SUB-SAHARA RESOURCES NL by hjkuiw354

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									                                                                          SUB-SAHARA RESOURCES NL

                                                   ASX ANNOUNCEMENT

     SUB-SAHARA AND RESOLUTE FORM TWO JOINT VENTURES IN TANZANIA



Sub-Sahara Resources NL (“Sub-Sahara”) and Resolute Mining Limited (“Resolute”)
are pleased to announce that, subject to completion of documentation and due
diligence, the groups shall form two joint ventures covering two tenement parcels in the
highly prospective Lake Victoria Greenstone Belt in Tanzania (see attached diagram).

Resolute will have the option to earn up to 70% of Sub -Sahara’s interest in :

1.      the Mwagi Magi North, Mwagi Magi South, Kanegele East and Mkweni licenses
        which will form the “Nyakufuru Joint Venture”, and

2.      Five (5) granted licenses and two application areas, which will form the “Kahama
        Joint Venture”.

These joint ventures advance Resolute’s goal of increasing its activities in the African
countries it operates in and enables Sub -Sahara to substantially increase near term
exploration activity in Tanzania at no cost to its shareholders.

The Nyakufuru JV consolidates the interests of Resolute and Spinifex around
Nyakufuru and enhances the opportunity to develop a stand alone operation in this
area.

The Kahama JV tenure covers a portion of the western extension of the Golden Pride
shear zone. The proximity of these leases to the Golden Pride Operation allows even
modest sized discoveries to be economically viable.

Sub-Sahara or wholly owned subsidiaries own 100% of all licences except for the
Mkweni licence in the Nyakufuru Joint Venture. Sub-Sahara are earning an 80%
interest in this tenement.




                                                      RESOLUTE MINING LIMITED
                                                             ABN 39 097 088 689
     4th Floor, BGC Centre, 28 The Esplanade, Perth, Western Australia 6000. P.O. Box 7232 Cloisters Square, Perth, Western Australia 6850
                         Telephone : (08) 9261 6100 Facsimile : (08) 9322 7541 Email : contact@resolute-ltd.com.au

                                                  SUB-SAHARA RESOURCES NL
         100 Stirling Street, Perth, Western Australia 6000 P.O. Box 8260, Perth Business Centre, Western Australia 6849
                                      Telephone : (08) 9228 1266 Facsimile : (08) 9228 4365
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Nyakufuru Joint Venture

The Nyakufuru Joint Venture covers 4 license areas with the Mwagi Magi licenses
abutting ground adjacent to the recently announced Spinifex Gold Limited/Resolute
joint venture where Spinifex have identified resources on their Nyakufuru license
totalling 3.6 million tonnes grading 6.29g/t for 730,000 ounces.

The tenements which make up the package in this area are largely soil covered but
occur at the intersection of several major regional structures which are thought to be
associated with mineralisation at the adjacent Nyakufuru prospect.

On the Mwagi Magi tenements which abut Nyakufuru to the east, there are two large 2
km x 1 km, plus 20ppb gold in soil anomalies. Gold appears to be located within a
major NW striking structure with enrichment where intersected by NE trending faults.

RAB drilling has defined a number of gold anomalies with best results of 8 metres
averaging 3.55g/t in hole MMG B056.

Resolute will spend a minimum of US$275,000 on the Nyakufuru JV before 31
December 2002 at which time Resolute can elect to either withdraw or spend a further
US$275,000 on the venture over an 18 month period to earn a 51% interest of Sub-
Sahara’s interest in the licences.

Having earned the 51% interest, Resolute can either :

1.   Continue sole funding to earn a further 19% of Sub-Sahara’s interest by spending
     US$5 million or by completing a Bankable Feasibility Study (BFS) within 4 years.
     Should funding of this stage exceed US$5 million, Resolute will continue to free
     carry Sub-Sahara to completion of the BFS and Sub-Sahara shall repay Resolute
     its pro-rata share out of 50% of Sub-Sahara’s production cashflow; or

2.   If Resolute elects to cease funding at 51% or before spending US$1 million, then
     they will revert to a 40% interest. If having spent US$1 million, Resolute decides
     to cease funding, they shall revert to a 49% interest. Any election by Resolute to
     cease earning will return management to Sub-Sahara.

All expenditure by Resolute on the Nyakufuru JV will be on behalf of, and part of its
commitment to the joint venture it has with Spinifex Gold.

Kahama Joint Venture

The Kahama Joint Venture is situated 30km west of Resolute’s Golden Pride gold mine
and covers approximately 450km2 of the western end of the Nzega greenstone belt.
The licenses straddle the regional Nzega Fault and lie immediately south of the 2
million ounce Chocolate Reef gold deposit.

Artisinal gold workings in quartz veins within sericite-chlorite schist are located in the
northern part of the tenure only 5 km south of the (Barrick/Anglo Gold) Chocolate Reef
deposit. Narrow moderate grade mineralisation occur within a number of areas and
some subtle gold in soils anomalies remain untested.
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Resolute will spend a minimum of US$100,000 on the Kahama JV before 31 December
2002 at which time Resolute can elect to either withdraw or spend a further
US$275,000 on the venture over an 18 month period to earn a 51% interest of Sub-
Sahara’s interest in the tenements.

Having earned the 51% interest, Resolute can either :

i.        Continue sole funding to earn a further 19% of Sub-Sahara’s interest by
          spending US$5 million or by completing a BFS within 4 years. Should funding of
          this stage exceed US$5 million, Resolute will continue to free carry Sub -Sahara
          to completion of the BFS and Sub-Sahara shall repay Resolute its pro-rata share
          out of 50% of Sub -Sahara’s production cashflow; or

ii.       If Resolute elects to cease funding at 51% or before spending US$1 million, then
          they will revert to a 40% interest. If having spent US$1 million, Resolute decides
          to cease funding, they shall revert to a 49% interest. Any election by Resolute to
          cease earning will return management to Sub-Sahara.




PETER SULLIVAN
Resolute Mining Limited
Chief Executive Officer




MIKE GRIFFITHS
Sub-Sahara Resources NL
Chief Executive Officer

11 April 2002




R:\Corporate\Corporate\ASX-Sub-SaharaResoluteJV100402.doc
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                                               NYAKUFURU AND KAHAMA
                                                JOINT VENTURE AREAS
   Nyakufuru
Area Of Infuence




               Nyakufuru Project
                             1558/2000
                              267/95
           Nyakufuru
                                          1415/99
                              Kanagali                                                              Shinyanga

                 1499/2000
                                                        Kahama




                                                                 1864/2001   Isaka
                                            Kahama Project
                                                                                                                                                 o
                                                                                                                                           4
                                                       633/97
LEGEND
    Resolute - Sub-Sahara Kahama JV
                                                    1863/2001
                                                                                                Golden Pride
                                                                                                Golden Pride
       Resolute - Sub-Sahara Nyakafuru JV
                                                       662/97                Awaited
       Resolute - Spinifex Nyakafuru JV                           Awaited
                                                                                        Nzega

       Resolute Golden Pride Project
       Lake Victoria Greenstone Belts
       o
  32                           50km                                            33
                                                                                    o

                                                                                                         Nyakufuru-Kahama_JV_April2002_B&W.cdr

								
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