A

RI
C
Z
O
As
O
N
at
N
(U
S
Oc
A
na
O
to
ST
ud
LI
be
A
ite 1998 1997
Dr
R
d)
A
31
R
T
A
E
ss
Cu
et Cash
rre $$ 4,700,302 $ 625,585
nt Accounts receivable 52,219 7,232,955
Advances to affiliated company - 1,148,609

4,752,521 9,007,149

In 86,521 86,521
ve
Re 3,708,618 3,650,869
st
fu
Re 33,204,993 30,681,840
nd
so
ur $ 41,752,653 $ 43,426,379

Li
abil
Cu
itie
rre Accounts payable $ 133,608 $ 2,146,256
nt Notes payable to affiliated companies - 6,577,595

133,608 8,723,851

S
ha
re
Ca 44,691,979 37,534,448
pit
De (3,072,934) (2,831,920)
al
fici
t 41,619,045 34,702,528

$ 41,752,653 $ 43,426,379
Ap
pr
ov
“Clive T. Johnson” Director

“Roger Richer” Director

 1998 1997

E
x Office and administrative $ 71,055 $ 97,322
p Accounting and auditing 62,270 64,230
Shareholder information and public relations 51,276 81,633
Interest and bank charges 26,195 128,441
Rent and utilities 20,808 25,128
Legal 15,948 4,192
Management 15,000 15,000
Transfer agent and trustee 5,918 4,017
Listing and filing 2,843 4,725

271,313 424,688

L (271,313) (424,688)
o
ss
In 62,315 6,731
te
F 640,119 (71,749)
re
o
W (619,583) -
re
ri
te
N (188,462) (489,706)
et
lo
D (2,884,472) (2,342,214)
ef
ic
D $ (3,072,934) $ (2,831,920)
ef
ic
L $ - $ (0.01)
o
ss
A
R

1998 1997

O
p Net loss for the period $ (188,462) $ (489,706)
Non-cash charge
Write-off of resource property 619,583 -
Change in non-cash working capital 188,916 (7,181,223)

Cash from (to) operating activities 620,037 (7,670,929)

F
i Shares issued for cash, net of costs - 1,947,811
n Promissory notes repaid (issued) by
associated companies, net (807,088) 6,577,595

Cash from (to) financing activities (807,088) 8,525,406

I
n Acquisition, exploration and development (869,052) (8,050,058)
Refundable Chilean tax (25,024) (1,148,187)
Net proceeds from the Aldebaran transaction - 7,164,480

Cash to investing activities (894,076) (2,033,765)

D (1,081,127) (1,179,288)
e
C 5,781,429 1,804,873
a
C $ 4,700,302 $ 625,585
a
s

ARIZONA STAR RESOURCE CORP.

As at October 31, 1998
 (Unaudited)

Schedule A
RESOURCE PROPERTIES

Aldebaran Ceniza Imperial County

Property Property Royalty Interest Total

B $ 31,985,280 $ $ 970,244 $ 32,955,524

al -
an
E
ce D
xp - - - -
as Fi
ril
at el and - 30,194 - 30,194
Fi equipment 249,469 241,038 - 490,507
el
E
nd geological - 40,164 - 40,164
gi consulting
Hy - - - -
ne
dr
Pr - 33,565 - 33,565
og
oj
Tr - - - -
ec
en
G - - 7,185
t
ch
eo
A - 7,185 8,472 - 8,472
m
lo
ss
Tr - 8,598 - 8,598
ay
av
A - 250,367 - 250,367
el
cq
ui 249,469 619,583 - 869,052

32,234,749 619,583 970,244 33,824,576

W - (619,583 - (619,583
rit ) )
B $ 32,234,749 $ $ 970,244 $ 33,204,993
al -

ARIZONA STAR RESOURCE CORP.

As at October 31, 1998
(Unaudited)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. Related party transactions

During the period, in addition to those disclosed elsewhere in the financial statements, the
Company had the following transactions and balances with Bema Gold Corporation and affiliated
companies:

1998 1997
Costs incurred
Project management and field work
on resource properties $ 43,874 $ 831,511
Accounting $ 29,868 $ 40,974
Office and administrative $ 59,011 $ 85,675
Management fees $ 15,000 $ 15,000
Public relations $ 18,330 $ 34,117
Rent and utilities $ 20,808 $ 25,128
Interest $ 24,346 $ 126,200
Accounts payable $ 60,871 $ 1,768,203

2. Office and administrative

Office and administrative consists of:

Salaries and benefits $ 59,011

Secretarial and director’s expense 7,460
Office supplies and miscellaneous 4,584
$ 71,055

3. Shareholder information and public relations

Shareholder information and public relations consists of:

Printing, electronic transmitting and mailing expenses $ 32,946

Salaries and benefits 18,330
$ 51,276

4. Comparative amounts
Certain of the prior period’s comparative figures have been reclassified to conform with the
presentation adopted for the current period.