Below is a Media Release detailing new marketing initiatives and the appointment of Mr Richard Cottee as a project consultant.

Mr Cottee has agreed to accept 250,000 fully paid shares in the Company in lieu of consulting fees.


MEDIA RELEASE

9th September 2002

STRONG NEW EUROPEAN INTEREST IN MONTO PRODUCTS

QUEENSLAND based mining company Monto Minerals has received strong interest from European manufacturers, for the Goondicum Crater's expanded range of products and a specialist consultant has been appointed to the Board to assist in expediting the project.

Company Director Geoff Moore has recently returned from a trip to Europe, as the company continues to determine the international market for products from its Goondicum Crater project, 90 kilometres west of Bundaberg in Queensland.

"Meetings were conducted with large ceramics and pigment manufacturers and the feedback we received was very positive," Mr Moore said.

"We will continue detailed discussions with these potential ilmenite and feldspar customers, in an effort to secure price and tonnage commitments, subject to successful plant trials."

The trip follows a similar marketing exercise throughout Asia, which created strong interest from 15 manufacturers for Goondicum Crater feldspar.

Executive Chairman Peter Slaughter said the Board of Monto Minerals made the decision to determine interest in the expanded product base in order to extract maximum value from the project.

"Strong interest from potential European customers confirms the prospects for developing the Goondicum Crater Project as a viable multi-product operation," Mr Slaughter said.

Respected resources sector figure Richard Cottee has been retained as a consultant to the Board of Monto Minerals and will assist the company in expediting the commercial aspects of the project.

Mr Cottee has broad experience in the resource and electricity sector and was Chief Executive Officer of CS Energy until August 2001. He recently returned from London where he was working for NRG, the biggest American independent power producer.

"Richard has a well-deserved reputation for bringing projects to production through his commercial and financial expertise and this will be his prime focus over the next two months," Mr Slaughter said.


For further information please contact Peter Slaughter or Geoff Moore on (07) 5574 3999, or Colleen Daly from Spin Business Solutions on 3251 8127 or 0419 715 766.