Ann: Drillhole Completed at Aphrodite IOCG Target, page-11

re: Ann: Drillhole Completed at Aphrodite IOC... 12 November 2010
The Company Announcements Office
Australian Securities Exchange Limited
Diamond drilling starts
at Mt Tarrengower gold prospect, Victoria
HIGHLIGHTS:
?X A diamond drill programme on Lisle??s Reef at the Mt Tarrengower gold prospect at Maldon
has started
BACKGROUND:
Minotaur Exploration Limited (??Minotaur??, ASX: MEP) recently entered into an Option Agreement1
with ASX listed Mining Projects Group Ltd (ASX: MPJ) to explore and, at Minotaur??s election,
subsequently acquire Xplor Pty Ltd (??Xplor??), a wholly owned subsidiary of MPJ. Xplor is the
owner of Victorian exploration licence EL 4533 at Mt Tarrengower, Maldon, and mining licence
MIN 4683, ??Golden Mountain??, near Bonnie Doon.
LISLE??S REEF MINERALISED STRUCTURE AT MT TARRENGOWER:
The Mt View/Lisle??s Reef area near Maldon historically produced about 68,000 ounces of gold to
a depth of 60 vertical metres from a number of shafts and workings along a mineralised ridge line
extending for over 1km up to the summit of Mt Tarrengower.
Rock chips taken across Lisle??s Reef veins and quartz stockworks, as recently reported2,
returned numerous anomalous gold values, with the most significant values being 56.4 g/t Au and
11.2 g/t Au. These results guided Minotaur??s design of a new diamond drill programme to test
depth potential for extension of the Lisle??s Reef structures.
A 2 hole campaign has started, initially to test for structural locations between 50m and 200m
below surface and, if successful, may be extended to a third hole to test at depth for quartz reef
orientations analogous to the nearby Oswalds-North British mine. The hole design is depicted
schematically in Figure 1.