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Wed 7 May 2003, 16:27 Cautionary Announcement
Diamond Core Resources Limited -                     
Diamond Core Resources Limited                                                  
(FORMERLY MAZAL MINING AND EXPLORATION LIMITED)                                 
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/013468/06)                                            
Share code: DMR      ISIN Number: ZAE000045688                                  
("Diamond Core" or "the company")                                               
CAUTIONARY ANNOUNCEMENT                                                         
Diamond Core has entered into negotiations regarding the acquisition of         
additional prospective diamond properties.  Although the Company is currently   
suspended, shareholders are advised that these negotiations may have a material 
effect on the price at which trading in the Company"s shares may be resumed once
the suspension is lifted.  Shareholders should therefore exercise caution when  
dealing in the Company"s shares until a further announcement is made.           
The company is currently finalising the Annual Financial Statements for the year
ended 30 June 2002 ("the 2002 AFS") and the interim results for the six months  
ended 31 December 2002 ("the 2003 interim results"). Once these have been       
distributed to shareholders as per the JSE Securities Exchange South Africa     
("JSE") Listings Requirements, the company will apply to the JSE to lift the    
suspension of trading in Diamond Core"s shares. It is expected that the 2003    
interim results will be announced, and the annual report incorporating the 2002 
AFS together with the 2003 interim results will be posted to shareholders on or 
about 6 June 2003.                                                              
Johannesburg                                                                    
7 May 2003                                                                      
SPONSOR                                                                         
SASFIN BANK LIMITED                                                             

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