RNS Number:3084R
Capricorn Resources PLC
24 October 2003


                    Capricorn Resources Plc ('the Company')

       Issue of warrants to subscribe for Ordinary Shares at 1p per share
                                       &
                               Grant of Options


The Company issued an announcement on 22 October 2003 at 16.09 under RNS number
1989R.  The announcement contained certain inaccuracies which are set out below:

The total number of warrants issued to directors is 40,100,000 not 41,000,000,
Mr P.H. Edmonds has received 9,100,000 warrants and 4,025,000 options and not
10,000,000 warrants and 3,125,000 options as previously stated.

Certain other information was omitted.  This information is included in the full
corrected version of the announcement which is set out below:




Capricorn Resources Plc, the AIM listed mining and exploration company, at a
Board meeting held on 3 October 2003 resolved, in recognition of the efforts of
the Directors and to facilitate the issuing of warrants to locals in the
Company's area of operations (EPN scheme), the issue of 40,100,000 warrants.

The following warrants are to be issued pursuant to the agreement as follows.

A. S. Groves                                         16,000,000
P. H. Edmonds                                        9,100,000
R. B. Rowan                                          2,500,000
B. M. Moritz                                         2,500,000
EPN                                                  10,000,000


Each warrant will grant the holder the right to subscribe for one Ordinary share
at the price of 1p, such right to be exercisable between at any time up to 31
March 2008.

Each of the Directors has agreed with the Company that he will not dispose or
otherwise deal in these warrants, except in certain specified circumstances,
until such time as the Company's ordinary shares have been quoted on AIM at 5p
per share, or more, for at least 10 consecutive business days. Furthermore, each
Mr Rowan and Mr Moritz has agreed to waive any right to fees or remuneration
from the Company for a period of 2 years from 18 February 2003, the date of
admission to trading on AIM.

Application has been made for the 40,100,000 warrants to be admitted to trading
on AIM. Admission is expected to take place on 27 October 2003.

Furthermore it was resolved that, pursuant to the Company's Option Scheme
adopted on 23 December 2002, the following options would be granted at market
price, being 1.5p per Ordinary Share, to be exercisable during the period
between the date of grant and the fifth anniversary thereof, that option
certificates in respect of such options be issued and that the names of the
grantees be entered in the register of option holders:

A. S. Groves                                         3,125,000
P. H. Edmonds                                        4,025,000


The above transactions are deemed related party transactions under the AIM
Rules.  Grant Thornton (the Company's nominated adviser) considers that the
terms of the transaction are fair and reasonable insofar as shareholders are
concerned.



Contacts:

Gerald Beaney           Grant Thornton                      Tel: 0870 991 2589
Phil Edmonds            Capricorn Resources Plc             Tel: 020 7224 2522
Hugo de Salis           St Brides Media & Finance Ltd       Tel: 020 7242 4477


24 October 2003


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