Canadian Warrants

Any holder of rights who has exercised his rights may, before 4:00 pm November 18 1997 subscribe for additional flow-through units. Each holder of rights will be entitled to subscribe for up to the number of rights held by him divided by five. If the number of additional flow-through units subscribed for pursuant to the additional subscription privilege exceeds the number of available units initially unsubscribed, then the flow-through units will be allocated in proportion to the size of the individual additional subscriptions.

In consideration for corporate finance services, the company will issue to Canaccord Capital 100,000 shares.

Canaccord has agreed that, if at the expiration of the rights all of the flow-through units have not been subscribed for under either the initial subscription privilege or the additional subscription privilege, then it will purchase the remaining flow-through units. In consideration therefore, Canaccord will be issued a non-transferable share purchase warrant to subscribe for up to May 26 1998 at $0.60 per share that number of common shares equal to 40% of the number of flow-through units.

In addition, for services provided by Canaccord, the company has agreed to pay to Canaccord, a commission of 2% per flow-through unit for each accepted subscription solicited by Canaccord including any flow-through units subscribed for by Canaccord.
TThe prospectus also qualifies the distribution of an additional 3,508,193 common shares and 3,281,829 warrants issuable by the company for no additional consideration upon the deemed conversion of principal of the convertible promissory notes and the deemed exercise of bonus special warrants issued on March 21 1997 and the deemed exercise of private placement special warrants and agents special warrants issued on December 13 1996.

Proceeds of the offering will be used to pay for this balance of the 1997 Cypress Donner work program on the South Voisey's Bay joint venture property, to pay for further exploration on the Cypress Donner property, to pay the 2% commission to the agent, to pay the remaining cost of the rights offering; and to pay six months of non-exploration expenses. br />  
1993-03-10 15:33 MT - EOP Date Fixed
Effective date:  March 2 1993
Offering date:  March 11 1993
Expiry date:  May 29 1993
Trade date:  Tba
Offering:  600,000 units consisting of one share and two A warrants
Price:  $0.55
Wt to buy one share:  Two
Wt exercise price:  $0.65
Wt expiry date:  One year from trade date
Agents:  Canaccord (300,000); Georgia Pacific (300,000)
Agents Wt:  For 150,000 shares
Wt exercise price:  $0.65
Wt expiry date:  One year from trade date
Greenshoe option:  Maximum of 90,000 shares for 60 calendar days from offering date
Directors:  L.J. Bintner, A.E. Turton, K.F. Cugnet, N.E. Wade, D.J.L. Williams, C.E. Wilson
Trading symbol:  CYP
Security No:  212458
Cusip No:  232922 10 4
Wt trading symbol:  CYP.WT.A
Wt security No:  883994
Wt Cusip No:  232922 11 2