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,JN=dO NV SIX BVXLN03 ZHJ (M NOIJ VWSZMd3X XNV GWVXBXX3H G3XWO SmMfl33S 3HX JO WWM ~HJ Nodn uxssvd~ VA XNVNI SVH VUVNV~ NI mxoHJnv xp71w1s xo NOISSIWW~ sz1~mn33 ON

The followirq is a sumnary of the principal features of t h i s Offering. More detai led information is contained in the k d y of the Prospectus:

The Offering: 450,000 ccmnon shares a t pr ice of $0.35 through the f a c i l i t i e s of the Vancower Stock Exchange, pursuant to the I ssuer ' s conditional l i s t i n g cn t ha t Exchange. Refer to "Plan of Distribution" on page 1 f o r further de ta i l s .

Proceeds to the Issuer:

The Property: The Issuer is the holder of an option t o purchase a 100% in t e re s t i n and to the mineral claim recorded under the m e Hawk No. 1 encanpassing 20 uni t s i n the Fort Steele Mining Division, Province of Er i t i sh Colmbia. k f e r to "kquis i t ions" on page 2 f o r fur ther de ta i l s .

Use of Proceeds: To ccmiplete a Phase I1 exploration program recamended on the Hawk No. 1 mineral claim located in the Fort Steele Mining Division, i n the Province of Bri t ish Cblmbia, in accordance with the tecom mendations received from the I ssuer ' s consulting engineers. B f e r t o "Use of Proceeds" cn page 5 fo r fur ther de ta i l s .

Dilution:

-anent :

Risk Factors:

The Issuer:

The issue price to the p lb l ic exceeds the net tangible took value per amon share calculated as a t June 30, 1987, a f t e r giving e f f e c t to the Offering, by $0.19 o r 54.29%.

Paul Shatzko - Chief Executive Officer, President, and Director; Alice Usher - Chief Financial Officer, Secretary, and Director; David George Mark - Director; Harry Chew - Director.

The shares offered hereunder are speculative. There is rn market f o r the Issuer ' s shares. A purchase of the shares is subject to a number of r i sk factors , par t iculars of which are s e t forth on page 6 under the heading "Risk Factors."

The Issuer was i n c o w r a t e d on August 7, 1986 under the name Unique Resources Ltd. The Issuer is engaged in the business of acquiring, exploring and developing ~ t u r a l resource properties.

BAIANCE SHEET June 30, 1987

audited ~

Assets Liab i l i t i e s Current ....................... $14,353 Current ..................... $ 546 Mineral Claim ................. 20,000 Deferred Exploration Costs .... 90,151 Shareholders' Equit Incorporation Costs............ 792 Share Capital ............... '$124,750

TOTAL $125,296 TOTAL

UNIQUE RESOURCES LTD.

TABLE OF CONTENTS

PAGE

PLAN OF DISTRIBUTION ----------------------------- 1Offering and Appointmentof Agent ------------------------------------- 1

NAME AND INCORPORATION OF ISSUER ----------------- 2DESCRIPTION OF BUSINESS -------------------------- 2ACQUISITIONS ------------------------------------- 2THE PROPERTY ------------------------------------- 3USE OF PROCEEDS ---------------------------------- 5RISK FACTORS ------------------------------------- 6ISSUANCE OF SHARES ------------------------------- 7SHARE AND LOAN CAPITAL STRUCTURE ----------------- 7PRIOR SALES -------------------------------------- 8DIRECTORS AND OFFICERS --------------------------- 8OPTIONS TO PURCHASE SECURITIES ------------------- 8EXECUTIVE COMPENSATION --------------------------- 9PRINCIPAL HOLDERS OF SECURITIES ------------------ 10PROMOTERS ---------------------------------------- 11ESCROHED SHARES ---------------------------------- 11DIVIDEND RECORD ---------------------------------- 12INTEREST OF HANAGEMENT AND OTHERS IN MATERIAL

TRANSACTIONS ------------------------------------ 12AUDITORS, TRANSFER AGENTS AND REGISTRARS --------- 12INCORPORATION t'VITHIN ONE YEAR -

PRELIMINARY EXPENSES ---------------------------- 12MATERIAL CONTRACTS ------------------------------- 13OTHER MATERIAL FACTS ----------------------------- 13PURCHASERS' STATUTORY RIGHT OF WITHDRAWAL

AND RESCISSION --------------------------------- 13FINANCIAL STATEMENTSENGINEERING REPORTS AND LETTERS

CERTIFICATE

PLAN OF DISTRIBUTION

O f f e r i n g and Appointment of Agent

Unique Resources Ltd . ( t h e " I s s u e r " ) h a s e n t e r e d i n t o an Agreement d a t e d March 1 9 , 1987 u n d e r which t h e I s s u e r h a s a p p o i n t - e d Merit Inves tmen t C o r p o r a t i o n , o f 1500, 625 Howe S t r e e t , Vancouver , B r i t i s h Columbia, V6C 2T6, a s i t s a g e n t ( t h e "Agent" ) t o o f f e r ( t h e " O f f e r i n g " ) t o t h e p u b l i c t h r o u g h t h e f a c i l i t i e s o f t h e Vancouver S t o c k Exchange ( t h e "Exchange") 450,000 s h a r e s ( t h e " S h a r e s " ) o f t h e I s s u e r a t a p u r c h a s e p r i c e o f $0.35 p e r S h a r e . The O f f e r i n g w i l l be made i n a c c o r d a n c e w i t h t h e r u l e s and p o l i c i e s o f t h e Exchange on a day ( t h e " O f f e r i n g Day") de t e rmined by t h e Agent and t h e I s s u e r w i t h t h e c o n s e n t o f t h e Exchange, w i t h i n a p e r i o d o f 180 d a y s from t h e d a t e t h e S h a r e s o f t h e I s s u e r a r e c o n d i t i o n a l l y l i s t e d on t h e Exchange ( t h e " E f f e c t i v e D a t e " ) .

The Agent h a s a g r e e d t o p u r c h a s e any o f t h e S h a r e s n o t s o l d a t t h e c o n c l u s i o n o f t h e O f f e r i n g . I n c o n s i d e r a t i o n t h e r e - f o r , t h e Agent h a s been g r a n t e d n o n - t r a n s f e r a b l e s h a r e p u r c h a s e w a r r a n t s ( t h e "Agen t ' s W a r r a n t s " ) e n t i t l i n g it t o pu rchase up t o 112 ,500 common s h a r e s o f t h e I s s u e r a t a p r i c e o f $0.40 p e r s h a r e a t any t i m e up t o t h e close o f b u s i n e s s 180 d a y s f o l l o w i n g t h e d a t e o f l i s t i n g o f t h e I s s u e r ' s s h a r e s on t h e Exchange, b u t i n any e v e n t no l o n g e r t h a n 1 y e a r from t h e d a t e o f t h i s P r o s p e c t u s . The A g e n t ' s War ran t s w i l l c o n t a i n , among o t h e r t h i n g s , a n t i - d i l u t i o n p r o v i s i o n s and p r o v i s i o n s f o r a p p r o p r i a t e a d j u s t m e n t s i n t h e c l a s s , number and p r i c e o f s h a r e s i s s u a b l e p u r s u a n t t o any exe r - c i s e t h e r e o f upon t h e o c c u r r e n c e o f c e r t a i n s t a t e d e v e n t s i n c l u d - i n g any s u b d i v i s i o n , c o n s o l i d a t i o n o r r e - c l a s s i f i c a t i o n o f t h e s h a r e s o r t h e payment o f s t o c k d i v i d e n d s .

The Agent w i l l r e c e i v e a commission o f $0.03 p e r S h a r e .

The Agent r e s e r v e s t h e r i g h t t o o f f e r s e l l i n g g roup p a r t i c i p a t i o n i n t h e normal c o u r s e o f t h e b r o k e r a g e b u s i n e s s t o s e l l i n g g r o u p s o f o t h e r l i c e n c e d b r o k e r d e a l e r s , b r o k e r s and i n v e s t m e n t d e a l e r s , who may o r may n o t b e o f f e r e d p a r t o f t h e i

commiss ions o r bonuses d e r i v e d from t h i s O f f e r i n g .

The o b l i g a t i o n s o f t h e Agent under t h e Agency Agreement may be t e r m i n a t e d by t h e Agent b e f o r e t h e opening of t h e marke t on t h e O f f e r i n g Day on t h e b a s i s o f i t s a s s e s s m e n t o f t h e s t a t e o f t h e f i n a n c i a l m a r k e t s and upon t h e o c c u r r e n c e o f c e r t a i n s t a t e d e v e n t s t h e r e i n .

The p e r s o n s h o l d i n g n o t l e s s t h a n a 5 % i n t e r e s t i n t h e Agent a r e Myron G o t t l i e b , Ronald Woods, Angelo C o m i , Ba r ry Kasman, Frank Holmes, P a u l Chalmers , and K a r l Zimmerman.

Except a s r e f e r r e d t o h e r e i n , t h e r e a r e no o t h e r pay- m e n t s i n c a s h , s e c u r i t i e s o r o t h e r c o n s i d e r a t i o n be ing made o r t o

b e made t o a p r o m o t e r , f i n d e r o r any o t h e r p e r s o n o r company i n c o n n e c t i o n w i t h t h e O f f e r i n g .

The D i r e c t o r s , O f f i c e r s and o t h e r I n s i d e r s of t h e I s s u e r may p u r c h a s e s h a r e s from t h i s O f f e r i n g .

The Vancouver S t o c k Exchange h a s c o n d i t i o n a l l y l i s t e d t h e s e c u r i t i e s b e i n g o f f e r e d p u r s u a n t t o t h i s P r o s p e c t u s . L i s t i n g is s u b j e c t t o t h e I s s u e r f u l f i l l i n g a l l o f t h e l i s t i n g r e q u i r e - men t s o f t h e Vancouver S t o c k Exchange on o r b e f o r e Februa ry 8 , 1988, i n c l u d i n g p r e s c r i b e d d i s t r i b u t i o n and f i n a n c i a l r e q u i r e - ments .

The I s s u e r h a s g r a n t e d t h e Agent a r i g h t o f f i r s t r e f u s a l w i t h r e s p e c t t o any f u t u r e e q u i t y f i n a n c i n g s i t may r e q u i r e d u r i n g t h e 12 month p e r i o d f o l l o w i n g t h e E f f e c t i v e Date .

A d d i t i o n a l O f f e r i n g

T h i s P r o s p e c t u s a l s o q u a l i f i e s f o r s a l e t o t h e p u b l i c a t t h e marke t p r i c e p r e v a i l i n g a t t h e time o f t h e sa le , any s h a r e s pu rchased by t h e Agent h e r e u n d e r and any o f t h e common s h a r e s which may be a c q u i r e d on t h e e x e r c i s e o f t h e A g e n t ' s War ran t s a t a n y t i m e up t o 180 d a y s from t h e l i s t i n g o f t h e I s s u e r ' s s h a r e s on t h e Exchange, b u t n o t more t h a n 1 y e a r f rom t h e d a t e o f t h i s P r o s p e c t u s . The I s s u e r w i l l n o t r e c e i v e any p r o c e e d s from t h e s a l e o f any s u c h s h a r e s by t h e Agent , a l l o f which p r o c e e d s w i l l i n s u c h e v e n t a c c r u e to t h e Agent . The cost o f q u a l i f y i n g any s h a r e s pu rchased by t h e Agent f o r s a l e under t h i s P r o s p e c t u s w i l l be b o r n e by t h e I s s u e r .

NAME AND INCORPORATION OF ISSUER

The I s s u e r was i n c o r p o r a t e d unde r t h e laws o f t h e P r o v i n c e o f B r i t i s h Columbia unde r t h e name Unique Resources Ltd . b y r e g i s t r a t i o n o f its Memorandum and Ar t ic les on August 7 , 1986. The I s s u e r ' s r e g i s t e r e d o f f i c e is l o c a t e d a t S u i t e 708, 1111 West H a s t i n g s S t r e e t , Vancouver, B r i t i s h Columbia, V6E 2J3. The I s s u e r ' s head o f f i c e and p r i n c i p a l o f f i c e is l o c a t e d a t 605 - 475 H o w e S t r e e t , Vancouver , B r i t i s h Columbia, V6C 2B3.

