Enters into Tech.Relationship

RNS Number:6679L
Angus & Ross PLC
29 May 2003



ANGUS & ROSS ENTERS INTO TECHNICAL RELATIONSHIP WITH PLACER DOME.

Angus & Ross PLC is pleased to announce that Queensland Tantalite Pty Ltd has
entered into a technical relationship with Placer Dome with regards to
Queensland Tantalite's Warroo prospect in southern Queensland. The exploration
permit surrounds, but does not include, the Warroo Mine which operated in the
late 1980's as a small-scale oxide gold heap leach operation. A programme, to be
undertaken by Queensland Tantalite, and supported by Placer Dome, will focus on
preliminary geochemical survey and regional mapping work that will follow on
from a recent review and reinterpretation of existing mapping, gravity and
magnetic data, with a view to developing the potential for additional gold/
copper sulphide mineralisation in the area.

As previously announced, Angus & Ross PLC has negotiated the acquisition of 100%
of the issued share capital of Queensland Tantalite. This transaction has now
received appropriate approval from the Foreign Investment Review Board of the
Australian Government. Final shareholder approval is being sought at an EGM
scheduled for 5th June, 2003.

Queensland Tantalite also owns tantalum and gold prospects at Grant's Gully in
northern Queensland. Further, as part of the acquisition agreement with Angus &
Ross, Queensland Tantalite will acquire mining leases at Rutherford's Table in
the Mount Wyatt Goldfield, Top Camp in the Cloncurry district east of Mount Isa,
and exploration permits at Werrington, Digger Creek and Eveleigh in northern
Queensland.

Mr Robin Andrews, Chairman of Angus & Ross, commented: "Having now moved one
step closer to completion of the acquisition agreement with the recent granting
of the Australian Foreign Investment Review Board approval, the interest and
support of a major mining company such as Placer Dome serves further to
underscore the value of the Queensland Tantalite acquisition to Angus & Ross,
not only in terms of the quality of the people that will be representing the
interests of Angus & Ross in Australia, and their ability to gain access to
major industry partners, but also the quality of the underlying assets that are
proposed to be acquired."

For further information, please contact:

Robin Andrews

Chairman

Angus & Ross plc

01439 748 350

[e-mail]







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

END
MSCKKLBLXEBZBBD