antas north continues to deliver ..., page-6

The Company is pleased to report the latest copper-gold results from the Antas North Prospect which includes another exceptional intercept:

79.75m at 1.42% Copper and 0.20g/t Gold from 233.00m

? AAND-441 and AAND-492 support the continuation of the ore-body at depth on both drill sections and a substantial thickening of the mineralisation in the centre of the breccia pipe.

? AAND-492 contains 40m of mineralised breccia and like AAND-441 is more than fifty percent wider than the intersection up-dip in hole AAND-33.

? Recent testing of VTEM (Airborne Electro-Magnetic Geophysical Survey) targets along strike1 from Antas North has delivered immediate success with ore grade mineralisation intersected to the northeast (AAND-46). Results from the first VTEM drill hole include:

? 2.58m at 3.59% Copper, 0.33g/t Gold from 83.00m AAND-46

? 9.84m at 0.61% Copper, 0.12g/t Gold from 124.00m AAND-46

? AAND-482 was drilled to follow up the mineralisation observed in AAND-46 and shows continuation of mineralisation at depth. Drill testing along strike is now considered a priority.

? Another VTEM target is situated to the north of Antas North and coincident with anomalous soil geochemistry, this has been interpreted to represent another mineralised body and warrants priority drilling.

? Latest results from Antas North include:
? 6.50m at 2.43% Copper, 0.06g/t Gold from 63.00m AAND-41
? 79.75m at 1.42% Copper, 0.20g/t Gold from 223.00m AAND-44
? 1.00m at 3.21% Copper, 19.60g/t Gold from 319.00m AAND-44
? 9.25m at 1.42% Copper, 0.90g/t Gold from 212.00m AAND-45
? Sufficient results are available to prepare a maiden JORC resource estimate for Antas North. Completion is anticipated within weeks with incremental up-dates expected to follow during first half of 2012.