and the winner is

Austpac Resources is pleased to announce that the Company has won the “Applied Technology of the Year” Award at the 2008 National Mining Awards. The awards were announced in Sydney last night at a gala dinner at the Excellence in Mining Conference. The organizers of conference gave the following description of the significance of the award for Applied Technology of the Year: “From the Bronze Age to the Silicon Age, Man's ascent has been driven by the ability to treat rocks with technologies. With the large, shallow and obvious deposits now mostly depleted, we are looking deeper into the Earth of resources, using lower grade bulk resources and chasing an extraordinary new spectrum of materials used in our high-tech lifestyles. Technology itself is leading the cause in satisfying these new levels and types of demand. The Applied Technology Award recognizes those who have taken the edge forward in its use”. Austpac’s award winning ERMS SR process produces the highest grade synrutile (97% TiO2); ultra high grade synrutile is a preferred feedstock for making titanium metal. It is the only synrutile process that also produces a saleable iron metal co-product, rather than losing the iron as waste. ERMS SR is a continuous process that can upgrade any ilmenite, use any fuel, produces no liquid or solid wastes, emits the least CO2 per dollar of revenue in comparison with other upgrading processes, is carbon capture capable, and uses waste heat to generate electricity. Austpac’s technologies can be also used for “green” recycling of steel industry waste (waste mill scale and spent pickle liquors are converted to hydrochloric acid and saleable iron), and also to produce iron metal pellets (DRI) from iron ore fines. Austpac is currently demonstrating the proprietary ERMS SR process in a 3,000 tpa plant at Newcastle. ERMS SR is the world’s most versatile, cost effective and environmentally sustainable synrutile process. Mike Turbott, Managing Director, said “This award couldn’t have come at a more exciting time for Austpac. To get this kind of recognition really shows the innovation, dedication, and hard work put in by all the staff at Austpac. “After 15 months of planning and construction, our Newcastle plant is in the final stages of commissioning and we will be producing synrutile and iron within days. The award is a great way to start what will be a huge month for the Company and validates our belief in our technologies.”