Price Waterhouse and Bre-X

As stated in the News Release by Bre-X (Vol 97 No. 22 dated May 4, 1997), Price Waterhouse along with Forensic Investigative Associates, and other firms, have been retained by Bre-X to assist the company in determining how "the data on which Bre-X relied in its prior public statements about Busang could have been generated."

Contrary to the information contained in press reports on May 9, 1997, neither Price Waterhouse in Canada nor the Indonesia correspondent firm of Price Waterhouse are auditors of Bre-X Minerals Ltd or any member of its group of companies.

PAUL R CARTER

Price Waterhouse Senior

Technical Advisor

to PT Price Waterhouse Sutanto

Jakarta