Up over 14% to 48cNew Vanadium Zone confirmed in the Hart...

Up over 14% to 48c

New Vanadium Zone confirmed in the Hart Dolerite
northern Western Australia

ANNOUNCEMENT 23 October 2007

HIGHLIGHTS

Initial assays from RC drilling confirm the discovery of a vanadium
(V2O5) mineralised zone in the Hart Dolerite intrusion, Kimberley region
of northern Western Australia.

Mineralised zone is 3.5km long and up to 1.6km wide in an outcropping
flat lying vanadiferous titanomagnetite bearing gabbro layer.

The assays report a maximum 52m interval of 0.29% V2O5 containing a
higher grade layer at the base.

These holes will now be assayed for PGE+Au potential.