6-K 1 desertsun6k1998.htm DESERT SUN MINING CORPORATION FORM 6K UNITED STATES SECURITIES AND EXCHANGE COMMISSION

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 6-K


REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 AND 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934



For the Month of ___________________________________________________________________________April 1998



DESERT SUN MINING CORP.

(Name of Registrant)


65 Queen Street West, Suite 810, P.O. Box 67, Toronto ,Ontario, Canada  M5H 2M5

Executive Offices


1.  Press Releases: 4/14, 4/22, 5/22, 5/25, 6/23, 7/31, 9/17, 10/19, 10/23, 11/13 (1998)


2.  BC Form 61-901F Quarterly Report and Interim Financial Statements,

    Second Quarter Ended February 28, 1998, filed 4/29/1998


3.  BC Form 61-901F Quarterly Report and Interim Financial Statements,

    Third Quarter Ended May 31, 1998, filed 6/30/1998



Indicate by check mark whether the Registrant files annual reports under cover of Form 20-F or Form 40-F.   Form 20-F xxx   Form 40-F ___


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):  ____


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): ____



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 Securities Exchange Act of 1934.    Yes ___     No xxx



SEC 1815 (11-2002)   

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.



DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

              Tel: (604) 685-2542n   Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                       TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V

  NASDAQ ELECTRONIC BULLETIN BOARD:  DSUNF



April 9, 1998

NEWS RELEASE



The Company announces that it granted Incentive Stock Options on 1,263,900 shares of the Company's capital stock, exercisable up to April 8, 2003, at a price of $0.23 per share, which price is the average closing price of the Company's shares for the ten trading days immediately preceding April 9, 1998.

The Options granted may not be exercised until Vancouver Stock Exchange approval has been obtained.



DESERT SUN MINING CORP.

[desertsun6k1998002.jpg]

Thomas R. Tough,

President











The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.






DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

    Tel: (604) 685-2542     Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                      TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V

  NASDAQ ELECTRONIC BULLETIN BOARD:  DSUNF




April 22, 1998





NEWS RELEASE



The private placement of 400,000 units at a price of $0.26 per unit announced in the Company's News Release of February 27, 1998, has been cancelled as a result of the placee having withdrawn from the private placement.





DESERT SUN MINING CORP.

[desertsun6k1998004.jpg]

Thomas R. Tough,

President











The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.


DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

   Tel: (604) 685-2542     Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                      TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V

  NASDAQ ELECTRONIC BULLETIN BOARD:  DSUNF



May 21, 1998

NEWS RELEASE



Desert Sun Mining Corp. (the “Company”) announces that on May 20, 1998, it has agreed to a $488,750 private placement of its securities which will consist of the sale of 2,125,000 units at $0.23 per unit.  Each unit consists of one common share and one two-year non-transferable share purchase warrant with each such share purchase warrant entitling the holder to purchase one additional common share of the Company for $0.23 during the first year of the warrant and for $0.26 during the second year of the warrant.  


The proceeds from the private placement will be used for funding the Company’s exploration and development of the Batangas Gold Project in the Philippines as well as general working capital.


A finder's fee of up to $44,150 is payable in connection with the private placement and will be paid in the form of either cash or shares at the election of the finder.


The private placement is subject to its acceptance for filing by the Vancouver Stock Exchange.


The Company also wishes to announce that Patrick Normoyle has tendered his resignation from the Board of Directors effective May 13, 1998.



DESERT SUN MINING CORP.

[desertsun6k1998006.jpg]

Thomas R. Tough,

President






The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.



DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

 Tel: (604) 685-2542     Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                      TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V

  NASDAQ ELECTRONIC BULLETIN BOARD:  DSUNF



May 21, 1998

NEWS RELEASE



Desert Sun Mining Corp. (the “Company”) announces that on May 20, 1998, it has agreed to a $488,750 private placement of its securities which will consist of the sale of 2,125,000 units at $0.23 per unit.  Each unit consists of one common share and one two-year non-transferable share purchase warrant with each such share purchase warrant entitling the holder to purchase one additional common share of the Company for $0.23 during the first year of the warrant and for $0.26 during the second year of the warrant.  


The proceeds from the private placement will be used for funding the Company’s exploration and development of the Batangas Gold Project in the Philippines as well as general working capital.


The private placement is subject to its acceptance for filing by the Vancouver Stock Exchange.


