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GRANGE RESOURCES LIMITED. M&A Activity 2003

Sep 9, 2003

65014_rns_2003-09-09_6ea33ea2-37fa-4ce9-92bf-92f31ed79491.pdf

M&A Activity

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FRANGE RESOURCES LIMITED A.C.N. 009 132 405

STOCK EXCHANGE ANNOUNCEMENT

HILLGROVE GOLD LIMITED

APPLICATION TO TAKEOVERS PANEL

10 September 2003

On 6 September 2003 Grange Resources Limited ("Grange") announced its intention to participate in a joint off-market takeover bid for Selwyn Mines Limited ("Selwyn") in collaboration with Hillgrove Gold Limited ("HGO").

Grange wishes to confirm that Hillgrove Gold Limited has made an application to the Takeovers Panel seeking an order that:

(1) the Receivers provide the information to the Selwyn Directors to enable them, the Australian Stock Exchange Limited and the market to consider the relative merits of any proposal to purchase the Selwyn assets, compared to the offmarket bid announced by Hillgrove Gold Limited and Grange; and
(2) the Receivers be prevented from further negotiating or entering into any binding agreement with any third party until such time as the Selwyn Directors are able to assess and obtain independent legal advice on the legal status of any agreement that the Receivers may have entered into with any third party in connection with the purchase of the Selwyn Assets.

For more information visit the Grange website at www.grangeresources.com.au, or alternatively contact Alec Pismiris on (08) 9321 1118.

ALEC PISMIRIS Company Secretary