SOUTHERN AFRICA MINERALS CORP. - 14 NEW KIMBERLITES IN FIRST 17 HOLES.

TORONTO--(BUSINESS WIRE)--Feb. 28, 1995--Southern Africa Minerals Corp. ("SAF") is pleased to announce that drilling on its wholly owned Molopo Project in Botswana has thus far successfully penetrated kimberlite pipes in eighteen of the first twenty-one holes.

Of these, four were known pipes previously drilled by Falconbridge, which were resampled with modern reverse circulation (RC) drilling techniques in order to truth historical diamond intersections. Fourteen of the new pipes were identified as high priority drill targets from the recently completed airborne surveying programs.

Drilling is being performed on SAF's Molopo licences where 74 high priority targets have been identified. The 74 new targets are in addition to the 35 known kimberlite pipes of which 7 are known to be diamondiferous. Approximately 20 of the new targets are located in the confines of the known diamondiferous swarm. Two of these targets are previously unknown satellite bodies of the M-1 Pipe which is recognized as the world's largest diatreme.

The exploration (RC) holes are averaging approximately 140m which allows them to penetrate through the weathered epiclastic crater sediments into fresh pyroclastic or intrusive facies kimberlite, which are the preferred samples for analysis. The sampling program for each kimberlite consists of a representative 50 or 100 kg sample which is analyzed for diamonds using acid dissolution techniques, and a 5 kg representative sample of the same material which will be utilized for kimberlitic indicator mineral analysis and petrography. This work is being performed by a South African laboratory, and results from the first holes are expected some time in March. The company is fully funded to carry out the balance of an 80 hole drilling program.

The company is also pleased to announce that Fraser Fell and Philip Orsino have been appointed to the board of directors. Fell is the chairman and C.E.O. of Gentra Inc., and Orsino is president and C.E.O. of Premdor Inc. Wayne O'Connor and Stewart Jackson have resigned as directors of the company.

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THE PRESS RELEASE WAS PREPARED BY SOUTHERN AFRICA MINERALS CORP. WHICH ACCEPTS THE RESPONSIBILITY AS TO ITS ACCURACY, NEITHER THE ALBERTA STOCK EXCHANGE NOR ANY REGULATORY AUTHORITIES OR SIMILAR BODY, HAVE APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

CONTACT: Wayne J. O'Connor, 416/365-0250

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