CHARIOT GOLD DEPOSIT BULKS 'UP AT DEPTH

CHARIOT GOLD DEPOSIT BULKS 'UP AT DEPTH
Giants Reef is pleased to report a further significant result from its pre-production drilling program
at the Chariot gold deposit. Assays results confrm mineable widths in excess of ten metres true
thichess in the main ore shoot.
A new deeper intersection to hand from hole CHRD 120A at approximately 270 metres in depth
contained:
19.1 metresat lO.Og/tAu
The intersection equating to a true ore thickness of 12.6 metres. The ore width is a further increase
on the previous widest intersection announced last week from hole CI-IRD 116A of 13 metres at
17.5dt Au for a true ore thickness of 8.6 metres at approximately 220 metres in depth.
Increases in ore reserves can be expected due to the wider ore intersections. More significantly, the
new drilling results indicate the robustness of the ore shoot near the base of known ore body. The
ore bodyremains open at depth and to the west. Further deep drillingbeyond the depth of the
current program is planned t o be completed from underground following the establishment of drill
platforms from production drives. Location details for hole 120A are tabled below.
An updated ore resource estimate is currently being computed and will be released when it comes to
hand in approximately one week.
Drill Hole Table Jntersection
Hole no l start I Finish
10.0 12.6 19.1 CHRD 120A 1 315.4 I 334.5
Grade True Width LenDh
1 metres I luelres g/tAu metres Incwcs
Drill Hole Table Location
Hole NO 1 Easting Grid I NorthinE Grid I Inclination (Degrees)
CHRD 12OA 1 5584.2 I 3140.4 I -GO I 183.5
I Azimuth (Degrees)
Peter N Smith
Chief Executive Officer
1 lth July 2002
Note: the infomlation in this reporl has bccn colnpilcd by Mr Peter Simpson and Mr Craig Imine who are members of
the Australasian Institute of Mining &Metallurgy and have a minimum OF hvc years cq~cricncc in thc ficld ofaclivily
bcing reponed on. This report accurately reflects the information compiled by these persons.

I hold the options

Regards

Desmond