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Arcon Int.Resources (AIN)

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Thursday 29 May, 2003

Arcon Int.Resources

Increased resource at Galmoy

Arcon International Resources PLC
29 May 2003



                           ARCON International Resources Plc

                              Increased resource at Galmoy

        R Zone resource contains 430,000 tonnes of zinc, 160,000 tonnes of lead
                             & 4.8 million ounces of silver



        DUBLIN & LONDON: 29th May 2003 - ARCON International Resources Plc
        announces that it has increased the size of the recently discovered
        resource at its Galmoy zinc mine in Ireland. Drilling in the R Zone has
        continued, to establish the northern resource limit and commence infill
        drilling in the high grade core. The Resource, at a 4.5% Zn cut off, is
        now estimated to be:

        2.3 million tonnes @ 19.0% zinc (Zn), 7.2% lead (Pb) & 66g/t silver (Ag)

        This estimation uses all holes up to and including drill hole #160.



      + •The average resource thickness of 8.7 metres compares with the
        average width of 5.6 metres of the adjacent CW orebody.

      + •The average resource zinc grade of 19.0% is compares with the average
        grade on the CW ore body of 12.8% Zn.

      + •The average resource grades of 7.2% Pb and 66g/t Ag are significantly
        higher than has previously been identified on the Galmoy mine site.

        The high grade of the R Zone will be blended with ore from the current
        reserves of the mine so as to increase the overall grade of ore feeding
        the concentrator, with a consequent increase in concentrate production
        and lowering of overall unit cash costs. Mining of an access drive has
        commenced from current workings in the CW orebody to the R zone to gain
        early access to the higher grade ore. This is expected to be completed
        by the end of the third quarter 2003.

        ARCON's Chief Executive, Kevin Ross, said today: 'The drilling during
        the past six months has largely defined the resource and the recent
        infill drilling in the high grade core confirms the exceptional nature
        of this new resource. Adding this resource to Galmoy's current reserve
        doubles the mine's contained metal content and will extend the mine's
        life into the next decade.'

        'The mining of a 550m drive from the existing CW infrastructure started
        on the 1st March and is scheduled to reach the R Zone by the third
        quarter 2003. A planning application was submitted on 22nd May to
        Kilkenny County Council to mine the R Zone and application for a Mine
        Licence has been made with the Department of Communications, Minerals
        and Natural Resources.

        'Concentrate production will be maximised by blending a portion of ore
        from the R Zone with that from the remaining reserves. The early access
        to the R Zone will reduce our cash production costs and put us in a very
        strong position with the next expected upturn in the zinc price cycle'
        he said.

        'Infill drilling will continue within the R Zone and drilling of other
        similar anomalies to that of the R Zone identified to the east of this
        area will commence during the third quarter 2003,' Kevin Ross added.

        Technical note

        The set of drill intersections and assays used in the resource
        estimation is shown on the following page.

ENDS        28TH MAY 2003

For further information

Pauline McAlester  
Murray Consultants 
+353 (1) 498 0300 

Keith Irons   
Bankside Consultants Ltd  
+44 (207) 444 4155 

Kevin Ross
ARCON
+353 (56) 37100

    Editors note

    Andy Bowden P.Geo., B.Sc., M.Sc., Chief Exploration Geologist for ARCON
    Exploration Plc and with 30 years experience is the 'Competent Person'
    managing this project. Assays have been carried out in the company's
    laboratory with a proportion of samples being sent for check assay at the
    independent OMAC laboratory, Loughrea, Co Galway.

    The drill intersections and assays used in the February 2003 resource
    estimation are tabulated below:



 Hole     From       To      Mineral     Zn      Pb     Ag     Cu     Density      Comment
 No       ------    ------   --------   -----   -----   -----  -----   ------    --------------
-------
           (m)       (m)     Intercept     %       %    g/t      %     t/m3
          ------    ------     (m)       -----   -----  -----  -----   ------
                             --------
                                                                         ------  --------------
   99      126.1    136.8       10.7    19.5     3.7     28    0.1       3.55    Discovery
-------     ------   ------   --------   -----   -----  -----  -----     ------  Hole
                                                                                 --------------

  100      129.2    133.2        4.0     3.9     0.2      1    0.0       2.72    50m N of #99
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  101      122.2    143.0       20.8    23.4     7.5     72    0.1       4.01    50m S of #99
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  102      131.6    143.6       12.0    25.1     5.3     11    0.0       3.88    25m W of #99
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  103      132.4    142.8       10.4    27.4     7.9     79    0.0       4.15    25m S of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  101
                                                                                 --------------

  104      136.6    151.0       14.4    32.3    12.8    161    0.5       4.34    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  103
                                                                                 --------------

  105      135.3    149.7       14.5    19.2     3.0     17    0.0       3.58    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  102
                                                                                 --------------

  106    Faulted                                                                 25m S of #
-------  ------      ------   --------   -----   -----  -----  -----     ------  104
                                                                                 --------------

  107      139.6    148.7        9.1    34.3    12.9    115    0.8       4.08    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  105
                                                                                 --------------

  108      140.2    147.7        7.5    24.0    26.8    414    1.8       4.61    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  104
                                                                                 --------------

  109      134.7    145.1       10.4    22.1     5.5     30    0.4       3.55    25m W 0f #
-------     ------   ------   --------   -----   -----  -----  -----     ------  108
                                                                                 --------------

  110      140.1    152.1       12.0    24.0    17.5    202    1.1       4.14    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  107
                                                                                 --------------

  111    Faulted                                                                 25m W of #
-------  ------      ------   --------   -----   -----  -----  -----     ------  109
                                                                                 --------------

