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Gold/Mining/Energy : Inmet Mining.$$$$$$$$$$$ -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (33)	3/20/2002 6:39:11 PM
From: Stephen O	Read Replies (1) \| Respond to of 42

High grade massive sulphide drill intercepts at TeutonicBore 3/21/02 PILBARA MINES LIMITED 2002-03-21 ASX-SIGNAL-G HOMEX - Perth +++++++++++++++++++++++++ Pilbara Mines Limited (Pilbara) is pleased to announce new high-grade diamond drilling intercepts associated with the discovery of significant copper-zinc massive sulphide mineralisation at Teutonic Bore "discovery hole" TBD 0202 (7.7 metres @ 4.28% copper, 16.05% zinc, 173 g/t silver), announced 26 February2002. A total of 3 holes have been drilled since Pilbara's February 26 release (TBD 0203, TBD 0204 and TBD 0205). Two holes (TBD 0204 and TBD 0205) were drilled on the Jaguar massive sulphide zone north and south along strike on 100 metre step-outs from TBD 0202 within a single surface transient electromagnetic anomaly of approximately 1800 meters of strike length. Diamond drill hole TBD 0205, drilled 100 metres to the north of discovery hole TBD 0202, collared at -65 degrees on section 5600ON (AMG 6851997N, 319317E), intersected 6.2 metres of massive sulphides in 2 zones from 465.15 metres to 467.90 metres grading 2.7% copper, 17% zinc and 123g/t silver and from 479.55 metres to 483.00 metres grading 5.6% copper, 10% zinc 118g/t silver. A significant zone of stringer mineralisation immediately below the massive sulphide zone confirms the Jaguar deposit, as being a VMS system that host's a package of mafic and hydrothermally altered felsic volcanics similar to that of Normandy's Golden Grove copper/zinc operation. The current base metal resources at Golden Grove are the equivalent of 9 million ounces of gold or $5.6 Bil (Normandy Annual Report 2001). The detailed assays for TBD 0205 are summarized in the following table: FROM TO INT Cu Zn Pb Ag Au (m) (m) (m) % % % g/t g/t 465.15 465.95 0.80 0.9 14.6 0.4 60 0.07 465.95 466.95 1.00 1.7 21.5 0.2 86 0.10 466.95 467.90 0.95 5.3 14.4 0.5 215 0.10 479.55 480.35 0.80 12.2 8.2 0.6 250 0.11 480.35 481.35 1.00 3.3 10.3 1.3 86 0.14 481.35 482.20 0.85 1.8 16.7 1.6 53 0.11 482.20 483.00 0.80 6.0 7.1 1.3 96 0.13 The intervals quoted are core length since true thickness cannot be estimated with any degree of certainty at this time. These new intercepts along with the significant stringer zone feeding the massive sulphide system confirm a major new base metal mineral discovery in Western Australia. With this confirmation comes a new discovery name being the Jaguar Deposit. All future massive sulphide zones will be named after other big cats. Hole TBD 0204, drilled 100 metres to the south, collared at -65 degrees on section 55800N, intersected from 448.7m to 452.15m, 3.45m (core length) of brecciated chert with stringer and semi-massive iron sulphides with anomalous base/precious metal grades. Hole TBD 0203 was drilled 10km south of TBD 0202 on an EM target. No mineralization was intersected and the anomaly remains unexplained pending further down-hole surveys. Drilling continues with two diamond drill rigs to further delineate on 100 metre centres up and down dip and along strike within the 1800 metre electromagnetic anomaly. Pilbara holds a 100% interest in the JV whilst Inmet Mining (Australia) Pty Ltd, is earning a 70% interest and is the manager of the joint venture. J M Davis Tel: +61 8 9322 9999 MANAGING DIRECTOR email: info@pilbaramines.com.au Pilbara Mines Ltd Web: www.pilbaramines.com.au