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Wed 5 May 2004, 13:55 Further Cautionary Announcement
Sub Nigel Gold Mining Company Limited - Further Cautionary Announcement         
  SUB NIGEL GOLD MINING COMPANY LIMITED (Incorporated in the Republic of South    
  Africa) (Registration number 1984/006179/06)                                    
  Share code: SBN  ISIN:  ZAE 000006391                                           
  ("Sub Nigel" or "the company")                                                  
  FURTHER CAUTIONARY ANNOUNCEMENT                                                 
  Shareholders are referred to the cautionary announcement dated 8 April 2004 and 
  are advised that the scoping studies on its Ventersburg and Spaarwater projects 
  referred to therein have not yet been completed.                                
  In addition shareholders are advised that the company has entered into          
  negotiations which may have an effect on the price at which its securites trade 
  on the JSE Securities Exchange South Africa.                                    
  Shareholders are therefore advised to continue to exercise caution when dealing 
  in their Sub Nigel shares until a further announcement is made.                 
  Johannesburg                                                                    
  4 May 2004                                                                      
  Sponsor                                                                         
  Sasfin Corporate Finance                                                        
  A division of Sasfin Bank Limited                                               
  Date: 05/05/2004 01:30:04 PM Produced by the JSE SENS Department                
                                                                                  
                                                                                  
                                                                                  
  
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