The Company also wishes to announce that Patrick Normoyle has tendered his resignation from the Board of Directors effective May 13, 1998.



DESERT SUN MINING CORP.

[desertsun6k1998008.jpg]

Thomas R. Tough,

President








The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.



DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

 Tel: (604) 685-2542     Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                     TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V




June 23, 1998




NEWS RELEASE



Desert Sun Mining Corp. wishes to announce that Mr. John C. Loretto, P.Eng. has consented to join the board of directors of the Company.  Mr. Loretto is a graduate of the Royal School of Mines, London, UK, and has been active in the mining industry for over 40 years.


The Company is awaiting final approval from the Bureau of Mines of the MPSA application and the subsequent permitting.  The permitting will allow the Company to carry out the drilling of some 24 recommended drill holes totalling 3,350 metres to test the auriferous Ulanin breccia/stockworks zone outlined by previous and recent geological mapping and sampling, trenching, soil sampling and a geophysical survey.




On Behalf of the Board of Directors,



“THOMAS R. TOUGH”



Thomas R. Tough, P.Eng.

President.









The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.




DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

    Tel: (604) 685-2542     Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                     TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V

  NASDAQ ELECTRONIC BULLETIN BOARD:  DSUNF



Dated:  July 31, 1998

NEWS RELEASE



Further to a news release dated May 21, 1998, Desert Sun Mining Corp. (“Desert Sun”) announces the completion of its private placement pursuant to which Desert Sun raised $26,450 through the sale of 115,000 units.  The securities issued pursuant to the private placement are subject to a hold period in British Columbia expiring on November 8, 1998.



DESERT SUN MINING CORP.

[desertsun6k1998010.jpg]

Thomas R. Tough,

President
















The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.






DESERT SUN MINING CORP.


610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

              Tel: (604) 685-2542     Fax: (604) 685-6880


TOLL FREE: 1-800-786-0895                                                                                                      TRADING SYMBOLS

 VANCOUVER STOCK EXCHANGE:   DSM.V

  NASDAQ ELECTRONIC BULLETIN BOARD:  DSUNF



September 17, 1998

NEWS RELEASE



The Company announces that it granted Incentive Stock Options on 50,000 shares of the Company's capital stock, exercisable up to September 16, 2003, at a price of $0.20 per share, which price is the average closing price of the Company's shares for the ten trading days immediately preceding September 17, 1998.

The Options granted may not be exercised until Vancouver Stock Exchange approval has been obtained.



DESERT SUN MINING CORP.



“Nav Badyal”

____________________________________

Nav Badyal,

Director











The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.




DESERT SUN MINING CORP.

610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

Tel: (604) 685-2542     Fax: (604) 685-6880


TRADING SYMBOL:   DSM.V



16 October 1998


NEWS RELEASE


Desert Sun advises that it is progressing with its Batangas Gold Project in the Philippines for which it is awaiting final approval from the Philippine Mines and Geosciences Bureau of the MPSA application and subsequent permitting.  At this time Desert Sun is in the process of submitting a formal response to comments from the MGB requesting supplementary information concerning Desert Sun’s Environmental Work Program, the financial status of Batangas Exploration and Development, and evidence of financial capability to proceed with the project.  Desert Sun hopes to commence its recommended diamond drilling program as soon as possible after the MPSA award.


Management of Desert Sun have also determined, in light of the delays that have been experienced with the Batangas project, to implement a program of diversifying risk through the evaluation and participation in additional international exploration and development projects.  Resource opportunities reviewed to date have included projects in the Philippines, Indonesia, Africa, and Chile.  At this time, Desert Sun is pleased to announce that it has negotiated to acquire a 50% interest in a diamond exploration joint venture in Namibia, Africa.  Terms of the joint venture provide for Desert Sun to acquire its interest in consideration for financial commitments of a minimum of $250,000 a year over a 4 year earn-in period and the financing of a processing plant.  Participation is subject to the negotiation, settlement, and execution of formal documentation, completion of a satisfactory due diligence review of the venture, the Vancouver Stock Exchange accepting notice of the transaction for filing, and Desert Sun establishing the financial capability to proceed with the project.  A finder’s fee is not payable incidental to the transaction.




DESERT SUN MINING CORP.


“Thomas R. Tough”

____________________________________

Thomas R. Tough, P. Eng.

President




The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.




DESERT SUN MINING CORP.

