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Gold/Mining/Energy : LAYFIELD RESSOURCES (LAY-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: hedger who wrote (499)	6/14/1999 3:14:00 PM
From: Charles Kalb	Read Replies (1) \| Respond to of 528

News Release - Monday, June 14, 1999 Molopo Agreement Renegotiated - Second Phase Of Drilling Planned For Molopo =================================================================== Layfield Resources Inc. is pleased to report the renegotiated terms for its acquisition of an interest in the Molopo Diamond Property in Botswana. Under the terms of the prior agreement, Layfield was required to issue 200,000 shares of Layfield and return 250,000 shares of Southern Africa Minerals Corporation (SAF) to SAF by May 15, 1999 in order to maintain Layfield's option to earn a 75% interest in this property from Southern Africa Minerals Corporation, who will retain a 25% participating interest. The date to make these payments has now been extended by 12 months to May 15, 2000. All other terms of the agreement are unchanged. Layfield plans to commence a second phase drill program, budgeted at US$ 125,000 prior to the end of June 1999. Layfield can earn an interest in over 1.7 million acres in the Molopo property, which is located along the same structural lineament that hosts the Jwaneng Mine (the richest producing diamond mine in the world). Botswana is the world's largest diamond producing country, by value, yielding 24% of the world's annual diamond production. Sporadic exploration in this area over the last 25 years has discovered over 60 kimberlite pipes, some of which are extremely large. Only one of these, the M1 pipe, which is the largest known pipe in the world, has undergone any detailed exploration. There are over 100 geophysical targets that show the characteristics of kimberlite pipes and have not, as yet been drill tested. In addition recent aeromagnetic surveys by the Botswana Government have identified a number of previously unknown targets with magnetic characteristics similar to known kimberlite pipes. Layfield continues to actively seek other joint venture partners for the further exploration of this exciting area. For further information visit our website at www.layfieldresources.com and then call us at 1-888-244-6644 ON BEHALF OF THE BOARD D. Neil Briggs =================================================================== Copyright (c) 1999 LAYFIELD RESOURCES INC. (LAY) All rights reserved. For more information, please visit our website at layfieldresources.com or send electronic mailto:info@layfieldresources.com Message sent on Monday, June 14, 1999 at 11:30:38 AM Pacific Time ===================================================================