RNS Number:9385M
Reefton Mining N.L.
30 June 2003


                REEFTON MINING N.L. ("Reefton" or the "Company")

                           Placing to Raise A$550,000

Reefton has today filed a Prospectus in Australia (as required under the rules
of the Australian Securities and Investments Commission and the Australian Stock
Exchange) for the purposes of an offer by way of placement of up to a maximum of
10,000,000 fully paid ordinary shares in the capital of the Company at an issue
price of 4.5 cents each ("Placement Shares") to raise up to A$450,000 and for
the purposes of an offer by way of placement of up to a maximum of 10,000,000
partly paid ordinary voting shares ("Contributing Shares") in the capital of the
Company to be issued at 7 cents each and paid to 1 cent each to raise up to
A$100,000,

The issue of Placement Shares and Contributing Shares pursuant to the offer of
Placement Shares and Contributing Shares will raise up to A$550,000 in working
capital for the Company. The funds raised will be used to fund the ongoing
exploration and evaluation programmes of the Company's resource projects, to 
fund the evaluation of potential new acquisitions, to provide funds for the 
corporate and administration activities of the Company, to provide working 
capital and to meet the costs of the issue.

Application will be made to ASX for permission for the Placement Shares and
Contributing Shares to be listed for official quotation by ASX. Application will
also be made to the London Stock Exchange plc for the Placement Shares to be 
admitted to trading on AIM. Dealings are expected to commence on 16 July 2003. 
All of the Placement Shares and Contributing Shares will rank equally with the 
existing Shares and Contributing Shares on issue.


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

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