DESCRIPTION OF BUSINESS

The I s s u e r is a n a t u r a l r e s o u r c e company engaged i n t h e a c q u i s i t i o n , e x p l o r a t i o n and development o f n a t u r a l r e s o u r c e p r o p e r t i e s . The I s s u e r owns o r h a s an i n t e r e s t i n t h e p r o p e r t y d e s c r i b e d unde r t h e head ing "The P r o p e r t y " and i n t e n d s t o s e e k and a c q u i r e a d d i t i o n a l p r o p e r t i e s wor thy o f e x p l o r a t i o n and deve lop - ment .

ACQUISITIONS

The I s s u e r is t h e h o l d e r o f t h e r i g h t t o p u r c h a s e a 100% i n t e r e s t i n and t o a l o c a t e d m i n e r a l c l a i m encompassing 20 m i n e r a l u n i t s l o c a t e d i n t h e F o r t S t e e l e Mining D i s t r i c t , o f t h e P r o v i n c e of B r i t i s h Columbia ( t h e " c l a i m " ) , and d e s c r i b e d a s f o l l o w s :

Name of Claim Number of Units Record Number Hawk No. 1 2 0 2283

The Issuer acquired its right to purchase the claim under an Agreement dated October 22, 1986, as amended by letter agreement dated June 17, 1987 and June 30, 1987, entered into with Trans- Arctic Explorations Ltd. ("Trans-Arctic"), of Suite 815, 850 West Hastings Street, Vancouver, British Columbia (the "Trans- Arctic Agreement").

In order for the Issuer to purchase a 100% interest in and to the claim, the Issuer must pay Trans-Arctic $60,000 and issue and allot 40,000 common shares of its capital stock to Trans-Arctic as follows:

(a) pay Trans-Arctic, on execution of the Trans-Arctic Agreement, $5,000 (which amount has been paid);

(b) pay Trans-Arctic, on or before October 31, 1986, $15,000 (which amount has been paid);

(c) pay Trans-Arctic, on or before October 1, 1987, an additional $10,000;

(d) pay Trans-Arctic, on or before August 1, 1988, an additional $15,000;

(e) pay Trans-Arctic, on or before August 1, 1989, an additional $15,000; and

(f) issue and allot to Trans-Arctic 40,000 fully paid and non-assessable shares of the Issuer's capital stock upon the Issuer's shares becoming listed, posted and called for trading on the Vancouver Stock Exchange. If such listing does not occur on or before September 30, 1987, the Issuer will be in default of the Trans-Arctic Agree- ment and subject to its default provisions.

Additionally, the Issuer must pay to Trans-Arctic a net profits royalty equal to 10% of net profits calculated on products derived from the claim in accordance with a formula outlined in the Trans-Arctic Agreement. If the Issuer pays to Trans-Arctic the sum of $500,000 from either 10% of net profits or lump sum payment on or before five years from the date of commencement of commercial production, the Issuer's obligation to pay the 10% net profits royalty ceases.

THE PROPERTY

The Hawk No. 1 mineral claim is comprised of 20 mineral units and is located in the Fort Steele Mining Division, in the Province of British Columbia. The claim is south of Kimberley and south-west of Cranbrook, British Columbia. The claim is located on the divide between Perry Creek and Hellroaring Creek on the west side of Perry Creek close to its head waters. Access to the claim is gained by taking Highway 95A from Cranbrook approximately 15 kilometers and turning south on the LJycliffe Road and continu-

i n g t h e r e o n f o r a p p r o x i m a t e l y 1 . 7 k i l o m e t e r s and t u r n i n g r i g h t o r w e s t on t h e P e r r y Creek Road and c o n t i n u i n g f o r a t o t a l o f approx- i m a t e l y 33 k i l o m e t e r s from t h e W y c l i f f e t u r n o f f t o BR A (Logging Road Branch A . ) . S l i g h t l y more t h a n one k i l o m e t e r up road BR A , t h e a c c e s s r o a d t o t h e c l a i m h e a d s south-wes t up t h e h i l l p a s t an o l d c a b i n , l a k e s and workings a t an e l e v a t i o n o f 6 ,600 f e e t wes t up t o t h e r i d g e crest a t an e l e v a t i o n o f 7 ,200 f e e t . T h i s p a r t o f t h e a c c e s s r o a d w i l l need upgrad ing b e f o r e i t can be used by a wheeled v e h i c l e , and is p r e s e n t l y s u i t a b l e o n l y f o r b u l l d o z e r s and e x c a v a t o r s .

The P e r r y Creek d r a i n a g e , b e i n g t h e a r e a i n which t h e c l a i m is s i t u a t e , h a s a h i s t o r y o f much e x p l o r a t i o n a c t i v i t y . Records f o r t h e a r e a g o back t o 1898, a l t h o u g h known h i s t o r y g o e s back t o t h e 1 8 7 0 ' s . The c l a i m is c o n s i d e r e d t o c o v e r t h e Old Yellow Meta l p r o p e r t y which, though known e a r l i e r , is r e p o r t e d i n t h e 1916 M i n i s t e r o f Mines Repor t . Government r e c o r d s i n d i c a t e l i t t l e i n f o r m a t i o n o f t h e c l a i m s i n c e t h a t t i m e , a l t h o u g h cons id - e r a b l e un reco rded e x p l o r a t i o n work h a s been done on t h e p r o p e r t y a s i n d i c a t e d by t h e many open c u t s and t r e n c h e s d i s c o v e r e d by t h e I s s u e r .

The o n l y r e c e n t work was comple ted i n t h e l a s t two y e a r s and i n c l u d e d p r o s p e c t i n g t o f i n d t h e o l d showings and a program of e x p l o r a t i o n conduc ted i n 1986 by G e o t r o n i c s Surveys L td . , p u r s u a n t t o e a r l i e r e n g i n e e r i n g recommendat ions.

P r e v i o u s p l a c e r o p e r a t i o n s have been conduc ted i n t h e modern c r e e k bed and a l s o i n t h e d e e p e r and presumably e a r l i e r g r a v e l s . E a r l y d i s c o v e r i e s o f l o d e g o l d d e p o s i t s i n t h e a r e a a p p e a r numerous, a l t h o u g h s u c h d i s c o v e r i e s by t h e e a r l y p r o s p e c t - o r s d o n o t a p p e a r t o have i n c l u d e d l a r g e h i g h g r a d e d e p o s i t s of t h e t y p e r e q u i r e d f o r p r o f i t a b i l i t y i n t h o s e days .

Accord ing t o a r e p o r t d a t e d J u n e , 1987, p r e p a r e d by Alex Bur ton o n t h e I s s u e r ' s p r o p e r t y ( t h e "Bur ton R e p o r t " ) , a copy o f which is h e r e u n t o annexed and fo rms p a r t o f t h i s P r o s p e c t u s :

U n i q u e ' s g e o p h y s i c a l and geochemica l s u r v e y s have conf i rmed t h e p r e s e n c e o f g o l d s o i l a n o m a l i e s , e l e c t r o - m a g n e t i c and m a g n e t i c a n o m a l i e s o v e r a r e a s t h a t r e p r e - s e n t s h a l l o w b u r i e d s h e a r zones .

The Bur ton Repor t s p e c i f i e s t h r e e zones o f i n t e r e s t on t h e c l a i m . The f i r s t zone c o n t a i n s a g i a n t q u a r t z v e i n which a p p e a r s t o c o n t a i n low g o l d v a l u e s . The v e i n i n t h e s u r r o u n d i n g r o c k is c u t by s m a l l e r , b e t t e r m i n e r a l i z e d q u a r t z g o l d b e a r i n g q u a r t z v e i n s .

I n t h e second zone , t h e s u r v e y s per formed show t h e p o s s i b i l i t y o f a s h e a r zone n e a r t h e n o r t h end of t h e n o r t h e r most l a k e on t h e p r o p e r t y , which a r e a r ema ins unexp lo red .

The t h i r d zone is t h e l a r g e s t and most i m p o r t a n t zone on t h e p r o p e r t y w i t h s a m p l i n g s r a t i n g f rom a t r a c e up to 1 oz . of g o l d p e r t o n . There is e v i d e n c e o f many o l d workings i n t h i s zone , and a c c o r d i n g t o t h e Bur ton Repor t :

The r i d g e zone s h e a r h a s e x c e l l e n t p o s s i b i l i t i e s of d e v e l o p i n g a l a r g e t o n n a g e o f g o l d b e a r i n g m a t e r i a l . The s h e a r e x t e n d s t h e f u l l l e n g t h ( 2 , 5 0 0 metres) o f t h e p r o p e r t y , and is somewhere between 50 and 100 metres wide. Sampling o f t h e o l d t r e n c h e s h a s shown g o l d v a l u e s a s h i g h a s 0.89 ounces p e r t o n .

The B u r t o n R e p o r t recommends a 1987 Phase I1 fo l low-up t o t h e 1986 work, which c o n s i s t e d o f t r a i l a c c e s s , g r i d l i n e s , VLF e l e c t r o m a g n e t i c s u r v e y s , a magnetometer s u r v e y , and a geochemica l s u r v e y a t a c o s t o f a p p r o x i m a t e l y $67,000. The Phase I1 work recommended c o n s i s t s o f upgrad ing t h e a c c e s s road t o 4 x 4 q u a l i - t y , e x t e n d i n g t h e g r i d s f o r t h e VLF, magnetometer and geochemica l s u r v e y s , t r e n c h i n g and sampl ing a c r o s s e a c h o f t h e s h e a r zones a t s e l e c t e d s i t e s f o r t h e f u l l l e n g t h o f t h e s h e a r s , a t an e s t i m a t e d c o s t o f $42,000. S u b j e c t t o s a t i s f a c t o r y resu l t s from Phase 11, t h e Bur ton R e p o r t recommends diamond d r i l l i n g a c r o s s t a r g e t s i n t h e s h e a r zones a t a c o s t o f $48 ,000 f o r a t o t a l Phase I1 and Phase I11 c o s t o f $90,000.

T h e r e is no p l a n t or equipment l o c a t e d on or under t h e c l a i m and t h e c l a i m is w i t h o u t a known body o f commercial o r e . No D i r e c t o r , O f f i c e r , I n s i d e r o r Promoter o f t h e I s s u e r h a s an i n t e r - est i n t h e m i n e r a l p r o p e r t i e s l o c a t e d c o n t i g u o u s l y t o t h e c l a im.

USE OF PROCEEDS

The n e t p r o c e e d s t o be d e r i v e d by t h e I s s u e r from t h e s a l e o f 450,000 s h a r e s o f f e r e d by t h i s P r o s p e c t u s , namely $144,000 t o g e t h e r w i t h working c a p i t a l i n t h e amount o f $13,807 a s a t J u n e 30 , 1987 w i l l be used f o r t h e f o l l o w i n g pu rposes :

1. To pay t h e l e g a l , a u d i t and p r i n t i n g e x p e n s e s o f t h i s P r o s p e c t u s , e s t i m a t e d n o t t o exceed: $ 20,000

Payment on o r b e f o r e Oc tobe r 1, 1987 t o m a i n t a i n p r o p e r t y o p t i o n : 10,000

To comple t e t h e Phase 11 e x p l o r a t i o n program on t h e Hawk No. 1 m i n e r a l c l a i m i n a c c o r d a n c e w i t h t h e recomrnend- a t i o n s o f Alex Bur ton , P.Eng. a s c o n t a i n e d i n t h e Bur ton R e p o r t : 42,000

Reserve t o comple t e t h e Phase 111 e x p l o r a t i o n program on t h e Hawk NO. 1 m i n e r a l c l a i m i n acco rdance w i t h t h e r e c o r n e n d a t i o n s o f Alex B u r t o n , P.Eng. a s c o n t a i n e d i n t h e Bur ton Repor t : 48,000

Working C a p i t a l Remainder:

TOTAL

The u n a l l o c a t e d p o r t i o n o f t h e n e t p r o c e e d s t o t h e I s s u e r is b e i n g set a s i d e f o r working c a p i t a l t o e n s u r e t h a t t h e b u s i n e s s o f t h e I s s u e r c a n be funded a f t e r t h e r e s u l t s of t h e Phase I1 recommended e x p l o r a t i o n program a r e known.