  112      147.3    159.4       12.1    18.9    17.5    309    1.4       3.77    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  110
                                                                                 --------------

  113    Faulted                                                                 25m S of #
-------  ------      ------   --------   -----   -----  -----  -----     ------  109
                                                                                 --------------

  114      129.3    147.2       17.9    33.9     4.0     10    0.0       4.23    25mN of #109
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  115      151.2    158.1        6.9    13.8    10.9    229    2.9       3.48    25mW of #112
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  116      130.0    161.3       31.3    31.8     9.4     73    0.7       4.27    25mN of #111
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  117      139.4    143.0        3.6     7.2     4.4     45    0.2       3.34    50mW of #116
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  118      141.8    156.4       14.6    28.8    22.6    152    0.1       4.24    50mN of #110
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  119      118.7    125.6        6.9    30.2    10.6     16    0.0       4.13    50mEof #99
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  120      137.4    154.5       17.1    25.3     3.7     12    0.0       3.59    50mEof #118
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  121      107.9    113.1        5.2    11.9     6.2     44    0.0       3.28    50mE of #119
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  122    Faulted                                                                 50mS of #121
-------  ------      ------   --------   -----   -----  -----  -----     ------  --------------

  123      142.6    153.4       10.8     8.6     2.4     11    0.0       2.98    50mN of #120
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  124      111.4    132.1       20.7    19.2    10.7    129    0.7       3.97    50mW of #122
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  125    Faulted                                                                 50mSof #124
-------  ------      ------   --------   -----   -----  -----  -----     ------  --------------

  126      142.3    150.4        8.0    15.3     8.2     67    0.0       3.40    50mW of #123
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  127    Faulted                                                                 50mW of #125
-------  ------      ------   --------   -----   -----  -----  -----     ------  --------------

  128      139.0    145.0        6.0     6.0     0.5      4    0.0       2.84    50mN of #123
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  129    Faulted                                                                 50mS of #127
-------  ------      ------   --------   -----   -----  -----  -----     ------  --------------

  130      149.0    150.9        1.9     4.3     0.3      3    0.0       2.87    50mW of #115
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  131      115.4    118.6        3.6     3.1     0.3      2    0.0       2.95    50mE of #100
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  132      110.9    114.8        3.9     7.9     0.5      4    0.0       3.14    50mE of #131
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  133      149.2    153.1        3.8     8.1     6.2     48    0.0       3.25    50mN of #115
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  134      134.8    138.8        4.0    10.7     1.0      3    0.0       3.01    50mN of #100
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  135      138.8    142.9        4.1     6.5     3.0     20    0.0       3.07    50mN of #133
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  136    Barren                            0                                     50m N of #
-------  ------      ------   --------   -----   -----  -----  -----     ------  134
                                                                                 --------------

  137       66.3     67.3        1.0     7.3     0.5      1    0.0       3.21    50mE of #121
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  138      141.8    146.0        4.2     6.9     6.7     56    0.0       3.13    50mW of #133
-------     ------   ------   --------   -----   -----  -----  -----     ------  --------------

  139    Barren                            0                                     50m S of #
-------  ------      ------   --------   -----   -----  -----  -----     ------  137
                                                                                 --------------

  140      130.7    131.6        0.9     6.6     1.3     12    0.0       2.85    50m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  138
                                                                                 --------------

  141       93.3     97.4        4.1     4.8     0.0      4    0.0       2.94    50m E of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  132
                                                                                 --------------

  142      112.9    119.5        6.6    12.6     0.5      1    0.0       3.12    @67(o)W to 50m N
-------     ------   ------   --------   -----   -----  -----  -----     ------  of #132
                                                                                 --------------

  143      137.7    148.0       10.3     8.3     1.1     15    0.0       2.97    50m N of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  138
                                                                                 --------------

  144       85.5     86.7        1.2     7.7     0.5      3    0.0       3.32    50m N of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  141
                                                                                 --------------

  145      129.7    149.1       19.4    25.2    11.0    111    0.3       3.96    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  101
                                                                                 --------------

  146      100.5    105.1        4.6     6.0     0.5      3    0.0       3.14    @70(o)W to 50m N
-------     ------   ------   --------   -----   -----  -----  -----     ------  of #142

  147    Barren                                                                  50m N of #
-------  ------      ------   --------   -----   -----  -----  -----     ------  144

  148      113.8    120.6        6.9    14.6     9.0     50    0.0       3.51    50m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  143

  149      123.4    132.5        9.0    20.6     2.1      2    0.0       3.24    50m E of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  134

  150      103.9    108.9        5.0    13.6    10.0     45    0.0       3.39    50m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  148

  151      145.0    148.8        3.8    11.0     1.6      2    0.0       3.20    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  116

  152      142.8    153.4       10.6      27    14.0     77    0.0       3.88    25m N of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  110

  153      139.2    162.4       23.2    21.2    12.4    185    1.7       3.88    25m N of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  116

  154      137.4    141.2        3.9     9.1     1.8      2    0.0       2.90    50m N of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  126

  155      156.4    165.0        8.5     6.0     3.1     98    1.2       2.98    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  115

  156      131.5    134.9        3.3     7.7     1.1      6    0.0       2.97    50m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  154

  157      148.0    156.1        8.0    15.3     7.9     92    0.2       3.42    25m N of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  115

  158      152.6    160.7        8.1    16.3    13.0    368    2.9       3.59    25mN of #117
-------     ------   ------   --------   -----   -----  -----  -----     ------

  160      151.9    156.3        4.5    10.3     3.2     42    0.2       3.09    25m W of #
-------     ------   ------   --------   -----   -----  -----  -----     ------  158



NB #159 was drilled for geotechnical information for the access decline.








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