Ann: Acquisition of High-Grade West Australian Gold Project, page-172

Yes; this is a great project, and actually Tunks said the costs would be minimised.

Why?

1. Already wide mineralised zones on the pit floor.

2. Because of the continuity or homogeneity of the ore body meaning lower strip ratios, to quote Managing Director of MEI Dr. AndrewTunks:

" the continuity of the ore body, the internal continuity of the drill zone, metre after metre of good solid assays with very little internal dilutionwhich really impacts your stripping ratio in the open pit environment(lower strip ratio)

"and a real sense of ore in the floor of the pit, so still wide zones of ore in the floor of the pit and the opportunity to extend that to the south is VERY EVIDENT when we started to look at the sections and rebuild that model from first principles....having done that I have an ENORMOUS AMOUNT OF CONFIDENCE that is where we need to go now and what we need to do TO COME UP WITH SOME FANTASTIC DRILL INTERCEPTS."

3. historically low mining cost

4. metallurgy with simple plant of plus 94%!

5. Already 9 mill tonnes tailings dam in place.

6. Can rehabilitate plant cheaper than rebuild or possibility of trucking and the ore down the road to process at Pantoro.

With Juruena-PRESS HERE and WA an exciting time for MEI shareholders!

AIMO