Contiki Resources: Molopo Update.

VANCOUVER, British Columbia--(BUSINESS WIRE)--March 2, 1999-- Contiki Resources Ltd. (VSE:TKI) is pleased to update the results of the drill program on its license PL 139/93 in the heart of the Molopo kimberlite field, Botswana. Diamond counts have been received for the first three holes, no diamonds were found.

Lakefield Research has received samples from the remaining 7 kimberlite pipes for processing by their standard caustic dissolution methods. Lakefield expects to report results to Contiki over the next 3 to 4 weeks. Contiki plans to release the results as they are received.

The greater Molopo kimberlite field is known from work to date to contain at least 67 kimberlite pipes, 57 have been tested for microdiamond content and 14 or about 1 in 4 have proven to be diamondiferous. Contiki anticipates similar statistics will continue to apply to ongoing exploration in the area.

Contiki will select the most favorable kimberlite pipes for more detailed testing, and evaluation of their economic diamond potential after the Phase 1 drilling program. To date, only one of the known Molopo pipes (M-1) has had any serious evaluation. Molopo is one of eight known kimberlite fields in Botswana. Two already have developed mines -- Jwaneng and Orapa/Letlhakane and a third, Gope, has a project in feasibility. Botswana is the largest producer of diamonds, by value, in the world and Molopo has some of the largest kimberlite pipes in the world.

Contiki is earning a 60 percent interest in PL 139/93, Southern Africa Minerals Corporation will retain a 25 percent participating interest and Layfield Resources Inc. will retain a 15 percent participating interest.

ON BEHALF OF THE BOARD D. Neil Briggs, Director

No Stock Exchange has approved or disapproved the information contained herein.