CSM - Company Announcement $gen0 8 March 2005 Part 1/1 --------...

CSM - Company Announcement
$gen0
8 March 2005
Part 1/1
--------

ConsMin extends Reliance offer to Mar 18; now owns 86pc

Sydney - Tuesday - March 8: (RWE Australian Business News) -
Consolidated Minerals Ltd today announced that it had extended its
takeover bid for Reliance Mining Ltd to March 18.

ConsMin said it had increased its relevant interest in Reliance
to 86 per cent following a continued strong flow of acceptances.

Once it increases its relevant interest in Reliance to more than
90 per cent and also owns or has acceptances of 90 per cent by value of
all securities, ConsMin plans to proceed to compulsorily acquire the
remaining Reliance shares, notes and options.

The acquisition of Reliance underpins ConsMin's nickel strategy,
providing a strong production base through the 5,000tpa Beta Hunt nickel
mine in the Kambalda region, together with significant exploration and
development upside alongside its three existing nickel joint ventures.

Shares in Consolidated Minerals closed up 2c to $3.63 today
while Reliance Mining traded steady at 65c.

ENDS