Hi Westsurf, you ar enot alone in following this stock,although...

Hi Westsurf, you ar enot alone in following this stock,although it may seem that way!

25 May 2006 ASX / MEDIA RELEASE

MARENGO COMMENCES YANDERA COPPER-MOLYBDENUM DRILLING

• Phase 1 resource drilling underway at Yandera Copper/Molybdenum Project, PNG.

• Focused program targets JORC compliant resource in 2H 2006, building on extensive historical database.

Diversified metals company Marengo Mining Limited (ASX Code: MGO) today announced the commencement of the Phase 1 resource drilling program at its 100%-owned Yandera Copper-Molybdenum Project, located in Papua New Guinea’s Madang Province.

The first of two diamond drill rigs has been delivered and assembled on site at Yandera by the drilling contractor, United Pacific Drilling (UPD), with drilling operations commencing yesterday (24 May 2006). The initial program will comprise up to 10,000 metres of diamond drilling, focusing initially on the Gremi and Omora zones of copper-molybdenum mineralisation.

The commencement of drilling at Yandera represents a significant milestone for Marengo, representing the culmination of more than 12 months of preparatory work by the Company, including detailed analysis and upgrading of the comprehensive existing database of more than 33,000 metres of drilling which was completed in the 1960s and 1970s by Kennecott Exploration and BHP.

Over US$20 million was spent on exploration historically at Yandera, resulting in the generation of a number of non-JORC resource estimates and the completion of a mining scoping study by BHP. The Yandera porphyry is an extremely large mineralised system containing eight coherent mineralised zones identified to date from 102 diamond drill holes over an area of more than 12km2, all of which are open in one or more directions.

First discovered by Australian Government geologists in the 1950s, the Yandera Project is located 95km south west of the coastal town of Madang, PNG, and represents one of the South West Pacific region’s largest undeveloped copper-molybdenum porphyry deposits.

Marengo’s Managing Director, Mr Les Emery, said the commencement of drilling at Yandera represented another significant milestone in the Company’s continued development as a PNG-focused exploration and resource development group.

“This program represents the culmination of many months of detailed planning by Marengo, and follows the agreement we reached in February this year to acquire our former joint venture partner’s 50% interest in the Yandera Project, giving us 100% ownership of this substantial mineral asset,” Mr Emery said.

Marengo will release assay results from the Yandera resource drilling program to the market as they come to hand.

Regards,

Keith