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Caledon Resources (CDN)

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Tuesday 29 June, 2004

Caledon Resources

Holdings in Company

Caledon Resources PLC
29 June 2004


               Caledon Resources plc ("Caledon" or "the Company")

The Company announces that Watson Island Development Corporation, today sold
6,750,000 ordinary shares in the capital  of the Company, taking its holding to
nil. The shares were sold at a price of 5.25 pence.


Watson Island Development Corporation is a company controlled by Sebastian
Taylor who is a member of the concert party.  The sale of the above shares
decreases the total number of shares held by the concert party to 43,569,913,
representing  20.4% of the total issued share capital of the Company.

For further information please contact:
                                        
                                Stephen R Dattels
                          sdattels@caledonresources.com
                                        
                                 George Salamis
                          gsalamis@caledonresources.com
                                        
                        Donal Douglas, Investor Relations
                          ddouglas@caledonresources.com
                                        
                              Caledon Resources Plc
                  18 Upper Brook Street. London W1K 7PU England
          Telephone +44 (0) 20 7318 5780 Facsimile +44 (0) 20 7318 5781




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