"As previously advised, the Company is preparing a resource upgrade report to an Indicated Mineral Resource status under JORC 2012 which will give the basis to start project development
at the South Johnstone Bauxite project.
The resource report has been reviewed by a bauxite specialist Independent Consultancy group,
and a number of modifications were recommended as a result of the review. These are being
made and the Company expects to complete these changes over the weekend.
Concurrent with that review and as a result of the increased confidence level due to the new
information and data to hand, the Company is also preparing an Exploration Target upgrade for
the South Johnstone Bauxite Project which will also be released with the Resource Upgrade
announcement."
