MAN Manroy

RNS Number:2528F
Mano River Resources Inc
9 February 2000

      
                      Mano River Resources Inc.

No:  00/4


Canadian Venture Exchange (CDNX) Trading Symbol:  MNO
London Stock Exchange - AIM   Trading Symbol:  MANA


Private Placement Concluded Raising CDN$1,666,000 (GBP#694,000)

The Board of Mano River Resources Inc. ("Mano") announces that it has received
regulatory approvals for its Brokered Private Placement raising CDN$1,666,000
(GBP#694,000) which was announced on January 10th last and that the Placement
has been closed.

The Placement consisted of 5,783,000 common shares at GBP#0.12 per share as to
GBP#453,960 (CDN$1,090,000) through the Company's nominated broker for Aim,
Ellis & Partners Limited and as to GBP#240,000 (CDN$576,000) through Loeb Aron
& Company Ltd.

Net proceeds of the placement of approximately CDN$1,580,000 (after broker
commissions and issue costs) will be used by the Company to enable it to
advance the exploration of the Weaju, Gondoja and Gayama properties in
Liberia, where encouraging results have already been received, to continue its
exploration programme over a range of promising gold and diamond targets
elsewhere in the Mano River Union countries, and for general working capital
purposes.

Separately from the placing referred to above the Canadian Venture Exchange
have authorised the release from Escrow of 234,375 Performance Escrow Shares
which represent 50% of the 468,750 Performance Escrow Shares held by Mr. P.A.
Rhatigan, a Director of the Company.

Mano aims to create shareholder value through the identification, exploration
and development of high quality gold and diamond deposits in the West African
Mano River Union countries of Liberia, Sierra Leone and Guinea. The Company,
having made its pioneering entry into Liberia in 1995, is currently
concentrating its exploration efforts on its extensive licences in the west of
the country, where the principal targets comprise Archaean greenstone
sequences considered comparable to those of the Lake Victoria Gold Province in
Tanzania, together with potentially diamondiferous kimberlites related to the
well-known diamond province in neighbouring Sierra Leone. 


Tom Elder       
President and CEO       

                            
Contacts:
       Tom Elder       President and CEO             UK  +44 (0)1235 810 740
       John Mattison   Mattison Public Relations     UK +44 (0)171 729 3035
       Guy Pas         Co-Chairman               Switzerland +41 22 758 2151
       Tony Rhatigan   Co-Chairman                   UK  +44 (0)385 297 348
       Peter Dwerryhouse   Director              Canada+1(604)662 3730
                                                     UK  +44 (0)171 504 8147

he information contained herein has neither been approved nor disapproved by
the Canadian Venture Exchange


END

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