MAN Manroy

RNS No 6019h
MANO RIVER RESOURCES INCORPORATED
4th January 1999


MANO RIVER RESOURCES INC.

QUARTERLY REPORT FOR THE NINE MONTHS ENDED 31 OCTOBER  1998
(PREPARED BY MANAGEMENT WITHOUT AUDIT)

Mano River Resources Inc.'s shares are listed on both the
Alternative Investment Market of the London Stock Exchange, and
the Vancouver Stock Exchange.

Consolidated statement of loss for the nine months ended 31
October 1998.

                              9 months ended         9 months ended 
                             31 October 1998        31 October 1997 
                                         US$                    US$ 

                     
Interest and other income             22,916                 24,102 

Expenses                            (455,510)              (178,072) 

Write-off of fixed assets             (6,071)                     - 

Net loss for the period             (438,665)              (153,970) 

                     
The following text is taken from the Management Discussion for
the Quarter Ended October 31, 1998:

The unaudited Consolidated Financial Statement for Mano River
Resources Inc. ("Mano" or the "Company") (formerly 'Zicor Mining
Inc.) covering the quarter ending October 31, 1998 are provided
herein for your review.

Exploration and Project Development

Exploration activity during the quarter has been largely devoted
to advancing knowledge of the Liberian properties, where
reconnaissance work has now confirmed the Larjor project as
currently the most promising target.

Larjor is 110km from Monrovia in the Bea Mountains schist belt,
where a 75%-owned Mano River subsidiary holds a 2,600 square
kilometre Exploration Licence awarded in April 1998. Sheared
ultramafic rocks and talc schists host disseminated gold
mineralisation in a subvertical zone with a known strike length
of 2km and widths locally of up to 100m.  Reconnaissance channel
samples across artisanal workings gave encouraging results,
including 20m at 4.1 g/t gold and 13.1m at 4.6 g/t gold, the
latter in a working 870m along strike from the first.  

Preliminary gold assay results from a 600m trenching program
completed in September, which sampled highly oxidised bedrock
along strike from the high grade workings, returned further
encouraging values. At the same time, trench results suggest the
mineralised zone is significantly wider than the present
workings in many localities, with values of:

Trench 2              20m at 1.0 g/t gold

Trench 6              20m at 3.1 g/t gold

Trench 7              28m at 1.9 g/t gold

Trench 8              10m at 1.1 g/t gold (1,000m south of trench 2)

Recent channel samples in the artisanal workings themselves,
taken at depths of from 3 to 7m below surface, included results
of:

5m @ 19.0 g/t gold       5m @ 10.7 g/t gold   and   4m @  7.0 g/t gold 

Elsewhere in Liberia, reconnaissance mapping, trenching and
sampling proceeded on a number of prospects, particularly
Weajua, Vaney Camp, Gondoja, Gayama and Zelegai.  Follow up work
will commence once all the assay results are available and have
been assessed.

In Sierra Leone, the Government has granted a 90%-owned Mano
subsidiary company two new Exclusive Prospecting Licences for
diamonds in the historically diamond producing Kono area. 
Centred on Yengema and N'Jaima Nimikoro respectively, these
licences are each of approximately 103 square kilometres.  The
N'Jaima area has long been known for producing stones which
differ from those in the main kimberlite zone, suggesting an
independent source rock.  Together with Mano's existing Nimini
Exclusive Prospecting Licence, these properties target the
central and western part of the Koidu-Yengema kimberlite dyke
swarm.  Of particular interest is the potential for
diamond-bearing kimberlites at two major intersections between
fault and dyke systems located between Koidu and Yengema, and
north of N'Jaima Nimikoro, respectively.  The Company plans, as
soon as local security conditions allow, an initial programme of
airborne geophysics.

In Guinea, a 4,000m programme of reverse circulation drilling on
the Missamana-Gueliban prospect has previously defined a
resource of 1.1 million tonnes grading 1.77 g/t gold
(approximately 60,000 ounces). The results of a soil
geochemistry survey carried out subsequently over the Gueliban
area are being assessed, prior to instigating follow-up work.

Corporate Developments

The Company's common shares resumed trading on September 18,
1998, on both the Vancouver Stock Exchange and the Alternative
Investment Market ('AiM') of the London Stock Exchange,
following completion of the Company's acquisition of Mano River
Resources Limited and the change of the Company's name from
Zicor Mining Inc. to Mano River Resources Inc.  As consideration
for its acquisition of 100% of the issued and outstanding common
shares of Mano, the Company issued 40,833,600 common shares of
the Company to Mano's shareholders, of which 12,063,600 shares
are subject to an escrow agreement.

The company also completed an equity financing in the United
Kingdom and European Union to raise stg#756,535 (or
approximately Cdn$1,994,294) by the issuance of 6,304,458 common
shares at stg#0.12p (Cdn$0.30 cents) per common share. 
Following the completion of this equity financing and the Mano
acquisition, the Company has a total of 70,202,617 common shares
issued and outstanding (70,202,617 common shares on a fully
diluted basis), the Company's working capital position having
been further enhanced by the US$250,000 (approximately
Cdn$385,000) of cash available in the acquired company.

In other important developments, Guy Pas relinquished the role
of President and CEO as a result of the appointment of Dr Tom
Elder to that position in October, while in September Roger
Haiat joined the Mano board as a non-executive director and will
steer the Board Special Task Force on Gold and Diamond Trading.

An Advisory Board has been established and Mano is very
fortunate in that Senator Keikura Bayoh Kpoto and Mr Moustapha
Niasse have agreed to serve on it.  Senator Kpoto, who was an
important member of several previous Liberian governments and is
presently majority leader in the Senate, is the Chairman.  Mr
Niasse has served as Foreign Minister and Prime Minister in
Senegal and is currently retained by the UN to direct certain
African peace initiatives.

A number of press releases were issued detailing the corporate,
financial and technical developments during the period, the
maintenance of optimum investor relations continuing to be of
prime importance to the Company.  In the UK, the firm of
Mattison Public Relations was appointed to handle PR matters,
particularly in relation to the listing in London of Mano River
on the Alternative Investment Market.

Subsequent Events

As a result of the strong encouragement afforded by the mapping,
trenching and sampling programme at Larjor, a drilling contract
was signed during November for an initial programme of 2,000m of
diamond drilling in about 20 holes.  The drill machine is
expected to be on site by end December, with drilling due to
commence early in the new year.  A portable drill machine was
also purchased, capable of core drilling to around 100m, with
the aim of speeding up the  investigation of other properties in
the Mano portfolio which are still at the reconnaissance stage.

In December, the Company was fortunate in being able to confirm
the appointment to its Advisory Board of Professor Bob Nesbitt. 
Currently Head of the Department of Earth Sciences in
Southampton University, Professor Nesbitt has exceptional
contacts and experience in the field of bi-lateral and
multi-lateral funding and will also foster Mano's links with the
University, which in turn has strong links with academic
institutions in Sierra Leone in particular.

Management encourages shareholders and other interested parties
to contact the following individuals at any time for information
about the activities of Mano:

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

P Anthony Rhatigan, Co-Chairman                  UK  0385 297 348

       International  +44 385 297 348

Peter Dwerryhouse, Director UK       +44 (0)1732 464 842

       Canada  +1 (604) 662 373


END

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