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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Fairchild who wrote (2179)	11/9/1998 1:53:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 7235

SouthernEra Resources Limited Monday, November 09, 1998 Back Lake Project Update KALAHARI RESOURCES INC. ("KLA-V;KALRF-L") SOUTHERNERA RESOURCES LTD ("SUF-T") - Back Lake Project Update Albert W. Applegath, President of Kalahari Resources Inc. announces: Manager of exploration of the Back Lake Project for SouthernEra Resources, geologist Howard Bird, gave the following progress report last week: 1. Cdn$5,000,000 spent thus far at Back Lake. Cdn$5,000,000 spent thus far at Mackay Lake. 2. Work completed to date: (a) 5,000 miles of airborne geophysics. (b) 600 miles of ground geophysics. (c) 3,500 till samples taken and processed. (d) 11,000 feet of core drilling completed. 3. The camp at Back Lake was expanded this summer and winterized. There are seventeen (17) buildings and will hold 20-30 workers. 4. The Lupin Winter Road is being extended by DeBeers-Monopros to facilitate bulk sampling at the Mountain Province project (adjoining south of the Back Lake boundary). This road will pass within a 1/2-1/2 mile of the Back Lake camp and will lower supply costs dramatically. 5. The 40% G-10 garnet content of the Yuryi indicator mineral train is considered to be one of the highest G-10 counts in the N.W.T. 6. There is a lake bottom depression 1,000 feet offshore from the Yuryi boulder filed (a 1,200 lb. bulk sample returned 226 diamonds here) and this will be priority drill tested. 7. A new sonic drill program will fence drill the area opposite the Yuryi indicator mineral train and the boulder field at Munn Lake. This drill will core into a ten (10) foot sample of lake bottom bedrock at 300 foot centres. 8. Fifteen (15) holes could be completed in a twelve (12) hour shift and these holes will be processed within forty-eight (48) hours at the camp. 9. This sonic drilling at Munn Lake will quickly establish target areas for conventional diamond drilling. 10. The new program will begin mid January to mid february 1999 and this early start will see a concentrated effort for approximately four (4) months. 11. The SouthernEra crew are trying to define the source area of the Yuryi in early 1999. 12. There are three (3) other indicator mineral trains between munn and Margaret Lake. 13. Three hundred and thirty six (336) till samples are currently being processed to better define the up-ice source of these indicator mineral trains. 14. There are over twenty (20) geophysical lake anomalies not yet drill tested from the program this spring. Early 1999 will see the most aggressive program yet mounted by SouthernEra at Back Lake. This could be the year for the pipe source of the indicator minerals and diamonds to be found. I deeply appreciate Howard Bird's professional remarks, SouthernEra's efforts and the Island Arc presentation last Thursday. CENTRAL MEXICO- FAJA DE PLATA (Twelve (12) Blocks - 3,300,000 acres) Kalahari has joint ventured Geomex-6 (220,000 acres) to Western copper Holdings and Geomex-4 (1,500,000 acres) to Goldwater Resources. Kalahari continues to negotiate on the remaining ten (10) blocks for additional partners. In the meantime, field work, under the directions of geologist Kevin McAndrews, continues to define potential drill target areas. DEBT SETTLEMENT The Vancouver Stock Exchange has accepted for filing the issuance of 814,182 Kalahari shares at a price of $0.34 per share to settle outstanding debts, totalling $276,822. The hold period on 337,288 shares is until December 1, 1998, and the hold period on the remaining 476,894 shares is until January 1, 1999. Your president advanced or was owed $166,000 Canadian and took the 476,894 share debt settlement. TEL: (604) 669-3332 Albert W. Applegath, President