The Issuer may, p u r s u a n t t o t h e w r i t t e n recommendat ions o f a q u a l i f i e d e n g i n e e r , abandon i n whole o r i n any p a r t any of i ts p r o p e r t i e s , or may a l t e r a s work p r o g r e s s e s , t h e work program recommended o r may make s u c h a r r a n g e m e n t s f o r t h e per formance of a l l o r any p o r t i o n o f s u c h work by o t h e r p e r s o n s o r companies and may u s e any monies s o d i v e r t e d f o r t h e pu rpose o f c o n d u c t i n g work o r examining o t h e r p r o p e r t i e s a c q u i r e d by t h e I s s u e r a f t e r t h e d a t e o f t h i s P r o s p e c t u s , a l t h o u g h t h e I s s u e r h a s no p r e s e n t p l a n s i n t h i s r e g a r d . I f a n y s u c h e v e n t o c c u r s d u r i n g t h e p r i m a r y d i s t r i b u t i o n o f t h e S h a r e s r e f e r r e d t o i n t h i s P r o s p e c t u s , an amendment t o t h i s P r o s p e c t u s w i l l be f i l e d . I f any s u c h e v e n t o c c u r s a f t e r p r i m a r y d i s t r i b u t i o n o f t h e S h a r e s , t h e s h a r e h o l d e r s w i l l be n o t i f i e d .

No p a r t o f t h e p r o c e e d s w i l l be used t o i n v e s t , under- w r i t e o r t r a d e i n s e c u r i t i e s , o t h e r t h a n t h o s e t h a t q u a l i f y a s an i n v e s t m e n t i n which t r u s t f u n d s may be i n v e s t e d under t h e laws of t h e j u r i s d i c t i o n i n which t h e s e c u r i t i e s o f f e r e d by t h i s P r o s p e c t - u s may be l a w f u l l y s o l d . Should t h e Issuer i n t e n d t o u s e t h e p r o c e e d s t o a c q u i r e o t h e r t h a n t r u s t e e - t y p e s e c u r i t i e s a f t e r t h e d i s t r i b u t i o n o f t h e s e c u r i t i e s o f f e r e d by t h i s P r o s p e c t u s , approv- a l by t h e s h a r e h o l d e r s o f t h e I ssuer must f i r s t be o b t a i n e d and n o t i c e o f t h e i n t e n t i o n m u s t be f i l e d w i t h t h e r e g u l a t o r y b o d i e s h a v i n g j u r i s d i c t i o n o v e r t h e s a l e o f t h e s e c u r i t i e s o f f e r e d by t h i s P r o s p e c t u s .

R I S K FACTORS

A. Mine ra l e x p l o r a t i o n and development is i n h e r e n t l y specu- l a t i v e and c a r r i e s w i t h it many r i s k s t h a t even t h e most c a r e f u l e v a l u a t i o n and management c a n n o t overcome. There is no a s s u r a n c e t h a t any p r o d u c t i o n w i l l be o b t a i n e d . I f p r o d u c t i o n is o b t a i n e d , p r i c e s r e c e i v e d a r e s u b j e c t t o marke t f l u c t u a t i o n s .

B. No s u r v e y h a s been made o f t h e l o c a t e d m i n e r a l c l a i m h e l d under o p t i o n by t h e I s s u e r and , i n acco rdance w i t h t h e mining l aws o f t h e j u r i s d i c t i o n i n which t h e c l a i m is s i t u a t e , i t s p r e c i s e l o c a t i o n and a r e a may be i n doub t .

C. Mining o p e r a t i o n s g e n e r a l l y i n v o l v e a h i g h d e g r e e o f r i s k . Hazards s u c h a s unusua l o r unexpec ted f o r m a t i o n s and o t h e r c o n d i t i o n s a r e i n v o l v e d . The I s s u e r may become s u b j e c t t o l i a b i l - i t y f o r p o l l u t i o n , c a v e - i n s o r h a z a r d s a g a i n s t which it c a n n o t

SUMMARY OF P ~ P E C I U S

The followirg is a smary of the principal features of t h i s Offering. More de t a i l ed information is contained in the body of the Prospectus:

The Offering: 450,000 cannon shares a t p r ice of $0.35 through the f a c i l i t i e s of t he Vancower Stock EStchange, pursuant to the I s suer ' s condit ional l i s t i n g on t h a t Exchange. Refer to "Plan of Distr ibution" on page 1 f o r fu r ther de t a i l s .

Proceeds to the Issuer:

The Property: The Issuer is the holder of an option to plrchase a 100% i n t e r e s t i n and t o the mineral claim recorded under the name Hawk No. 1 encanpassing 20 u n i t s in the Fort S tee le Mining Division, Province of Br i t i sh Colunbia. Wfer to "Fcquisitionsn on page 2 f o r f u r the r de t a i l s .

Use of Proceeds: To complete a Phase I1 exploration program recomnended on the Hawk No. 1 mineral claim located in the Fort S tee le Mining Division, in the Province of Br i t i sh Columbia, i n accordance with the mom mendations received £ram the I s sue r ' s consulting engineers. Refer to "Use of Proceeds" on page 5 f o r fu r ther de t a i l s .

Dilution:

Management :

Risk Factors:

The Issuer:

The issue pr ice to the p l b l i c exceeds the net tangible book value per c m o n share calculated as a t June 30, 1987, a f t e r giving e f f e c t to the Offering, by $0.19 or 54.29%.

Paul Shatzko - Chief Executive Off icer , President, and Director; A 1 ice Usher - Chief Financial Officer , Secretary, and Director ; David George Mark - Director; Harry Chew - Director.

The shares offered hereunder are speculative. There is m market f o r the I s sue r ' s shares. A purchase of the shares is subject to a number of r i sk fac tors , pa r t i cu l a r s of which are set for th on page 6 under the heading "Risk Factors."

The Issuer was incorporated on August 7, 1986 under the m e Unique Resources Ltd. The Issuer is engaged in the business of acquiring, exploring and developing natural resource propert ies.

BALANCE SHEET June 30, 1987

audited Assets Liabilities

Current ....................... $14,353 Current ..................... $ 546 Mineral C l a i m ................. 20,000 Deferred Exploration Costs .... 90,151 Incorporation Costs............ 792

TOTAL

Shareholders8 Equity Share Capital ............... $124,750

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be made t o a p r o m o t e r , f i n d e r o r any o t h e r p e r s o n o r company i n c o n n e c t i o n w i t h t h e O f f e r i n g .

The Directors , O f f i c e r s and o t h e r I n s i d e r s o f t h e I s s u e r may p u r c h a s e s h a r e s f rom t h i s O f f e r i n g .

The Vancouver S t o c k Exchange h a s c o n d i t i o n a l l y l i s t e d t h e s e c u r i t i e s b e i n g o f f e r e d p u r s u a n t t o t h i s P r o s p e c t u s . L i s t i n g is s u b j e c t t o t h e I s s u e r f u l f i l l i n g a l l o f t h e l i s t i n g r e q u i r e - m e n t s o f t h e Vancouver S t o c k Exchange o n o r b e f o r e F e b r u a r y 8 , 1 9 8 8 , i n c l u d i n g p r e s c r i b e d d i s t r i b u t i o n and f i n a n c i a l r e q u i r e - m e n t s ,

The I s s u e r h a s g r a n t e d t h e Agent a r i g h t o f f i r s t r e f u s a l w i t h r e s p e c t t o a n y f u t u r e e q u i t y f i n a n c i n g s it may r e q u i r e d u r i n g t h e 12 month p e r i o d f o l l o w i n g t h e E f f e c t i v e Date.

Additional Offerina

T h i s P r o s p e c t u s a lso q u a l i f i e s f o r sa le to t h e p u b l i c a t t h e m a r k e t p r i c e p r e v a i l i n g a t t h e t i m e o f t h e s a l e , a n y s h a r e s p u r c h a s e d by t h e Agent h e r e u n d e r and a n y o f t h e common s h a r e s which may b e a c q u i r e d o n t h e e x e r c i s e o f t h e A g e n t ' s W a r r a n t s a t a n y t i m e up t o 180 d a y s f rom t h e l i s t i n g o f t h e I s s u e r ' s s h a r e s on t h e Exchange, b u t n o t more t h a n 1 y e a r f rom t h e d a t e o f t h i s P r o s p e c t u s . The I s s u e r w i l l n o t r e c e i v e a n y p r o c e e d s f rom t h e s a l e o f a n y s u c h s h a r e s by t h e A g e n t , a l l o f which p r o c e e d s w i l l i n s u c h e v e n t a c c r u e to t h e Agent . The cost o f q u a l i f y i n g a n y s h a r e s p u r c h a s e d by t h e Agent f o r s a l e u n d e r t h i s P r o s p e c t u s w i l l b e b o r n e by t h e I s s u e r .

NAME AND INCORPORATION OF ISSUER

The I s s u e r was i n c o r p o r a t e d u n d e r t h e laws o f t h e P r o v i n c e o f B r i t i s h Columbia u n d e r t h e name Unique R e s o u r c e s L td . b y r e g i s t r a t i o n o f i t s Memorandum and Art ic les on August 7 , 1986. The I s s u e r ' s r e g i s t e r e d o f f i c e is l o c a t e d a t S u i t e 708 , 1111 West H a s t i n g s S t r e e t , Vancouver , B r i t i s h Columbia , V6E 253. The I s s u e r ' s head o f f i c e and p r i n c i p a l o f f i c e is l o c a t e d a t 605 - 475 Howe S t r e e t , Vancouver , B r i t i s h Columbia , V6C 2B3,

DESCRIPTION OF BUSINESS

The I s s u e r is a n a t u r a l r e s o u r c e company engaged i n t h e a c q u i s i t i o n , e x p l o r a t i o n and deve lopmen t o f n a t u r a l r e s o u r c e p r o p e r t i e s . The I s s u e r owns or h a s a n i n t e r e s t i n t h e p r o p e r t y d e s c r i b e d u n d e r t h e h e a d i n g "The P r o p e r t y " and i n t e n d s t o s e e k and a c q u i r e a d d i t i o n a l p r o p e r t i e s w o r t h y o f e x p l o r a t i o n and d e v e l o p - men t ,

ACQUISITIONS

The I s s u e r is t h e h o l d e r o f t h e r i g h t to p u r c h a s e a 1 0 0 % i n t e r e s t i n and t o a l o c a t e d m i n e r a l claim encompass ing 20 m i n e r a l u n i t s l o c a t e d i n t h e F o r t S t e e l e Mining D i s t r i c t , o f t h e P r o v i n c e o f B r i t i s h Columbia ( t h e " c l a i m " ) , and d e s c r i b e d as f o l l o w s :

N a m e of C l a i m N u m b e r of U n i t s R e c o r d N u m b e r Hawk N o . 1 20 2283

The I s s u e r a c q u i r e d i t s r i g h t t o p u r c h a s e t h e claim u n d e r a n Agreement d a t e d O c t o b e r 22 , 1986 , a s amended by l e t t e r a g r e e m e n t d a t e d J u n e 1 7 , 1987 and J u n e 3 0 , 1987 , e n t e r e d i n t o w i t h T r a n s - Arc t ic E x p l o r a t i o n s L td . ( " T r a n s - A r c t i c " ) , o f S u i t e 8 1 5 , 850 West ~ a s t i n g s S t r e e t , Vancouver , B r i t i s h Columbia ( t h e "Trans- Arct ic Agreement" ) .

I n o r d e r f o r t h e I s s u e r t o p u r c h a s e a 100% i n t e r e s t i n and t o t h e claim, t h e I s s u e r mus t p a y T r a n s - A r c t i c $60 ,000 and i s s u e and a l l o t 40 ,000 common s h a r e s o f i t s c a p i t a l s t o c k t o T r a n s - A r c t i c a s f o l l o w s :

( a ) pay T r a n s - A r c t i c , on e x e c u t i o n o f t h e T r a n s - A r c t i c Agreement , $5 ,000 ( w h i c h amount h a s been p a i d ) ;

( b ) pay T r a n s - A r c t i c , o n o r b e f o r e O c t o b e r 31 , 1986 , $15,000 ( w h i c h amount h a s been p a i d ) ;

( c ) p a y T r a n s - A r c t i c , on or b e f o r e O c t o b e r 1, 1987 , an a d d i - t i o n a l $10 ,000 ;

( d ) pay T r a n s - A r c t i c , o n o r b e f o r e Augus t 1, 1988 , a n a d d i - t i o n a l $15 ,000 ;

( e ) p a y T r a n s - A r c t i c , on o r b e f o r e Augus t 1, 1989 , an a d d i - t i o n a l $15 ,000 ; and

( f ) i s s u e and a l l o t t o T r a n s - A r c t i c 40 ,000 f u l l y p a i d and n o n - a s s e s s a b l e s h a r e s o f t h e I s s u e r ' s c a p i t a l s t o c k upon t h e I s s u e r ' s s h a r e s becoming l i s t e d , p o s t e d and c a l l e d f o r t r a d i n g o n t h e Vancouver S t o c k Exchange. I f s u c h l i s t i n g d o e s n o t o c c u r on o r b e f o r e Sep tember 30 , 1987 , t h e I s s u e r w i l l b e i n d e f a u l t o f t h e T r a n s - A r c t i c Agree- ment and s u b j e c t t o i t s d e f a u l t p r o v i s i o n s .

