Non-renounceable rights issue

LODGMENT OF PROSPECTUS
As Sharcholders will be aware Glants Reef Mining Limited is proceeding to develop its majority
ownership in the high grade Chariol gold deposit located 9 kilometres west of the toum of Tennant
Crcck NT. At the same time the Company has elected to refurbish the Wmcgo Ore Treatment Plant, a
facility in which it has one hundred percent ownership. The Warrego plant, which is currently the only
treatment facility on the entire Tennant Creek Goldfield, has additional capacity to that required to
treat the Chariot ore. The re-establishment of thc larger Warrego Plant is of significant strategic
inlportance to the Company.
To achieve the above objectives the Company is pleascd to advise that it has lodged a Prospectus with
the ASIC today for the offer of up to 140,452,320 Shares at an issue price of $0.036 each, together
with 70,226,160 to raise up to $5,056,284.
The offer is a Fro-rata Non-renounceable Entitlements Issue made to existing Shareholders of Giants
Reef Mining Limi,ted on the basis of one new Share (and one half of a free attaching Option) offered
far every three shares held at the Record date. The Record date has been set at close of business Friday
24 May 2002.
Shareholders may apply for additional Shares beyond their 1:3 entitlement, subject to availability and
the discretion of Directors.
The Shares will rank pari passu with the existing shares. Each Option is exercisable into a Share by the
payment of $0.10 per Option at any time prior lo 5:OO PM Western Standard Time on the 30 June
2004.
Full details of the Offer are included in the Prospectus. Shareholders and investors arc urged to read
the Prospectus in full.

Regards

Desmond