RNS Number:1134R
Reefton Mining N.L.
21 October 2003


                               REEFTON MINING NL
                          ("Reefton" or the "company")

                                Re 2003 OPTIONS

Reefton Mining NL presently has on issue 106,920,392 ASX-listed options,
exercisable at $0.20 (twenty cents) on or before 5pm WST on 30 November 2003
(2003 Options).

The company advises that the 2003 Options are due to expire on 30 November 2003.
2003 Options that are not exercised by the payment of $0.20 per option and
accompanied with an Option Exercise Form before 30 November 2003 will result in
their expiry.

The last day for quotation of the options will be 24 November 2003, being five
business days before their expiry date.

The latest available market price for fully paid ordinary shares in Reefton
Mining NL was $0.056 on 20 October 2003. In the previous three months the
highest market price for the fully paid ordinary shares has been $0.065 recorded
on 22 September 2003 and the lowest market price has been $0.045 recorded on 31
July 2003.

The latest available market price for partly paid ordinary shares in Reefton
Mining NL, which were issued at 7 cents and paid to 1 cent on application, was
$0.02 on 17 October 2003. In the previous three months the highest market price
for the partly paid ordinary shares has been $0.024 recorded on 22 September
2003 and the lowest market price has been $0.014 recorded on 1 September 2003.

In view of the above, and in consideration of preserving shareholder funds, the
Company has been granted a waiver from complying with Appendix 6A(6) of the
Listing Rules of Australian Stock Exchange Limited and accordingly an expiry
notice will not be sent to holders of 2003 Options.




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

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