Deloitte & Touche Inc. 2400 Scotia Centre 700 - 2nd Street S.W. Calgary, Alberta T2P 0S7 Telephone: (403) 267-1750 Fax: (403) 263-2390

February 9, 1998

Re: FIA Interim Report of Investigations into Tampering with Bre-X Minerals Ltd. Busang Core Samples - October 3, 1997 (the "FIA Report")

On April 22nd, 1997 Forensic Investigative Associate Inc. ("FIA") were retained by Price Waterhouse to provide certain services. As a result of that retainer FIA prepared and released the FIA Report to Bre-X Minerals Ltd.

The Court of Queen's Bench of Alberta has authorized the trustee to release it and we are making it available for the benefit of Bre-X creditors.

We hereby caution you that Deloitte & Touche Inc. has not attempted to verify the report's accuracy and by providing it to you is not to be deemed to adopt the findings made or conclusions reached.

At the end of this package is a letter dated January 22^nd, 1998 from Dr. Kavanagh's lawyer containing his comments, which Deloitte & Touche Inc. has not attempted to verify.

The FIA Report remains the property of the estate of Bre-X Minerals Ltd. No one is authorized to reproduce or permit reproduction of the FIA Report for commercial or other advantage without the express written consent of the trustee.

Yours truly,

Deloitte & Touche Inc.,
in its capacity as Trustee in Bankruptcy of
Bre-X Minerals Ltd.
and not in its personal capacity.

per: Greg Pollard, CA, CIP
Senior Vice-President