RNS Number:7075P
Caledon Resources PLC
12 September 2003


12 September 2003


               Caledon Resources PLC ("Caledon" or the "Company")


Caledon Resources PLC has noted recent speculation in the press relating to the
increase in its share price.


On September 9th 2003 the Company announced that it had entered into a
Memorandum of Understanding with Jinyou Geological Exploration Limited of the
China National Gold Group Limited ("CNGGL") to evaluate more than thirty
operating gold mines in China for the purpose of forming a joint venture to
develop suitable gold mines which would have the potential to host multi-million
ounce gold deposits.


Caledon is continuing to pursue a strategy of growth through entering into joint
ventures to develop and acquire advanced exploration properties and to develop
further its highly prospective exploration portfolio. The Company is hopeful
that some of its ongoing joint venture discussions will be concluded in the
coming weeks. Further announcements will be made as and when appropriate.


Caledon, as a matter of course, evaluates its property portfolio with other
mining companies interested in Southern China. However, nothing is expected to
evolve from these discussions in the short term.


Enquiries:


Stephen R Dattels, Executive Chairman

sdattels@caledonresources.com

tel: 020 7318 5783


George Salamis, Managing Director

gsalamis@caledonresources.com

tel: 001 519 835 7688


Donal Douglas, Investor Relations

ddouglas@caledonresources.com

tel: 020 7318 5788






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