<PAGE>
RICHARD L. WYNNE (SBN 120349)
CHRISTOPHER W. COMBS (SBN 148389)
WYNNE SPIEGEL ITKIN, A Law Corporation
1901 Avenue of the Stars, 16th Floor
Los Angeles, California 90067
Telephone: (310) 551-1015
Facsimile: (310) 551-3059
Attorneys for Reorganized Debtor
UNITED STATES BANKRUPTCY COURT
CENTRAL DISTRICT OF CALIFORNIA
SAN FERNANDO VALLEY DIVISION
In re Case No. SV 99-23968-AG
CASMYN CORP., Chapter 11
a Colorado corporation,
Debtor. ORDER AUTHORIZING NON-MATERIAL
MODIFICATION OF DEBTOR'S SECOND
AMENDED CHAPTER 11 PLAN OF
REORGANIZATION
Date: June 1, 2000
Time: 10:30 a.m.
Place: Courtroom 302
21041 Burbank Blvd
Woodland Hills, CA 91367
At 10:30 a.m. on June 1, 2000, a hearing took place before the
undersigned United States Bankruptcy Judge to consider the MOTION BY
REORGANIZED DEBTOR FOR ORDER AUTHORIZING NON-MATERIAL MODIFICATION OF
DEBTOR'S SECOND AMENDED CHAPTER 11 PLAN OF REORGANIZATION (the "Motion"),
filed by Casmyn Corp., a Colorado corporation, formerly debtor and debtor in
possession, currently the reorganized debtor, now known as Aries Ventures
Inc., a Nevada corporation (the "Debtor"). Christopher W. Combs, of Wynne
Spiegel Itkin, A Law Corporation, appeared for the Debtor. Other appearances
were noted on the record.
Having considered the Motion, the Memorandum, Declaration, and Exhibits
attached to the Motion, and the representations of counsel at the hearing on
the Motion,
1
<PAGE>
notice of the Motion having been appropriate in the circumstances, no
objection to the Motion having been made, the DEBTOR'S SECOND AMENDED CHAPTER
11 PLAN OF REORGANIZATION (the "Plan") having already gone effective on the
Effective Date (as that term is defined in the Plan) pursuant to the ORDER
CONFIRMING DEBTOR'S SECOND AMENDED CHAPTER 11 PLAN OF REORGANIZATION, which
was entered on March 31, 2000 (the "Confirmation Order"), and in which the
Court determined that all requirements for confirmation of the Plan as set
forth in the Plan and the Bankruptcy Code had been met, the modification of
the Plan proposed in the Motion being a non-material modification of the Plan
that improves the treatment of creditors and shareholders under the Plan, and
good cause existing for approving the relief requested in the Motion, the
Court
ORDERS that the Motion shall be and it hereby is approved; and the Court
further
ORDERS that notwithstanding anything to the contrary in the Plan and the
ORDER CONFIRMING DEBTOR'S SECOND AMENDED CHAPTER 11 PLAN OF REORGANIZATION,
which was entered on March 31, 2000, the Debtor shall be and it hereby is
authorized to take any and all steps necessary to distribute all or a
majority of the New Goldco Common Stock (as defined in the Plan) directly to
its creditors and shareholders, rather than issuing the New Goldco Warrants
(as defined in the Plan) to its creditors and shareholders, as set forth in
the Motion, and the Debtor shall not be required to issue any New Goldco
Warrants under the Plan.
DATED: JUNE 1, 2000
/s/ ARTHUR M. GREENWALD
-----------------------------------------
THE HONORABLE ARTHUR M. GREENWALD
UNITED STATES BANKRUPTCY JUDGE
2