610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

Tel: (604) 685-2542     Fax: (604) 685-6880


TRADING SYMBOL:   DSM.V



October 23, 1998


NEWS RELEASE


Desert Sun Mining Corp. announces that it has agreed to a $300,000 private placement to consist of the sale of 1,200,000 shares at $0.25 per share.  The proceeds from the private placement will be used for exploration and development and general working capital.  A finder's fee of up to $30,000 is to be paid in connection with the private placement.  The private placement is subject to its acceptance for filing by the Vancouver Stock Exchange.


The securities offered will not be or have not been registered under the US 1933 Securities Act, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.



DESERT SUN MINING CORP.


“Thomas R. Tough”


____________________________________

Thomas R. Tough, P. Eng.

President



This news release contains forward-looking statements regarding anticipated agreements and financing.  Forward-looking statements address future events and conditions based on the opinions and estimates of management and therefore involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.  The reader is cautioned not to place undue reliance on forward-looking statements.


The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.








DESERT SUN MINING CORP.

610-650 West Georgia Street, Vancouver, British Columbia, Canada, V6B 4N7

Tel: (604) 685-2542     Fax: (604) 685-6880


TRADING SYMBOL:   DSM.V




Dated:  November 13, 1998


NEWS RELEASE


Desert Sun advises that it has been unable to settle in a timely manner the formal documentation for its diamond exploration joint venture in Namibia previously announced on October 16, 1998.  As a consequence, Desert Sun will not be proceeding at this time with transaction or the private placement announced October 23, 1998.


Desert Sun intends to continue to implement a diversification program, is proceeding with its Batangas Project in the Philippines, and hopes to announce presently the award of the MPSA therefor.



DESERT SUN MINING CORP.



“Thomas R. Tough”


Thomas R. Tough, P. Eng.

President
















The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.






FORM 61


QUARTERLY REPORT - SCHEDULE B AND C





ISSUER DETAILS







NAME OF ISSUER



Desert Sun Mining Corp.


ISSUER'S ADDRESS



#610 - 650 West Georgia Street

Vancouver, BC V6B 4N7


ISSUER TELEPHONE NUMBER



1-604-685-2542


ISSUER FACSIMILE NUMBER



1-604-685-6880


CONTACT PERSON



Thomas R. Tough


CONTACT'S POSITION



Director


CONTACT TELEPHONE NUMBER



1-604-685-6880


FOR QUARTER ENDED



28 February 1998


DATE OF REPORT



29 April 1998





CERTIFICATE



The two schedules required to complete this quarterly report is attached and the disclosure contained therein has been approved by the Board of Directors.  A copy of this quarterly report will be provided to any shareholder who requests it.


  


  


"THOMAS R. TOUGH"

98/04/29


NAME OF DIRECTOR



DATE SIGNED (YY/MM/DD)








"PATRICK NORMOYLE"



98/04/29


NAME OF DIRECTOR



DATE SIGNED (YY/MM/DD)










DESERT SUN MINING.

SCHEDULE B - SUPPLEMENTARY INFORMATION


1. YEAR TO-DATE REQUIREMENTS


(a)

Deferred cost, exploration and development:

 

See interim financial statements


(b)

General and administrative:

 

See interim financial statements

(c)

Expenditures to non-arm length parties:

 

Management fee paid to an officer and director

 

$     30,000

 

Consulting fee paid to a company controlled by an officer and director

 

13,285

 

Legal fees paid to a director of a subsidiary company

 

2,542






$     45,827


2. FOR THE QUARTER ENDED 28 FEBRUARY 1998

(a)

Securities issued:

 

None

  

(b)

Options granted:

  
 

None

  


3. AS AT 28 FEBRUARY 1998

(a)

Authorized and issued share capital:

 

Authorized: 50,000,000 common shares without par value

  
 

Issued and fully paid

Number of

  
  

Shares

 

Amount


Balance - Beginning of period


12,639,063



$ 6,604,407

 

Issued during the period:

   
 

None issued

-

 

-


Balance - End of period


12,639,063



$ 6,604,407



(b)

Summary of options, warrants and convertible securities outstanding:

 

Options

 



687,210


shares exercisable at $0.42 per share on or before December 06, 2000

 

100,000

shares exercisable at $0.81 per share on or before November 05, 1998

 

150,000

shares exercisable at $1.01 per share on or before January 28, 1999










DESERT SUN MINING CORP.

