waiting for iron ore drill results......, page-10

As I said the drilling is nothing to get excited about, too deep and the seam to narrow. But don't worry management will manage to spend all the profits.

Australian iron ore producer Territory Resources Limited (ASX: TTY Territory or the Company) is
pleased to advise that an initial program of Reverse Circulation (RC) drilling has been completed at the
McCarthy Hill prospect, located 25 km south-east of its 2 Mtpa Frances Creek Iron Ore Mine in the
Northern Territory.
The program of 31 drill holes for 2610 metres was completed earlier this month and intersected
hematite-rich iron mineralisation over 500 metres of strike in a structurally complex region, within a
stratigraphic geological sequence similar to that at the Frances Creek Mine.

The RC drilling program tested a limited strike extent at the McCarthy Hill Prospect due to Aboriginal
heritage restrictions. While the Company has worked closely with the Traditional Owners, Custodians
and the Aboriginal Areas Protection Authority (AAPA) to allow for access to the region, the first pass
was restricted to a small area of the extensive tenement.
Given these constraints, Territory is encouraged by the results from the recent drilling program,
particularly considering that there is an additional 10 km strike length of prospective horizon within the
tenement.
The McCarthy Hill tenement (EL22440) remains one of Territorys priority regional exploration targets
in the Frances Creek area due to the presence of significant indications of high-grade hematite
mineralisation similar to that at Frances Creek.