Crew Development Announces Chibuluma South to be the First New Mine in Zambia in 30 Years, Producing 18,000 Tonnes Per Annum of Copper.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--March 31, 2000

The company (TSE:CRU.) (FRANKFURT:KNC.) is pleased to announce the commencement of mine construction of the Metorex Chibuluma South copper mine, in May 2000, which will be the first new mine in Zambia in 30 years.

Production, which will approximate 18,000 tonnes per annum of copper, is anticipated to commence within 10 to 12 months.

Front end engineering, design and procurement has been awarded to a leading process engineering and project management company.

The Chibuluma South mine is located some 12 km from the profitable Chibuluma West mine. Chibuluma South will be developed in two stages, initially as an open pit operation to handle the oxide ore and subsequently underground to access the sulphide ore.

Consequently, the infrastructure and processing plant capable of treating 40,000 tonnes of ore per month will be installed upfront, with the vertical shaft and incline ramp system to access the underground reserves being deferred. As a result, the costs thereof will be partly funded from early stage cash flows from the open pit operation. At a production rate of 40,000 tonnes per month, the 7.8MT reserve, grading 4.3% copper, will support an operation for approximately 16 years.

Chibuluma West, which has been in production for some 40 years and is one of the more profitable mines in Zambia, currently produces some 8,400 tonnes of copper and 100 tonnes of cobalt per annum. The mine has reserves / resources of approximately 1,200,000 tonnes grading 4.7% copper, representing a further five years of mining, although further extensions to the ore body are anticipated.

During the period that both Chibuluma West and Chibuluma South are operational, total copper production for the Metorex group will approximate 40,000 tonnes per annum.

Crew holds a 41% effective controlling interest in Metorex, which is listed on the London and Johannesburg stock exchanges and is the preeminent mid-tier multi-commodity mining company in southern Africa, with revenues in excess of C$150 million. The company has established a profitable track record over the past 25 years and presently has successful operations in copper, cobalt, zinc, gold, antimony, fluorspar, manganese dioxide and coal.

John M. Darch, President and C.E.O.

This News Release was prepared by the Board of Directors on behalf of Crew Development Corp. which is solely responsible for its contents.