PSE Circular for Brokers No. 1265-98

June 8, 1998 PSE CIRCULAR FOR BROKERS NO. 1265-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. 5 June 1998 Date of Report (Date of earliest event reported) 2. SEC ID No. 40938 3. BIR Tax ID No. 041-000-169-117-V 4. UNITED PARAGON MINING CORPORATION Exact name of registrant as specified in its charter 5. Philippines 6. _____ (SEC) Use Only) Province, country or other Industry Classification Code jurisdiction of Incorporation 7. 8th Floor, Quad Alpha Centrum 125 Pioneer Street Mandaluyong City 1550 Address of principal office Postal Code 8. (63 2) 636-5133 to 5136 Registrant's telephone number, including area code 9. n/a Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock 1,734,847,498 shares 11. Indicate the item numbers reported herein: Item 9 Others Events Please be advised that in an Order dated 13 May 1998, the Pollution Board formally lifted the Cease and Desist Order (CDO) issued against the Company on 08 November 1995. The said Order was issued after the Company's full payment of fines amounting to Php1,546,000.00 for violation of applicable effluent standards particularly on Cyanide (CN) and Total Suspended Solids (TSS). On 18 June 1997, final sampling was conducted by the Regional Office (DENR Region V) and such sampling revealed that the Company's effluent is now complying with the applicable DENR standards. Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNITED PARAGON MINING CORPORATION Registrant (SGD.) AUGUSTO B. SUNICO Corporate Secretary