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<SEC-DOCUMENT>0001244820-03-000009.txt : 20031224
<SEC-HEADER>0001244820-03-000009.hdr.sgml : 20031224
<ACCEPTANCE-DATETIME>20031223203127
ACCESSION NUMBER:		0001244820-03-000009
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031218
FILED AS OF DATE:		20031224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DRC RESOURCES CORP                                      /FI
		CENTRAL INDEX KEY:			0000800166
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31722
		FILM NUMBER:		031072542

	BUSINESS ADDRESS:	
		STREET 1:		#601 - 595 HOWE STREET
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			V6C  2T5
		BUSINESS PHONE:		(604) 687-1629
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<TEXT>
<HTML>
<HEAD>
<META NAME="Generator" CONTENT="Microsoft Word 97">
<TITLE>U</TITLE>
</HEAD>
<BODY LINK="#0000ff">

<B><P ALIGN="CENTER">U.S. SECURITIES AND EXCHANGE COMMISSION</P>
<FONT SIZE=3><P ALIGN="CENTER">Washington, D.C. 20549</P>
</B><U><P ALIGN="CENTER"></P>
</FONT><B><FONT SIZE=4><P ALIGN="CENTER">&nbsp;</P>
</U><P ALIGN="CENTER">FORM 6-K</P>
</FONT>
<P ALIGN="CENTER">REPORT OF FOREIGN PRIVATE ISSUER</P>
<P ALIGN="CENTER">PURSUANT TO RULE 13a-16 or 15d-16 OF</P>
<P ALIGN="CENTER">THE SECURITIES EXCHANGE ACT OF 1934</P>

</B><P ALIGN="CENTER">For the month of December, 2003</P>
<P ALIGN="CENTER">Commission File Number 1-31722</P>
<FONT SIZE=3>
<P>&nbsp;</P><DIR>
<DIR>

</FONT><B><FONT SIZE=4><P ALIGN="CENTER">DRC RESOURCES CORPORATION</P>
</B></FONT><I><FONT SIZE=2><P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</P>
</I></FONT><FONT SIZE=3><P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">595 Howe Street, Suite #601, Vancouver, British Columbia, Canada  V6C 2T5</P>
<P ALIGN="CENTER">(604) 687-1629</P>
</B></FONT><I><FONT SIZE=2><P ALIGN="CENTER">(Address of principal executive offices)</P>
</I></FONT><FONT SIZE=3><P>&nbsp;</P></DIR>
</DIR>

</FONT><P ALIGN="JUSTIFY">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</P>
<P ALIGN="JUSTIFY">Form 20-F&nbsp;<U>__X__</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F&nbsp;<U>___</P>
</U><P ALIGN="JUSTIFY">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1):&nbsp;___</P>
<P ALIGN="JUSTIFY">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&nbsp;___</P>
<P ALIGN="JUSTIFY">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.</P>
<P ALIGN="JUSTIFY">Yes&nbsp;<U>___</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;__<U>X__</P>
</U><P ALIGN="JUSTIFY">If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- <U>___</U>.</P>

<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">BC FORM 53-901F</P>
<P ALIGN="CENTER">(Formerly Form 27)</P>
<P ALIGN="CENTER">SECURITIES ACT</P>
<P ALIGN="CENTER">MATERIAL CHANGE REPORT UNDER SECTION 85(1) OF THE ACT</P>
</B>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=638>
<TR><TD WIDTH="37%" VALIGN="TOP">
<B><P>Item 1: Reporting Issuer</B>:</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>DRC Resources Corporation.</TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>595 Howe Street, Suite #601</TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>Vancouver, B.C.  V6C 2T5</TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>Phone: (604) 687-1629 - Fax (604) 687-2845</TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="63%" VALIGN="TOP">
<P>Email address: drcresources@uniserve.com</TD>
</TR>
</TABLE>


<B><P>Item 2: Date of Material Change</B>:  December 18, 2003</P>

<B><P>Item 3:</B> <B>Press Release</B>:  Dated December 18, 2003 issued in Vancouver, British Columbia &#9;</P>

<B><P ALIGN="JUSTIFY">Item 4:</B> <B>Summary of Material Change:</B>  </P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Update on Afton Copper-Gold Project </P>
<P ALIGN="JUSTIFY"></P>
<OL>

<LI>Behre Dolbear &amp; Company have been commissioned to prepare a Pre-Feasibility Study based on a December, 2003 upgrade of the May, 2003 Mineral Resource Study.   The updated resource study has upgraded sufficient of the inferred to the indicated category of mineral resources in the Afton Main Zone, to permit exclusion of the inferred resource material in the preparation of a new reserve-based Pre-Feasibility Study.  Accordingly, the reserves announced in Press Release dated October 8, 2003 are retracted, but should be re-established in the mine plan of the newly commissioned Pre-Feasibility Study.</LI>

