<ARTICLE>                     5

<CIK>                         0000818029
<NAME>                        International Precious Metals Corporation

<CURRENCY>                    Canadian dollar
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   MAR-31-1997
<EXCHANGE-RATE>                                0.7222
<CASH>                                          6,309,000
<SECURITIES>                                            0
<RECEIVABLES>                                           0
<ALLOWANCES>                                            0
<INVENTORY>                                             0
<CURRENT-ASSETS>                                7,938,000
<PP&E>                                          1,312,000
<DEPRECIATION>                                          0
<TOTAL-ASSETS>                                 23,059,000
<CURRENT-LIABILITIES>                             714,000
<BONDS>                                                 0
<PREFERRED-MANDATORY>                                   0
<PREFERRED>                                             0
<COMMON>                                       16,586,090
<OTHER-SE>                                              0
<TOTAL-LIABILITY-AND-EQUITY>                   23,059,000
<SALES>                                                 0
<TOTAL-REVENUES>                                        0
<CGS>                                                   0
<TOTAL-COSTS>                                     840,000
<OTHER-EXPENSES>                                        0
<LOSS-PROVISION>                                        0
<INTEREST-EXPENSE>                                      0
<INCOME-PRETAX>                                  (804,000)
<INCOME-TAX>                                            0
<INCOME-CONTINUING>                              (804,000)
<DISCONTINUED>                                          0
<EXTRAORDINARY>                                         0
<CHANGES>                                               0
<NET-INCOME>                                     (804,000)
<EPS-PRIMARY>                                          (0.05)
<EPS-DILUTED>                                          (0.05)