env approval - construction to start SALLY MALAY MINING LIMITED...

env approval - construction to start SALLY MALAY MINING LIMITED 2003-03-20 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
* Environmental approval received clearing the way for the
development of the Sally Malay Project
* Construction earthworks scheduled to commence during 2nd week April

MINISTER FOR ENVIRONMENT RATIFIES LEVEL OF ASSESSMENT

Sally Malay Mining Limited (ASX: SMY) is pleased to announce that the
Minister for the Environment and Heritage has ratified the level of
assessment previously set for the Sally Malay Project by the
Environmental Protection Authority. The Project has now satisfied the
environmental impact assessment requirements of the various statutory
authorities. The Company will now proceed with submitting
documentation to the Department of Industry and Resources and the
Department of Environmental Protection for the various Project works
approvals and licenses. Development of the Project will commence
immediately with construction earthworks scheduled for the 2nd week
of April 2003.

COMMENTARY

This is a significant Project Milestone and was the last remaining
hurdle to the development of the Project which will now proceed
nearly 30 years after it was first discovered. Statutory Approvals
are also a major Condition Precedent under both the Alliance
Agreement with Roche Mining and the Project Financing being provided
by Macquarie Bank and Standard Bank, London.