announcement re final draw down of

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    Appendix 3B - Issue of Convertible Notes


    HOMEX - Perth

    Please be advised that Anvil Mining NL ("Anvil"), has made the final
    drawdown of the USD$500,000 Convertible Note Facility as approved by
    the shareholders at the General Meeting of the Company on 29 April
    2002. The drawdown amount of AUD$296,560 takes the total Convertible
    Notes on issue to AUD$592,631. The note has a term of eighteen months
    at an interest rate of LIBOR (London Interbank Offered Rate) plus
    2.5% margin. These notes are convertible into Anvil ordinary shares
    at a price of $0.10 per share with each share issued having an
    attaching free option excisable at $0.12 each at any time before 23
    December 2004. The convertible note must be redeemed or converted as
    to one third of its face value within each six month period.

    The Appendix 3B for these transactions is attached.

    T Robson

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