<LI>Competent rock conditions have been encountered in the early stages of excavation of the portal decline. </LI>

<LI>Surface diamond drilling continuing for both the Afton and Pothook Mineral Zones.</LI></OL>


<B><P ALIGN="JUSTIFY">Item 5: Full Description of Material Change:</B> </P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">DRC Resources has commissioned Behre Dolbear &amp; Company Ltd. to prepare a Pre-Feasibility Study based on a December, 2003 upgrade of the May, 2003 Mineral Resource Study by Giroux Consultants. Ltd., a member of the Behre Dolbear consulting group.  The updated resource study has upgraded sufficient of the inferred to the indicated category of mineral resources in the Afton Main Zone, to permit exclusion of inferred resource material in the preparation of a new reserves-based Pre-Feasibility Study.  Accordingly, the reserves announced in Press Release dated October 8, 2003 are retracted, but should be re-established in the mine plan of the newly commissioned Pre-Feasibility Study.  An updated mine plan is now being completed by Metalica S.A. of Chile, the mine planning member of the Behre Dolbear group, with the full Behre Dolbear Pre-Feasibility Study to follow.</P>
<P ALIGN="JUSTIFY"></P>
<B><P ALIGN="CENTER">Afton Main Zone </P>
</B><FONT FACE="Arial" SIZE=1><P ALIGN="CENTER"></P>
</FONT><FONT FACE="Arial"><P ALIGN="CENTER">Mineral Resource Estimate</FONT><SUP><FONT FACE="Arial" SIZE=1>1</SUP></FONT><FONT FACE="Arial"> - *0.70% Copper Equivalent Cutoff </FONT><SUP><FONT FACE="Arial" SIZE=1>2</SUP></FONT><FONT FACE="Arial"> </P>
<P>                            </FONT><FONT FACE="Arial" SIZE=2>(December, 2003) </P>
</FONT><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER"><CENTER><TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=540>
<TR><TD WIDTH="14%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=18>
<B><FONT SIZE=2><P>Resource Category</B></FONT></TD>
<TD WIDTH="22%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">Tonnes&gt;Cutoff </P>
<P ALIGN="CENTER">(tonnes)<SUP>3</B></SUP></FONT></TD>
<TD WIDTH="30%" VALIGN="MIDDLE" COLSPAN=2 HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">Grade&gt;Cutoff <SUP>3</B></SUP></FONT></TD>
<TD WIDTH="34%" VALIGN="TOP" COLSPAN=2 HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">Contained Product</P>
<P ALIGN="CENTER"> In-situ<SUP>4</B></SUP></FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP" HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">CuEQ%</B></FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">AuEQ(g/t)</B></FONT></TD>
<TD WIDTH="20%" VALIGN="TOP" HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">Copper (lb)</B></FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=18>
<B><FONT SIZE=2><P ALIGN="CENTER">Gold (oz)</B></FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP" HEIGHT=6>
<FONT SIZE=2><P>Measured</FONT></TD>
<TD WIDTH="22%" VALIGN="MIDDLE" HEIGHT=6>
<FONT SIZE=2><P ALIGN="RIGHT">9,540,000</FONT></TD>
<TD WIDTH="14%" VALIGN="MIDDLE" HEIGHT=6>
<FONT SIZE=2><P ALIGN="RIGHT">1.956</FONT></TD>
<TD WIDTH="16%" VALIGN="MIDDLE" HEIGHT=6>
<FONT SIZE=2><P ALIGN="RIGHT">3.039</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP" HEIGHT=6>
<FONT SIZE=2><P ALIGN="RIGHT">271,000,000</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=6>
<FONT SIZE=2><P ALIGN="RIGHT">290,000</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P>Indicated</FONT></TD>
<TD WIDTH="22%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="RIGHT">59,160,000</FONT></TD>
<TD WIDTH="14%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="RIGHT">1.635</FONT></TD>
<TD WIDTH="16%" VALIGN="MIDDLE">
<FONT SIZE=2><P ALIGN="RIGHT">2.541</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">1,368,000,000</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">1,577,000</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="MIDDLE" HEIGHT=56>
<FONT SIZE=2><P>Measured and Indicated</FONT></TD>
<TD WIDTH="22%" VALIGN="MIDDLE" HEIGHT=56>
<FONT SIZE=2><P ALIGN="RIGHT">68,700,000</FONT></TD>
<TD WIDTH="14%" VALIGN="MIDDLE" HEIGHT=56>
<FONT SIZE=2><P ALIGN="RIGHT">1.679</FONT></TD>
<TD WIDTH="16%" VALIGN="MIDDLE" HEIGHT=56>
<FONT SIZE=2><P ALIGN="RIGHT">2.609</FONT></TD>
<TD WIDTH="20%" VALIGN="MIDDLE" HEIGHT=56>
<FONT SIZE=2><P ALIGN="RIGHT">1,639,000,000</FONT></TD>
<TD WIDTH="15%" VALIGN="MIDDLE" HEIGHT=56>
<FONT SIZE=2><P ALIGN="RIGHT">1,866,000</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP" HEIGHT=4>
<FONT SIZE=2><P>Inferred</FONT></TD>
<TD WIDTH="22%" VALIGN="MIDDLE" HEIGHT=4>
<FONT SIZE=2><P ALIGN="RIGHT">7,450,000</FONT></TD>
<TD WIDTH="14%" VALIGN="MIDDLE" HEIGHT=4>
<FONT SIZE=2><P ALIGN="RIGHT">1.480</FONT></TD>
<TD WIDTH="16%" VALIGN="MIDDLE" HEIGHT=4>
<FONT SIZE=2><P ALIGN="RIGHT">2.300</FONT></TD>
<TD WIDTH="20%" VALIGN="BOTTOM" HEIGHT=4>
<FONT SIZE=2><P ALIGN="RIGHT">151,790,000</FONT></TD>
<TD WIDTH="15%" VALIGN="BOTTOM" HEIGHT=4>
<FONT SIZE=2><P ALIGN="RIGHT">188,000</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT SIZE=2><P ALIGN="JUSTIFY"></P>
</FONT><P ALIGN="JUSTIFY">NOTES</P>
<SUP><FONT SIZE=2><P ALIGN="JUSTIFY">1 </SUP>Metal Prices Used: Copper $US 0.85/lb, Gold $US 375/oz, Silver $US 5.25/oz and Palladium $US 200/oz. </P>
<P ALIGN="JUSTIFY"></P>
<SUP><P ALIGN="JUSTIFY">1 </SUP>Assumed Metal Recovery:  Copper 90%, Gold 90%, Palladium 74%, and Silver 75%.</P>
<P ALIGN="JUSTIFY"></P>
<SUP><P ALIGN="JUSTIFY">2</SUP> Cutoff selected for application in the mine plan of the current scoping study and expected to be applied in the</P>
<P ALIGN="JUSTIFY">   newly commissioned pre-feasibility study.</P>
<P ALIGN="JUSTIFY"></P>
<SUP><P ALIGN="JUSTIFY">3</SUP> Blocks greater than cut-off for tonnes and grade are included in the calculation for the specified grade cut-off.</P>
<P ALIGN="JUSTIFY"></P>
<SUP><P ALIGN="JUSTIFY">4 </SUP>Not all tonnage will be recovered in mining, nor will all metal be recovered in milling and processing.</P>
<P ALIGN="JUSTIFY"></P>