SCHEDULE B - SUPPLEMENTARY INFORMATION (continued)


3. AS AT 28 FEBRUARY 1998 (continued)


(b)

Summary of options, warrants and convertible securities outstanding:(continued)



Warrants

 
 

100,000

shares exercisable at $0.91 per share on or before August 07, 1998

 

100,000

shares exercisable at $0.72 per share on or before January 10, 1999

 

320,000

shares exercisable at $1.00 per share on or before March 06, 1998




(c)

Shares in escrow or subject to pooling:

 

749,980 shares are held in escrow.


(d)

List of directors:

 

Thomas R. Tough

 

Jane Tough

 

Patrick Normoyle

 

Navdip Badyal



























SCHEDULE C - MANAGEMENT DISCUSSION


DESERT SUN MINING CORP.

Quarterly Report to February 28, 1998



SCHEDULE C



REVIEW OF OPERATIONS

During the quarterly period from November 30, 1997 to February 28, 1998:


The Company has been carrying out surface exploration consisting of geological mapping and sampling in the  area of the northeastern extension along the strike of the Ulanin breccia and stockworks zone. In conjunction with the mapping and sampling a GPS survey has been utilized to locate drill sites along a strike length of some 1.4 kilometres. In the course of the work four small scale mining operations were encountered to the to the northeast of the property boundary.


The drill sites are those proposed by the Company=s consultant, Mr. John Perry, P.Geo., in his report dated February 4, 1998. Mr. Perry has recommended a program comprising 24 drill holes totalling a length of some 3,350 metres. The drilling forms Phase I of his recommended drill program proposed in his 1997 report. The purpose of the drilling is to test the Ulanin area for its potential to host bulk mineable resources within the auriferous breccia/stockworks zone identified by results obtained from soil/eluvium geochemistry, surface rock sampling , an IP/resistivity geophysical survey, all recently carried out by Desert Sun Mining Corp., and from previous trenching and pitting carried out during the early 1990's.  


Surface grab samples which assayed gold values ranging from 0.03 gm. Au/tonne to 15.86 gm. Au/tonne in the grid area over the Ulanin Zone and the gold soil anomalies support the possibility of an eastward extension to the breccia/stockworks zone along much of its length.

 

Drill contractors have been visiting the Ulanin site in order to submit their bids for the drill contract to be let.

 

The Company has been doing all that can be done to expedite the approval of the Mineral Processing Sharing Agreement (MPSA) application by the Bureau of Mines. The MPSA is an agreement made with the government of the Republic of the Philippines.


The Company has filed a Form 20F with the United States Securities and Exchange Commission, which is a requirement to maintain the Company=s listing on the NASDAQ Electronic Bulletin Board.


The Company has also filed an Annual Information Form (AIF) with the British Columbia Securities Commission.






FINANCIAL

The Company arranged a private placement, subject to the approval of the Vancouver Stock Exchange, of 400,000 units at a price of $0.26 per unit. Each unit will consist of one common share of the Company and one (1) one-year non-transferable share purchase warrant. Each warrant will entitle the holder to purchase an additional one common share of the Company at a price of $0.26 per share if exercised within the first year.  Each warrant will entitle the holder to purchase an additional one common share of the Company at a price of $0.30 per share if exercised within the second year. The placee withdrew from the private placement which was then subsequently cancelled.


The investor relations activities are presently conducted by Mark Tytherleigh.


Subsequent to the quarterly period ended February 28, 1998 to date:

The Company granted Incentive Stock Options on 1,263,000 shares of the Company's capital stock, exercisable up to April 8, 2003. The granting was filed with, and approved by,  the Vancouver Stock Exchange.





































FORM 61


QUARTERLY REPORT - SCHEDULE A





ISSUER DETAILS







NAME OF ISSUER



Desert Sun Mining Corp.


ISSUER'S ADDRESS



#610 - 650 West Georgia Street

Vancouver, BC V6B 4N7


ISSUER TELEPHONE NUMBER



1-604-685-2542


ISSUER FACSIMILE NUMBER



1-604-685-6880


CONTACT PERSON



Thomas R. Tough


CONTACT'S POSITION



Director


CONTACT TELEPHONE NUMBER



1-604-685-2542


FOR QUARTER ENDED



28 February 1998


DATE OF REPORT



29 April 1998





CERTIFICATE




The one schedule required to complete this quarterly report is attached and the disclosure contained therein has been approved by the Board of Directors.  A copy of this quarterly report will be provided to any shareholder who requests it.





