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HOMESTAKE MINING COMPANY & INTERNATIONAL CORONA ANNOUNCE AGREEMENT

 HOMESTAKE MINING COMPANY & INTERNATIONAL CORONA ANNOUNCE AGREEMENT
 SAN FRANCISCO, March 13 /PRNewswire/ -- Homestake Mining Company (NYSE: HM) and International Corona Corporation (AMEX: ICR; Toronto) today announced an agreement in principle regarding a business combination between Homestake and International Corona.
 The business combination is expected to be accomplished by a share exchange offer for all of International Corona's common shares. Homestake will offer 0.35 of a Homestake common share for each International Corona common share and will account for the business combination as a pooling of interests. Dundee Bancorp Inc., Corona's largest shareholder, has agreed to deposit its shares under the Homestake offer.
 Homestake is an international gold mining company with major gold operations in the United States and Australia. Upon completion of the business combination, Homestake will become one of the largest gold producers in the world with anticipated 1992 production of 1.8 million ounces. It will have gold reserves of approximately 20 million ounces. As a result of the combination, Homestake will expand its operations in Canada to include Corona's long-life, low cost mines in the Hemlo District in Ontario. Homestake's technical expertise and financial strength will be instrumental in the development of the important Eskay Creek deposit in British Columbia.
 The agreement in principle was reached following the conduct of mutual due diligence investigations over the past several weeks. The business combination is subject to approval by the boards of directors of Homestake and International Corona, approval by the shareholders of Homestake and all requisite regulatory approvals.
 -0- 3/13/92
 /CONTACT: Gene G. Elam, chief financial officer of Homestake Mining Company, 415-981-8150; or Peter Steen, president of International Corona, 604-669-1011/
 (HM ICR) CO: Homestake Mining Company; International Corona Corporation ST: California, Vancouver IN: MNG SU:


TS -- NY006 -- 7638 03/13/92 06:26 EST
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Publication:PR Newswire
Date:Mar 13, 1992
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