Suite 114, 186 Sutton Place, Beaconsfield, Quebec CANADA H9W 5S3
Tel (514) 426-8542 Fax (514) 426-8543

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CANADIAN VENTURE EXCHANGE - SYMBOL "GOG"

On behalf of the Board of Directors, I am pleased to present the 1998 Annual Report to shareholders including the financial statements for the fiscal year ending December 31, 1998.

A combination of low commodity prices and investor apathy resulted in a very difficult year in 1998 in the resource industry and particularly the junior exploration sector. This is reflected in the generally low historical market prices of the junior sector. Notwithstanding these negatives, the Company was active in exploration work in two different locations.

Magnetic and electromagnetic surveys were completed on the 92 claim Souart and Barry property in Quebec, which resulted in the further definition of two regional magnetic anomalies similar to those associated with other gold occurrences in the area. Further work is planned in 1999, possibly with a joint-venture partner.

Rubicon Minerals Corporation, who are earning a 50% interest in the Company’s McCuaig property in Red Lake, Ontario completed additional exploration on the property in 1998. Rubicon indicates that the geological components documented in the Dorion-McCuaig Target Corridor, which includes Golden Tag’s property, are similar to those proximal to ore at major mines in the camp. Rubicon states that it plans to continue work on the Company’s property in 1999.

During the latest period, management of the Company have investigated a number of potential projects including those in the non-resource sector, and particularly the emerging technology sector. While none of those analyzed to date has met the Company’s investment criteria, management will continue to seek out opportunities in both sectors.

We thank shareholders for their continued support.

On behalf of the Board of Directors,

--signed—

Marc A. Carrier

President

April 30, 1999

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