Drilling Report

Messina Platinum Joint Venture Completes Phase 1 Drilling Program at

the Dwaalkop Section of the Greater Messina Platinum Project

          

           21 Percent Increase in Platinum Group Metals Resource

          

           Shares Issued and Outstanding: 74,166,193

           TSX: SUF

           AIM: SRE

          

       TORONTO, Feb. 16 /CNW/ - SouthernEra Resources Limited today announced

that the Phase 1 in-fill drilling program at the Dwaalkop Section of the

Greater Messina Platinum Project has been completed to a depth of 500 meters

resulting in a 21 percent increase in the platinum group metals resource

compared to previous drilling undertaken by Anglo Platinum.

       The Dwaalkop Section of the Greater Messina is a 50:50 joint venture
with

the Johannesburg-listed black empowerment mining company Mvelaphanda Resources

Limited. Title to the Dwaalkop Section was awarded to the Messina Platinum

Joint Venture in mid-2002 and a prospecting permit was awarded in July 2003.

The in-fill drilling program, which commenced last July, was designed in

conjunction with the independent consulting firm SRK Consulting.

       The location of the Dwaalkop Section in relation to the Greater Messina

is illustrated on the attached map diagram. The Dwaalkop Section consists of

three properties: Rooibokbult 121 KS, Turfpan 122 KS and Dwaalkop 455 KS. Both

the UG2 and Merensky reefs, which are the common platinum group metals reefs

on the Bushveld Igneous Complex, are present across the 6-kilometer strike of

the Dwaalkop Section.

      

           The results of the Phase 1 program are detailed below.

      

                    -----------------------------------------------------------

                    Measured and Indicated        Inferred

                    -----------------------------------------------------------

                    Tonnes    Grade      Ounces   Tonnes   Grade        Ounces

                   (000's)   5PGE + Au  (000's)  (000's)  5PGE + Au    (000's)

                             (g/t)                        (g/t)

         ----------------------------------------------------------------------

          Merensky   12,810    4.59       1.890    2,55     6.10         0,500

        
 ----------------------------------------------------------------------

          UG2        14,950    5.37       2,580

        
 ----------------------------------------------------------------------

          Total      27,760    5.01       4,470    2,55     6.10         0,500

        
 ----------------------------------------------------------------------

      

 The Resource mass has been estimated from the dip area measured from the

base of the weathered zone or below a proposed crown pillar where the reef

abuts against the lower contact of the overlying sedimentary Karoo succession.

The specific gravity (SG) of the mineralisation is based on a dataset of all

core intervals assayed and determined in the logging shed prior to splitting.

The average SG values were estimated using the same optimisation model used

for the grades.

           Geological losses on the Merensky reef have been taken at 15
percent,

based conservatively on the experiences to date at the Voorspoed (Phase 1)

Section where losses to potholes and faults are currently below 10 percent. No

mining losses for other pillars have been taken into account. The mass of this

Inferred Resource has been estimated from the same area as the Merensky and

discounted by the same amount for geological losses and, in addition, the

assumption that only 40 percent of this will contain mineralised footwall

pegmatoid.

    The UG2 Indicated Resource has also been classified over a 1.4-meter wide

zone through an interval of 110 centimeters above the base of the UG2

chromitite and 30 centimeters below. The UG2 reef Resource, like the Merensky,

has a footwall pegmatoid and for at least 30 centimeters below the base of the

chromitite it appears to be reasonably continuous and has therefore been

incorporated into the resource estimate.

    The UG2 Resource to 500 meters comprises 14.95 million tonnes at a grade

of 5.37 grams per tonne (5PGE+Au), which represents 2.58 million ounces

(5PGE+Au). The Pt: Pd ratio of the resource is 0.80. The previously stated

Inferred Resource to 500 meters was 14.65 million tonnes at a grade of 6.74

grams per tonne (5PGE+Au), representing 3.17 million ounces (5PGE+Au). The

current resource is 0.58 million ounces, or approximately 18 percent lower

than that previously stated.

    The resource mass has been estimated in the same manner as Merensky reef

and using the same area. The average SG values were based on measurements of

all cores assayed and averaged using the same method used to average the

grades. Average values differ for every width interval depending upon the

amount of included pyroxenite waste.

    Geological losses on the UG2 reef have been taken at 10 percent based

conservatively on the experience at the Voorspoed (Phase 1) Section where

losses to potholes and faults are currently less than 5 percent. Again no

mining losses for other pillars have been taken into account.

      

           The detailed results are indicated in the table below:

      

                    ---------------------------------------------------------

                    Merensky Reef      Merensky Reef           UG2 Reef

                      Indicated          Pegmatoid             Indicated

                      Resource       Inferred Resource         Resource

    -------------------------------------------------------------------------

    Metal          Width of Reef       Width of Reef         Width of Reef

                   Interval 1.40m      Interval 0.70m        Interval 1.40m

    -------------------------------------------------------------------------

    Pt     g/t          2.46                2.89                  1.92

    -------------------------------------------------------------------------

    Pd     g/t          1.35                2.32                  2.40

    -------------------------------------------------------------------------

    Rh     g/t          0.08                0.15                  0.17

    -------------------------------------------------------------------------

    Au     g/t          0.38                0.31                  0.15

    -------------------------------------------------------------------------

    Ru     g/t          0.27                0.36                  0.59

    -------------------------------------------------------------------------

    Ir     g/t          0.05                0.06                  0.14

    -------------------------------------------------------------------------

    4E     g/t          4.27                5.68                  4.64

    -------------------------------------------------------------------------

      

    The in-fill drilling program to 500 meters consisted of 6 holes and 18

intersections through the Merensky reef and 6 holes and 16 intersections

through the UG2 reef. This is in addition to the previous drilling undertaken

by Anglo Platinum, which consisted of 33 drill intersections through the

Merensky reef and 24 drill intersections through the UG2 reef to a maximum

depth of 778 meters.