<SUP><P ALIGN="JUSTIFY">5 </SUP>The tables above included only blocks above the reported cutoff.  There are also a considerable number of blocks</P>
<P ALIGN="JUSTIFY">   present below this cutoff, some of which will probably be included with the material mined using the proposed</P>
<P ALIGN="JUSTIFY">   mining method.</P>
</FONT><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><U><P ALIGN="JUSTIFY">Table 1:  Afton Main Zone Measured Resource</P>
<P ALIGN="JUSTIFY"></P></B></U>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=584>
<TR><TD WIDTH="9%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Cutoff</P>
<P ALIGN="CENTER">CuEQ</P>
<P ALIGN="CENTER"> %</B></FONT></TD>
<TD WIDTH="18%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Tonnes&gt; Cutoff</P>
<P ALIGN="CENTER">(tonnes)</B></FONT></TD>
<TD WIDTH="49%" VALIGN="MIDDLE" COLSPAN=6 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Grade &gt; Cutoff</B></FONT></TD>
<TD WIDTH="24%" VALIGN="MIDDLE" COLSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Contained Product</P>
<P ALIGN="CENTER">In-situ</B></FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Cu </P>
<P ALIGN="CENTER">%</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Au </P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Ag</P>
<P ALIGN="CENTER"> (g/t)</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Pd </P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">CuEQ</P>
<P ALIGN="CENTER">%</B></FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">AuEQ</P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="11%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Cu </P>
<P ALIGN="CENTER">(Mlbs)</B></FONT></TD>
<TD WIDTH="13%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Au</P>
<P ALIGN="CENTER">(Mozs)</B></FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.40</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">11,180,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.151</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.844</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.057</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.110</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.748</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.716</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">283.74</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.303</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.50</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">10,600,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.198</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.878</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.187</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.113</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.819</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.827</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">280.01</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.299</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.60</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">10,030,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.246</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.913</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.320</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.116</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.891</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.938</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">275.57</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.294</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">*0.70</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">9,540,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.289</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.945</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.438</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.117</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.956</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.039</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">271.15</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.290</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.80</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">9,050,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.333</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.976</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.559</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.118</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.021</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.140</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">266.00</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.284</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.90</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">8,590,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.374</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.008</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.679</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.120</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.084</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.238</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">260.25</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.278</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.00</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">8,110,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.418</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.041</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.815</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.121</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.151</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">3.342</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">253.57</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.271</FONT></TD>
</TR>
</TABLE>

