Loan Facility Completed

RNS Number:6648T
Cluff Mining PLC
24 December 2003





                                CLUFF MINING PLC



            Corporate Loan Facility with Standard Bank London Signed





Cluff Mining PLC ("Cluff") announces that it has completed its loan agreement
with Standard Bank London Limited ("Standard") for a Rand 40 million (US$5.7
million) one year loan facility (the "Facility"), whose terms include the
following:



*   Interest accrues at JIBAR (currently 8.7%) plus 3.5%

*   Cluff has granted Standard one million warrants to subscribe for new
    ordinary shares in Cluff at a price of #1.20 per share for a period of three
    years (expiring December 2006). Subscription rights under the warrants will 
    be adjusted for issues of shares at less than market price.

*   Standard has a right of first refusal to arrange the debt financing of
    Cluff's Blue Ridge Project



The Facility will provide finance for Cluff's ongoing exploration and
pre-development activities on Cluff's South African platinum group metal
projects and replaces the convertible loan facility (ECU) from RMB International
(Dublin) Limited and RMB Resources Limited ("RMB") of US$4 million plus accrued
interest of US$1.3 million which was repaid on 29 August 2003.





                                                               24 December 2003






ENQUIRIES:


Cluff Mining PLC                                        Tel: [phone]

Donald McAlister, Finance Director




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