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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: VAUGHN who wrote (57)	7/18/2002 12:12:20 PM
From: Famularo	Read Replies (1) of 16204

Caldera and SouthernEra complete Yilgarn drill program SouthernEra Resources Ltd SUF Shares issued 44,750,300 Jul 17 close $5.64 Thu 18 Jul 2002 News Release See (CDR) News Release Mr. Chris Reindler reports CALDERA RESOURCES INC. - YILGARN CRATON DIAMOND PROJECT - WES ... Caldera Resources has completed a drill program at the Yilgarn craton project. The Yilgarn project, which is located in Western Australia and covers approximately 1,300 square kilometres, is joint ventured with SouthernEra Resources Ltd. Nine aeromagnetic anomalies were tested by reverse circulation drilling for a total of 677 metres. The drill program included deeper drilling at four targets which were drilled during 2001 to depths ranging from 38 metres to 45 metres. Three of these targets were drilled beyond 70 metres during the recent program and five new targets were drilled, including three to depths between 60 metres to 80 metres. The joint venture partners consider the drill program to be a success with the recovery of fresh ultrabasic material from some of the holes. Thin sections of drill chips from four anomalies are currently being examined by a consultant petrologist. Further work is required at other targets; this will include samples being processed in Perth for heavy mineral concentration and indicator mineral recovery. Approximately 80 samples have been submitted for multielement geochemical analysis. Drill material from two targets is of particular interest to the joint venture partners. Forty kilograms of sample from each of these targets will be sent to Canada for indicator mineral and microdiamond recovery. Results of the petrographic analyses will be made available when received by Caldera. Indicator mineral and microdiamond results are expected during the current quarter. Martin E. Jackson, MAusIMM, is the qualified person responsible for the technical information contained in this press release. Other activities Caldera is engaged in diamond exploration in Australia through eight projects. Four projects are located in the Pilbara region of northern Western Australia, and include a joint venture with BHP Billiton Ltd. One project is located in the Eastern Goldfields area of Western Australia, joint ventured with SouthernEra Resources Ltd. The Northern Territory diamond projects are located in the Northern Territory and the Abminga diamond project is located in South Australia. Caldera also has five base metal/gold projects. One project is located in the Pilbara region of Western Australia and the remaining four projects are in South Australia.

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