EXHIBIT 99.2


                                           May 5, 1997


Bre-X Minerals Ltd.                VIA FAX NO. (403) 543-7060
119 14th Street N.W.
Calgary, Alberta
Canada  T2N 1Z6

     Attn:     David G. Walsh
               Chairman, President and CEO

PT Askatindo Karya Mineral         VIA FAX NO. (62) (21) 829-4013
Complex Gudang Peluru Block D/118
Tebet, Jakarta Selatan
Indonesia

     Attn:     President Director

PT Amsya Lyna                      VIA FAX NO. (62) (21) 829-4013
Complex Gudang Peluru Block D/118
Tebet, Jakarta Selatan
Indonesia

     Attn:     President Director

Gentlemen:

     Reference is made to the agreement entered into effective as
of February 26,  1997 among Freeport-McMoRan  Copper & Gold  Inc.
("FCX") and  each of  you regarding  the proposed  development of
mineral resources in East Kalimantan, Indonesia, and to Amendment
Number One thereto entered  into effective as  of April 30,  1997
(such agreement as so amended, the "Agreement").

     FCX has performed the  activities contemplated by Section  3
of the Agreement, but has been unable to confirm the existence of
one or more commercially viable  gold or other mineral  resources
in the areas covered by the  Agreement.  Accordingly, FCX  hereby
terminates its participation  in the  activities contemplated  by
the Agreement.

                                   Very truly yours,

                                   /s/Richard C. Adkerson
                                   ----------------------
                                   Richard C. Adkerson
                                   President and
                                   Chief Operating Officer

cc:  Rolando C. Francisco - VIA FAX NO. (403) 543-7060
     Executive Vice President and
     Chief Financial Officer
     Bre-X Minerals Ltd.