Some of the statements contained in these Web-pages relate to future events and are considered to be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. These statements do not involve historical facts and pose special risks and uncertainties. In evaluating these forward-looking statements, you should be mindful of these potential risks and uncertainties, including: the likelihood that Patrician will continue to incur losses from operations pending development of its mining properties, and the uncertainty that it will be able to continue as a going concern; the likelihood that Patrician will need to obtain significant additional financing in order to develop its properties; the effect of extensive regulatory controls over mining operations; the environmental and other risks associated with mining; the absence of established proven or probable reserves on the Patrician's mining properties; fluctuations in the prices of base metals and gold; and other factors that may affect future results. These risks and uncertainties, which may not be complete, are described in more detail below.

No Significant Revenues from Operations. Patrician has had no significant revenues from mining operations, has experienced losses from operations for each of the last four years, and at December 31, 1997 had a working capital of $103,000. Patrician has not yet commissioned a feasibility study to determine whether large-scale mining of its properties is warranted, and will not do so until further exploratory work has been conducted. If large-scale mining is warranted, significant additional funds will be required to construct mining facilities and provide working capital. Although Patrician believes such funds can be obtained from several sources, including the sale of additional shares of Common Stock, bank borrowings or a joint development or similar arrangement with another mining company, no assurance can be given that such funds will in fact be obtained.

Extensive Regulation of the Mining Industry. Patrician's business is subject to extensive federal, provincial, and local governmental controls and regulations, including regulation of mining and exploration operations, discharge of materials into the environment, disturbance of land, reclamation of disturbed lands, threatened or endangered species, and other environmental or ecological matters. Generally, compliance with these regulations requires Patrician to obtain permits issued by federal, provincial and local regulatory agencies. Certain permits require periodic renewal or review of their conditions. Although Patrician believes it is currently in compliance with all such permitting requirements, it cannot predict whether it will be able to obtain and maintain all permits needed for anticipated future mining operations. Compliance requirements for new mines and mills may require substantial additional control measures that could materially affect the cost of proposed operations or delay the commencement of such operations.

Risks Inherent in Mining. Patrician is subject to all of the risks inherent in the mining industry, including environmental hazards, industrial accidents, labor disputes, unusual or unexpected geologic formations, cave-ins, flooding and periodic interruptions due to inclement weather. These risks could result in damage to, or destruction of, Patrician's mineral properties and any production facilities it may construct, personal injury, environmental damage, delays, monetary losses and legal liability. Although Patrician can be expected to maintain insurance within ranges of coverage consistent with industry practices, no assurance can be given that such insurance will be available at economically feasible premiums. Insurance against environmental risks (including pollution or other hazards resulting from the disposal of waste products generated from exploration and production activities) is not generally available to Patrician or other companies in the mining industry.

The Effect of Fluctuating Base Metals and Gold Prices. Patrician's operations are significantly influenced by the prices of base metals and gold. These prices fluctuate widely and are affected by numerous factors beyond it's control, such as inflation, the strength of the Canadian dollar and foreign currencies, global and regional demand, and the political and economic conditions of major producing countries throughout the world.

No Proven or Probable Reserves. It has not yet been established whether Patrician's mining properties in Canada contain either proven or probable reserves and no assurance can be given that any reserves will be established. Although Patrician believes that significant reserves exist on the properties, based on engineering and geological studies, which have been completed, it has not undertaken a significant evaluation of the properties nor commissioned the preparation of an independent reserve report.