A d d i t i o n a l l y , t h e I s s u e r mus t pay t o T r a n s - A r c t i c a n e t p r o f i t s r o y a l t y e q u a l t o 1 0 % o f n e t p r o f i t s c a l c u l a t e d on p r o d u c t s d e r i v e d f rom t h e claim i n a c c o r d a n c e w i t h a f o r m u l a o u t l i n e d i n t h e T r a n s - A r c t i c Agreement . I f t h e I s s u e r p a y s t o T r a n s - A r c t i c t h e sum o f $500 ,000 f rom e i t h e r 1 0 % o f n e t p r o f i t s or lump sum payment o n o r b e f o r e f i v e y e a r s f rom t h e d a t e o f commencement o f commerc i a l p r o d u c t i o n , t h e I s s u e r ' s o b l i g a t i o n t o pay t h e 1 0 % n e t p r o f i t s r o y a l t y c e a s e s .

THE PROPERTY

The Hawk N o . 1 m i n e r a l c l a i m is compr i s ed o f 20 m i n e r a l u n i t s and is l o c a t e d i n t h e F o r t S t e e l e Mining D i v i s i o n , i n t h e P r o v i n c e o f ~ r i t i s h Columbia . The c l a i m is s o u t h o f K imber l ey and s o u t h - w e s t o f C ranb rook , B r i t i s h Columbia . The c l a i m is l o c a t e d o n t h e d i v i d e be tween P e r r y Creek and H e l l r o a r i n g Creek on t h e w e s t s i d e o f P e r r y Creek c l o s e t o i t s head w a t e r s . Access to t h e c l a i m is g a i n e d by t a k i n g Highway 95A f rom Cranb rook a p p r o x i m a t e l y 1 5 k i l o m e t e r s and t u r n i n g s o u t h on t h e b J y c l i f f e Road and c o n t i n u -

i n g t h e r e o n f o r a p p r o x i m a t e l y 1 . 7 k i l o m e t e r s and t u r n i n g r i g h t or w e s t o n t h e P e r r y Creek Road and c o n t i n u i n g f o r a t o t a l o f approx- i m a t e l y 3 3 kilometers f rom t h e W y c l i f f e t u r n o f f t o BR A (Logg ing Road Branch A. ) . S l i g h t l y more t h a n o n e k i l o m e t e r up r o a d BR A , t h e a c c e s s r o a d t o t h e c l a i m h e a d s sou th -wes t up t h e h i l l p a s t an o ld c a b i n , l a k e s and w o r k i n g s a t a n e l e v a t i o n o f 6 ,600 f e e t w e s t u p t o t h e r i d g e crest a t an e l e v a t i o n o f 7 ,200 f e e t . T h i s p a r t o f t h e access r o a d w i l l need u p g r a d i n g b e f o r e i t c a n be u sed by a whee l ed v e h i c l e , and is p r e s e n t l y s u i t a b l e o n l y f o r b u l l d o z e r s and e x c a v a t o r s .

The P e r r y Creek d r a i n a g e , b e i n g t h e a r e a i n which t h e claim is s i t u a t e , h a s a h i s t o r y o f much e x p l o r a t i o n a c t i v i t y . R e c o r d s f o r t h e a r e a g o back t o 1898 , a l t h o u g h known h i s t o r y g o e s back t o t h e 1 8 7 0 ' s . The claim is c o n s i d e r e d t o c o v e r t h e Old Y e l l o w Metal p r o p e r t y wh ich , t hough known e a r l i e r , is r e p o r t e d i n t h e 1916 M i n i s t e r o f Mines R e p o r t . Government r e c o r d s i n d i c a t e l i t t l e i n f o r m a t i o n o f t h e claim s i n c e t h a t t i m e , a l t h o u g h c o n s i d - e r a b l e u n r e c o r d e d e x p l o r a t i o n work h a s been done on t h e p r o p e r t y a s i n d i c a t e d by t h e many open c u t s and t r e n c h e s d i s c o v e r e d by t h e I s s u e r .

The o n l y r e c e n t work w a s c o m p l e t e d i n t h e l a s t t w o y e a r s a n d i n c l u d e d p r o s p e c t i n g t o f i n d t h e o l d showings and a p rogram o f e x p l o r a t i o n c o n d u c t e d i n 1986 by G e o t r o n i c s S u r v e y s L t d . , p u r s u a n t t o ear l ier e n g i n e e r i n g recommendat ions .

P r e v i o u s p l a c e r o p e r a t i o n s h a v e been c o n d u c t e d i n t h e modern c r e e k bed and a l s o i n t h e d e e p e r and p r e s u m a b l y e a r l i e r g r a v e l s . E a r l y d i s c o v e r i e s o f l o d e g o l d d e p o s i t s i n t h e a r e a a p p e a r numerous , a l t h o u g h s u c h d i s c o v e r i e s by t h e e a r l y p r o s p e c t - o r s d o n o t a p p e a r t o h a v e i n c l u d e d l a r g e h i g h g r a d e d e p o s i t s o f t h e t y p e r e q u i r e d f o r p r o f i t a b i l i t y i n t h o s e d a y s .

A c c o r d i n g to a r e p o r t d a t e d J u n e , 1987 , p r e p a r e d by Alex B u r t o n o n t h e I s s u e r ' s p r o p e r t y ( t h e "Bur ton R e p o r t " ) , a copy o f wh ich is h e r e u n t o annexed and fo rms p a r t o f t h i s P r o s p e c t u s :

U n i q u e ' s g e o p h y s i c a l and g e o c h e m i c a l s u r v e y s h a v e con£ i rmed t h e p r e s e n c e o f g o l d s o i l anomal ies , electro- m a g n e t i c and m a g n e t i c a n o m a l i e s o v e r a r e a s t h a t r e p r e - s e n t s h a l l o w b u r i e d s h e a r zones .

The B u r t o n R e p o r t s p e c i f i e s t h r e e z o n e s o f i n t e r e s t on t h e claim. The f i r s t zone c o n t a i n s a g i a n t q u a r t z v e i n which a p p e a r s t o c o n t a i n l o w g o l d v a l u e s . The v e i n i n t h e s u r r o u n d i n g r o c k is c u t by s m a l l e r , b e t t e r m i n e r a l i z e d q u a r t z g o l d b e a r i n g q u a r t z v e i n s .

I n t h e s e c o n d z o n e , t h e s u r v e y s pe r fo rmed show t h e p o s s i b i l i t y o f a s h e a r zone n e a r t h e n o r t h end of t h e n o r t h e r most l a k e on t h e p r o p e r t y , which a r e a r e m a i n s u n e x p l o r e d .

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Working Capital Remainder:

TOTAL

$ 37,807

$157,807

The unallocated portion of the net proceeds to theIssuer is being set aside for working capital to ensure that thebusiness of the Issuer can be funded after the resul ts of thePhase II recommended exploration program are known.

The Issuer may, pursuant to the written recommendationsof a qualified engineer, abandon in whole or in any part any ofits properties, or may alter as work progresses, the work programrecommended or may make such arrangements for the performance ofall or any portion of such work by other persons or companies andmay use any monies so diverted for the purpose of conducting workor examining other properties acquired by the Issuer after thedate of this Prospectus, although the Issuer has no present plansin this regard. If any such event occurs during the primarydistribution of the Shares referred to in this Prospectus, anamendment to this Prospectus will be filed. If any such eventoccurs after primary distribution of the Shares, the shareholderswill be notified.

No part of the proceeds will be used to invest, underwrite or trade in securities, other than those that qualify as aninvestment in which trust funds may be invested under the laws ofthe jurisdiction in which the securities offered by this Prospectus may be lawfully sold. Should the Issuer intend to use theproceeds to acquire other than trustee-type securities after thedistribution of the securities offered by this Prospectus, approval by the shareholders of the Issuer must first be obtained andnotice of the intention must be filed with the regulatory bodieshaving jurisdiction over the sale of the securities offered bythis Prospectus.

RISK FACTORS

A. Mineral exploration and development is inherently speculative and carries with it many risks that even the most carefulevaluation and management cannot overcome. There is no assurancethat any production will be obtained. If production is obtained,prices received are subject to market fluctuations.

B. No survey has been made of the located mineral claimheld under option by the Issuer and, in accordance with the mininglaws of the jurisdiction in which the claim is situate, itsprecise location and area may be in doubt.

C. Mining operations generally i nvol ve a high degree ofrisk. Hazards such as unusual or unexpected formations and otherconditions are involved. The Issuer may become subject to liability for pollution, cave-ins or hazards against which it cannot

i n s u r e o r a g a i n s t which i t may e lect n o t t o i n s u r e . The payment o f s u c h l i a b i l i t i e s may h a v e a mater ia l a d v e r s e e f f e c t on t h e I s s u e r ' s f i n a n c i a l p o s i t i o n .

D. The s p e c u l a t i v e n a t u r e o f t h e I s s u e r ' s b u s i n e s s makes it p r o b a b l e t h a t p u r c h a s e r s w i l l n o t r e a l i z e a p r o f i t on t h e s h a r e s p u r c h a s e d u n d e r t h e O f f e r i n g .

E . The i s s u e p r i c e t o t h e p u b l i c e x c e e d s t h e n e t t a n g i b l e book v a l u e p e r common s h a r e c a l c u l a t e d a t J u n e 30 , 1987 ( a f t e r g i v i n g e f f e c t t o t h e O f f e r i n g and t h e I s s u e r ' s payment o f s h a r e s t o m a i n t a i n i ts o p t i o n o n t h e Hawk No. 1 m i n e r a l c l a i m i n good s t a n d i n g ) by $0.19 o r 54 .29%.

F . The p e r c e n t a g e o f s h a r e s o f t h e I s s u e r b e i n g o f f e r e d to t h e p u b l i c f o r c a s h w i l l r e p r e s e n t 26.33% o f t h e s h a r e s i s s u e d and o u t s t a n d i n g upon c o m p l e t i o n o f t h e s a l e o f t h e S h a r e s q u a l i f i e d h e r e u n d e r a s compared t o 46 .17% wh ich w i l l be owned by c o n t r o l l i n g p e r s o n s , p r o m o t e r s , d i r e c t o r s and o f f i c e r s o f t h e I s s u e r .

ISSUANCE OF SHARES

The a u t h o r i z e d c a p i t a l o f t h e I s s u e r c o n s i s t s o f 20 ,000 ,000 common s h a r e s w i t h o u t p a r v a l u e , o f which 1 ,219 ,001 s h a r e s h a v e been i s s u e d and a l l o t t e d as f u l l y p a i d and non -a s se s s - a b l e s h a r e s . A l l o f t h e s h a r e s o f t h e I s s u e r , b o t h i s s u e d and u n i s s u e d , r a n k e q u a l l y a s t o d i v i d e n d s , v o t i n g powers and p a r t i c i - p a t i o n i n a s s e t s . N o s h a r e s have been i s s u e d s u b j e c t to c a l l or a s s e s s m e n t . T h e r e a r e no p r e - e m p t i v e r i g h t s o r c o n v e r s i o n r i g h t s a n d no p r o v i s i o n f o r r e d e m p t i o n , p u r c h a s e f o r c a n c e l l a t i o n , s u r r e n d e r o r s i n k i n g f u n d s o r p u r c h a s e f u n d s h a v e been made. P r o v i s i o n s a s t o t h e m o d i f i c a t i o n s , amendments o r v a r i a t i o n s o f s u c h r i g h t s o r s u c h p r o v i s i o n s are c o n t a i n e d i n t h e B r i t i s h Columbia Company A c t . SHARE AND LOAN CAPITAL STRUCTURE

Amount Out- Amount Out- Amount t o b e D e s i g n a t i o n Amount s t a n d i n g as s t a n d i n g as O u t s t a n d i n g o f S e c u r i t y A u t h o r i z e d a t J u n e 3 0 , a t d a t e o f on Comple t i on

1987 P r o s p e c t u s o f o f f e r i n g *

Common S h a r e s 20 ,000 ,000 1 , 2 1 9 , 0 0 1 1 , 2 1 9 , 0 0 1 1 ,709 ,001 F J i t h o u t P a r Va lue

* i n c l u d i n g s h a r e s t o be i s s u e d t o m a i n t a i n o p t i o n on c l a i m .

