Ann: Mt Cobalt Drilling Update, page-2

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 Drill assay results up to 28.15m @ 0.29%Co & 0.73%Ni, including two higher grade intervals of 6.65m@ 0.45%Co & 0.89%Ni and 2.7m @ 0.74%Co & 0.89%Ni The Directors of Aus Tin Mining Limited (the Company) are pleased to provide the following update in respect of its Mt Cobalt project, approximately 40km west of Gympie, Queensland.

Assay results have been obtained for the four drill holes completed in late 2017 (COB26 to COB29), the most notable result being for COB029 which was drilled approximately 130m NNW of the historic Smiths mine (Figure 3).   The average grade for the 28.15m hole (COB029) was 0.29%Co, 2.36%Mn & 0.73%Ni and included two high grade intervals of 6.65m @ 0.45%Co& 0.89%Ni from 3.8m and 2.7m @ 0.74%Co & 0.89%Ni from 24.4m (refer Table 1).  COB029 finished in mineralisation (0.13%Co). The use of BQ diameter core (function of the Diamec 262 underground diamond drill rig used) resulted in lower core recovery, and consequently a drill sludge sample was collected which for the entire hole assayed 0.62%Co & 0.82%Ni.  The high sludge sample grade may indicate that drill core is under reporting the grade and future drilling is expected to employ triple tube diamond drilling and/or larger diameter diamond core to improve recoveries. Fines washed from core in the recovery process and recovered in sludge have a significantly higher grade than the assayed core interval.


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