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Golden Prospect PLC (AMBR)

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Monday 13 May, 2002

Golden Prospect PLC

Re Joint Venture

Golden Prospect PLC
13 May 2002

                      Golden Prospect plc ('the Company')

For immediate release

Investment in Mano River Resources Inc. ('Mano') and Joint Venture Heads of
Agreement signed on Sierra Leone gold project.

The Board of the Company announces that it has arranged, subject to regulatory
approval by the TSX Venture Exchange, an investment of £244,000 in new Mano
common shares. At the same time, the two companies have concluded a Heads of
Agreement under which they will combine and jointly explore their contiguous
exploration licences in the Sonfon region of central Sierra Leone.

The investment is at a price of 4p per share and application will be made for
the 6,100,000 new shares to be admitted to trading on AIM. Following the
investment, Golden Prospect will hold a total of 6.6 million Mano shares
representing approximately 5.7% of the issued share capital of Mano.

Mano is a Canadian company, which aims to create shareholder value through the
identification, exploration and development of high quality hard-rock gold and
diamond deposits in the West African Mano River Union countries.  These
countries share an Archaean craton that is prospective for high-grade gold
deposits but is best known for its prolific diamond production, being underlain
by a system of diamond bearing kimberlite dykes and pipes.  Both the gold and
the diamond potential of this craton have remained largely unexplored.  Mano
recently announced the discovery of the first diamondiferous kimberlite pipes
known in Liberia.

Under the Heads of Agreement signed between Mano and Golden Prospect, Mano as
operator will undertake and fund the initial US$75,000 of an exploration
programme for the 50:50 Joint Venture. Gold targets within their adjoining
exploration licences, which total 256 square kilometres, will be investigated by
geochemical soil grids and trench sampling and assaying. The licences are
located in the Sonfon region of central Sierra Leone, within the Sula Mountains,
an area underlain by the pre-eminent greenstone belt in Sierra Leone. Previous
work by the partners on their respective licences included regional
geochemistry, which has identified gold occurrences related to major shear
structures in areas with extensive artisanal gold workings.

The proceeds of the Placing will be used by Mano to fund the first phase of the
joint venture programme in Sonfon, to continue the Company's exploration
programme over its range of promising hard rock gold and diamond targets
elsewhere in the Mano River Union countries, and for general working capital

13 May 2002


Golden Prospect Plc            Malcolm Dunne  07760 411960

Mano River Resources Inc.      Tom Elder      01235 810740

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

a d v e r t i s e m e n t