<B><U><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Table 2:  Afton Main Zone Indicated Resource</P>
<P ALIGN="JUSTIFY"></P></B></U>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=584>
<TR><TD WIDTH="9%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Cutoff</P>
<P ALIGN="CENTER">CuEQ</P>
<P ALIGN="CENTER"> %</B></FONT></TD>
<TD WIDTH="18%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Tonnes&gt; Cutoff</P>
<P ALIGN="CENTER">(tonnes)</B></FONT></TD>
<TD WIDTH="49%" VALIGN="MIDDLE" COLSPAN=6 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Grade &gt; Cutoff</B></FONT></TD>
<TD WIDTH="24%" VALIGN="MIDDLE" COLSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Contained Product</P>
<P ALIGN="CENTER">In-situ</B></FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Cu </P>
<P ALIGN="CENTER">%</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Au </P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Ag</P>
<P ALIGN="CENTER"> (g/t)</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Pd </P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">CuEQ</P>
<P ALIGN="CENTER">%</B></FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">AuEQ</P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="12%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Cu </P>
<P ALIGN="CENTER">(Mlbs)</B></FONT></TD>
<TD WIDTH="12%" VALIGN="MIDDLE" HEIGHT=42>
<B><FONT SIZE=2><P ALIGN="CENTER">Au</P>
<P ALIGN="CENTER">(Mozs)</B></FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.40</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">73,610,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.911</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.719</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.164</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.110</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.421</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.208</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1478.64</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.702</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.50</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">68,350,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.959</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.757</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.277</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.114</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.496</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.325</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1445.33</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.664</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.60</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">63,840,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.003</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.792</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.379</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.116</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.562</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.427</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1411.90</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.626</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">*0.70</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">59,160,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.049</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.829</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.487</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.119</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.635</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.541</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1368.40</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.577</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.80</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">54,350,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.100</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.870</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.604</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.121</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.713</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.662</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1318.26</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.520</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.90</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">50,080,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.148</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.908</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.719</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.123</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.787</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.777</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1267.70</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.462</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.00</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">46,120,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.194</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.946</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.833</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.125</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.859</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.889</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1214.23</FONT></TD>
<TD WIDTH="12%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.403</FONT></TD>
</TR>
</TABLE>

