Ann: Drilling Commences at Tres Estados, page-2

Jeez, that rig's tiny! Hmmm, I like that: "similar to that mapped and sampled from outcrops"

DRILLING COMMENCES AT TRÊS ESTADOS

Highlights:
• Reverse circulation (RC) drilling has commenced at Três Estados
• Dr Hercules Neves has been appointed a consultant to BBX

Brazilian gold explorer, BBX Minerals (ASX: BBX or “the Company”) is pleased to provide the following exploration update.

BBX commenced reverse circulation (RC) drilling at the Três Estados prospect (fig 1) in late August. Drilling progress has been hampered by the extreme hardness of the fresh **bro and by local high groundwater pressure. To date a total of 7 holes, totalling 285m have been completed (table 1, Appendix fig. 3). Hole TERC-001 was halted at the base of weathering at a depth of 24m due to technical problems and will be re-initiated in due course.

All holes have intersected from 4 to 24 metres of soil and saprolite (weathered bedrock) followed by fresh **bro. Two styles of **bro have been identified, a medium-grained **bro similar to that mapped and sampled from outcrops in the region and a finer-grained, darker, magnetite-rich **bro. BBX expects the RC drilling at Três Estados to be completed in approximately 2 weeks when the rig will move to the Ema prospect (see Appendix, fig 4).

On receipt of the environmental licence a diamond drilling programme will be conducted on an approximate 100m x 100m grid whilst the RC programme is being carried out on 100m centres along available access roads. Holes will be drilled to a depth of 40-50 metres with a minimum of one diamond hole at each prospect drilled to a depth of 100 metres.