"THOMAS R. TOUGH"

98/04/29


NAME OF DIRECTOR



DATE SIGNED (YY/MM/DD)








"PATRICK NORMOYLE"



98/04/29


NAME OF DIRECTOR



DATE SIGNED (YY/MM/DD)





















DESERT SUN MINING CORP.


INTERIM CONSOLIDATED FINANCIAL STATEMENTS


FOR THE SIX MONTH PERIOD ENDED 28 FEBRUARY 1998 AND 1997


(UNAUDITED)

















DESERT SUN MINING CORP.

Statement 1

Interim Consolidated Balance Sheet

As at 28 February

(Unaudited)

ASSETS

 

1998

1997


Current


Cash


$ 229,115


$ 750,354

 

Accounts receivable

13,285

2,104

 

Prepaid expenses

1,800

7,946

 

Security deposit

3,881

1,333




248,081


761,737


Capital Assets



22,050


6,608


Resource Properties and Deferred




Costs

 

551,344

277,235




$ 821,475


$ 1,045,580





LIABILITIES

   


Current


Accounts payable and accrued



 

liabilities

$ 44,481

$ 23,965

 

Due to related parties

93,572

27,000




138,053


50,965


Non-Controlling Interest in Sun




River Gold Philippines Inc

 

7,080

-


SHAREHOLDERS' EQUITY





Share Capital



6,604,407


6,284,407


Deficit Statement 2



(5,928,065)


(5,289,792)




676,342


994,615




$ 821,475


$ 1,045,580


ON BEHALF OF THE BOARD:





"THOMAS R. TOUGH"


, Director








"PATRICK NORMOYLE"


, Director









DESERT SUN MINING CORP.

Statement 2

Interim Consolidated Statement of Loss and Deficit

For the Six Month Period Ended 28 February

(Unaudited)





  

1998

1997


General and Administrative




Expenses

Amortization

$ 1,398

$ 497

 

Administrative

4,125

-

 

Consulting

-

3,325

 

Listing and filing fees

4,150

4,398

 

Management fees

30,000

18,291

 

Office, telephone and miscellaneous

5,752

3,487

 

Outside property investigation

-

9,719

 

Professional fees

37,487

11,662

 

Rent

11,736

6,742

 

Shareholders= communication

26,776

26,473

 

Transfer agent fees

2,528

6,156

 

Travel and promotion

1,444

2,002




125,396


92,752


Loss Before the Undernoted



(125,396)


(92,752)

 

Resource property costs written off

(42,154)

-


Loss for the Period



(167,550)


(92,752)



Deficit - Beginning of period


(5,760,515)


(5,197,040)


Deficit - End of Period



$ 5,928,065


$ 5,289,792




































DESERT SUN MINING CORP.

Statement 3

Interim Consolidated Statement of Resource Property Costs

For the Six Month Period Ended 28 February

(Unaudited)





  

1998

1997


Mineral


Violeta, Crisantemo, Anaconda, Grau



 

Francia and Progreso Concessions

  
 

Bolivia, S.A.

  
 

Acquisition costs

-

20,757

 

Amortization

-

214

 

Geological

-

7,500

 

Office and miscellaneous

-

114

 

Professional fees

6,979

-

 

Project management

-

2,468

 

Survey

-

33,379

 

Travel

-

4,851




6,979


69,283



Batangas Gold Project



 

South Luzon Island, Philippines

  
 

Acquisition cost

79,476

36,128

 

Amortization

1,060

-

 

Assays

11,563

41

 

Campsite

32,690

-

 

Equipment rental

16,027

-

 

Geological

31,223

7,678

 

Legal

2,542

-

 

Loss on foreign exchange

28,320

-

 

Office and miscellaneous

5,115

281

 

Survey

212

-

 

Travel and promotion

6,982

8,570




215,210


52,698


Oil and Gas


Oil and gas leases, Marion County



 

Illinois, U.S.A.

  
 

Drilling

35,175

-


Costs for the Period



257,364


121,981

 

Balance - Beginning of period

336,134

155,254

 

Resource Property Costs written off

(42,154)

-


Balance - End of Period



$ 551,344


$ 277,235


   




DESERT SUN MINING CORP.

