re: Ann: High grade drill results at Catherwo... Please find...

re: Ann: High grade drill results at Catherwo... Please find attached the latest announcement detailing the results of the latest drilling at Catherwood.

We always knew the upper supergene zone would outperform the geological model for Catherwood but did not expect such consistent high grades and widths.

We believe this will change the economics of Catherwood considerably with stage 1 delivering positive net cash much earlier in the mine life. The capital cost to commence is estimated at $600k so this becomes a much more attractive mine to develop.

The highlighted grades are spectacular but have a look at the results table at the consistent tenor. This southeast region of the mine is also open.

Drilling continues at our newly discovered Telegraph project 2 kms east of Castle Hill and maiden Resource estimation work at Kintore is on schedule.

Results from Blue Funnel will be finalised shortly with the mining of the remainder of Blue Funnel pit looking like the second development in the small mines (cash generation) pipeline.

Stockpile sale to a third party mill also remains on track with haulage expected to commence this Quarter. Awaiting on permits to truck.

Kind Regards,

Jon Price