Time to Load up with RELODE?

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    Is it time to load up with relode?.

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    HOMEX - Perth

    ReLODE reaches agreement with the Ngaanyatjarra Land Council and
    aboriginal claimant to explore its 100% owned Morgan Range Project
    area (EL69/1650) within the Musgrave of Western Australia,

    ReLODE is today pleased to announce that it has executed a Deed of
    Agreement dated the 16th May 2002 with the Ngaanyatjarra Land Council
    and the aboriginal claimant. The agreement was reached in respect of
    proposed exploration by ReLODE within EL69/1650, its Morgan Range
    Project area, that is located within Ngaanyatjarra lands on the
    Musgrave in Western Australia.

    Upon approval of ReLODE's proposed work program the implementation of
    a clearance program will be undertaken over its Humpback and Pilot
    target areas within its Morgan Range Project area. Subject to
    clearance being obtained ReLODE will promptly undertake the
    ground-based EM and magnetic geophysical surveys along with
    geochemical LAG sampling. The results of this work will be used to
    establish the drilling required to test these potential nickel
    sulphide targets. The drill testing of Humpback and Pilot will
    follow as soon as practicable after the completion of the geophysical
    and geochemical surveys in accordance with the terms of our Deed of
    Agreement with the Ngaanyatjarra Land Council.

    Subject to the clearance program, ReLODE anticipates being ready to
    drill test the two EM targets by about August 2002.

    ReLODE is endeavouring to progress access within its other 100% owned
    tenements within the Musgrave of Western Australia. Negotiations are
    significantly progressed concerning a number of these tenements.

    At ReLODE's 100% owned Oodnadatta Project area, located within the
    Gawler Craton of South Australia, ReLODE will be on-site at its
    Toondina Dam target undertaking gravity and magnetic surveys within
    about one week. The company anticipates being in a position to
    commence drill testing this, copper-gold target by about the end of
    June 2002.

    ReLODE is set to become one of the most active on-the-ground
    explorers for nickel sulphide mineralisation in the Musgrave of
    Western Australia. This exploration effort will be conducted
    concurrently with the company's copper-gold mineralisation
    exploration effort within the Gawler Cralon of South Australia.

    Dr R F C Morritt
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