Statement 4

Interim Consolidated Statement of Changes in Financial Position

For the Six Month Period Ended 28 February

(Unaudited)





Cash Resources Provided By (Used In)

1997

1996


Operating Activities


Loss for the period


$ (167,550)


$ (92,752)

 

Items not affecting cash

  
 

Amortization

1,398

711

 

Write off of Resource Property costs

42,154

-

 

Changes in non-cash working capital

24,345

(3,019)




(99,653)


(95,060)


Financing Activities


Issuance of shares


-


591,423

 

Advances to (from) related parties

36,803

(43,247)




36,803


548,176


Investing Activities


Acquisition of resource properties


(79,476)


(56,885)

 

Acquisition of capital assets

(3,699)

(1,389)

 

Amortization

1,060

-

 

Exploration and development expenditures

(177,888)

(65,096)




(260,003)


(123,370)


Net Increase in Cash



(322,853)


329,746

 

Cash - Beginning of period

551,968

420,608


Cash - End of Period



$ 229,115


$ 750,354






















FORM 61

QUARTERLY REPORT - SCHEDULE B AND C

   

ISSUER DETAILS

  
   

NAME OF ISSUER

 

Desert Sun Mining Corp.

ISSUER’S ADDRESS

 

#610 - 650 West Georgia Street

Vancouver, BC V6B 4N7

ISSUER TELEPHONE NUMBER

 

1-604-685-2542

ISSUER FACSIMILE NUMBER

 

1-604-685-6880

CONTACT PERSON

 

Thomas R. Tough

CONTACT’S POSITION

 

Director

CONTACT TELEPHONE NUMBER

 

1-604-685-6880

FOR QUARTER ENDED

 

31 May 1998

DATE OF REPORT

 

30 July 1998

   

CERTIFICATE

  

The two schedules required to complete this quarterly report is attached and the disclosure contained therein has been approved by the Board of Directors.  A copy of this quarterly report will be provided to any shareholder who requests it.

   

“THOMAS R. TOUGH”

98/07/30

NAME OF DIRECTOR

 

DATE SIGNED (YY/MM/DD)

   
   

“NAVDIP BADYAL”

 

98/07/30

NAME OF DIRECTOR

 

DATE SIGNED (YY/MM/DD)

   





















DESERT SUN MINING.

SCHEDULE B - SUPPLEMENTARY INFORMATION


1. YEAR TO-DATE REQUIREMENTS


(a)  

Deferred cost, exploration and development:


See interim financial statements


(b)  

General and administrative:


See interim financial statements


(c)  

Expenditures to non-arm length parties:


Management fee paid to an officer and directory

$  45,000

Geological fee paid to a company controlled by an officer and director

29,406

Consulting fee paid to a company controlled by an officer

12,500

Legal fees paid to a director of a subsidiary company

4,119

 

$  91,025


2. FOR THE QUARTER ENDED 31 MAY 1998


(a)

 Securities issued:

  None

(b)  

Options granted:

  1,263,900 shares at $0.23 per share,  expire April 08, 2003


3. AS AT 31 MAY 1998


(a)

Authorized and issued share capital:

    Authorized: 50,000,000 common shares without par value


Issued and fully paid

Number of

 
 

Shares

Amount

Balance - Beginning of period

12,639,063

$6,604,407

Issued during the period:

  

    On exercise of stock options

250,000

57,500

Balance - End of period

12,889,063

$6,661,907


(b)

Summary of options, warrants and convertible securities outstanding:

    Options

1,013,900

shares exercisable at $0.23 per share on or before April 08, 2003




DESERT SUN MINING CORP.


SCHEDULE B - SUPPLEMENTARY INFORMATION (continued)


3. AS AT 31 MAY 1998 (continued)


(b)

Summary of options, warrants and convertible securities outstanding:(continued)

 

Warrants

 
 

100,000

shares exercisable at $0.91 per share on or before August 07, 1998

 

100,000

shares exercisable at $0.72 per share on or before January 10, 1999

   

(c)

Shares in escrow or subject to pooling:

 

749,980 shares are held in escrow.

  

(d)

List of directors:

 

Thomas R. Tough

 

Jane Tough

 

Navdip Badyal

  



























SCHEDULE C - MANAGEMENT DISCUSSION


REVIEW OF OPERATIONS


During the quarterly period from February 28, 1998 to May 31, 1998:


The Company has been continuing to wait for the final Government review process to be completed and the approval of the Mineral Processing Sharing Agreement (MPSA) application by the Bureau of Mines. The Mineral Production Sharing Agreement (MPSA) covers an area encompassing 2,430 hectares which contains 12 known gold-bearing veins as well as the Ulanin epithermal gold-bearing breccia/stockworks zone. The Ulanin zone is some 200 metres wide and 1.5 kilometers long.