    Both the Merensky and UG2 reefs outcrop at surface across the 6-kilometer

strike of the Dwaalkop Section. The degree of weathering (oxidation) varies

across the strike length. Depending on the outcome of geotechnical modeling

that will be conducted as part of the feasibility study currently underway, it

is anticipated that a crown pillar of approximately 30 meters will be

utilised.

    The estimation of the Dwaalkop Section resource grade is based on that

used for the Great Dyke platinum deposits. The principle is the same as the

Histogram Method developed by Anglo Platinum in the early 1970's and still

used by them today. This methodology assigns a global grade and width and

because it assumes continuity of reef quality over the entire evaluation area,

features such as potholes or faults are discounted from the resource mass

without affecting the grade.

    The accepted assay values and sample intervals for all metals were

captured and each sample interval has been corrected to its true thickness and

standardised to equal intervals. The intersections were stratigraphically

aligned relative to the base of the Marker Horizon for all metals and an

arithmetic mean calculated for each 10-centimeter increment. In order to

optimise the position and width of the highest value mining slice or best-cut

position, metal prices and plant recovery factors are applied to each of the

10-centimeter standard interval grades for all metals and these are summed to

give a total dollar per tonne value for each interval. The optimum mining

slice or best-cut position is determined by selecting the highest dollar value

for a series of mining widths and these positions. These maximum value

positions are then applied to the composite interval grades to determine the

optimum grade for each metal for a series of reef widths.

    The Merensky reef Indicated Resource has been classified over a 1.4-meter

wide zone through an interval of 40 centimeters above the M1 chromitite marker

to 100 centimeters below. This is not entirely based on the value optimisation

model, which indicates a wider pay width. The intermittent presence of a

footwall pegmatoid with relatively high values is considered to give a

geologically unrealistic average grade. For this reason the grade over a ••••

70-centimeter wide zone of the footwall pegmatoid has been estimated

separately and because of uncertainties in the continuity of this

mineralisation, has been assigned to the Inferred category. There is, from the

drill hole evidence, reasonable continuity of the Merensky reef itself and

this has been classified as an Indicated Resource.

    The Merensky Indicated Resource to 500 meters comprises 12.81 million

tonnes at a grade of 4.59 grams per tonne (5PGE+Au), which represents 1.89

million ounces (5PGE+Au). The Pt: Pd ratio of the Indicated Resource is 1.82.

The Inferred Resource comprises 2.55 million tonnes at a grade of 6.10 grams

per tonne (5PGE+Au), which represents 0.50 million ounces (5PGE+Au). The Pt:

Pd ratio of the Indicated Resource is 1.25. The previously stated Inferred

Resource to 500 meters was 8.45 million tonnes at a grade of 3.49 grams per

tonne (5PGE+Au), representing 0.95 million ounces (5PGE+Au). The current

Merensky resource is 1.44 million ounces or 151 percent higher than that

previously stated.

      

           ------------------------------------------------------

                6E           g/t       4.59        6.1       5.37

           ------------------------------------------------------

                Ni            %        0.23       0.19       0.16

           ------------------------------------------------------

                Cu            %        0.14       0.11       0.12

           ------------------------------------------------------

                SG                     3.18       3.16       3.50

           ------------------------------------------------------

               Mass          Mt       15.07        7.5      16.61

           ------------------------------------------------------

            Geological       Mt        2.26       1.12       1.66

              Losses

           ------------------------------------------------------

           Resource Mass     Mt       12.81       2.55      14.95

           ------------------------------------------------------

            6E Content       Moz       1.89       0.50       2.58

           ------------------------------------------------------

      

    SRK Consulting was appointed as independent consultants to review the

database and estimate the Resource in terms of the SAMREC Code and Canadian

National Instrument 43-101 Standards of Disclosure for Mineral Projects.

    Dr Anthony Martin, the competent person who has completed the review has

been involved with the estimation of Resources and Reserves of magmatic

platinum group element deposits since 1992 and has 12 years of experience in

evaluation of deposits of this type.

    Phase 2 of the in-fill drilling program on the Dwaalkop Section of the

Greater Messina Platinum Project is continuing on both the Merensky and UG2

reefs, to depths of 1,000 meters and 1,200 meters, respectively. Completion is

expected during the next quarter.

    SouthernEra Resources is an independent producer of platinum group metals

(PGM) and diamonds. The company also has an extensive PGM, gold and diamond

exploration program. The common shares are listed on the Toronto Stock

Exchange and the London Stock Exchange's AIM market.

      

           To view map of the development please visit:

           http://files.newswire.ca/248/phase2.doc

          

 

       For further information: SouthernEra Resources Limited: Dr. Sally Eyre,

Vice President, Corporate Affairs, Telephone: [phone], Fax:

[phone], E-mail: [e-mail], www.southernera.com

           (SUF. SRE)