Ann: Drilling results from Songvaar magnetic anom, page-2

re: Ann: Drilling results from Songvaar magne... Things are looking really good here at Hillside in regard to size of the project as a whole.

This is looking like 3 solid lines of mineralisation and still open.

The original find on the Zanoni line reported in January was solid.

The company has reported finds on it's second target line called Parsee. More chalcopyrite reported in drilling core over 45m from depth 100m - 145m (downhole). Assays pending due early November.

Today's RXM reports drilling along the 3rd line Songvaar using data from an EM survey. The two drill holes have both intersected copper hosting minerals along the strike line.

Drill hole HDD045 has tested the South end of Songvaar's EM anomoly and the company reports shallow mineralisations at various levels from 78m and also reports significant chalcopyrite over a length of 57m from a downhole depth of 161.7m.

Assay results due mid November for HDD045/046. These holes are spaced at 500m, being quite wide.

Further drill testing in the gap now has a higher probabilty of containing Cu mineralisation.

MD Steve Olsen reports the strike length of Songvaar is 800m and open in all directions. This is the important part. Hillside keeps delivering up and down the interpreted and predicted zones of mineralisation.

The big overall Rex package of hits at Hillside, plus Rex's ever increasing Mt Carrington (Au/Ag) resource (plus Cu)inconjunction with exploration licences covering a large area along Pine Point Copper belt (wholly owned) with further EM targets still yet to drill makes Rex a pretty exciting local copper exploration play.

I will be a very happy holder some of the longer strikes of observed chalcopyrite from the assays pending of Parsee and Songvaar can match some of Rex's previous high grade Cu results reported over this year.

Market cap currently is the $160m range, which compared to other explorers is high. It is hard to value a stock like Rex on a limited amounting of drilling.

My view is that considering the current rate of drilling being undertaken, the number of targets identified to drill in the future from the EM survey, combined with positive announcements hitting the market regularly from drilling already undertaken from locations now some distance from original discovery in January the market may price in some further 'speculative' upside.

Further sucessful drilling will most certainly bring attention from more serious investors and brokerage firms of whom may be able to start putting a better defined quantitative value on the in-ground resources Rex has discovered.

My money is on that Rex will prove the Hillside project's value to be worth more than what the market is currently valuing it at. It is a punters stock but one I am happy to punt on given how this exploration story is playing out.

As always DYOR.

Good luck to all holders.

Peggs