Forecast 2008 productionForecast production for 2008 remains...

Forecast 2008 production
Forecast production for 2008 remains unchanged at 47,000 tonnes of copper and 950,000 ounces of silver.
Individual mine site production numbers are as follows: Dikulushi, 11,000 tonnes of copper and 950,000 ounces
of silver; Mutoshi, 9,000 tonnes of copper and Kinsevere 27,000 tonnes of copper.

Exploration
Dikulushi
An active exploration program is in place at Dikulushi, focused on near-mine exploration, targeting prospects in
close proximity to the current Dikulushi operation which could supplement feed to the HMS plant. Noteworthy
intersections have been found at the Kabusanje deposit, located 15 km from the mine. Assessment, including
core drilling to understand the mineralization continues. Analysis of the boom-gate area has determined that no
further work will be carried out on this deposit.

The underground mine orebody remains open at depth and to the east, with further drilling required to provide a
better understanding of the existing resource for underground mine planning as well as evaluating the potential for extending the current estimated mine life beyond September 2011. The Company is currently sourcing a drill rig to carry out this work.

The Company is also using the results from an aeromagnetic survey that was completed in 2007 to assist with
identification of general targets within a 40 kilometre radius of the current mine.

Kinsevere
Conclusion of Phase 3 drilling has enabled completion of resource modelling for Kinsevere Hill and the Kinsevere
Hill extension, with optimisation of an enlarged oxide pit currently underway. This is expected to add to the
Kinsevere resource.

Phase 4 drilling of the sulphide mineralisation at Tshifufia and Tshifufiamashi is underway in order to allow for preparation of a resource estimate to a level of confidence consistent with a Measured and Indicated Resource
down to 250 metres and to a level of confidence consistent with an Inferred Resource between 250 metres and
400 metres. This will provide a resource estimate that includes oxide resources and sulphide resources not
included in the most recent resource estimate.

The first stage of the Phase 4 drilling program for the oxide and sulphide resource at Tshifufia is expected to be
completed by the end of the third quarter. Preliminary metallurgical test-work in relation to processing of the
sulphides will commence in August and in the fourth quarter of 2008, updated resource and reserve estimates for
Kinsevere will be determined and detailed mine planning and financial evaluation will be carried out.

The Company has identified the accuracy of density determinations as a risk to the number of tonnes reported in
the current resource estimate. The results of bulk density tests carried out during 2008 indicate that in the current
mining areas, the bulk density may be lower than that predicted from the core measurements used in the
Feasibility Study. While the total impact of the issue has yet to be determined, mining rates have been adjusted
to meet 2008 production targets. The Company is currently undertaking a rigorous evaluation of the density issue
through targeted drilling to provide core for further specific gravity measurements, down-hole geophysical logging
for obtaining in-situ density measurements and ongoing bulk density measurements.

Updated Mineral Resource and Mineral Reserve resulting from the Phase 3 and 4 drilling, which incorporate any
updated findings on bulk density, are expected to be sufficient to justify a Stage III expansion of the Stage II SXEW plant. The front-end of the Stage II SX-EW plant is being built with capability to process throughput volumes
that are consistent with Stage III production levels.

Mutoshi
A scope drilling program at Mutoshi commenced in March 2008, with up to eight Reverse Circulation (“RC”) and
diamond drill rigs being used. The objective of the scope drilling program is to outline near-surface oxide copper
and cobalt mineralization, to an extent sufficient to justify development of the Mutoshi Stage II SX-EW plant. The
program was completed in mid-July with a period of assaying and interpretation currently underway. Findings to
date are as follows:

• At Mutoshi North, the program has yielded significant copper and cobalt intersections in two mineralized
zones within 150 metres of surface.
• Drilling at Mutoshi North-West has returned consistent results, with mineralization below 40 meters from surface. Strike length is currently 800 metres and down dip width of the mineralization on average is more than 400 metres with a thickness of 25 to 30 metres. These sections of the deposit are being modelled in order to produce a resource estimate which can then be evaluated to determine if they are economic or not and whether further evaluation is required.
• Ten RC drill-holes have been drilled at Mulusonoi, located north-east of Mutoshi North-West, and these
have shown the potential for near-surface copper mineralization over an area of 300 metres by 300 metres,
with a true thickness of 10 metres.
• Cobalt mineralization seems to be significant in most of the fragments drilled and first assays returned by
the Mutoshi laboratory have shown attractive, near surface cobalt grades. These initial assays appear to support a processing operation, producing cobalt in an intermediate form and copper cathode.
• In-fill drilling and further work to define a Mineral Resource at Mutoshi will continue for the remainder of
2008 and into the first quarter of 2009.
Separate to the scope drilling program, a team has been organised to electronically capture La Générale des
Carrières et des Mines (“Gécamines”) drilling data from the old Mutoshi mine in order to produce a 3-D geological
model of the Mutoshi regional mineralisation. This will be the basis of the initial mining inventory for the proposed
Stage II expansion.