Drilling Report

/R E V I S I O N  from source -- SouthernEra Resources Limited/

 

    The following release revises and replaces the press release transmitted at

    14:59 GMT on June 2. A sub-heading and paragraph have been added before the
final

    paragraph of the release. Revised copy follows:

 

    SouthernEra Reports on Koumba Gold Project First Phase Drill Results

 

    Shares Issued and Outstanding: 74,707,883

    TSX: SUF

    AIM: SRE

 

    TORONTO, June 2 /CNW/ - SouthernEra Resources Limited (TSX: SUF, AIM:

SRE) today announced gold results from drilling that tested gold-in-soil

geochemical anomalies within the main Mainou Vein gold mineralized trend on

the Koumba gold project, Gabon, where SouthernEra has a 95% interest in a 625

square kilometer gold exploration permit.

    The initial diamond core drilling program of selected gold-in-soil target

areas commenced in November 2003 with the completion of three drill holes, 

DDH-KB5, 6 and 7, located to test the 450 meter wide TRV-2-Trench-B

geochemical and gold grain count in soil anomaly that is coincident with an

airborne radiometric anomaly located within granitic rocks that are marginal

to the north northwest trending volcano-sedimentary sequence that hosts the

Mainou Vein gold mineralized trend. As reported in press release dated March

4, 2004, drill hole DDH-KB7 returned 2.11 grams per tonne gold over 4.0 meters

or 3.40 grams per tonne gold over 2.0 meters.

    Following the completion of drill hole DDH-KB7 on gold anomaly TRV-2-

Trench-B and the onset of the drier season, the drill was moved to test below

and in the vicinity of the past underground workings within the Mainou Vein

gold mineralized trend. Hole DDH-KB3 was collared approximately 140 meters

north of the Mainou Vein adit and drilled at an inclination of -45 degrees to

a core length (eoh) of 302 meters. The drill was then moved about 740 meters

to the northwest of DDH-KB3 to test a 400-meter wide geochemical and gold

grain count soil anomaly situated along strike (north northwest) of the Mainou

Vein gold trend. A fence of four drill holes, hole DDH-KB9 (dip -45 degrees,

eoh 192 meters), hole DDH-KB10 (dip 45 degrees, eoh 229 meters), hole DDH-KB11

(dip -45 degrees, eoh 190 meters), and hole DDH-KB12 (dip 45 degrees, eoh

201), tested the gold anomaly. All of the drill holes intersected intercalated

quartzite and greywacke, and greenstone sequences, including quartz veins,

with zones that are sheared and sericitized with multiple broad sections

containing trace to appreciable amounts of pyrite and pyrrhotite with minor

chalcopyrite.

    All drill hole core was sampled from top to bottom and assayed at SGS

Lakefield Research Africa (Pty) Limited in South Africa by the metallic

sieving/fire assay method. All drill hole sample assays have been returned

from the lab except for hole DDH-KB-12 where SouthernEra has received assays

for samples submitted between 4.0 and 115.50 meters inclusive and is expecting

to receive assays from 115.50 to 201 meters during the second week of June.

The highest reported drill assay to date from the Mainou Vein gold mineralized

trend is 2.52 grams per tonne gold over 2.0 meters from DDH-KB12 with further

auriferous zones tabulated below.

 

   

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

    Hole No.   Coordinates  Inclination    From      To     Interval   Au

                             (degrees)   (meters) (meters)  (meters)  (g/t)

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

    DDHKB3     686850          -45          -        -         -      No

                                                                      signi-

                                                                      ficant

                                                                      Assays

              9918985

    DDHKB9     686142          -45        36.40     38.50    2.10      0.69

              9919210

    DDHKB10    686201          -45        11.00     13.00    2.00      1.53

              9919281                    157.00    159.50    2.50      0.45

                                         208.20    210.20    2.00      0.59

    DDHKB11    686278          -45        10.00     22.00   12.00      0.46

              9919363                     82.00     84.00    2.00      0.47

                                         112.20    114.20    2.00      1.64

    DDHKB12    686361          -45        80.50     82.50    2.00      2.32

              9919436                     99.50    101.50    2.00      0.63

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

 

    The first phase drilling program gold results in comparison to soil

geochemical and gold particle count in soil samples on the Koumba gold project

has provided information that indicates that for the two gold-in-soil sample

anomalies tested to date that the upper oxide zone is supergene enriched with

a lateral dispersion of gold occurring towards the surface.

    The drill results are currently being evaluated before a decision is made

how to proceed with the Koumba exploration program. The results from the 6 by

12 kilometer geochemical soil grid defined numerous parallel north-northwest

trending gold in soil anomalies situated intermittently over an approximate 10

kilometers strike.

 

    National Instrument 43-101 disclosure

 

    Exploration activities at the Koumba gold project are being conducted

under the supervision of Uwe Naeher, registered professional geologist,

Western Exploration Manager of the company and a qualified person as defined

by National Instrument 43-101.

 

    SouthernEra Resources is an independent producer of platinum group metals

and diamonds. The company has an extensive PGM exploration program in South

Africa and Gabon. SouthernEra is engaged in diamond exploration in Canada,

Gabon, Australia, South Africa, the Democratic Republic of Congo and Botswana

and also maintains its 18 percent free-carried interest in the Camafuca

Diamond Project in Angola. The common shares are listed on the Toronto Stock

Exchange and the London Stock Exchange's AIM market.

  

   

    For further information: SouthernEra Resources Limited - Mr. Patrick

Evans, President and CEO, or Howard Bird, Vice President Exploration,

Telephone: [phone], Fax: [phone],

E-mail: inbox(at)southernera.com, www.southernera.com

    (SUF. SRE)