Note: The I s s u e r h a s g r a n t e d on J u l y 1 5 , 1987 , Director and Key Employee S t o c k O p t i o n s t o p u r c h a s e , i n t h e a g g r e g a t e , 170 ,900 s h a r e s o f t h e I s s u e r a t a p r i c e o f $0 .35 p e r s h a r e and h a s g r a n t e d A g e n t ' s W a r r a n t s t o p u r c h a s e 112 ,500 s h a r e s o f t h e I s s u e r a t a p r i c e o f $0 .40 p e r s h a r e .

PRIOR SALES

T o t a l Number o f P r i c e T o t a l Cash Commiss ions S e c u r i t i e s S o l d R e c e i v e d P a i d

$0 .01 $ 7 , 5 0 0 N i l $ 0 . 2 5 $ 1 1 7 , 2 5 0 N i 1

*The 7 5 0 , 0 0 0 s h a r e s i s s u e d f o r and i n c o n s i d e r a t i o n o f t h e sum o f $ 0 . 0 1 p e r s h a r e h a v e b e e n i s s u e d a s " P r i n c i p a l ' s S h a r e s " s u b j e c t t o escrow r e s t r i c t i o n s more p a r t i c u l a r l y d e s c r i b e d u n d e r t h e head- i n g "Escrowed S h a r e s " on p a g e "11" o f t h i s P r o s p e c t u s .

DIRECTORS AND OFFICERS

The names, a d d r e s s e s and p r i n c i p a l o c c u p a t i o n s i n w h i c h e a c h o f t h e Directors and O f f i c e r s o f t h e I s s u e r h a v e b e e n engaged d u r i n g t h e i m m e d i a t e l y p r e c e d i n g f i v e y e a r s a r e a s f o l l o w s :

Name and Address Position with Issuer Principal Occupation

* P a u l S h a t z k o C h i e f E x e c u t i v e Se l f -Employed 2618 B e l l e v u e Avenue O f f i c e r , Bus i n e s s m a n and W e s t V a n c o u v e r , B. C. P r e s i d e n t and P r o f e s s i o n a l V7V 1E4 D i r e c t o r R a d i o l o g i s t

Alice U s h e r C h i e f F i n a n c i a l Se l f -Employed 2002 Q u i l c h e n a C r e s c e n t O f f i c e r , S e c r e t a r y B u s i n e s s C o n s u l t a n t V a n c o u v e r , B. C. a n d Director V6M 1E3

avid G e o r g e Mark Director 5 1 8 1 K i l l a r n e y S t r e e t V a n c o u v e r , B. C. V5R 3W1

* ~ a r r y Chew 2425 Dundas S t r e e t V a n c o u v e r , B.C. V5K 1P5

D i r e c t o r

e embers o f t h e A u d i t C o m m i t t e e .

OPTIONS TO PURCHASE SECURITIES

G e o p h y s i c i s t

Se 1 f -Employed A c c o u n t a n t

P a r t i c u l a r s o f o p t i o n s g r a n t e d t o E x e c u t i v e O f f i c e r s and D i r e c t o r s a s o f t h e d a t e o f t h i s P r o s p e c t u s a r e a s f o l l o w s :

Designation and Exercise No. of Securities Price of Expiry Date under Option Opt ion of Option

E x e c u t i v e O f f i c e r s a s a 85 ,450 common $0 .35 J u l y 1 5 , 1989 Group ( 2 ) s h a r e s

Directors ( e x c l u d i n g E x e c u t i v e O f f i c e r s ) a s 85 ,450 common a Group ( 2 ) s h a r e s

$0 .35 J u l y 1 5 , 1989

EXECUTIVE COMPENSATION

The I s s u e r h a s two E x e c u t i v e O f f i c e r s : P a u l S h a t z k o , t h e C h i e f E x e c u t i v e O f f i c e r and P r e s i d e n t o f t h e I s s u e r , and A 1 ice Ushe r , t h e C h i e f F i n a n c i a l O f f i c e r and S e c r e t a r y o f t h e I s s u e r . N o E x e c u t i v e O f f i c e r , Director or Employee c o m p e n s a t i o n p l a n s h a v e b e e n e s t a b l i s h e d , n o r are a n y s u c h p l a n s c o n t e m p l a t e d p u r s u a n t t o which c a s h or non-cash c o m p e n s a t i o n w i l l be p a i d to E x e c u t i v e O f f i c e r s , Directors o r Employees . To d a t e , t h e f o l l o w - i n g amounts h a v e been p a i d t o t h e E x e c u t i v e O f f i c e r s and Direc- to r s o f t h e I s s u e r o r compan i e s o f wh ich t h e E x e c u t i v e O f f i c e r s o r Directors a r e p r i n c i p a l s :

Payee Amount

G e o t r o n i c s S u r v e y s L td . ( o f wh ich David George Mark is t h e m a j o r i t y s h a r e h o l d e r ) f o r e x p l o r a t i o n costs; a p p r o x i m a t e l y $43 ,000 o f t h e $ 6 8 , 7 2 1 was p a i d as r e i m b u r s e m e n t o f d i s b u r s e m e n t s : $68 ,721

A l i c e Ushe r f o r bookkeep ing and a c c o u n t i n g : 681

Ha r ry Chew f o r bookkeep ing and a c c o u n t i n g s e r v i c e s : 2 , 2 0 1

TOTAL :

The I s s u e r is a p a r t y t o a Management Agreement d a t e d J u l y 3 , 1987 w i t h Myntek Management S e r v i c e s I n c . , ( " M y n t e k " ) , a B r i t i s h Columbia c o r p o r a t i o n , h a v i n g a n o f f i c e a t 605 - 475 H o w e S t r e e t , Vancouve r , B.C., V6C 2B3, p u r s u a n t t o which t h e I s s u e r p a y s Myntek $1 ,000 p e r month f o r management s e r v i c e s . Myntek is owned j o i n t l y by H a r r y Chew, a Director o f t h e I s s u e r , and E l l e n M e i Chew.

Key Employee S t o c k O p t i o n s on a t o t a l o f 85 ,450 s h a r e s o f t h e I s s u e r h a v e been g r a n t e d t o P a u l S h a t z k o and A l i c e Usher

i n t h e r e s p e c t i v e a m o u n t s o f 7 5 , 4 5 0 and 1 0 , 0 0 0 s h a r e s . I t is t h e i n t e n t i o n o f t h e I s s u e r t o s e t a s i d e f o r t h e g r a n t o f f u t u r e Key Employee S t o c k O p t i o n s t h a t number o f u n i s s u e d T r e a s u r y s h a r e s e q u a l t o 5 % o f t h e i s s u e d and o u t s t a n d i n g s h a r e s o f t h e I s s u e r . Key Employee S t o c k O p t i o n s w i l l b e g r a n t e d f r o m t i m e t o t i m e b y t h e Board o f D i r e c t o r s t o r e m u n e r a t e O f f i c e r s o f t h e I s s u e r f o r s e r v i c e s r e n d e r e d o r t o b e r e n d e r e d t o t h e I s s u e r , w h i c h o p t i o n s w i l l b e g r a n t e d p a r t i a l l y i n l i e u o f c a s h r e m u n e r a t i o n .

The o p t i o n e x e r c i s e p r i c e h a s b e e n e s t a b l i s h e d a t t h e p r i c e a t w h i c h t h e I s s u e r w i l l be making a n o f f e r i n g o f i ts s e c u r - i t i e s u n d e r t h i s P r o s p e c t u s .

Directors S t o c k O p t i o n s o n a t o t a l 8 5 , 4 5 0 s h a r e s o f t h e I s s u e r h a v e b e e n g r a n t e d t o H a r r y Chew and David G e o r g e Mark i n t h e r e s p e c t i v e amounts o f 70 ,450 and 1 5 , 0 0 0 s h a r e s . The Directors o f t h e I s s u e r w i l l a l so b e r e w a r d e d i n t h e f u t u r e b y f u r t h e r Directors S t o c k O p t i o n s a s t h e I s s u e r i n t e n d s to set a s i d e f o r t h e g r a n t o f s u c h o p t i o n s t h a t number o f u n i s s u e d T r e a s u r y s h a r e s e q u a l t o 5 % o f t h e i s s u e d and o u t s t a n d i n g s h a r e s o f t h e I s s u e r . The D i r e c t o r s S t o c k O p t i o n s w i l l b e g r a n t e d f r o m t i m e t o t i m e by t h e Board o f Directors a s a f o r m o f r e m u n e r a t i o n f o r D i r e c t o r s a g r e e i n g t o s e r v e o n t h e Board and a c t i n g i n t h e b e s t i n t e r e s t o f t h e I s s u e r .

P R I N C I P A L HOLDERS OF S E C U R I T I E S

S e t f o r t h h e r e u n d e r are p a r t i c u l a r s o f s h a r e h o l d e r s o f t h e I s s u e r a s o f t h e d a t e o f t h i s P r o s p e c t u s who own 1 0 % o r more o f t h e i s s u e d s h a r e s o f t h e I s s u e r :

T y p e of N u m b e r of D e s i g n a t i o n O w n e r - Securities

Name and A d d r e s s of C l a s s s h i p O w n e d P e r c e n t a g e

HARRY CHEW Common-free * DB 2 4 , 0 0 0 2425 Dundas S t r e e t -escrow *DB 275 ,000 V a n c o u v e r , B. C. 2 9 9 , 0 0 0 24.53% V5K 1P5

ALICE USHER Common-f ree *DB 5 , 0 0 0 2002 Q u i l c h e n a Cres. -escrow *DB 200 ,000 V a n c o u v e r , B. C. 2 0 5 , 0 0 0

DR. PAUL SHATZKO Common-free *DB 1 261 8 B e l l e v u e Avenue -escrow *DB 275 ,000 West V a n c o u v e r , B, C. 2 7 5 , 0 0 1 V7V 1E4

DR. NIGEL W. CLARK Common-free *DB 1 6 0 , 0 0 0 6 4 9 5 McKenzie P l a c e V a n c o u v e r , B,C. V6N 1H6

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ore t h e e x p i r a t i o n o f t e n y e a r s f r o m t h e d a t e o f t h e r e c e i p t ued by t h e S u p e r i n t e n d e n t f o r t h i s P r o s p e c t u s w i l l be c a n c e l - . The c o m p l e t e t e x t o f t h e Esc row Agreement w i l l be a v a i l a b l e

i n s p e c t i o n a t t h e I s s u e r ' s r e g i s t e r e d o f f i c e , S u i t e 7 0 8 , 1111 t H a s t i n g s S t r e e t , V a n c o u v e r , B r i t i s h Columbia , V6E 253, f o r a i o d o f 30 d a y s f o l l o w i n g c o m p l e t i o n o f t h e O f f e r i n g .

DIVIDEND RECORD

The I s s u e r h a s n o t p a i d a n y d i v i d e n d o n a n y o f i t s s h a r e s s i n c e i n c o r p o r a t i o n . The I s s u e r h a s no p r e s e n t i n t e n t i o n o f p a y i n g d i v i d e n d s b u t t h e f u t u r e d i v i d e n d p o l i c y w i l l b e d e t e r m i n e d by t h e Board o f Directors o n t h e b a s i s o f e a r n i n g s , f i n a n c i a l r e q u i r e m e n t s and o t h e r r e l e v a n t f a c t o r s .

INTEREST OF MANAGEMENT AND OTHERS IN MATERIAL TRANSACTIONS

E x c e p t a s s p e c i f i e d h e r e i n , t h e Directors , O f f i c e r s , I n s i d e r s a n d P r o m o t e r s o f t h e I s s u e r d o n o t h a v e a n y i n t e r e s t , d i r e c t o r i n d i r e c t , b y way o f b e n e f i c i a l o w n e r s h i p o f s h a r e s o r o t h e r w i s e i n m a t e r i a l t r a n s a c t i o n s e x c e p t f o r a n y i n t e r e s t a r i s i n g f r o m t h e o w n e r s h i p o f s h a r e s o f t h e I s s u e r w h e r e t h e s h a r e h o l d e r w i l l r e c e i v e n o e x t r a o r s p e c i a l b e n e f i t o r a d v a n t a g e n o t s h a r e d o n a p r o r a t a b a s i s by a l l h o l d e r s o f s h a r e s i n t h e c a p i t a l o f t h e I s s u e r . G e o t r o n i c s S u r v e y s L t d . , ( o f w h i c h David G e o r g e Mark, a Director o f t h e I s s u e r , is t h e m a j o r i t y s h a r e h o l d e r ) was p a i d $ 6 8 , 7 2 1 f o r e x p l o r a t i o n work on t h e Hawk N o . 1 C l a i m and f o r prov- i d i n g t h e I s s u e r w i t h o f f i c e s p a c e and t e l e p h o n e a n s w e r i n g f a c i l - i t i e s .

