Ann: Kalkaroo Project Drilling Update , page-2

Have to say I am disappointed by the lastest grades at KKDD411 and 412. I am on record as expecting higher grades from both of these drill holes, given this was drilled at the West Kalkaroo end where the higher grades have previously been seen in the main Kalkaroo orebody drilling.

To clarify, disappointed. Not gutted. The glass is still half-full rather than half-empty!

Increasing gold and copper prices I believe will help HAV shareholders, both in the short-term and longer-term.

By the time we are mining at Portia, I expect gold prices to be over US$2,000/oz.

Cheers