"There are no secrets in life, just hidden truths that lie beneath the surface"

“What else are the dissidents hiding? And what does this say about the dissidents’ likely conduct if they were on the St. Elias board?”

Continued Ms. McCIenahan, “The dissidents have not provided any details of how they intend to advance St Elias’ portfolio of high potential properties, nor do they have proposed a management team to operate St. Elias or the ability to raise capital. The combination of inadequate disclosure, lack of plans and inexperience means that the dissidents do not deserve shareholders’ support.”

DIRECTORS’ REPORT TO SHAREHOLDERS

Crosscreek Mining Corporation (the “Company”) was established in 1995 to acquire and explore mineral properties. The Company acquired options to 100%

interest in the Nemo and Crystal Hill Properties in Arizona and subsequently completed exploration programs on these properties. Both of these properties

were considered highly prospective and it was the Company’s intention to obtain a listing on the Vancouver Stock Exchange. The collapse of Bre-X in 1997, the

coincidental and prolonged decline in the price of gold and the rise of the “tech” markets substantially resulted in an absence of investment capital and interest in

junior exploration. For these reasons, the Company was not able to complete its listing.

At the Company’s upcoming 2001 annual general meeting, management is seeking approval to reorganize the Company. Management believes that a

reorganization of the share capital is essential to securing future equity financing.

Management intends to pursue a new listing and complete an initial public offering as soon as possible.

ON BEHALF OF THE BOARD OF DIRECTORS,

(signed “Lori McClenahan”)

Lori McClenahan,

President

May 15, 2001

Board of directors as listed on 1999 IPO:

Management: The directors and officers of the Issuer are:

Lori L. McClenahan - Director, President, Chief Executive Officer

Ronald K. Shimoda - Director

Duncan J. Bain - Director

Murray Newman - Director

Lloyd C. Brewer - Vice President, Exploration

Dione E. Bitzer - Secretary and Chief Financial Officer

Crosscreek Mining Corporation

Status

Cease Traded as of 2003-06-03
In Default as of 2003-05-28