Ann: Multiple High Grade Intercepts continue at Toweranna, page-2

Multiple High Grade Intercepts continue at Toweranna Flat lying high grade gold mineralisation (previously reported 29m @ 4.38g/t) interpreted to extend across most of the 250m wide granitoid on Section 7679970N Interpretation supported by new results 15m @ 5.11g/t, 8m @ 14.12g/t, 6m @ 4.87g/t, 3m @ 6.29g/t, 2m @ 8.67g/t and 3m 4.57g/t. Numerous stacked gold lodes continue to be intersected in RC drilling throughout the entire 250m diameter granitoid and into portions of surrounding sediments. Further significant results (greater than 40g x m) include:15m @ 5.11g/t Au from 205m in TRC141incl 5m @ 12.52g/t Au from 213m8m @ 16.37g/t Au from 228m in TRC142incl 2m @ 61.7g/t Au from 231m4m @ 15.34g/t Au from 36m in TRC146 21m @ 2.04g/t Au from 194m in TRC147 11m @ 5.21g/t Au from 25m in TRC150incl 2m @ 18.55g/t Au from 33mRC drilling program is now complete with 42 holes (TRC128 - 169) drilled for10,126m. Results reported to hole TRC152 with a further 17 RC holes pending. Resource update expected to be completed during the September Quarter, upon receipt of all RC and diamond drilling assays.Andy Beckwith, Technical Director commented: “The new drilling results clearly suggest a substantial resource increase can be expected. The stacked gold mineralisation has now been confirmed to extend throughout the entire 250m diameter granite body and to at least 200m depth and remains open at depth.The high grade nature of the gold bearing quartz veins is especially encouraging. We expect the large volume of new assays that have been received will support a significant increase in the upper high grade gold cut in the resource estimate, which may result in an increase in overall grade in addition to increased ounces.Importantly, many of the gold lodes remain open below the latest RC drilling and historical diamond drilling shows lodes occur to at least 425m depth.”