report, page-2

I am still expecting some good news in relation to their nickel.

In the chairman's address they stated:
Eagle Eye’s aggressive exploration focus at the Waite Kauri nickel oxide project near Leonora in Western
Australia has resulted in achieving significant progress and recently completing an additional 53 air core holes at
the project. Assay results are very encouraging and support previous mineralised depths and grades
encountered at the deposit.
A. Wanaka
The Wanaka prospect is located immediately along strike to the south of the GME Resources Ltd’s Waite Kauri
nickel oxide deposit (1.30 Mt @ 1.33% Ni and 0.14% Co).
The holes 007WKAC 142 to 183 were drilled at the Wanaka prospect during the previous quarter for a total of
486 metres. Significant results achieved in this programme include:
007WKAC150 3 metres at 0.57% Ni, 0.020% Co and 4.34% Mg from 3 metres
007WKAC152 4 metres at 0.57% Ni, 0.040% Co and 4.75% Mg from 9 metres
007WKAC153 15 metres at 0.59% Ni, 0.054% Co and 5.11% Mg from 13 metres
007WKAC156 17 metres at 0.75% Ni, 0.032% Co and 7.68% Mg from 1 metre
007WKAC157 23 metres at 0.67% Ni, 0.019% Co and 6.82% Mg from 4 metre
007WKAC158 2 metres at 0.56% Ni, 0.041% Co and 2.55% Mg from 12 metres
007WKAC159 11 metres at 0.83% Ni, 0.042% Co and 2.89% Mg from 6 metres
Including 2 metres at 1.47% Ni, 0.089% Co and 3.77% Mg from 6 metres
007WKAC160 4 metres at 0.64% Ni, 0.088% Co and 2.74% Mg from 12 metres
007WKAC168 15 metres at 0.61% Ni, 0.033% Co and 5.71% Mg from 5 metres
007WKAC175 15 metres at 0.59% Ni, 0.025% Co and 5.95% Mg from 3 metres
007WKAC180 6 metres at 0.76% Ni, 0.021% Co and 2.90% Mg from 5 metres
007WKAC182 11 metres at 0.60% Ni, 0.027% Co and 9.28% Mg from 2 metres
B. Kaikoura
Drilling at the Kaikoura prospect targeted a surface geochemical anomaly with the dimensions of 400 metres
strike and widths up to 100 metres. A total of 11 vertical holes were drilled (007WKAC 131 to141) for 385
metres. Assay results have confirmed the initial geological interpretation with significant intersections of
mineralisation up to 37 metres vertical depth being intersected at the Kaikoura prospect. An open body of
mineralisation has been delineated at Kaikoura with the dimensions of 150 metres strike, 75 metres wide with an
average vertical depth of 25 metres. This body is open to both the north and south.
007WKAC135 37 metres at 0.67% Ni, 0.054% Co and 4.34% Mg from 8 metres
007WKAC138 13 metres at 0.73% Ni, 0.060% Co and 4.47% Mg from 19 metres
007WKAC139 28 metres at 0.68% Ni, 0.082% Co and 2.89% Mg from 17 metres
Following the successful completion of the initial RAB programmes at Waite Kauri nickel oxide project, a 2500
metre reverse circulation drilling programme has been planned and will be implemented in early 2008.

I am holding on to my shares like every one else (hardly no sellers under 11.5cents) and look forward to the announcements of future drill results.

Hematite