conditional farm in agreement , page-16

6 December 2007

Company Announcements Office
ASX Limited
By e-Lodgement
Dear Sir/Madam
CONDITIONAL FARM-IN AGREEMENT - EL3812 and EL3813
The Company advises that it has received an initial non-refundable option fee of A$50,000 in
relation to a conditional farm-in agreement over EL3812 and 3813 in South Australia with
Copper Road Inc. (CRI) A further A$50,000 non-refundable option fee is due and payable.
The farm-in agreement is subject to and conditional upon:
·
CRI obtaining conditional approval to be admitted to official quotation on the OTC
Bulletin Board market; and
·
CRI preparing a prospectus and completing an initial capital raising up to $2 million.
Under the terms of the agreement, CRI must spend $2 million to earn an initial 40% interest in
the joint venture within the first 2 years. CRI may elect to spend a further $3 million for an
additional 40% interest (total 80%) within the following year after the initial interest.
The Company will announce further details when the conditions are satisfied or waived or if the
agreement does not proceed.

Yours faithfully
Gary Steinepreis
Director