BLO Bullion Res

RNS Number:5661E
Bullion Resources PLC
02 December 2002

For immediate release

2 December 2002

Bullion Resources plc ("Bullion Resources" or "The Company")

The Company wishes to clarify its position as regards an article published on 20
November 2002 on the Mineweb website (www.miningweb.co.za) which, inter alia,
alleges that shareholders had been provided with misleading information
contained within the Competent Persons Report ("CPR"), which was published in
the Company's prospectus dated 5 June 2002 and that a complaint has been lodged
with the Geological Society of South Africa ("GSSA").  The Company is unaware of
the basis for the complaint and is therefore unable to comment on it.

The Company has contacted Dr Deon Vermaakt, an accredited South African Mineral
Resource Committee ("SAMREC") geologist, who was responsible for the CPR.  Dr
Vermaakt confirms he has not been notified by the GSSA, SAMREC or the South
African Council for Natural Scientific Professions ("SACNASP") that any
complaint has been lodged.  Furthermore, he reconfirms the contents of his
report and intends to defend its contents should such alleged complaint be
formally brought to his attention.

The article also states that "Drylands and Machavie have been in several hands
before, but have never been developed".  This is inaccurate.  Drylands was mined
and produced gold as recently as 1992 under Anglogold and Sterling Rand produced
gold in the mid-1980's at New Machavie.

On 30 October 2002, Bullion Resources made an announcement containing the
following statement:

"The Directors of Bullion Resources are pleased to announce that Drylands, the
most advanced of the Company's projects is expected to produce its first gold in
December 2002.  This event was delayed by a design fault leading to a
misalignment of the mill.  Commissioning of the plant will commence next week
and will be completed in November 2002.

Because of the low cost of the Drylands operations and plant, the free
availability of resources and in order to negate the delayed start up of the
mill, the Board has decided to install a second mill at this site.  The mill is
one of the five spare mills that were recently acquired.  The foundation
excavations will commence next week and the installation of the mill should be
complete by the end of December 2002.  Commissioning is expected to commence by
early January 2003 and completion before the end of that month.  Full production
at Drylands is expected to be achieved by June 2003."

The Directors confirm that this statement remains valid.

For further information contact:


Johnny van den Berg - Director - +27 72 424 0667
Justine Howarth - Parkgreen Communications - 020 7287 5544


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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