AUDITORS, TRANSFER AGENTS AND REGISTRARS

The A u d i t o r o f t h e I s s u e r is H a r i V a r s h n e y , C h a r t e r e d A c c o u n t a n t , o f S u i t e 2 0 4 , 3970 E a s t H a s t i n g s S t r e e t , Burnaby , B r i t i s h C o l u m b i a , V5C 6C1. The I s s u e r ' s R e g i s t r a r and T r a n s f e r A g e n t is P a c i f i c C o r p o r a t e S e r v i c e s L i m i t e d , o f S u i t e 8 3 0 , 625 H o w e S t r e e t , V a n c o u v e r , B r i t i s h C o l u m b i a , V6C 388.

INCORPORATION WITHIN ONE YEAR - PRELIMINARY EXPENSES A s a t J u n e 3 0 , 1 9 8 7 , t h e I s s u e r had i n c u r r e d p r e l i m i n a r y

e x p e n s e s o f $ 9 0 , 1 5 1 a s f o l l o w s :

Designation Amount

E x p l o r a t i o n E x p e n d i t u r e s $ 6 6 , 7 2 1 L e g a l and P r o f e s s i o n a l F e e s 1 4 , 3 0 8 O f f i c e s a n d S u n d r y 9 , 1 2 2

TOTAL: $ 9 0 , 1 5 1

MATERIAL CONTRACTS

T h e r e are no material c o n t r a c t s , e x c e p t as d i s c l o s e d i n t h i s P r o s p e c t u s . The f o l l o w i n g c o n t r a c t s may be i n s p e c t e d a t t h e r e g i s t e r e d o f f i c e o f t h e I s s u e r , S u i t e 708 , 1111 W e s t H a s t i n g s S t r e e t , Vancouve r , B r i t i s h Columbia , d u r i n g normal b u s i n e s s h o u r s w h i l e p r i m a r y d i s t r i b u t i o n o f t h e S h a r e s o f f e r e d by t h i s P r o s p e c t - u s is i n p r o g r e s s and f o r a p e r i o d o f 30 d a y s t h e r e a f t e r :

( a ) Agency O f f e r i n g Agreement d a t e d March 1 9 , 1987 e n t e r e d i n t o be tween t h e I s s u e r and Merit I n v e s t m e n t Corpora- t i o n ;

( b ) Mining O p t i o n Agreement , as amended, d a t e d O c t o b e r 2 2 , 1986 e n t e r e d i n t o be tween t h e I s s u e r and T r a n s - A r c t i c E x p l o r a t i o n s L td . u n d e r which t h e I s s u e r a c q u i r e d a n o p t i o n t o p u r c h a s e t h e Hawk No. 1 m i n e r a l claim l o c a t e d i n t h e F o r t e S t e e l e Mining D i v i s i o n o f t h e P r o v i n c e o f B r i t i s h Columbia;

( c ) Director and Key Employee S t o c k O p t i o n Agreements d a t e d J u l y 1 5 , 1987;

( d ) E s c r o w Agreement d a t e d December 3 0 , 1986.

( e ) Management Agreement d a t e d J u l y 3 , 1987 be tween t h e I s s u e r and Myntek Management S e r v i c e s I n c .

OTHER MATERIAL FACTS

N o s h a r e s o f t h e I s s u e r are owned, d i r e c t l y or i n d i r e c t - l y , by a n u n d e r w r i t e r a s d e s c r i b e d i n L o c a l P o l i c y S t a t e m e n t 3-30. T h e r e are no o t h e r m a t e r i a l f a c t s .

PURCHASER'S STATUTORY RIGHTS OF WITHDRAWAL AND RESCISSION

The S e c u r i t i e s A c t p r o v i d e s p u r c h a s e r s w i t h a r i g h t to w i t h d r a w f rom a n a g r e e m e n t t o p u r c h a s e s e c u r i t i e s w i t h i n t w o b u s i n e s s d a y s a f t e r receipt o r deemed r e c e i p t o f a p r o s p e c t u s and f u r t h e r p r o v i d e s a p u r c h a s e r w i t h r e m e d i e s f o r r e c i s s i o n or damages where t h e p r o s p e c t u s and any amendment c o n t a i n s a m a t e r i a l m i s r e p r e s e n t a t i o n o r is n o t d e l i v e r e d t o t h e p u r c h a s e r p r i o r t o d e l i v e r y o f t h e w r i t t e n c o n f i r m a t i o n o f s a l e or p r i o r t o m i d n i g h t o n t h e s econd b u s i n e s s d a y a f t e r e n t e r i n g i n t o t h e a g r e e m e n t , b u t s u c h r e m e d i e s mus t b e e x e r c i s e d by t h e p u r c h a s e r w i t h i n t h e t i m e 1 i m i t p r e s c r i b e d . Fo r f u r t h e r i n f o r m a t i o n c o n c e r n i n g t h e s e r i g h t s and t h e t i m e l i m i t s w i t h i n which t h e y mus t b e e x e r c i s e d t h e p u r c h a s e r s h o u l d r e f e r t o S e c t i o n s 6 6 , 114 , 1 1 8 and 124 o r t h e S e c u r i t i e s A c t o r c o n s u l t a l awye r .


FINANCIAL STATEMENTS JUNE 3 0 , 1987

CONTENTS

1 Audi t o r ' s Repor t

2 E x h i b i t A - Balance Sheet

B - S t a ternen t o f D e f e r r e d E x p l o r a t i o n and A d m i n i s t r a t i o n

4 C - Sta tement of Changes i n F i n a n c i a l P o s i t i o n

5-6 Notes t o F i n a n c i a l Statements

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Current Assets Cash Accounts rece ivab le


BALANCE SHEET AS AT JUNE 30, 1987

ASSETS

To ta l c u r r e n t assets

Option on Minera l Proper ty

Deferred Exp lo ra t i on and Adrninistra t i o n

Incorpora t i on Costs

Exh ib i t A

Reference

To ta l c u r r e n t assets

LIABILITY

Current L i a b i l i ty Accounts payable

Shareholders ' Equi t y Share c a p i t a l

To ta l l i a b i l i t y and shareholders ' e q u i t y

Reference Code N1 - note 1

SHAREHOLDERS' EQUITY

See notes t o f i n a n c i a l statements. - 2 -

UNIQUE RESOURCES LTD. E x h i b i t B

STATEMENT OF DEFERRED EXPLORATION AND ADMINISTRATION FOR THE PERIOD AUGUST 7, 1986 (DATE OF INCORPORATION)

TO JUNE 30, 1987

Reference

Exp lo ra t i on Excavat ing and road b u i l d i n g Geophysical, supe rv i s ion and f i e l d work Truck and equipment r e n t a l Supplies, l odg ing and t r a v e l Contract labour Assays Geological and engineer ing

To ta l e x p l o r a t i o n

Admin i s t ra t i on Rent Accounting Lega 1

Fees O f f i c e Trans fer agent Bank charges

To ta l a d m i n i s t r a t i o n

To ta l de fe r red e x p l o r a t i o n and admin i s t ra t i on

See notes t o f i n a n c i a l s ta ternents. - 3 -


STATEMENT OF CHANGES I N FINANCIAL POSITION FOR THE PERIOD AUGUST 7, 1986 (DATE OF INCORPORATION)

TO JUNE 30, 1987

Cash Was Provided by Financing A c t i v i t i e s Shares subscribed f o r cash

E x h i b i t C

Cash Was Used i n Operat ing A c t i v i t i e s Deferred explora t i o n and admini s t r a t i o n Incorpora t i o n cos ts Decrease ( Increase) i n Accounts Payable Increase i n accounts rece i vab le

Cash Was Used i n I n v e s t i n g A c t i v i t i e s Opt ion on minera l p rope r t y

Cash, end o f p e r i o d

See notes t o f i n a n c i a l s ta temen t s . - 4 -


NOTES TO FINANCIAL STATEMENTS JUNE 30, 1987

1. Deferred Expl ora t i o n and Admin is t ra t ion

Exp lora t ion and admin is t ra t i ve costs r e l a t i n g t o mineral r i g h t s are deferred u n t i l the proper ty i s brought i n t o production, a t which time the deferred costs are t o be amortized on a u n i t o f product ion basis, o r u n t i l the proper ty i s abandoned o r sold, a t which time the defer red costs are t o be w r i t t en -o f f .

The amounts shown as op t ion on mineral property and deferred exp lo ra t ion and admin- i s t r a t i o n represent unamortized costs t o date and do no t necessar i ly r e f l e c t present o r f u t u r e values.

During the per iod ended June 30, 1987, the company incur red $57,500 o f explora- t i o n and development costs on beha l f o f shareholders pursuant t o f low-through share subscr ipt ions. The tax advantages app l icab le t o $57,500 o f the exp lo ra t ion costs incur red by the company are ava i l ab l e t o the subscribers o f shares and no t t o the company .

2. Option on Mineral Property

During the per iod, the company acquired an op t ion t o purchase the Hawk No. 1 mineral claims cons is t ing o f 20 u n i t s s i t ua ted i n the F o r t Steele Mining D i v i s i on i n the Province o f B r i t i s h Columbia. The company pa id $20,000 f o r the opt ion as the f i r s t paymen t.

I n add i t ion , the company i s requ i red t o make the f o l l ow ing payments t o the vendor:

October 1, 1987 August 1, 1988 August 1, 1989

I n add i t ion , the company has a commi tment t o issue 40,000 f u l l y pa id shares upon acceptance o f the company's prospectus by the regu la to ry au tho r i t i e s o r September 30, 1987, whichever i s e a r l i e r .

The company i s requ i red t o keep the claims f r e e and c l e a r o f a l l l i e n s and i n good standing dur ing the term o f the agreement.

The claims are sub jec t t o a 10% ne t p r o f i t r o y a l t y commencing when the sa id claims are brought i n t o commercial production. The maximum amount o f ne t p r o f i t r o y a l t y payable t o vendor i s $500,000.

3. Share Capi ta l

(a) Authorized 20,000,000 common shares wi thout par value.

See notes t o f i nanc ia l statements.

3. Share Capi t a l (continued)

(b) Subscribed f o r and f u l l y pa id shares

Number o f

shares Amount

Subscribed f o r cash: @ $.25 @ 8.01

(c ) Shares he ld i n escrow A t June 30, 1987, 750,000 shares o f the company are sub jec t t o an escrow agreement and may no t be t ransferred, assigned o r otherwise deal t w i t h w i thou t the consent o f the re levan t regu la to ry body having j u r i s d i c t i o n thereon.

(d) Stock opt ions E f f e c t i v e March 2, 1987, stock opt ions were granted t o two D i rec to rs and two Employees o f the company t o acquire i n t o t a l 170,900 shares a t 6.35 per share. The opt ions are exerc isable on o r before Ju l y 22, 1989.

(e) Agent's warrants The underwr i ters o f the company's proposed issue o f 450,000 shares t o the pub l i c have been given agent 's warrants e n t i t l i n g them t o purchase 112,500 shares from the company a t 6.40 per share w i t h i n 180 days from the o f f e r i n g day, o r 12 months from the date o f prospectus, whichever i s e a r l i e r .

4. Related Par ty Transactions

(a) During the per iod ended dune 30, 1987, the company pa id $2,000 t o Geotronics Surveys L td., a company con t ro l l e d by one o f the Di rec tors , f o r the prov is ion o f o f f i c e space and telephone answering t o the company.

(b) During the per iod ended June 30, 1987, the company pa id $2,882 t o two D i rec to rs f o r prov id ing accounting serv ices t o the company.

(c ) The company's exp lo ra t ion ac t i v i t i e s were conducted under the supervis ion o f Geotronics Surveys Ltd., a company con t ro l l ed by one o f the Di rec tors . Most o f the work was sub-contracted by Geotronics Surveys Ltd. t o others and charged back t o the company a t cost.

( d ) E f f e c t i v e J u l y 3, 1987, the company entered i n t o a management agreement w i t h Myntek Management Services Inc. a company 50% owned by one o f the Di rec tors . Under the agreement, Myntek w i l l be pa id @ $1,000 per month f o r prov id ing management services.

