YAMARNA GOLDFIELDS LIMITEDABN 84 006 189 331COMPANY...

YAMARNA GOLDFIELDS LIMITED
ABN 84 006 189 331
COMPANY ANNOUNCEMENT
ACQUISITION OF TALGA PEAK PROJECT
5 August 2005
Yamarna Goldfields Limited (ASX : YAM) is pleased to announce that it has reached agreement
to acquire the sole and exclusive right to earn up to an 80% interest in the Talga Peak Project
(ELA 45/2650) located in the Pilbara mining region, Western Australia. The project adjoins the
Spinifex Ridge Molybdenum deposit currently being evaluated by Moly Mines Limited.
The 180sq km tenement encompasses a portion of the Warrawoona formation and the
Cleaverville Chert. This is the formation hosting the highly prospective Turner River and
Wingina Well gold discoveries recently announced by De Grey Mining Limited. Prospecting at
Talga Peak has located an outcropping gossanous ridge of the Cleaverville Chert containing
gold values up to 7 gpt Au. Prospecting has also shown that gold occurrences occur
intermittently over approximately 2km and has revealed the presence of previously unknown
gold workings. Significant other gold and copper occurrences occur within the tenement
however the Cleaverville formation is the company’s primary target.
The company has retained the services of Geoffrey Blackburn (B.Sc, FAus IMM, CP Geo,
MMICA, FSEG, MASA) to co-ordinate the exploration program. Mr Blackburn has been
instrumental in a number of recent high profile new discoveries within the region and in
particular the Wingina Well and Turner River gold discoveries (De Grey Mining) and the Farrel
Well gold discovery (Atlas Gold Limited).
Pursuant to the agreement, Yamarna has paid a non-refundable deposit of $100,000 and may
earn a 51% controlling interest by spending $800,000 on exploration within 2 years (Yamarna is
required to spend a minimum of $400,000 before it can withdraw). After earning a 51% interest
Yamarna may then acquire a further 29% interest (80% in total) by paying $2,000,000 to the
vendor Oakover Gold Limited.
On behalf of the Board
Richard Revelins
Director