RNS Number:1634R
Reefton Mining N.L.
22 October 2003


                              REEFTON MINING N.L.

                    ALLOTMENT AND ISSUE OF PLACEMENT SHARES


The Directors are pleased to advise that a placement of fully paid ordinary
shares ("Shares") pursuant to a prospectus dated 2 October 2003 has closed
oversubscribed.

Applications for a total of 11,925,000 Shares pursuant to the prospectus have
been received and accepted by the Company, and accordingly the Directors have
today proceeded to allot and issue the securities. The placement has raised
$596,250 before deducting the costs of the issue.

Application has been made to the London Stock Exchange for the 11,925,000 Shares
to be admitted to trading on AIM and dealings are expected to commence on AIM
tomorrow, 23 October 2003.










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