Brigadier Gold Limited
CDNX symbol YRG
P.O. Box 94540, 2900 Steeles Avenue East
Thornhill, Ontario L3T 7R5
tel: (416) 410-7956 fax: (905) 707-1520

e-mail: president@brigadiergold.com
Website: http://www.brigadiergold.com

Report to Shareholders

Brigadier Gold Limited’s wholly owned Netherlands Antilles subsidiary, Cyber Provider Corporation N.V., is pleased to announce that Casino 8 Online commenced its fourth year of operation in April, 2001. The activity at  Casino 8 Online for the year ended December 31, 2000 was approximately US$9.6 million compared to US$20.8 million for the year ended December 31, 1999. The total activity for the first quarter of 2001 for Casino 8 Online, from January 1, 2001 to March 31, 2001, was approximately US$4.5 million, compared to the first quarter of 2000, from January 1, 2000 to March 31, 2000, which was approximately US$1.7 million.

The Revenue for Brigadier Gold Limited for the year ended December 31, 2000 amounted to CDN$463,478 compared to CDN$797,080 for the year ended December 31, 1999. The Net Loss for the year ended December 31, 2000  totaled CDN$9,435 compared to CDN$140,645 for the year ended December 31, 1999. The Basic Loss per share for the year ended December 31, 2000 amounted to $0.00 compared to a Basic Loss per share of $0.04 for the year ended December 31, 1999.

The Revenue for the first quarter ended March 31, 2001 amounted to CDN$175,441 compared to CDN$69,473 for the first quarter ended March 31, 2000. The Net Loss for the first quarter ended March 31, 2001 totaled CDN$3,841 compared to CDN$17,209 for the first quarter ended March 31, 1999. The Basic Loss per share for the first quarter ended March 31, 2001  amounted to nil compared to nil for the first quarter ended March 31, 2000.

Casino8online’s software supplier, CryptoLogic Inc., this month launched JackpotMania.com, a cross-casino portal that connects 12 of the world’s most popular brand name and land-based gaming organizations to worldwide progressive jackpots. Progressive games -- which offer fast-growing bonus jackpots that grow as more people play. Casino8online’s players will now be able, through the latest in Progressive Games,  to participate in faster and larger growing jackpots, and as a licensee of Cryptologic, this puts Casino8online at: http://www.casino8online.com in a strong position to offer its players the newest and latest in online entertainment. JackpotMania.com offers a single online destination featuring six new progressive slots, video poker and Caribbean poker games.  The site brings together some of the best-known gaming brands, including Casino8Online.com. The progressive jackpot games feature US$0.25 and US$1.00 “Triple Olives” slots and “Super Jackpot” video poker, as well as a tabletop progressive counter on Caribbean poker tables with a starting value of US$100,000. Also, CryptoLogic recently released a brand-new US$1.00 slot “Rags to Riches” with a starting value of US$100,000.

Available at one access location or through any of CryptoLogic’s participating licensees, which include Casino8online, InterCasino.com, WilliamHillCasino.com and  TheSands.com, JackpotMania.com runs real-time tallies displaying each growing jackpot as games are played simultaneously across these online casinos, around the world.  The JackpotMania.com Web site will feature winner information, links to CryptoLogic-licensee contests and special offers, e-mail notification to alert players when jackpots reach high levels and an affiliate program.

The software and support services for the various games used by Casino8online are being provided by WagerLogic Limited, a wholly owned subsidiary of CryptoLogic Inc. (TSE symbol: CRY). Casino8online is using CryptoLogic Inc.'s secure Electronic Cash Settlement system for the handling of transactions. Wagerlogic will initiate a continuing marketing campaign commencing May 2001 using both print media and Internet media. This is anticipated by management to enhance Casino8Online’s  presence in the marketplace.
 
Management perceives that the world gold market price may be recovering in the near future.  The Company plans to carry out the exploration on the Benson Creek gold property with the objective of drill delineation of the 1937-5 gold zone once this occurs. In addition, your Company has been investigating a number of potential property acquisitions involving the diamonds and platinum group elements.

Brigadier Gold Limited trades on the Canadian Venture Exchange under the symbol YRG and has  3,520,465 common shares outstanding.

On behalf of the Board of Directors of Brigadier Gold Limited,
Herb Kokotow
President & Chief Executive Officer
May 22, 2001