ann. magnetite deposit looking good

BUNGALOW MAGNETITE DEPOSIT -
PRELIMINARY DRILLING RESULTS

Highlights o Centrex Metals recently completed a four (4) hole diamond drill program to further test the ca. >250 million tonne exploration potential (to a vertical depth of 200m) of the Bungalow magnetite deposit. o The diamond drilling intersected down hole widths of up to 200m of strongly magnetic banded iron formation. The broad magnetite horizon is estimated to have a true width of approximately 80m and is open at depth. o Core logging has indicated structural thickening due to folding which has further substantiated the potential for improved resource tonnage and potential project economics. o Lithological logging has interpreted the mineralisation to be dominantly quartz magnetite BIF which includes zones of massive magnetite up to 2m in thickness. _____________________________________________________________________________