The Company’s consultant, Mr. John Perry, P.Geo., in his report dated February 4, 1998 has recommended a program comprising 24 drill holes totalling a length of some 3,350 metres. The drilling forms Phase I of his recommended drill program proposed in his 1997 report. The purpose of the drilling is to test the Ulanin area for its potential to host bulk mineable resources within the auriferous breccia/stockworks zone identified by results obtained from soil/eluvium geochemistry, surface rock sampling , an IP/resistivity geophysical survey, all recently carried out by Desert Sun Mining Corp., and from previous trenching and pitting carried out during the early 1990's.  


Surface grab samples which assayed gold values ranging from 0.03 gm. Au/tonne to 15.86 gm. Au/tonne in the grid area over the Ulanin Zone and the gold soil anomalies support the possibility of an eastward extension to the breccia/stockworks zone along much of its length.

 

The Company has filed a Form 20F with the United States Securities and Exchange Commission, which is a requirement to maintain the Company’s listing on the NASDAQ Electronic Bulletin Board. Approval is anticipated soon.


FINANCIAL


The Company has entered into a private placement agreement to issue 115,000 units at a price of $0.23 per unit (issued) for total proceeds of $26,450 (received).  Each unit consists of one common share of the Company and one share purchase warrant.  Each warrant entitles the holder to purchase one additional non-transferable common share at a price of $0.23 per share on or before July 07, 1999 or at $0.26 per share on or before July 07, 2000.


Professional fees of $59,853 as shown on the consolidated financial statement consist of $14,260 in accounting fees and $45,593 in legal fees.  Shareholder communication is made up of $35,750 paid to full time and temporary investor relations consultants and the balance of $3,144 is the for the internet service provided by Stock Research Group and the mailing of the AGM material etc.


The investor relations activities are presently conducted by Mark Tytherleigh.


Mr Patrick Normoyle resigned as director of the Company effective May 13, 1998.


Subsequent to the quarterly period May 31, 1998 to date:

Mr John Loretto has been appointed to the board of directors.






FORM 61


QUARTERLY REPORT - SCHEDULE A





ISSUER DETAILS







NAME OF ISSUER



Desert Sun Mining Corp.


ISSUER’S ADDRESS



#610 - 650 West Georgia Street

Vancouver, BC V6B 4N7


ISSUER TELEPHONE NUMBER



1-604-685-2542


ISSUER FACSIMILE NUMBER



1-604-685-6880


CONTACT PERSON



Thomas R. Tough


CONTACT’S POSITION



Director


CONTACT TELEPHONE NUMBER



1-604-685-2542


FOR QUARTER ENDED



31 May 1998


DATE OF REPORT



30 July 1998





CERTIFICATE




The one schedule required to complete this quarterly report is attached and the disclosure contained therein has been approved by the Board of Directors.  A copy of this quarterly report will be provided to any shareholder who requests it.


  





“THOMAS R. TOUGH”

98/07/30


NAME OF DIRECTOR



DATE SIGNED (YY/MM/DD)








“NAVDIP BADYAL”



98/07/30


NAME OF DIRECTOR



DATE SIGNED (YY/MM/DD)





















DESERT SUN MINING CORP.


INTERIM CONSOLIDATED FINANCIAL STATEMENTS


FOR THE NINE MONTH PERIOD ENDED 31 MAY 1998 AND 1997


(UNAUDITED)
















DESERT SUN MINING CORP.

Statement 1

Interim Consolidated Balance Sheet

As at 31 May

(Unaudited)





ASSETS

 

1998

1997


Current


Cash


$ 116,844


$ 830,302

 

Accounts receivable

20,200

6,173

 

Prepaid expenses

3,205

1,134

 

Security deposit

2,256

8,947




142,505


846,556


Capital Assets



20,786


20,979


Resource Properties and Deferred




Costs

 

609,388

412,788




$ 772,679


$ 1,280,323





LIABILITIES

   


Current


Accounts payable and accrued



 

liabilities

$ 43,361

$ 21,324

 

Due to related parties

74,501

23,667




117,862


44,991


Non-Controlling Interest in Sun




River Gold Philippines Inc

 

7,080

-

SHAREHOLDERS’ EQUITY

   


Share Capital



6,661,907


6,604,407


Deficit Statement 2



(6,014,170)


(5,369,075)




647,737


1,235,332




$ 772,679


$ 1,280,323


ON BEHALF OF THE BOARD:





“THOMAS R. TOUGH”


, Director








“NAVDIP BADYAL”


, Director










DESERT SUN MINING CORP.

