TVI Pacific (TVI-A) — C.M. James, director, sold 37,300 shares at $2.50 to $2.70 to hold 722,646 shares.