5. Subsequent Event

Subsequent t o the ba 1 ance sheet date, the Company i n tends t o f i l e a prospectus w i t h the regu la tory a u t h o r i t i e s o f B r i t i s h Columbia c o n s t i t u t i n g an o f f e r i n g t o the pub l i c of 450,000 common shares o f the company a t 6.35 per share w i t h ne t proceeds o f $.32 per share t o the company.

See notes to f i nanc ia l statements. - 6 -

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TABLE OF CONTENTS PAGE

INTRODUCTION .............................. ......... ....................... LOCATION AND ACCESS .................................... CLAIMS ................................... HISTORY ...... ........................ MODERN EXPLORATION DESCRIPTION OF MINERALIZED ZONES .......... DESCRIPTION OF THE THREE ZONES

Zone One ........................... . ............... . Sampling in Zone One ........................... . Zone Two . Sampling in Zone Two ...............

Zone Three . ...................*e.... . Sampling

GEOLOGY ........ EXPLORATION POTE RECOMMENDATIONS

... NTI

Zone . . . . . . .

Three ............. .................... .................... Stage One . ...................e**..*e Stage Two . .......................... - Stage Three ........................

BUDGET - Stage One .......................... - Stage Two .......................... - Stage Three ........................ CERTIFICATE

MAPS LOCATION MAP CLAIM MAP PROPERTY MAP COMPILATION MAP

CERTIFICATES OF ASSAY (5)

a BURTON CONSULTING INC . This report may not be reproduced in whole or in part without the written permission of Burton Consulting Inc .

INTRODUCTION

The Perry Creek district in the Kootenayls is the most

productive gold placer area west of the Kootenay River

and contains many gold lode occurrences.

Past production from the many lode deposits was limited

to small shipments from several of the properties in the

area. Exploration in the early days on the claim

consisted mainly of surface trenching and small adits or

shafts.

Modern exploration is starting to emphasize the

potential of the previously unexplored shear zones which

were known but could not be effectively explored with

the techniques available in those days.

LOCATION and ACCESS

The Hawk Mineral Claim is in the Fort Steele Mining

Division of British Columbia. It is south of Kimberley

and southwesterly from Cranbrook, B.C. The claim is

south of Grassy Mountain on the west side of Perry Creek

close to its he~~dwacers and on the divide between Perry

and Hellroaring Creeks.

Access is by road from Highway #95A between Cranbrook

and Kimberley. About 15 kilometres from Cranbrook turn

south on the Wycliffe Road and 1.7 km further turn right

BURTON CONSULTING INC.

This report may not be reproduced in whole or in part without the written permission of Burton Consulting lnc.

o r west on t h e P e r r y Creek road and c o n t i n u e f o r a t o t a l

of a b o u t 33 km from t h e W y c l i f f e t u r n o f f t o BR A

( l o g g i n g r o a d Branch A ) . S l i g h t l y more t h a n one

k i l o m e t r e up r o a d BR A t h e a c c e s s r o a d t o t o claim heads

s o u t h w e s t e r l y up t h e h i l l p a s t t h e o l d c a b i n , lakes, and

workings a t 6600 e l e v a t i o n and west up t o t h e r i d g e

c r e s t a t e l e v a t i o n 7200 f e e t (2195 m). T h i s road was

b u i l t by a b u l l d o z e r and is s u i t a b l e f o r b u l l d o z e r s and

e x c a v a t o r s , b u t w i l l need upgrad ing i n t h e summer b e f o r e

i t can be used by wheeled v e h i c l e s . The l o c a t i o n of t h e

road h a s been s u r v e y e d and is p l o t t e d on a map.

CLAIMS

The p r o p e r t y c o n s i s t s o f t h e metric claim Hawk 1 , Record

No. 2283. T h e r e are 20 u n i t s i n t h e c l a i m and boundary

p o s t s s e e n by t h e writer conf i rmed t h a t it was p r o p e r l y

s t a k e d and p l o t t e d i n t h e c o r r e c t p o s i t i o n . The claim is

owned by Unique Resources L td . and s h o u l d be v a l i d t o

September 23, 1991 when a l l t h e work done i n 1986 h a s

been f i l e d and a c c e p t e d .

HISTORY

Government r e p o r t s show much a c t i v i t y i n t h e P e r r y Creek

d r a i n a g e i n t h e s e a r c h f o r b o t h p l a c e r and l o d e g o l d

d e p o s i t s . The r e c o r d s go back a t leas t t o 1898 and t h e

h i s t o r y g o e s back t o t h e 1870's . The Hawk claim is

BURTON CONSULTING INC. - This report may not be reproduced in whole or in part without the written permission of Burton Consulting Inc.

4

-3-

considered to cover the old Yellow Metal Property which

is reported in the 1916 Minister of Mines Report, but

was known earlier. Little is known of the property since

then i the government records, but there has been

considerable unrecorded exploration work done on the

property since then. Unique have discovered many open

cuts, trenches, and even several adits.

The only recent or modern work done was by Unique

Resources Ltd. in the last two years. This included

prospecting to find the old showings and the 1986

program of exploration. This report comments on the 1986

exploration which was done under my recommendation by

Geotronics Surveys Ltd. A program of further exploration

is recommended as there there are several valid targets

to be explored for lode gold deposits.

References include the B.C. Dept. of Mines Annual

Reports and Geological Survey of Canada, Memoir 76.

The government reports state "Placer mining west of the

Kootenay River has been largely identified with

operations on Perry Creek--".

The placer operations have been in the modern creek bed

b BURTON CONSULTING INC.

This report may not be reproduced in whole or in part without the written permission of Burton Consulting Inc.

-4-

and a l s o i n t h e d e e p e r and presumably ea r l i e r g r a v e l s .

The re h a s been enough go ld produced t o show t h a t P e r r y

Creek is a n i m p o r t a n t s o u r c e o f g o l d . There is

c o n s i d e r a b l e d i s c u s s i o n as t o how much g o l d h a s been

a c t u a l l y produced and how much is s t i l l i n t h e g r a v e l s .

With s o much p l a c e r g o l d the e a r l y p r o s p e c t o r s s e a r c h e d

f o r l o d e g o l d d e p o s i t s i n t h e P e r r y C r e e k d r a i n a g e .

T h e i r d i s c o v e r i e s s u c h as t h e wHomestakew d e p o s i t on

P e r r y C r e e k were numerous, b u t t h e y d i d n o t d i s c o v e r

l a r g e h i g h g r a d e d e p o s i t s of t h e t y p e r e q u i r e d f o r

p r o f i t a b i l i t y i n t h o s e days .

They d i d d i s c o v e r many showings , which c o u l d be d i v i d e d

g e n e r a l l y i n t o t h r e e t y p e s . The first t y p e t o be

d i s c o v e r e d was t h e l a r g e p l a i n w h i t e q u a r t z v e i n s . These

v e i n s are up 20 metres wide and have been t r a c e d f o r

o v e r 300 metres b u t have u n i v e r s a l l y low v a l u e s i n g o l d

o r o t h e r metals.

While e x p l o r i n g t h e s e large q u a r t z v e i n s t h e p r o s p e c t o r s

d i s c o v e r e d smaller q u a r t z v e i n s w i t h b e t t e r

m i n e r a l i z a t i o n . These smaller q u a r t z v e i n s are found

c u t t i n g b o t h t h e c o u n t r y r o c k s and t h e l a r g e q u a r t z

v e i n s . Assays of up t o s e v e r a l o u n c e s are o c c a s i o n a l l y

found, a l t h o u g h t y p i c a l v a l u e s o f t h e b e t t e r p i e c e s are

BURTON CONSULTING INC. a


-5-

in the 3 / 4 ounce per ton Au range. Some shipments were

made from this type of quartz vein and much exploration

was done in the early days with trenching and occasional

drifting or short shafting. At $20 to $35 dollar gold

these deposits were not economic as narrow underground

vein mines.

The third type of gold mineralization was not considered

in the earlier period of exploration as it could not be

properly explored with the non mechanical equipment

available in those days. The third type consists of

sheared zones that contain quartz veins, with both the

quartz veins and the shears containing gold values.

The situation is well described in the following quote

from the government report: "The main quartz ledges seem

to be very low grade and such comparatively rich, narrow

veins as may occur within the lodes are too small to

warrant their development. Less, however, seems to be

known of those mineralized widths of sheared and

oxidized country rock that form variable and, commonly,

considerable parts of the lodes, and from which good

values have been obtained. Perhaps a more careful

sampling of this type of material would result in

outlining ore-bodies of sufficient size to permit mining




.

-6-

on a moderate scaleow

MODERN EXPLORATION

The work done by Unique Resources Ltd. during the 1986

exploration season has indeed verified the above quote.

Unique's geophysical and geochemical surveys have

confirmed the presence of gold soil anomalies,

electromagnetic and magnetic anomalies over areas that

represent shallowly buried shear zones.

In a report on the adjacent property to the north dated

Feb. 5 1982 F. Holcapek, P. Eng. described the Perry

Creek faults and then went on to say: wNumerous small

parallel faults and shears have been identified

northwest of Perry Creek. The normal topographic

expression of these structures are level shelves up to

50 feet wide on slopes having an inclination of up to 20

degrees.

Areas that coincide with the anomalies on the Hawk claim

of Uniques Resources Ltd. have simi!.iar characteristics.

Although the Hawk showings are along the upper slopes

rather than the lower slopes and have a modified surface

effect.

BURTON CONSULTING INC. h

J

Topography in the form of overburden formed from both or

either of residual weathering and glacial deposits, as

well as weathered or glacially polished fresh outcrops

has influenced the surface trace of the mineralized

zones on the property.


,

DESCRIPTION OF MINERALIZED ZONES

Areas that coincide with the anomalies on the Hawk claim

of Unique Resources Ltd. have similar characteristics.

There are three main areas of interest on the Hawk

claim. The first area of mineralization is east of the

lakes and old cabin. It is a zone of the giant quartz

veins at around elevation 6,600 to 6,700 feet.

The second zone of mineralization is between the two

lakes and is the least explored.

The third zone of mineralization is along the ridge that

forms the divide between Perry and Hellroaring Creeks.

This third zone is long, complex and has the greatest

potential for exploration. This zone shows up well

continuously along the length of the claim.

BURTON CONSULTING INC. *


-

I

DESCRIPTION OF THE THREE ZONES

Zone One

The first zone is on a treed bench between elevations of

6,600-6,700 feet. It covers an area from 0 south to 7

south and 8 east to 13 east on the grid co-ordinates.

The most striking feature of this area is a giant quartz

vein which trends N 300 E and probably dips 800 to the

west conformably to the bedding. Gold values in this and

other giant quartz veins in the Perry Creek Camp are

low. The giant quartz vein and the surrounding country

rock are cut by smaller better mineralized gold bearing

quartz veins. Large mineralized shear zones are also

possible here as there is some shearing exposed in the

sediments near the giant quartz veins and there is flat

overburden covered areas adjacent to them. On the

property to the north large shear zones are known

adjacent to the giant quartz veins.

Sampling in Zone One

The geophysical-geochemical field technicans took rock

samples during the course of their main surveys. These

technicans saw signs of mineralization in Zone One from

OS to 7S and 10E to 12E. They took eight grab samples

\ which were assayed for Cu, Pb, Ag and Au. Copper and

lead values were low while silver ranged from 0.01 to

0.17 oz. /T and gold ranged from less than .002 to .008


i

I oz./T. These samples should be considered only as

indicative of the presence of gold and silver and not

representative of grades. Roughly 20% of the geochemical

I soil samples are anomalous for gold. Zone Two

The second zone is centered around the northern most of

the two lakes on the property. It is between 5 and 10

east and 5 north to 0 north on the grid co-ordinates.

The VLF electro-magnetic and magnetometer geophysical

surveys show the possibility of a shear zone near the

north end of the lake. This shear zone was not covered

by the grid system and remains unexplored.

Sampling in Zone Two

While running the grid, geophysics, and geochemistry the

technicans took three rock samples for assay in Zone

Two. These samples all returned mineral values in

copper, lead, silver and gold, but should not be

considered as representative of grades. Roughly 23% of

i the soil samples are. anomalous for gold.

Zone Three

The third zone is the largest and most important on the

property. It covers the area from 7 north to 10 south

and 2 west to 2 east on the grid co-ordinates. There


C

-10-

are many o l d work ings which have been sampled c a r r y i n g

v a l u e s from trace up t o 0.891 ounces o f go ld p e r t o n , i n - s p i t e o f t h e s u r f a c e l e a c h i n g . The 1986 work by Unique

Resources showed good c o r r e l a t i o n w i t h t h i s zone and t h e

g e o c h e m i s t r y and g e o p h y s i c s .

