December 12, 2003

• Vermiculite sales initiatives expedited due to high demand for initial production run

Toronto, Ontario December 12, 2003: Bob Borrowman, General Manager Vermiculite Division of Hedman Resources Limited (Hedman - HDM: TSX.V) is pleased to announce the placement of a "Letter of Intent" in which Perlite Canada Inc. hopes to purchase the first 4000 tons of horticultural grades of vermiculite ore from Hedman's soon to be acquired mining and processing facilities.

"Underwriters Laboratory approval and all preliminary testing of the vermiculite ore is extremely promising," says Claude Taillefer, Hedman's Senior Vice President of Production and Sales. "Perlite Canada Inc. will be provided with our existing data and suitable samples in order to facilitate its internal testing procedures. We have every confidence that the reports and findings of P.A.R. Brown and Dr. Hindman will be confirmed without incident and that our product will not only meet the rigorous standards of Perlite, but that we will be finalizing purchase orders very soon. I am very confident that our vermiculite will meet with Perlite's exacting standards and that its testing will be uneventful, but most encouraging to both our companies."

"We are delighted to become a Canadian source of vermiculite ore that companies like Perlite will be able to rely upon for competitive pricing, consistent quality and reliable supply. We look forward to concluding a formal agreement with Perlite for its immediate benefits and as the foundation for a long and mutually rewarding relationship."

"Of course, Hedman must first complete its purchase of the mine and related facilities from Cardib," cautions Mr. Borrowman. "This Letter of Intent will go a long way to ensuring that we not only complete the acquisition, but also meet our projected sales targets as recently announced in press releases. This Letter of Intent alone, if translated into a purchase order at today's rates, will generate revenues of approximately $800,000 Cdn. for our company. We expect to do even more business with this important and valued Canadian customer in the years ahead."

About Perlite
Perlite Canada Inc specializes in the production, transformation and marketing of crude and expanded
perlite and vermiculite. It is the only completely integrated company of its kind in Canada. Perlite Canada Inc has head office facilities located in Saint-Laurent Quebec, with manufacturing plants located in Baiedu
Febvre Quebec and Lameque New Brunswick.

About Hedman
Hedman Resources Limited, based in Toronto, Ontario, produces a unique line of industrial mineral products for the global friction, plastics, and building industries. The company's main product is NorthfilTM, non-toxic, environmentally safe, heat-and abrasion-resistant industrial filler, whose properties make it an
attractively priced alternative to asbestos and other less-durable mineral fillers. The Northfil newly developed line of treated products now offers the plastics industry a new and superior alternative to current fillers being used. Hedman is developing and marketing products derived from Northfil, such as FirefeltTM, which is designed for the building products industry. Hedman processes Northfil, using a proprietary technology, at its Matheson, Ontario facility. Hedman’s also produces and sells vermiculite, a low density, biologically inert product with a chemically active surface used as an additive, filler, absorbent, fertilizer and soil cover in a number of industry end-user applications.
Additional information on Hedman is available at the company’s website at www.hedmanresources.com.

This document may contain certain forward-looking information and statements concerning the company’s operations, performance, and financial condition, including, in particular, the likelihood of the company’s success in developing and expanding its business and obtaining significant contracts. These statements are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Errors and omissions excluded.

FOR FURTHER INFORMATION PLEASE CONTACT: Hedman Resources Limited, Bob Borrowman, (416) 630-6991, sales@hedmanresources.com

The TSX Venture Exchange has not reviewed and does not accept, responsibility for the adequacy or accuracy of this release.

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