Issue of warrants & options

RNS Number:1989R
Capricorn Resources PLC
22 October 2003


                    Capricorn Resources Plc ('the Company')

       Issue of warrants to subscribe for Ordinary Shares at 1p per share
                                       &
                               Grant of Options


Capricorn Resources Plc, the AIM listed mining and exploration company, at its
Board meeting held on 3 October 2003 resolved, in recognition of the efforts of
the Directors and to facilitate the issuing of warrants to locals in the
Company's area of operations (EPN scheme), the issue of 41,000,000 warrants.

The following warrants are to be issued pursuant to the agreement as follows.

A. S. Groves                                         16,000,000
P. H. Edmonds                                        10,000,000
R. B. Rowan                                          2,500,000
B. M. Moritz                                         2,500,000
EPN                                                  10,000,000

Each warrant will grant the holder the right to subscribe for one Ordinary share
at the price of 1p, such right to be exercisable between at any time between 31
March 2003 and 31 March 2008.

Application has been made for the 41,000,000 warrants to be admitted to trading
on AIM. Admission is expected to take place on 27 October 2003.

Furthermore it was resolved that, pursuant to the Company's Option Scheme
adopted on 23 December 2002, the following options would be granted at market
price, being 1.5p per Ordinary Share, to be exercisable during the period
between the date of grant and the fifth anniversary thereof, that option
certificates in respect of such options be issued and that the names of the
grantees be entered in the register of option holders:

A. S. Groves                                         3,125,000
P. H. Edmonds                                        3,125,000

                                      ENDS

Contacts:

Phil Edmonds         Capricorn Resources Plc                Tel: [phone]
Hugo de Salis        St Brides Media & Finance Ltd          Tel: [phone]



                      This information is provided by RNS
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