Release: Dairi Project ? Anjing Hitam drill results

The following is a release from Herald Resources Limited to the Australian Stock Exchange.

November 17, 2003 -- In the recent Quarterly Report Herald announced that SOP88D had made an intersection of more than double the anticipated thickness at the northern end of the Anjing Hitam Main Mineralised Horizon, which has an Ore Reserve of 6.3Mt at 16%Zn and 10%Pb and is currently the subject of a Bankable Feasibility Study.

Assay results are now available for this hole, which intersected an estimated true thickness of 17.5m of massive sulphides at an average grade of 13.8% Zn, 7.2% Pb and 6.5g/t Ag which is only slightly below the average grade for the whole deposit. An additional intersection of 0.95m estimated true width at 13.8% Zn, 5.5% Pb and 11g/t Ag was intersected in the Lower Mineralised Horizon about 2m below the Main Mineralised Horizon. (End of release)

Editor's note: Dairi project is located in North Sumatra. Herald has 80 percent stake in PT Dairi Prima Mineral, which runs the project, while state miner PT Aneka Tambang Tbk holds the remaining 20 percent.