EERSTELING GOLD MINING COMPANY LIMITED
(Registration number 1987/001814/06)
("Eersteling" or "the Company")
ANNOUNCEMENT AND CAUTIONARY
Shareholders are advised, that Caledonia Mining Corporation of Toronto
("Caledonia") has given notice to Spring Hills Trading Limited ("Spring Hills")
that Spring Hills is in breach of the agreements with Caledonia dated December
22, 2000. If the breach is not remedied by March 30, 2001, Caledonia may cancel
the agreements.
The agreements provided for Spring Hills to purchase 49% of Caledonia's
interest in Eersteling. None of the monthly payments have been paid to
Caledonia and other breaches have occurred.
Caledonia is in the process of investigating other options of exploiting
Eersteling's resources. These include the possibility of entering into a
contract directly with a mining contractor, so that production can be started
at Eersteling for the account of the Company.
Shareholders are therefore advised to exercise caution in dealing with their
Eersteling shares until a further announcement is made in this regard.
Johannesburg
27 March 2001
Sponsor
SASFIN BANK LIMITED
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