RNS Number:3131O
Angus & Ross PLC
05 August 2003



                     ANGUS & ROSS PLC ("ANGUS & ROSS") AND
                  CABOT CORPORATION IN CO-OPERATIVE AGREEMENT

                       START OF EXPLORATION IN AUSTRALIA


Angus and Ross is pleased to announce that it has entered into an Agreement with
Cabot Corporation for the purchase of its 50.1% interest in the Separation Lake
Lithium/Caesium/Tantalum property in Ontario, Canada. Due diligence has been
completed and Angus and Ross will shortly issue 400,000 shares to Cabot in
exchange for the transfer of the property to its newly incorporated Canadian
subsidiary. Following completion Cabot Corporation will own 6,250,000 shares of
Angus & Ross plc or 13.3% of the total issued capital.

In addition, Cabot has agreed to discuss multi-year offtake agreements for any
eventual tantalum produced from this, and any other projects that Angus and Ross
might develop, at mutually agreed prices and terms.

Located in Northwest Ontario, Separation Lake is a Joint Venture between Tanco
and Gossan Resources Ltd, a Canadian mineral exploration company, listed on the
VSE. With a total area of 2,224 hectares, the property is central to the highly
prospective English River greenstone belt, which hosts lithium, tantalum and
caesium mineralization. Exploration has already indicated significant anomalies
of both tantalum and lithium, probably contained in pegmatites. The property
lies directly along strike, and about 200 metres from the Big Whopper pegmatite,
held by Avalon Ventures Ltd, which hosts reserves exceeding 5 million tonnes
grading 1.3% Li2O and 70 ppm Ta2O5. The English River belt is an easterly
extension of the Bird River belt that includes Tanco's Bernic Lake Ta-Li-Cs mine
in eastern Manitoba.

Following the recent financing, exploration has started at the company's
Rutherfords Table gold property in Northern Queensland and preliminary sampling
has been encouraging. Actual results from the continuing work should be
available towards the end of August.

Angus and Ross PLC, formed in 1999, is an AIM listed Company specialising in
gold and tantalum minerals exploration, with active programmes in Australia and
Brazil as well as its world class tantalum resource in southern Greenland.

Cabot Corporation is a global specialty chemicals and materials company,
headquartered in Boston, MA. Cabot's major products are carbon black, fumed
metal oxides, inkjet colorants, and capacitor materials. Cabot has approximately
4,500 employees in more than 45 manufacturing plants and offices located in 23
countries around the world.



For further information please contact:

R.M.Andrews (Chairman, Angus & Ross)      01751 430988
C. Parry                                  01732 780901



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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