RNS Number:4972J
Thistle Mining Inc.
01 April 2003







              SUCCESSFUL COMPLETION OF THE OFFER FOR PS GOLD MINES

                       ON THE JOHANNESBURG STOCK EXCHANGE





Toronto, 1st April 2003.  Thistle Mining Inc. (TSX:THT and AIM:TMG) wish to
announce that the Company has received acceptances to its offer as at the
closing date of 28th March 2003, representing a total of 487,302,711 shares,
which is 96.8% of the issued capital of President Steyn Gold Mines Limited
(known as PS Gold) on the Johannesburg Stock Exchange.



Thistle will now commence the process to compulsorily acquire the balance of the
PS Gold shares on issue, under the terms of Section 440K of the Companies Act in
South Africa.



PS Gold has a US$ 3.25 million convertible loan note outstanding, which is
convertible into 20.8 million shares of Thistle Mining Inc.  In addition, PS
Gold is entitled to a royalty of US$ 8 per ounce until January 2007 based on all
gold produced at the Steyn mine complex



Commenting on the outcome; Willie McLucas, President and CEO said "It is
beneficial to be able to reduce our operating costs in South Africa in this way
taking together the saving on interest costs and the amount of the royalty
payable".









For further information contact:



Willie McLucas

President and CEO

+ 44 131 557 6222



or



Harvey McKenzie

Chief Financial Officer

+ 1 416 594 3293


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