Rift Resources Ltd. Silobela, Zimbabwe Preliminary Drilling Results.

TORONTO--(BUSINESS WIRE)--Feb. 18, 1998--Rift Resources Ltd.(VSE:RIF.)

Widespread Gold Mineralization Encountered in Preliminary Drilling Widespread gold mineralization has been encountered in preliminary holes of an 80 hole percussion drilling program. The program of short holes is designed to confirm near surface gold mineralization reflected in previously outlined soil geochemical and induced polarization anomalies. Gold mineralization appears to be associated with pyrite mineralization and cross-cutting zones of shearing, up to 20 metres in thickness.

Rift Resources Ltd. has been advised by its joint venture partner Reunion Mining plc that 31 short holes of percussion drilling totaling approximately 1,400 metres have been completed at Northallerton and a further 20 holes totaling approximately 900 metres have been completed at Leith Hills. The drill program is ongoing and a further 32 holes will be completed at Leith Hills for a further 1,500 metres of drilling in this preliminary phase program which is designed to test extensive gold soil geochemical and I.P. anomalies. The holes were drilled to a maximum of 45 metres depth and were designed to provide an initial test for near surface gold mineralization.

Assay results have been received for approximately 20 of the holes. Complete assay results will not be available until after the completion of the drill program which is scheduled to be finished at the end of February. Preliminary results indicate that widespread gold mineralization is associated with sulphide mineralization (pyrite) in sheared diorites and altered intermediate volcanics.

Results for the following intersections are given based on a combination of gold grade or the width of the zone of shearing, and cover three sections of holes at Northallerton (out of eight sections representing a strike length of 1,000 metres (Lines 300W to 1200W): -0-

Hole      Line          From(m)  To (m)   Interval   Au g/t
no.       no.                             (m)
------------------------------------------------------------

PH 1      Line 500W     6.00     8.00      2.0          2.33
                       16.00    30.00     14.0          0.23
PH 2      Line 500W     2.00     8.00      6.0          2.24
PH 4      Line 500W     2.00     8.00      6.0          0.87
                       32.00    40.00      8.0          0.83
PH 5      Line 500W    12.00    18.00      6.0          0.39
PH15      Line 700W     0.00     2.00      2.0          5.20
PH16      Line 700W    28.00    34.00      6.0          0.87
                       36.00    40.00      4.0          0.31
PH17      Line 700W    19.00    29.00     10.0          4.03
PH 13     Line 1200W   19.00    25.00      6.0          0.25
          Line 1200W   30.00    36.00      6.0          0.33

-0-

The mineralized intercepts represent at least three separate zones of shearing, up to 20 metres in true thickness. Mineralization appears to be open at depth and along strike. Continuity of mineralization may be controlled by cross-cutting structures at an oblique angle to the regional shearing trend of 330 degrees.

The ongoing preliminary phase of percussion drilling is expected to amount to approximately 4,000 metres and will continue to test the Northallerton anomaly, where two sub-parallel anomalous zones of soil geochemistry and I.P. extend for 3,100 m by 400-900 m and 1,500 m by 150 m respectively and the Leith Hills anomaly where two parallel zones have been identified, one with a strike extent of 7,000 m by 400 m in width and the second 3,000 m by 150 m.

There are several former gold mines on or adjacent to the Silobela joint venture property and two significant gold deposits are located in the central part of the area; the Jena mine (1.8 million tonnes at 5.8 g/t Au), operated by Trillion Resources Ltd./Zimbabwe Mineral Development Corporation, and the new Maligreen gold discovery of Reunion (current resource estimate is 2.5 million tonnes at a grade of 5.5 g/t Au). The Silobela joint venture comprises two areas stretching for 45 km to the east and 25 km to the west of these deposits which represent the type of gold target being sought by the joint venture partners.

All assay results have been obtained from SGS Laboratories in Harare, Zimbabwe using industry standard assay techniques. Percussion drilling can be considered to be somewhat qualitative rather than definitive and diamond drilling will be necessary to fully evaluate the two prospect areas in subsequent follow-up programs.

Rift Resources Ltd. is a Toronto based mineral exploration and development company with exploration interests in Zimbabwe, Eritrea, Ethiopia, Uganda and Niger. The Company is pursuing the acquisition and development of quality gold and gold-rich base metal projects in Africa and currently holds directly, through joint venture, or has under application, interests in 17 gold projects in 6 countries of eastern, southern and western Africa amounting to approximately 3 million hectares.

Maps available upon request -0-

NOTE TO EDITORS: 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