International Antam Resources books 9-month revenue increase

Canadian International Antam Resources Ltd. listed in TSX Venture Exchange announced on Friday it booked 9-month revenue of C$4,314,669 from the sale of 8,423 ounces of gold and 20,319 ounces of silver from the Company's operations at Cikidang, West Java, Indonesia, compared to revenue of $3,747,041 for the nine month period ended September 30, 2002.

Net earnings after tax, for the nine month period ended September 30, 2003 were $150,988 compared to a net loss of ($98,112) for the nine month period ended September 30, 2002. The improvement is attributed to higher sales volumes and average gold price achieved.

The company's cash cost of production for the period was US $240 per ounce of gold equivalent produced. Amortization of property acquisition and development costs amounted to US $42 per ounce of gold equivalent for a total production cost of US $282 per ounce of gold equivalent produced. For the comparable period ended September 30, 2002, cash cost of production was US$219; amortization was US$39 for a total cost of US$258 per ounce of gold equivalent. The average sales price received during the nine month period was US$354 per ounce of gold and US$4.54 per ounce of silver compared to an average price of US $303 per ounce of gold and US $4.64 per ounce of silver for the nine months ended September 30, 2002.

International Antam Resources Ltd. is a gold and silver producer carrying on mining and mineral exploration in Indonesia. The company is a subsidiary of JSX-listed state miner PT. Aneka Tambang Tbk. (alex)