options revalued re defiance merger

Hi,

Late announcement today was known by someone prior to close it seems.

REPORT

Proposed Merger to Defiance Mining Corporation
- amendment to listed option exchange ratio

St Barbara Mines Limited and Geo~naque
Explorations Ltd advise that the exchange ratio for
St Barbara Mines Limited listed opiion holders has been
amended from 0.039 to 0.081 Defiance common shares
for each St Barbara Mines Limited listed option.

The exchange raiiio for the purposes of the
Business Combination announced on 9 January 2003 for all other security holders remains unchanged.

A resource statement in compliance with JORC
has been completed for the Tasiast project and is
set out on the attached joint share market release.
A joint share market release follows.

FWIW

bye.dub