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

To: Gord Bolton who wrote (2305)	12/24/1998 9:40:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 7235

SouthernEra Resources Limited Commencement of Bulk Sampling of Gravels Overlying the M3 Kimberlite on the Farm Marsfontein, South Africa TORONTO, Dec. 24 /CNW/ - SouthernEra Resources Limited (SUF-TSE) is pleased to announce that bulk sampling of the gravels overlying the M3 kimberlite has commenced on the farm Marsfontein in the Northern Province of South Africa. Mining at Marsfontein is undertaken through a joint venture with De Beers Consolidated Mines Ltd. (60% De Beers, 40% SouthernEra). The M3 kimberlite was discovered during previous exploration work and initial drilling delineated an elongated kimberlite body with a strike length of 100 metres and a true width of up to 10 metres. The kimberlite is overlain by 3 metres of sand and grit and 6 metres of gravel. A sample trench was excavated across the kimberlite, perpendicular to the strike, and a 154 tonne bulk sample of the top 2 metres of the gravel horizon was treated in SouthernEra's 100 tph plant. 211.5 carats were recovered, including one special stone weighing 13 carats, from this sample yielding a grade of 137 carats per hundred tonnes (cpht). Further testing of the remaining 4 metres of gravels will be completed early in 1999, and a bulk sample of the M3 kimberlite itself will also be treated. The gravel horizon appears to continue to the south of the M3 kimberlite and its extent will be delineated early in the new year. The Marsfontein joint venture is continuing active exploration on the farm Marsfontein, in order to locate and define all viable resources. It would appear that the gravels overlying M3 constitute an increase in the overall Marsfontein reserve base. %SEDAR: 00004535E -30- For further information: Christopher M.H. Jennings, President; A. Lee Barker, Senior Vice-President; Kim Freeman, Vice-President, Operations; Frank van de Water, Vice-President, Finance; Nicholas Sayce, Investor Relations, Phone: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox@southernera.com, southernera.com Merry Chrismas and Happy New Year