RNS Number:8409S
Golden Prospect PLC
03 December 2003

                              Golden Prospect plc

                Exercise of Warrants - Mano River Resources Inc.
           Sonfon Gold Joint Venture with Golden Star Resources Ltd.
                                  Market Value

The Board of Golden Prospect plc is pleased to announce the following items:

Exercise of Warrants - Mano River Resources Inc.

Golden Prospect plc converted recently 1,250,000 warrants held in Mano River
Resources Inc. at 3p per share for ordinary shares.

Sonfon Gold Joint Venture with Golden Star Resources Ltd.

A comprehensive Letter of Arrangement has been signed by Mano River Resources
Inc. with Golden Star Resources Ltd for a proposed gold Joint Venture over three
licence packages, which are within the highly prospective greenstone gold
bearing belts in Sierra Leone.

Golden Prospect's Sonfon North Exploration Licence and the Sonfon South
Exploration Licence of Mano River Resources Inc., which are the subject of an
existing Heads of Agreement, form one of the licence packages of the Letter of
Arrangement.

The two contiguous licences have a total area of 256 sq. km. and lie across the
northern end of the Sula Mountains greenstone belt. The Sonfon district is one
of Sierra Leone's richest and most prolific historic gold fields. As previously
announced, work on the Sonfon licences has defined a 3km long by 0.3km wide gold
anomaly and identified drill targets within a high grade gold-bearing stockwork
vein system beneath the anomaly, with a best trench intersect of 7.3m @ 7.4 g/t
gold. (see the Golden Prospect web site www.goldenprospectplc.com and the Mano
River Resources web site www.manoriver.com for information on the licences and
details of the proposed Joint Venture).

The proposed Joint Venture Agreement remains subject to regulatory approval and
definitive documentation.



Market Value

As at 30 November 2003, the unaudited value of the quoted investment portfolio
and cash resources amounted to circa #38 million, equivalent to 42p per share,
excluding its unquoted mineral exploration assets. This value shows a
significant increase from the equivalent value at 30 September 2003 of 34p per
share. The Golden Prospect plc share price at the close of business on 30
November 2003 was 32.25p.

The unquoted assets, which are represented by joint venture agreements with AIM
listed companies, Mano River Resources Inc, (gold, see above) and Jubilee
Platinum plc (platinum) are still being advanced and the board considers that
additional value could be unlocked from these ventures.



Enquires:

N. A. Steinberg
Finance Director

Tel: 020 7845 7500


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