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Wed 21 Jan 2004, 13:36 RENEWAL OF CAUTIONARY ANNOUNCEMENT
AFRICAN GEM RESOURCES LIMITED - RENEWAL OF CAUTIONARY ANNOUNCEMENT              
African Gem Resources Limited                                                   
(Incorporated in the Republic of South Africa)                                  
(Registration number 1998/007292/06)                                            
Share code: AFG                                                                 
ISIN: ZAE000025540                                                              
CUSIP code (Level 1 ADR programme): 008283103                                   
("AFGEM" or "the company")                                                      
RENEWAL OF CAUTIONARY ANNOUNCEMENT                                              
The company and Bonheur 19 General Trading (Proprietary) Limited, to be renamed 
Tanzanite One (South Africa) (Proprietary) Limited are finalizing the terms of  
the proposed transaction detailed in the company"s 5 December 2003 announcement,
which, if successfully concluded, may have a material effect on the price of the
company"s securities.                                                           
Accordingly, shareholders are advised to continue exercising caution when       
dealing in the company"s securities.                                            
21 January 2004                                                                 
Sponsor                                                                         
Java Capital                                                                    
Date: 21/01/2004 01:06:02 PM Supplied by www.sharenet.co.za                     
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