Botswana Diamondfields: Strategic Investment in Rapidly Growing Junior Mining Company.

VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 16, 1997--

Botswana Diamondfiel (VSE:BWD)

The company is pleased to announce its $3 million participation in a private placement by Crew Development Corp. ("Crew"), a junior mining company listed on the Toronto, Pacific and Frankfurt stock exchanges.

Crew has raised $10,000,000 by way of a private placement through the sale of 5,000,000 units at $2.00 per unit, of which Botswana Diamondfields has acquired 1,500,000 units. Each unit consists of one share and one half share purchase warrant, one whole warrant entitling the placee to purchase one additional share of Crew, for 18 months, at $2.50 per share.

The acquisition, by Botswana Diamondfields Inc., of 1,500,000 units of Crew, which will comprise about 5.8 percent of the issued and outstanding shares of Crew following the closing of the private placement, is a strategic investment in furthering the company's development strategy in southern Africa.

Management is confident that this investment will add significant short to medium term value for our shareholders. In combination with the present exploration activities of the company in southern Africa, which are by their nature longer term, management believes that the investment provides more balance, together with potential for more immediate shareholder returns.

Crew is an international operating and diverse mining company with the potential to become established as a Mining House to junior resource companies. Effective March 1, 1997, Crew acquired a 50 percent stake in Metorex (Pty) Ltd., a profitable, independent, junior mining company based in Johannesburg, South Africa.

Metorex, who are the operators of Botswana Diamondfields' Water Fissure and Bellsbank projects, will act as the operating arm of Crew in southern Africa. Metorex is the operator of several profitable mines holding equity stakes ranging from 13 percent to 65 percent. Annual group sales approximate R400 million (C$125 million) and they employ over 3,000 people in the mining of base metals, gold, coal and manganese dioxide.

Effective Oct. 1, 1997, Crew acquired a 29.75 percent direct interest (approximate 40 percent direct/indirect interest) in the Chibuluma copper project in Zambia, as part of the privatization of Zambian Consolidated Copper Mines Ltd. ("ZCCM").

The Chibuluma project comprises Chibuluma West, an existing profitable (approximately US$5 million per annum) operating mine, and a drill-proven ore reserve, Chibuluma South, located 12 kilometres distant.

Chibuluma West is situated 12 kilometres west of the main Copperbelt town of Kitwe and the Nkana smelting/refinery complex, and is currently the second most profitable mine in Zambia, producing approximately 9,500 tons of copper metal and 200 tons of cobalt per annum.

It was developed in the 1950's and was one of the higher grade and lower cost producers within ZCCM, with proven mineable ore reserves of 1,500,000 tons at 3.63 percent copper and 0.13 percent cobalt, capable of supporting operations for a further four years. Favourable geological potential to further extend the reserves exists.

Chibuluma South is a drill proven mineable sulphide ore reserve of 6 million tons grading 4.35 percent copper, with additional oxide ore reserves of some 2,400,000 tons, grading in excess of 3 percent copper.

This ore body has been defined by extensive drilling, sampling and geotechnical programs, and is anticipated to be easily mineable and to present few difficulties with concentrating, smelting, refining and marketing. Concentrating will be by a single floatation process and the concentrate grade has been estimated at 46 percent copper with insignificant cobalt.

Development of the Chibuluma South mine will commence immediately upon completion of engineering studies, with the objective of reaching production in approximately three years. The mine will be engineered to operate at 40,000 tons of ore per month, producing some 16,500 tons of copper metal per annum.

The Chibuluma South mine will be the first new mine in Zambia in 20 years and will be brought into production prior to the closure of Chibuluma West, thereby enabling continuity of employment and optimal use of the assets and infrastructure of Chibuluma West.

The combined operating life of both mines could be approximately 18 years, during which time for a period of three years (4 through 6), both mines could be in production.

Following this acquisition, the company has some C$11.8 million in treasury and is debt free. It is intended to utilize this strong financial base to vigorously pursue further exploration and undervalued production opportunities on behalf of our shareholders. John M. Darch, President -0- The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Botswana Diamondfields Inc.

John M. Darch, 604/682-0566 or 1-800-444-9284 Toll Free

604/662-3180 (FAX)

http://www.crewgroup.com

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