<B><U><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Table 3:  Afton Main Zone Inferred Resource</P>
</B></U><P ALIGN="JUSTIFY"></P>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=584>
<TR><TD WIDTH="9%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Cutoff</P>
<P ALIGN="CENTER">CuEQ</P>
<P ALIGN="CENTER"> %</B></FONT></TD>
<TD WIDTH="18%" VALIGN="MIDDLE" ROWSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Tonnes&gt; Cutoff</P>
<P ALIGN="CENTER">(tonnes)</B></FONT></TD>
<TD WIDTH="49%" VALIGN="MIDDLE" COLSPAN=6 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">&nbsp;Grade &gt; Cutoff</B></FONT></TD>
<TD WIDTH="24%" VALIGN="MIDDLE" COLSPAN=2 HEIGHT=17>
<B><FONT SIZE=2><P ALIGN="CENTER">Contained Product</P>
<P ALIGN="CENTER">In-situ</B></FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">Cu </P>
<P ALIGN="CENTER">%</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">Au </P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">Ag</P>
<P ALIGN="CENTER"> (g/t)</B></FONT></TD>
<TD WIDTH="8%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">Pd </P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">CuEQ</P>
<P ALIGN="CENTER">%</B></FONT></TD>
<TD WIDTH="9%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">AuEQ</P>
<P ALIGN="CENTER">(g/t)</B></FONT></TD>
<TD WIDTH="11%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">Cu </P>
<P ALIGN="CENTER">(Mlbs)</B></FONT></TD>
<TD WIDTH="13%" VALIGN="MIDDLE" HEIGHT=35>
<B><FONT SIZE=2><P ALIGN="CENTER">Au</P>
<P ALIGN="CENTER">(Mozs)</B></FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.40</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">10,350,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.761</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.643</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.974</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.109</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.220</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.896</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">173.67</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.214</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.50</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">9,390,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.811</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.683</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.093</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.113</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.299</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.019</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">167.92</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.206</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.60</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">8,430,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.864</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.731</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.211</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.116</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.384</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.151</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">160.60</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.198</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">*0.70</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">7,450,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.924</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.784</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.341</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.120</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.480</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.300</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">151.79</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.188</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.80</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">6,420,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.996</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.851</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.473</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.126</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.598</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.483</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">140.99</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.176</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.90</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">5,680,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.056</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.907</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.578</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.129</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.695</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.634</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">132.26</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.166</FONT></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.00</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">5,090,000</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.109</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.955</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.665</FONT></TD>
<TD WIDTH="8%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.133</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">1.781</FONT></TD>
<TD WIDTH="9%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">2.767</FONT></TD>
<TD WIDTH="11%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">124.47</FONT></TD>
<TD WIDTH="13%" VALIGN="BOTTOM" HEIGHT=17>
<FONT SIZE=2><P ALIGN="RIGHT">0.156</FONT></TD>
</TR>
</TABLE>

<I><FONT SIZE=2><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">*Selected Example of Copper Equivalent Cutoff Grade</P>
<P ALIGN="JUSTIFY">  </P>
</I><P ALIGN="JUSTIFY">Note:  &#9;Mlbs = Million Pounds,  Mozs = Million Ounces</P>
</FONT><P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">Giroux Consultants report that their work entailed estimating the mineral resources of the Afton Main Zone in conformance with the CIM Mineral Resource and Mineral Reserve definitions referred to in National Instrument (NI) 43-101, <I>Standards of Disclosure for Mineral Projects</I>..</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">Mr. Gary Giroux, P.Eng., of Giroux Consultants Ltd., has reviewed and approved the contents of this press release.  In accordance with National Instrument 43-101, this report will be an update of the May 2003 Mineral Resource Study, a technical report.  The updated  resource estimate in conjunction with the Pre-Feasibility report  will be filed on SEDAR within 30 days.</P>
<P ALIGN="JUSTIFY"></P>
<B><U><P ALIGN="JUSTIFY">Afton Underground Exploration</P>
</B></U><P ALIGN="JUSTIFY">The Company is very pleased with the results of the Afton underground exploration (5m X 5m) portal decline, under the direction of Mining Engineer, Michael G. Stoner, P.Eng.,  Competent rock conditions have been encountered in the early stages of excavation and   Mr. Stoner states &quot;the ground was reported fractured but well in filled and proved to be competent&quot;.  These favorable rock conditions are encouraging geotechnically for the continuation of the underground program in 2004.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">The Surface Diamond Drilling is continuing for both the Afton and the Pothook Mineral Zones.</P>

<B><P>Item 6:  Reliance on section 85 (2) of the Act:  </B>Filed on a confidential basis: <B>Not Applicable.</P>

<P>Item 7:  Omitted Information:  Not Applicable</P>

<P>Item 8:  Senior Officer:   &#9;</B>John H. Kruzick 604-687-1629</P>
<B>
<P>Item 9:  Statement of Senior Officer:  </B>"The foregoing accurately discloses the material change referred to herein."</P>

<B><P>Dated at Vancouver, British Columbia on the 18<SUP>th</SUP> day of December, 2003</P>

<P>&quot;signed&quot;</P>

<P>John H. Kruzick, President/Director</P>
</B><FONT SIZE=4>
</FONT><B><P ALIGN="CENTER">SIGNATURES</P>
</B><PRE>
</PRE>
<P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=638>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="JUSTIFY">DRC RESOURCES CORPORATION</B></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="JUSTIFY">(Registrant)</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P ALIGN="JUSTIFY">Date:&nbsp;&nbsp;December 18, 2003</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P ALIGN="JUSTIFY">By:</TD>
<TD WIDTH="47%" VALIGN="TOP">
<I><P ALIGN="JUSTIFY">/s/ John Kruzick</I></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="47%" VALIGN="TOP">
<P ALIGN="JUSTIFY">John Kruzick, President/Director</TD>
</TR>
</TABLE>

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