A report from the Vancouver mining conference by GATA Chairman Bill Murphy

9:15p ET Friday, June 7, 2002

Dear Friend of GATA and Gold:

The press release below from Central Fund
of Canada (CEF on the American Stock Exchange)
says the company is issuing 11.5 million
shares to purchase US$50 million in gold and
silver bullion. This is probably as good for
gold and silver as a mining company's closing
some hedges.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

TORONTO, June 6 (CNW) -- Central Fund of Canada
Ltd. of Calgary, Alberta, announced today that
it has entered into an agreement with a syndicate
of underwriters led by CIBC World Markets Inc.
under which the underwriters have agreed to buy
and sell to the public, in Canada and in the
United States under the multijurisdictional
disclosure system, 11,584,660 Class A Shares
of Central Fund.

The purchase price of U.S. $4.19 (Cdn.$6.43)
per Class A Share is expected to result in
proceeds of approximately U.S. $48.5 million
(Cdn.$74.5 million). Substantially all the net
proceeds of the offering have been committed
to purchase gold and silver bullion in a ratio
of approximately 50 ounces of silver for every
one fine ounce of gold, in keeping with the
investment policies established by the board
of directors of Central Fund, for settlement
at closing of the issue.

Closing is expected on or about June 13, 2002.

------------------------------------------

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Free sites:

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Subscription site:

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--------------------------------------------

COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS

Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com

Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net

Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
a href=http://www.gloomdoom.comhttp://www.gloomdoom.com/a
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com

Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com

Miles Frankl Ltd.
3601 Park Center Building
Suite 120
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel

Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com

Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
a href=http://www.buycoin.comhttp://www.buycoin.com/a
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
figoldstein@buycoin.com

----------------------------------------------

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