ann out, page-5

JORC Assays will be out in Jan



MORE POTASH INTERSECTED AND
EXPLORATION TARGET INCREASED
h Diamond core drilling intersects additional potash in holes Col-011,
012, 013, 014, 015, 016 and 017 (Figure 1);
h The results confirm an increase in the initial exploration target to 500
V 750Mt of potash ores with average grades of 21-25% KCl located
above 100m vertical depth. (To comply with the JORC Code, the following statement must
be read proximal to the stated exploration target above; The potential quality and grade of the Colluli
exploration target is conceptual in nature and there has been insufficient exploration to define a Mineral
Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource)
h A total of 17 diamond holes have been drilled at Colluli defining an
area of >9km2;
h The extensive mineralisation intersected to date at the project is
considered open in all directions;
h The current drilling is part of a JORC/43-101 resource and mining
engineering study into the open pit mining and processing operation
with an initial minimum starting capacity of 1.5Mt of potash p.a. The
study will also examine the viability of substantially increased
production capacity;
h A maiden JORC/43-101 resource report is due for completion in
January 2011. Scoping study results are planned to be completed in
mid 2011;
h Exploration results to date have confirmed Colluli as the worlds
shallowest buried evaporite potash deposit;
h South Boulder is well financed to advance exploration and feasibility
studies with ~ $15.5m in cash and NTA;
h Assay results and full details on further exploration drilling and
scoping study results will be released as they come to hand.