Weda Bay appoints lead engineer for Halmahera bankable feasibility study

Weda Bay Minerals Inc. (TSE: WDA) announced that a Joint Venture of Kvaerner Process (Australia) Pty Ltd and

Hatch Associates Pty Ltd has been confirmed as the preferred tenderer to undertake the Bankable Feasibility Study on the Company's extensive nickel and cobalt laterite deposits on Halmahera Island, Republic of Indonesia.

The Board of Directors of Weda Bay Minerals has confidence that this is a very strong team and will move this world-class resource towards production.

The target date for the completion of the Bankable Feasibility Study is year-end 2001.

Contacts:

David Roach, Chief Financial Officer, Weda Bay Minerals Inc., Telephone: (61) 7 3250 2200

Investor Relations Contacts: Doug Fosbrooke, Telephone: (604) 687 6223 or (1-888) 933 2646, Facsimile: (604) 608 6163