The n o r t h e r n end o f t h i s zone a round 1 n o r t h t o 6 n o r t h

c o n t a i n s a well d e f i n e d t o p o g r a p h i c f e a t u r e s t r i k i n g

NEOoE which r e p r e s e n t s a segment o f a f a u l t zone t h a t

e x t e n d s beyond t h e n o r t h e r n and s o u t h e r n b o u n d a r i e s o f

t h e claim. T h i s f e a t u r e is o b v i o u s on t h e a i r photos . I n

t h i s s e c t i o n i t ' s a t o p o g r a p h i c low which h a s s e v e r a l

a d i t s o f unknown l e n g t h and many c u t s . I t r e p r e s e n t s a n

i m p o r t a n t s h e a r zone t h a t must have c o n t a i n e d

s i g n i f i c a n t g o l d t o j u s t i f y t h e number and amount o f

workings on it. T h i s zone is n o t p a r a l l e l t o t h e bedding

and c u t s a t a b o u t a 100 t o 150 a n g l e a c r o s s it. From 1

n o r t h t o 4 s o u t h t h i s s h e a r zone c r o s s e s t h e r i d g e s o

h e r e does n o t show as a t o p o g r a p h i c low f e a t u r e .

Once t h e s h e a r zone h a s c r o s s e d t h e r i d g e and is on t h e

P e r r y Creek s l o p e i t 's e x t e n s i o n is e a s i l y t r a c e d on t h e

a i r pho tos by t he re sumpt ion o f i t s t o p o g r a p h i c low

c h a r a c t e r i s t i c .

BURTON CONSULTING INC. L


-11 -

The s o i l s ampl ing s u r v e y o v e r t h i s zone worked well b u t

is c o m p l i c a t e d by o v e r b u r d e n and w e a t h e r i n g c o n d i t i o n s .

A t t h e n o r t h end o f t h e s h e a r where i t is a pronounced

t o p o g r a p h i c low t h e d e p t h o f i n f i l l e d and t r a n s p o r t e d

ove rburden e f f e c t i v e l y m a s k s any geochemica l r e s p o n s e .

Around 0 n o r t h a l o n g t h e b a s e l i n e t h e s o i l g e o c h e m i s t r y

is t h e best on t h e p r o p e r t y w i t h i n d i v i d u a l v a l u e s as

h i g h as 1030 ppb o f g o l d . Even h e r e t h e i n t e n s i t y o f t h e

g o l d anomaly is somewhat subdued due t o t h e well

documented s u r f i c i a l l e a c h i n g o f m i n e r a l i z e d r o c k

e x p o s u r e s .

To t h e s o u t h t h i s s h e a r zone is invo lved w i t h t a l u s

s l o p e s and t o p o g r a p h i c lows s o i t s geochemica l r e s p o n s e

would n o t be e x p e c t e d t o be s t r o n g .

From t h e a i r p h o t o s t he d i p o f t h i s NPOoE s t r i k i n g s h e a r

a p p e a r s t o be a b o u t 800 t o t h e east . T h i s e a s t e r l y d i p

e x p l a i n s t h e d i p s measured by myse l f on the r i d g e .

Sampl ing i n Zone T h r e e

I n Zone Three t h e r e were t h r e e se ts o f samples t a k e n .

F i r s t M r . R. Simpson t o o k f o u r samples from t h e dump and

s h a f t a t t h e b a s e l i n e and ON. These f o u r samples




-12-

I assayed only for gold ranged from .Oh3 to 0.891 oz.

Au/T.

The geophysical technicans took 15 samples while running

their grid. These were assayed for copper, lead, silver

and gold. Silver values ranged from less than .O1 to .53

oz. Ag/T and gold values from less than .002 up to .273

02. Au/T. The traces of mineralization that the

technicans noticed extended from 6 + 80N to 9 + 30s and

1 + 50W to 1 + 80E mainly along the crest of the ridge.

My sampling was restricted to the pit at the baseline

and ON sampled by Mr. R e Simpson. Silver values ranged

from .01 up to 1.25 oz. Ag/T and gold from .004 to .794

02. Au/To My assay results were similar to Mr.

Simpsonts.

Because of early snow fall it was not possible to

excavate and sample the workings to the north along the

main shear zone. Soil sampling did not show any values

in th?s area because of the infilled overburden in the

gulley trace of the shear zone. Geochemical soil

sampling did show anomalous values where the shear zone

is topographically expressed on the surface.

BURTON CONSULTING INC. b

A

-13-

GEOLOGY

In 1957 the Geological Survey of Canada produced the St.

Mary Lake Geological Sheet, which is just north of the

property. In 1960 they produced the Fernie (west ~alf)

Sheet which is just east of the property. On both map

sheets the Proterozoic Creston Formation is shown

extending towards the property area. Rocks in the area

match the Creston Formation grey and green argillite and

siltstone, grey, green, white and purple quartzite.

There may also be some younger Kitchener-Siyeh Formation

rocks on the property to the west of the Creston

Formation rocks. The Kitchener-Siyeh Formation includes

vari-coloured argillites, dolomitic argillites and brown

weathering dolomites.

On the lower slopes of the property just west of Perry

Creek, grey, to green and purple argillites predominate.

Moving westward up the hill, a direction which is

presumably getting younger in the cross section of the

sediments, there is a ~radaal change from an argillite

with minor quartzites to mainly quartzite with

inter-bedded argillites. The inter-bedded argillites

show a banding which may be due to thin beds. This

J BURTON CONSULTING INC. A


banding is often sheared in areas of alteration and

mineralization. No intrusives are known on the property.

The bedding strikes consistently N30oE and dips steeply

to the west at about 700 - 800. It appears that the

section nyoungsw to the west.

There is a vertical fracture set nearly normal to the

bedding striking N50oW.

A less obvious lineament strikes N75oE and may represent

shearing or dykes or quartz veins.

The major economically important lineaments are the

N20oE strike and 80oE dipping shear zones. The most

important of these is the ridge zone or third zone of

mineralization. The second most important shear zone can

be traced south south easterly from the north end of the

southern of the two lakes on the claim.


EXPLORATION POTENTIAL

The ridge zone shear has excellent possibilities of

developing a large tonnage of gold bearing material. The

shear extends the full length (2,500 metres) of the

property, and is somewhere between 50 and 100 metres

wide. Sampling of the old trenches has shown gold values

as high as 0.89 ounces per ton. Surface weathering and

leaching, which has been well documented in this camp,

plus the generally deteriorated condition of the

trenches makes it difficult to get valid surface

samples.

Confirmation of the shear zone comes from the VLF

electro-magnetic and the magnetometer survey, and of

course, from the stereoscopic air-photos. Confirmation

of the gold content in the shear zone comes from the

geochemical soil survey and of course assays from

selected old workings. Indeed, the number of pit shafts

and good sized adit dumps are in themselves confirmation

of the gold mineralization. There is an unconfirmed

report that some 40 tons of ore was taken from here and

sent for tests in the stamp mill setup at Old Town.


The shear zone that trends southerly from the southern

most lake shows up well on the stereoscopic air-photos,

where it can be traced at least 700 metres south at

which point it becomes indistinguishable in a valley

basin. The north end has an electro-magnetic (VLF) and

magnetometer confirmation similar to that of the ridge

shear zone. Only one Line of the grid crosses this shear

so the geochemical response is not available,

There is a potential for a similar type of shear zone in

the first zone. Because the first zone is in a flat

heavier treed area the surface erosional trace of a

shear zone will be less obvious here, Further

exploration and prospecting is required in this first

zone.

BURTON CONSULTING INC. i


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BUDGET

Stage One

Completed in 1986.

Stage Two

1) Road upgrading

2) Extend grid, geophysics,

geochemistry

3) Trenching h sampling

4) Contingencies

TOTAL

Stane Three

Diamond Drilling

TOTAL STAGE TWO & THREE


C E R T I F I C A T E

I, Alex Burton do hereby certify that I am an independent Consulting Geologist with offices at 810 - 626 West Pender Street, Vancouver, B.C. V6B 1V9.

I FURTHER CERTIFY THAT:

1. I am a geology graduate of the University of British Columbia and am a registered Professional Engineer in B.C. with Certificate No. 6262 and Fellow of the Geological Association of Canada.

2. I have practised my profession for many years both as an independent consultant and in senior managerial capacity for major mining companies in Canada and other countries.

3. I have no personal interest, directly or indirectly in the securities of UNIQUE RESOURCES LTD. or the Hawk I Claim, nor do I expect to receive directly or indirectly any interest in such property or securities.

4. I have visited the Hawk Claim on three separate occasions during the 1986 exploration season and have reviewed all the available data. I believe the Hawk Property to be of merit and have accordingly made recommendations, but accept no responsibility for the actions of any regulatory authorities.

5. I consent to the use of this Revised Report by UNIQUE RESOURCES LTD. , in any prospectus or Statement of material facts.

Dated this 18th day of June, 1987 in Vancouver, B.C.



Survey Area 1986 rn

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OUTLINE OF

COM?lLATlON MA?

UNIQUE RESOURCES LTD. LlEOENO - PROPERTY WWOARY HAWK I CLAIM

rn LEOAL CORNER ?OUT PERRY CREEK AREA

FORT STEELE M. D., 0. C. / YINERALIZED W E A R ZONE

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Zone One Grab Samples taken by geophysica l su rvey crew technicans

1 ' 0 : G E C T R O N I C S S U R V E Y S L T D . * C E R T o I : A 8 6 1 8 2 4 4 - 0 0 1 - 4 t I N V O I C E Y : 1 8 6 1 8 2 4 4 1 5 3 0 - 800 W e PENOER S T . D A T E : 1-OCT-86

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North Vancouver. B.C.

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Registered As.sayersGeochemists

Chemex Labs Ltd.1't".llyriccll Chemists Phone

Telex

- -- ~~~R~I-;~;E OF ASSAY If-------.SURVEYS LTO. ~~ CERT.' : A8618244-001-A

INVOICE M : 18618244DATE : 1-0CT-86P.O." : NONE

530 - 800 w. PENDER ST.VANCOUVER, 8.C.V6C 2V6

TO : GEOTRONICS

Sa mp I e Pi e p Cu Po Ag Au· --- -

1des cr i p t i on code % % oz/T az/T0+00 M.S. DUMP 236 <0.01 <0.01 0.09 0.0200+00 MAIN SHAFT 236 0.07 <0.01 0.23 0.1161+505 0+60E 236 <0.01 <0.01 0.05 0.0141+855 0+50E 236 <0.01 <0.01 <0.01 0.0023+7SN 0+S5W 236 <0.01 <0.01 0.01 <0.0024+00N 1+45W 236 <0.01 <0.01 0.05 0.273S+OON 1+80E 236 <0.01 <0.01 0.05 0.004

6+80N 1+50W NS 236 <0.01 0.04 0.53 <0.002

6+80N 0+50W CENT 236 <0.01 <0.01 0.03 <0.002

6+80N O+SOW 55 236 <0.01 0.06 0.44 <0.002Q+30S l+lOE VEIN 236 <0.01 <0.01 0.01 0.002

9+)05 l+lOE BMIN 236 <0.01 0.16 0.16 <0.002

9+30S l+lOE A 23b <0.01 0.02 0.04 <0.002

9+)05 1+10E B 236 <0.01 <0.01 0.03 <0.002

9+305 It-IOE C 236 <0.01 <0.01 0.02 <0.002

hawk Kineral Claim

Zone Three Grab Samplestaken by 6eophysical survey crew technicans

VOl n'V 4/K~

Registered Assayer, Province of Br i tish' Columbia

CERTIFICATE OF THE ISSUER

The foregoing constitutes full, true and plain disclosure of all material facts relating to the securities offered by this Prospectus as required by the Securities Act and its regulations.


Chief Financial Officer

OF THE BOARD OF DIRECT s !' -

---- -- * -- i '

HARRY CHEW n

DATED at Vancouver, British Columbia, this 23rd day of July, 1987.

CERTIFICATE OF THE AGENT

To the best of our knowledge, information and belief, the foregoing constitutes full, true and plain disclosure of all material facts relating to the securities offered by this Prospectus as required by the Securities Act and its regulations.

MERIT INVESTMENT CORPORATION

Per:

DATED at Vancouver, British Columbia, this 23rd day of July, 1987.

Documents

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