directors shares, page-4

No probs, lyprcyls, here it comes:

Company Announcement


Seppelt Evaluation - Update

STRIKER RESOURCES NL 2002-11-29 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
* Initial 1,200m of definition drilling of Seppelt 2 completed
revealing a pipe comprised of near surface kimberlite adjoining a
bowl of apparent crater infill sediments.

* Fresh olivine rich macrocrystic kimberlite intersected at 198m
depth in drill hole SDD-011 and is overlain by a thick sequence of
crater infill sediments.

* A 119 tonne sample of crater infill sediment from the 18-22m depth
of Seppelt 1 reports a grade of 46cpht. The largest diamond being a
1.2ct gem quality stone.

* Commencement of inferred resource calculation and engineering
studies for initial trial mining of Seppelt 1 and 2 pipes. Seppelt 1
is 5km to the north of Seppelt 2.

* New kimberlite breccia pipe drilled at Seppelt 5.

SEPPELT 2

Initial definition drilling at Seppelt 2 kimberlite has revealed a
pipe, with dimensions of 50m x 10m. The pipe is comprised of near
surface kimberlite adjoining a deep bowl of apparent crater infill
sediments.

Fresh macrocrystic kimberlite has been identified beneath the crater
infill sediments in drill hole SDD-011, which appear to be at least
100m thick. The drill hole was angled at 70 degrees and intersected
31m of fresh olivine rich macrocrystic kimberlite from 198m to 229m.

As previously reported, a 183 tonne sample of the near surface
weathered kimberlite from Seppelt 2 reported an exceptional grade of
225cpht with the recovery of 412cts of diamonds. The diamond content
of the crater infill sediments is not known at this time. However,
Seppelt 1 has similar associated infill sediments, which have been
found to be similar in grade to the associated kimberlite. Inclusion
of the infill sediments in a resource calculation would add
significantly to overall resource tonnage at Seppelt 2.

Trenching is currently underway aimed at obtaining a bulk sample from
the near surface infill sediments for grade determination of the
material.

Based on drill results, an inferred resource calculation is being
undertaken on the kimberlite and associated infill sediments.

On-site engineering studies have also commenced with a view to moving
the existing Ashmore heavy media plant and associated infrastructure
to the Seppelt region, 20 kilometres to the south. The exercise will
be for the initial trial mining of both the Seppelt 1 and 2
diamond-bearing kimberlite pipes.

SEPPELT 1

Processing of crater infill sediments is continuing, aimed at
obtaining a plus 500 carat parcel of diamonds for valuation and
statistical studies. Results from the most recent sample of Seppelt 1
from the 18 - 22m depth has reported a grade of 46 cpht from 119 tonne
of material. This sample comprised the top weathered portion of the
kimberlite and including the base of the overlying crater infill
sediments. An 80 tonne sample of kimberlite taken just below the
infill sample returned a grade of 43cpht.

It is anticipated that the valuation parcel of diamonds from Seppelt
1 and 2 will be achieved prior to year end, thus allowing valuation
and statistical studies to be undertaken early in the New Year.
Approximately 400cts have been recovered to date from each pipe.

SEPPELT 5

A review of geophysical data sets has revealed a number of anomalies
located on the Seppelt 1 - Seppelt 2 structure. These anomalies are
similar in appearance to the Seppelt 2 geophysical anomaly.

Drilling and trenching of one of these targets has revealed a
kimberlite breccia blow similar in size to Seppelt 2. Geochemical
analysis of the clays has confirmed a kimberlite signature.


C Dodd
DIRECTOR

Information in this report, which relates to pre resource
mineralisation is based on and accurately reflects information
compiled by Mr Tom Reddicliffe, a full time employee of the company.
Mr Reddicliffe has relevant experience in relation to the
mineralisation being reported on to qualify as a competent person as
defined in the Australasian Code for Reporting of Identified Mineral
Resources and Ore Reserves.


BTW, note we havent heard much about the big gold exploration project, have we?

Cheers
GZ