weekend lounge short term trading: 18-20th oct, page-48

RE: SFX

RECORD DRILL INTERSECTION AT THUNDERBIRD

KEY POINTS

82.5m @ 7.53% HM
-
thickest mineralised intersection obtained to date

This outstanding intersection demonstrates exceptionally thick mineralisation open in the down dip direction beyond the current resource model

Excellent continuity of high grade mineralisation confirmed
by closely - spaced infill drilling

First 20% of assay results received from ongoing 2013 drill programme Mineral sands explorer Sheffield Resources (“Sheffield”) (ASX:SFX) today announced a record drill intersection at its world class Thunderbird heavy mineral sand (HMS) deposit near Derby in the Canning Basin region of
Western Australia.

The record intersection is from the first batch of assay
results to be reported from the 2013 aircore drilling programme.

The results relate to 56 infill drill holes (Figure 1)
and include:

82.5m @ 7.53% HM from 24m (THAC311), including 46.5m @ 9.2% HM from 25.5m

43.5m @ 8.99% HM from 22.5m (THAC188), including 39m @ 9.7% HM from 24m

42m @ 8.01% HM from 3m (THAC187), including 28.5m @ 10.3% HM
from 4.5m

36m @ 8.61% HM from 1.5m (THAC177), including 24m @ 12.1% HM
from 1.5m

46.5m @ 7.55% HM from 14.5m (THAC197), including 28.5m @ 10.7% HM from 28m

The results demonstrate excellent continuity of both the
mineralised sequence and the high grade zones

Significantly, the interval of 82.5m @ 7.53 % HM in drill hole THAC311 is the best received from Thunderbird to date in terms of both thickness and contained heavy mineral.

This intersection occurs on the southwest margin of the current resource model and demonstrates exceptionally thick mineralisation which is open down dip to the southwest .

Managing Director, Bruce McQuitty said:

"Thunderbird continues to surprise on the upside. The 82.5 metre thick interval is a spectacular result, far surpassing the previous thickest interval of 52.5 metres. It further underscores Thunderbird’s key attributes of very large size, high grade and favourable geometry.”

“Notably, this intersection is located at the edge of last year’s resource, and has the potential to significantly extend the resource in this area.”

“We look forward to announcing further drilling results from the deposit, leading to a revised resource estimate scheduled for the end of the year.”

“In the interim, we continue to progress the Thunderbird Scoping Study which will be completed post a resource upgrade scheduled for Q4 2013, incorporating the results of the current drilling programme."