News Releases

May 15, 2001
Results For The Year Ended March 31, 2001
TORONTO, CANADA -- TRANS HEX INTERNATIONAL LTD. (CDNX: THI) today announced the results from its operations for the fiscal year ended March 31, 2001.

At Barra Grande, Brazil processing of 31 samples has been completed. A total of 28 diamonds, weighing 14.90 carats, were recovered from level 5, the one-metre thick interval within the seven-metre thick gravel horizon with the highest heavy mineral content. This represents an average grade of 0.61 carats per 100 bank cubic metres and an average stone size of 0.53 carats. Although commercial grades are not yet being achieved, the results indicate a reasonably large average stone size with all stones recovered to date being of gem quality. The joint venture has determined that treatment of samples from Villa Barroso will continue on further levels until the end of June, whereupon a smaller sample will be excavated to test the northern, Queixada site. A revised schedule indicates that results for these samples should be available in November 2001. Full results from the sampling program at the Barra Grande project are set out in a press release dated May 14, 2001.

The sampling of several sites at the Swallow Breakers feature, on the Skeleton Coast of Namibia, to evaluate targets generated by the geophysical survey is expected to commence later this month using the sampling vessel and divers of Trans Hex Group Limited. At Northbank, Namibia the Company continues to pursue recognition of its rights in the dispute with the landowner over surface access. A hearing of the High Court of Namibia that began in February 2001 was adjourned until August 2001, when a full month has been set aside. The Company has on several occasions endeavoured to settle this dispute by direct negotiation with the landowner, without success. Once work is resumed on the property, which contains a drill indicated gravel resource of 30 million cubic metres within a 450 hectare terrace deposit, an aggressive 12 month excavation and treatment campaign is planned that will provide sufficient data on diamond grade and value to determine the feasibility of further bulk sampling and development of the project.

As at March 31, 2001 the Company had working capital (excluding an amount of $0.8 million owed to its parent company, Trans Hex Group Limited) of $1.2 million (2000: $1.4 million). Long-term debt of $2.7 million (2000: nil) was due by the Brazilian ($2.5 million) and Namibian ($0.2 million) subsidiaries, to Trans Hex Group in terms of project finance loan agreements concluded for the funding of the Barra Grande and Northbank projects. Further facilities of US$1 million and US$0.3 million respectively, have been approved for fiscal 2002, to be drawn down by the Company as required. These loans are repayable out of up to 75% of the initial surplus cash received from the projects. Repayment will firstly be applied to the outstanding capital and secondly, to the extent that additional surplus cash is available, towards interest calculated at LIBOR. The loss for the year ended March 31, 2001 amounted to $1.1 million (2000: $0.9 million) or 7 cents per share (2000: 7 cents per share). General and Administration expenses for the year amounted to $0.9 million (2000: $0.8 million).

Trans Hex International is an international diamond exploration company with interests in exploration projects and joint ventures in Brazil, Namibia, Botswana and Zimbabwe. The principal shareholder of the Company is Trans Hex Group Limited, a South African producer of high quality gem diamonds, with well established independent diamond marketing facilities. The design and conduct of the Company's exploration programs is the responsibility of Mr. Peter Walker, a professional geologist registered with the South African Council for Natural Scientific Professions.


FOR FURTHER INFORMATION PLEASE CONTACT:
D.M. (Niel) Hoogenhout - Chairman and C.E.O.
Tel +1.416.363-5440 Fax +1.416.363-6506
E-Mail nhoogenhout@transhex.com

Peter D. Danchin - Chief Operating Officer
Tel +27.21.939-1105 Fax +27.21.939-0711
E-Mail PeterD@transhex.co.za

Peter W.A. Walker - Vice President, Exploration
Tel +27.21.939-1105 Fax +27.21.939-0711
E-Mail PeterW@transhex.co.za

Stephen Woodhead - Chief Financial Officer
Tel +1.416.363-5440 Fax +1.416.363-6506
E-Mail swoodhead@transhex.com
COREBOX
Tsodilo Resources Limited
Canada Trust Tower, BCE Place
161 Bay Street, P.O. Box 508
Toronto, ON Canada M5J 2S1
Telephone: (416) 572-2033
Fax: (416) 987-4369
Website: www.TsodiloResources.com/
Email: