In June 1986, opposition MPP Andy Brandt disclosed to the legislature that Fontaine had failed to disclose ownership of 17,000 shares in Golden Tiger, a mining company operating in Ontario and Quebec. Fontaine acknowledged his mistake, saying that he had forgotten to disclose the shares as required be Peterson's conflict-of-interest guidelines. He resigned both his portfolio and his seat in the legislature on June 26, stating that he wanted to be exonerated by the people of his riding in a by-election. The Progressive Conservatives and New Democratic Party refused to run candidates, and described the entire affair as farcical. Fontaine easily defeated a spread of minor candidates; he was not immediately re-appointed to cabinet, but served as a parliamentary assistant in the first part of 1987.