company update

ASX Release
Page 2 of 2
Raptor Spin-Out
Due to the recent share market volatility the Board has decided not to proceed with the spin out of
Raptor Minerals Limited (NSW and Peru Exploration assets) at this time.
Company Name
We have received confirmation from the Australian Securities and Investment Commission (ASIC)
that registration of our application to have the name of the company changed from Compass
Resources NL to Compass Resources Limited has been granted.
Sulfide Resources
The updated resource estimates for Browns and Browns East Sulfide mineralisation resulted from
extensive infill drilling aimed at improving the status of the resource from mostly inferred to greater
proportions in the measured and indicated categories. This was necessary to bring the resources to
the confidence level needed for the Sulfide Definitive Feasibility Study (DFS). Mine scheduling in
the DFS will be such that the higher-grade resources at Browns will most probably be mined first.
The total resource in Browns increased, while the total resource in Browns East, which was
previously wholly in the inferred category, decreased. The DFS drilling completed in Browns East to
date has allowed a significantly better estimate to be made with better understanding of thickness of
mineralization. Significant faulting at the eastern end could be a limit on total Browns East
resources but more drilling is required to determine actual resources. The company is also yet to
make a resource estimate for the uranium that has been encountered in the continuing Browns East
drilling
Browns and Browns East both remain open at depth.
The potential for further sulfide and Uranium mineralisation on the company’s tenements remains
high with less than 50% of the Whites Formation/Coomalie Dolomite Contact within the tenements
having been tested. As the requirements for resource definition drilling for the DFS are satisfied,
more exploration effort will be transferred to regional exploration work and testing of the Contact.
Sulfide resources are present at Area 55, and high grade sulfide mineralisation has been previously
intercepted at Mt Fitch South. These occurrences, together with the eastern end of Browns East,
will be among those to be tested further.
For further information contact:
Neil Guest (Company Secretary)
Telephone: + 61 2 9417 3588
Facsimile: + 61 2 9417 8750