Maranda Mines Ltd. (A Metorex Group Company) Announces a Net Income Increase of 41 Percent for the Quarter Ended June 30, 1997.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 22, 1997-- (TSE;VSE CRU ) The Company is pleased to release the operating and financial results of Maranda Mines Ltd. (a Metorex Group company) for the quarter ended June 30, 1997.

Crew Development Corp. has a 50 percent equity interest in Metorex, one of the most efficient and profitable junior mining group in South Africa, and operators of six mines, in which they hold equity positions ranging from 28 percent to 65 percent. This diverse group produces zinc, copper, gold, coal, manganese and antimony; will have sales in excess of R400 million and employ some 3,000 people, when the Chibuluma (Zambia) copper project is completed.

Maranda Mines Ltd., in which Metorex holds a 28 percent equity interest, is currently listed on the Johannesburg Exchange and has established itself as one of the most successful junior mining ventures in South Africa. Maranda is a zinc and copper producer, located in the Murchison Range area in the Northern Province of South Africa. It has been profitable since operations commenced in 1992 and currently produces some 12,000 tons of zinc, which equates to approximately 15 percent of South Africa's national zinc production, and 1,500 tons of copper per annum.

Because of its holding of mineral rights to approximately 80 percent of the 80 kilometer strike length of the copper/zinc line in the Murchison range, there is considerable potential for expansion of reserves and operations. John M. Darch, President

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

MARANDA MINES LIMITED

(A METOREX GROUP COMPANY) INCORPORATED IN R.S.A.

Report of the directors for the quarter ended June 30, 1997 (Income reported in Rand).

                            Quarter ended     Quarter ended
                                 30/06/97          31/03/97
                           (Consolidated)    (Consolidated)
                              (Unaudited)       (Unaudited)

OPERATING RESULTS:
Tons milled (t)                    23,229            22,601
Metal in concentrate sold
Zinc sales (t)                      3,197             3,425
Copper sales (t)                      431               421
FINANCIAL RESULTS (R000'S)
Metal Sales                        25,013            22,270
Stone sales                           272               141
                                   25,285            22,411
Cost of sales                      18,402            18,221
Operating profit                    6,883             4,190
Non operating income                  394               840
Income before taxation              7,277             5,030
Taxation - normal                   1,827             1,169
Net income                          5,450             3,861
Capital expenditure                   606             1,144

COMMENTS:

1.   This report covers the operations of Maranda mines Limited
     ("Maranda") and its wholly owned subsidiary, Maranda Mining
     Company (Pty) Limited.

2.   The 41 percent increase in net income was largely due to a
     higher average zinc price of R5,974 per ton (previous quarter
     R5,289 per ton).  The outlook for the zinc price remains firm
     and accordingly marginally lower grade ore is being processed.

3.   The  stone treatment plant at Rooiberg is operating
     satisfactorily and market penetration is being achieved.

4.   The decision to proceed with the Letaba Copper Zinc project
     has been taken and production from that deposit is envisaged
     within 18 months.

5.   A dividend of 18 cents per share has been declared which
     constitutes a 50 percent increase on the comparable dividend
     from Maranda Mining company (Pty) Limited for the preceding
     ten month period.

6.   As announced on August 1, 1997, subject to final
     documentation, the company has a 30 percent share in the
     consortium which has been awarded the tender by ZCCM to
     purchase the Chibuluma Mine and develop the Chibuluma South
     project.  The purchase consideration and financing of capital
     expenditure is envisaged by means of the introduction of debt
     and equity finance in a Zambian registered company to be
     formed.  On completion of the debt financing arrangements, the
     equity finance required by Maranda is envisaged by means of a
     Rights Issue.

CONTACT: Crew Development Corporation

John M. Darch, 604/683-7585

800/444-9284

FAX: [phone]

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