SHORTERS PARADISE

Reefton Mining NL ("Reefton" or "The Company")

RESIGNATION OF CHIEF EXECUTIVE OFFICER

The Directors advise that Mr Simon Gilbert has resigned as Chief Executive
Officer of the Company. Mr Gilbert has advised that he wishes to pursue other
commercial opportunities however would continue to make himself available on a
consultancy basis. Mr Gilbert was not a Director of the Company.

The Company will give consideration to finding a suitable replacement for Mr
Gilbert as soon as possible.

The Board extends its gratitude to Mr Gilbert for his efforts and achievements
during the last year and wishes him the very best in his future endeavours.