Iriana acquires second diamond property in Canada

Iriana Resources Corporation announces the acquisition (100?/o interest) of a second diamond exploration property, of approximately 50,000 hectares (500 sq km), in Manitoba, Canada. This property is located approximately 40 km NE of the 44,375 hectare property the company acquired in early November, 2000.

This second acquisition closely followed the acquisition, in early December by De Beers Exploration Canada Inc., of 776,000 hectares (7760 sq km) of ground in the same area. These properties are in addition to the 198,000 hectares already held by De Beers in this northern Manitoba ``Oxford-Knee Lakes'' region.

Currently in this ``Oxford-Knee'' area about 1,800,000 hectares of ground is held; with Kennecott Canada Inc. holding 423.000 hectares. BHP Minerals Ltd. with 237,000 hectares and De Beers 'with a total of 974,000 hectares. These three companies are major world players in diamond exploration and mining. Iriana's initial property is in the centre of this activity.

The major diamond companies mentioned above have been quietly exploring this region for the last few years. Also, the Manitoba Mines Department has released promising diamond indicator data from their regional Multi-media Geochemical Surveys in 1999 and 2000. It is felt by many that, with diamond bearing kimberlites being found in provinces and territories surrounding Manitoba and having the same geology. Manitoba's ``Oxford-Knee'' region will be the next hot area in Canada.

Iriana Resources Corporation is a TSE listed mineral exploration and development company with significant exploration interests in Indonesia.

Contact: Douglas Fogwill at 204-487-4684. (*)