Exploration and Market Update HIGHLIGHTS Engenho „h Continued encouragement from ongoing drilling at Crista ¡V due for completion by end of September with initial JORC resource expected by November 2009 „h Focus on progressing Crista towards initial open pit production commencing around July 2010, subject to obtaining approvals „h Further excellent results from surface trench sampling at Olhos, with assays including: 3.3m @ 7.7g/t Au; 6.0m @ 11.4g/t; 3.7 m @ 5.7g/t; 2.2 m @ 3.5g/t and 7.7m @ 7.3g/t „h Annualised gold production expected to increase to 48,000oz per annum including anticipated production from Crista, with the production profile for calendar 2010 expected to be in excess of 40,000 ounces from Engenho and Crista Jaqueira „h Drilling scheduled to commence on 20 September and continue until February 2010 Torrecillas „h Development work along the Torrecillas vein continues to confirm the continuity of the mineralisation and confirm the work previously undertaken. „h The focus over the next 6-8 months will include development work along the Torre Chico and 5 Noviembre veins to confirm the mineralisation on these vein structures „h This will support the logistics required to develop commercial production from multiple vein sources as part of the continued progression towards establishing an annualised production base of approximately 100,000 ounces
MUN Price at posting:
35.6¢ Sentiment: Buy Disclosure: Held
