EAST COAST MINERALS NL                        2002-03-01  ASX-SIGNAL-G

HOMEX - Sydney                                                        

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SILVER TAILINGS DAM

EAST COAST MINERALS NL 70% / LEGEND MINING LIMITED 30%

The Directors of East Coast Minerals NL are pleased to announce that
the Company has received its second instalment of $700,000.00 plus
GST from MKS Capital Limited (MKS).

The deal was originally announced to the Australian Stock Exchange on
2 October 2001, whereby MKS part of an International precious metals
trading group purchased the Tailings Dam for $3.1 Million from the
Joint Venture Partners in the proportions of 70% East Coast Minerals
NL 30% Legend Mining Limited.

L White
CHAIRMAN