Ann: Response to ASX Query , page-12

Burey Gold share spike has ASX on the alert
(The West Australian (Perth)) ? 07:17 AM


May 10, 2011 Tuesday
Second Edition

West Africa explorer Burey Gold could cop a further investigation by the sharemarket watchdog after admitting yesterday it was sitting on drilling results when its share price suddenly spiked.

Prompted by the Australian Securities Exchange to disclose whether it was aware of material information that could have triggered a 23 per cent spike in its share price since Friday, Perth-based Burey admitted it was aware of assay results from recent drilling that have not been announced and which, if known, may be regarded as an explanation for recent trading in the company's securities.

Burey added it was not yet in a position to announce the drilling results and therefore decided to place its shares in a trading halt yesterday morning. An announcement is expected today.

By the time Burey placed its shares in the trading halt yesterday, the stock was worth 23.5?, having peaked at 24?. On Friday, the shares traded as low as 19.5?.

Burey's focus is on gold-prospective tenements in Guinea. Its main project is the Mansounia deposit although Burey has also been drilling the Balatindi licence, which it believes is prospective for polymetallic mineralisation including iron oxide, copper, gold and uranium.

Burey has flagged that assays from the first six of a 10-hole drilling program would be announced this month.

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