Statement 2

Interim Consolidated Statement of Loss and Deficit

For the Nine Month Period Ended 31 May

(Unaudited)





  

1998

1997


General and Administrative




Expenses

Administrative

$ 9,125

$ 3,300

 

Amortization

2,132

1,261

 

Consulting

12,500

2,500

 

Listing and filing fees

5,310

6,728

 

Management fees

45,000

25,791

 

Office, telephone and miscellaneous

10,810

24,709

 

Professional fees

59,853

36,681

 

Property investigation

-

9,719

 

Rent

19,544

13,409

 

Shareholders’ communication

38,894

34,273

 

Transfer agent fees

5,534

9,752

 

Travel and promotion

2,799

3,912




211,501


172,035


Loss Before the Undernoted



(211,501)


(172,035)

 

Resource property costs written off

(42,154)

-


Loss for the Period



(253,655)


(172,035)



Deficit - Beginning of period


(5,760,515)


(5,197,040)


Deficit - End of Period



$ 6,014,170


$ 5,369,075





































DESERT SUN MINING CORP.

Statement 3

Interim Consolidated Statement of Resource Property Costs

For the Nine Month Period Ended 31 May

(Unaudited)





  

1998

1997


Mineral


Violeta, Crisantemo, Anaconda, Grau



 

Francia and Progreso Concessions

  
 

Bolivia, S.A.

  
 

Acquisition costs

-

20,757

 

Amortization

-

642

 

Geological

-

7,500

 

Office and miscellaneous

-

114

 

Professional fees

6,979

-

 

Project management

-

2,468

 

Survey

-

33,379

 

Travel

-

4,851




6,979


69,711



Batangas Gold Project



 

South Luzon Island, Philippines

  
 

Acquisition cost

95,662

105,978

 

Amortization

1,590

922

 

Assays

11,562

41

 

Campsite

37,060

1,430

 

Equipment rental

17,428

1,886

 

Geological

46,909

53,552

 

Legal

4,119

-

 

Loss on foreign exchange

29,428

-

 

Office and miscellaneous

16,496

783

 

Survey

212

-

 

Travel and promotion

12,788

23,231




273,254


187,823


Oil and Gas


Oil and gas leases, Marion County



 

Illinois, U.S.A.

  
 

Drilling

35,175

-


Costs for the Period



315,408


257,534

 

Balance - Beginning of period

336,134

155,254

 

Resource Property Costs written off

(42,154)

-


Balance - End of Period



$  609,388


$  412,788


   




DESERT SUN MINING CORP.

Statement 4

Interim Consolidated Statement of Changes in Financial Position

For the Nine Month Period Ended 31 May

(Unaudited)





Cash Resources Provided By (Used In)

1998

1997


Operating Activities


Loss for the period


$ (253,655)


$ (172,035)

 

Items not affecting cash

  
 

Amortization

2,132

1,261

 

Write off of Resource Property costs

42,154

-

 

Changes in non-cash working capital

16,530

(10,531)




(192,839)


(181,305)


Financing Activities


Issuance of shares


57,500


911,423

 

Advances to (from) related parties

17,733

(46,580)




75,233


864,843


Investing Activities


Acquisition of resource properties


(95,662)


(126,735)

 

Acquisition of capital assets

(3,700)

(17,874)

 

Amortization

1,590

1,564

 

Exploration and development expenditures

(219,746)

(130,799)




(317,518)


(273,844)


Net Increase in Cash



(435,124)


409,694

 

Cash - Beginning of period

551,968

420,608


Cash - End of Period



$ 116,844


$ 830,302










































SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Form 6-K to be signed on its behalf by the undersigned, thereunto duly authorized.


Desert Sun Mining Corp. -- SEC File No. 0-29610

(Registrant)


Date: October 20, 2003       By /s/ Stan Bharti_______________________________

                                    Stan Bharti, President/CEO/Director