Rift Resources Ltd. - Nefasit-Mt. Sabub Project Update.

TORONTO--(BUSINESS WIRE)--March 26, 1997-- (VSE RIF.)

Additional Sampling Extends Previously Reported Gold Discoveries

Targets Being Defined for Possible Late Second Quarter Drilling

Rift Resources Ltd. is pleased to report that new and follow-up sampling on its Nefasit - Mt.Sabub project in Eritrea has confirmed and better defined several areas of primary gold mineralization previously reported (February 4, 1997). The Nefasit-Mt. Sabub Exploration Licence comprises a 1,900 sq. km area approximately 25 km east of Asmara.

Preliminary trenching has been carried out at the Nefasit prospect which comprises a gossanous quartz vein within a wider zone of shearing. The main vein varies up to 3.0m in thickness and can be traced at surface in excess of 250m along strike. Visible gold is reported within gossanous cavities in the quartz. Other, parallel veins occur to the north and south of the sampled vein. Chip sampling over a 100m strike section of the vein indicates gold values of 10.53 g/t over 0.5m, 10.32 g/t over 1.0m, 9.84 g/t over 1.0m, 7.82 g/t over 1.0m, 6.31 g/t over 0.7m, 5.49 g/t over 1.3m, 5.25 g/t over 0.1m and 4.8 g/t over 0.4m. The extensively sericitized, kaolinized, and sheared granitoid wall rock is also mineralized, with gold values up to 1.54 g/t.

At the Moggot prospect in the south-central part of the licence, trenching has confirmed earlier anomalous gold values reported over a 100m x 100m area (values up to 164.0 g/t Au). Chip sampling of veins within this area include 113.14 g/t Au over 1.0m, 53.03 g/t Au over 0.6m, 20.02 g/t Au over 0.2m, 2.57 g/t Au over 1.0m and 1.85 g/t Au over 0.5m. Trenching suggests that the veins widen at depth. Results of sampling of the intervening, intensely altered and tectonized wall rock are awaited. The zone of mineralization appears to coincide with a zone of shearing which can be traced northward through two other gold prospects, at Ba-Areza and Ginda, for a total strike extent of 17 km. Gold occurs free (visible gold) and in association with minor sulphide mineralization, mainly pyrite and chalcopyrite, in a network of quartz veins cutting fine to medium grained granodiorites.

Further trenching and sampling is ongoing on both the Nefasit and Moggot gold showings and target definition is being accelerated in preparation for drilling to commence late in the second quarter.

Rift Resources Ltd. is a Toronto based mineral exploration and development company with exploration, administrative and/or representative offices in Asmara, Eritrea, Addis Ababa, Ethiopia and Kampala, Uganda. The Company is pursuing the acquisition and development of quality gold and gold-rich base metal projects in Ethiopia, Eritrea, Uganda, Zimbabwe and elsewhere in Africa and currently holds directly, through joint venture, or has under application, interests in 18 gold projects in 8 countries of eastern, southern and western Africa amounting to approximately 2.6 million hectares, of which 1.95 million hectares has been granted and is held under appropriate licencing facilities.

(All assay results and analytical procedures referred to in this news release were carried out at the Don Mills, Ontario laboratory of XRAL Laboratories, a division of SGS Canada Inc.)

There is a map available by contacting the company at the number below. -0- The Vancouver Stock Exchange has neither approved nor disapproved the contents of this Release.

CONTACT: Rift Resources Ltd.- Toronto

Terence N. McKillen, 416/368-5685

Toll Free: 1-888-866-RIFT

or

Rift Resources Ltd.- Toronto

Sarah Noonan, 416/368-5685

Toll Free: 1-888-866-RIFT

or

Rift Resources Ltd.- Calgary

Wilfrid A. Loucks, 403/ 265-4356