Petmin - Further information

Petmin - Further information                                                    
PETRA MINING LIMITED                                                            
(Incorporated in the Republic of South Africa)                                  
(Registration number 1972/001062/06)                                            
Share code PET   ISIN ZAE000010237                                              
("Petmin" or "the Company")                                                     
FURTHER INFORMATION REGARDING THE SAMQUARZ (PTY) LTD ACQUISITION, TRADING       
UPDATE AND CAUTIONARY ANNOUNCEMENT                                              
Petmin is pleased to inform its shareholders that, save for the formal          
approvals by the  Securities Regulation Panel, the JSE Securities Exchange      
South Africa ("JSE") and the shareholders in general meeting, the conditions    
precedent for the acquisition of SamQuarz (Pty) Ltd as announced in the         
financial press on 29 March 2004 have been fulfilled. The circular to           
shareholders containing all information relating to the acquisition and         
convening a general meeting of shareholders to vote on the acquisition is       
currently being finalised and will be issued to shareholders in due course.     
Following the audit of the annual financial results by the Company"s auditors,  
for the year ended 30 June 2004, shareholders are advised that Petmin"s         
results in relation to earnings and headline earnings for the year ended 30     
June 2004 will be substantially lower ("substantially" being a decrease of      
equal to or greater than 30% as defined in the JSE Listings Requirements),      
when compared to the prior comparative period.                                  
The reason for the decrease in earnings and headline earnings is that Petmin    
was, after selling all of its gold mining operations during the previous        
financial year, a cash shell during the 2004 financial year and its only        
income was derived from interest earned on cash deposits.                       
The Petmin board is presently finalising their review of the Company"s results  
for the year ended 30 June 2004. Shareholders are accordingly advised to        
exercise caution when dealing in the Company"s securities until the results     
are published on or about 31 July 2004.                                         
Johannesburg                                                                    
26 July 2004                                                                    
Sponsor                                                                         
River Group                                                                     
Date: 26/07/2004 05:48:26 PM Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department