announcement out

Nickel Laterite Resource Estimate

Resource Mining Corporation (RMC) is please to announce the completion of the nickel
limonite and saprolite resource estimation for the Wowo Gap Ni-Co Project in PNG.

The Inferred JORC compliant resource estimate quoted to the appropriate level of precision
is:

200 million tonnes @ 0.83% Ni, 0.07% Co

Representing 1.7 million tonnes of contained nickel.

This represents a significant volume increase from the previous 2006 resource estimate
following the completion of 83 kilometres of ground penetrating radar (GPR) and 47 diamond
drill holes in 2007, which successfully defined the depth extent of the limonite and saprolite
profiles within the mineral resource. The resource estimate is reported using a lower cut off
grade of 0.5% Ni and a dry bulk density of 1.5t/m3.

The decrease in the nickel grade in comparison to the
2006 estimate is primarily due to the lower cut-off used
but also the inclusion of the core stones in this resource
estimate, where as the grade from the 2006 estimate
was calculated from the soft saprolite and limonite
material only. Core stones are boulders of unweathered
ultramafic rock which are common within the saprolite
profile (Figure 1), and typically range in grade between
0.25% to 0.35% Ni. The estimated volume of core
stones within the lateritic profile is 36%, based on
geological logging of the diamond core.

The two weathering zones; the limonite zone and the
saprolite zone were interpreted on the basis of
geological logging and multi-element geochemistry and
compared favourably to the profiles mapped by the
GPR.

A detailed breakdown of the resource is provided below:

Material Million Tonnes Ni % Co %
Limonite 120 0.85 0.09
Saprolite 80 0.80 0.05
Rounding may introduce computational errors

Figure 1: Laterite Profile at Wowo Gap
showing core stones in the saprolite.
Resource Details

The resource estimate was undertaken by RMC geologists in Perth. The resource for Wowo
Gap has been estimated using, 14 GPR profiles spaced on 400 metre lines across the
resource area, 47 NQTT diamond holes drilled in 2007, 26 HQTT diamond holes and 70
wacker holes drilled in 2004 (Figure 2).

The mineral resource ore block model has been developed from the topography, limonite and
saprolite surfaces as interpreted from the GPR profiles.

Both an inverse distance squared and a nearest neighbour estimation techniques were used
to developed the model grades and tonnage. Grade estimations are based on one metre
composites from 142 drill holes with an average drill spacing of 400 metres. Both the inverse
distance squared and a nearest neighbour resource models report similar grades and tonnes
at the appropriate levels of precision.

The estimate is based on all drill hole assay data as of 5th February 2008 and covers a total
strike length of 6 km. Classification of the estimate as Inferred was based on drill hole density,
assay data, geological confidence criteria and the bulk density estimation.