gold up and copper up strongly, page-2

reports highest value hole with potential extensio PRESS RELEASE 15 April 2005
Pan Aust reports highest value hole with potential extension to resource
Pan Australian Resources Ltd earlier today reported the highest value drill intersection to date at
its major asset, the Phu Kham copper-gold deposit, showing exciting potential for the resource
estimate to be increased.
The hole returned a cumulative interval of 280 metres at 1.3% copper and 0.2 g/t gold which
started only 8 metres from surface and included a peak interval of 34 metres at 4.6% copper and
0.7 g/t gold.
Managing director Gary Stafford said the results identified high-grade mineralisation over a
significant width from a hole drilled north of the current resource envelope where the deposit
remains open.
“This is the highest value hole in the history of the project,” he said.
“This very strong mineralisation was found outside the existing resource area and confirms an
extension of the resource 100 metres to the north.
“We are awaiting assays from holes drilled further north again and that data should be available
within the next month. If those holes come back mineralised it would extend the deposit a further
100 metres.”
Mr Stafford said the known strike length of the deposit was now 1.3 kilometres and remained
open to the north and south, as well as at depth.
He said results for eight holes had been received which showed support and further upside for
the resource estimate of 108 million tonnes grading 0.8% copper and 0.3 g/t gold.
“We will factor the new drill information into the resource by the middle of the year,” he said.
Pan Australian is undertaking a feasibility study on the Phu Kham copper-gold project to confirm
a 9 million tonnes a year operation to produce 57,000 tonnes of copper and 52,000 ounces of
gold in a concentrate. The study will be completed by the end of August this year.
Mr Stafford said the company was on track with the development of the Phu Bia Gold Mine which
will mine the Phu Kham gold cap overlaying the Phu Kham copper-gold deposit.
Mining of the gold cap will represent a partial pre-strip of the copper-gold deposit, and is the first
phase of the development of the company’s Lao assets.
He said all equipment has been delivered to site and construction of the processing plant was
well advanced, with costs falling within the budget of US$15.3 million.
The first gold pour is scheduled for May with ramp up to full gold production expected during the
September 2005 quarter.
For further information:
Gary Stafford Joe Walsh
Managing Director General Manager – Corporate Development
07 3878 9299 07 3878 9299
Media enquiries:
Diana Taylor - 07 3832 0095 / 0408 639 130