ann setting up our future

Its called volume prodn folks and its coming our way. As the PON settles and bounces around over the next 12 months, what better way to maintain your %EBIT and $EBIT than by upping output.Hang onto those MCR for a long term invest situation. As the resources market goes through its last part of the cycle of "flight to safety" in the future, we will certainly be one of the preferred investments.

Kambalda nickel producer Mincor Resources NL (ASX: MCR) is pleased to announce that its $68.5 million
acquisition of Goldfields Mine Management Pty Ltd (“GMM”) was completed today, Monday 2 July 2007,
with effect from Sunday, 1 July 2007. Settlement of the transaction follows the satisfactory completion of
Mincor’s due diligence investigations and the completion or waiver of all conditions precedent.
The successful acquisition of GMM represents an important landmark in Mincor’s growth, giving it control of
most of the northern portion of the Kambalda Dome – including a suite of advanced exploration and
feasibility level nickel projects as well as the operating Otter Juan nickel mine.
“We are delighted to have completed this transaction and warmly welcome GMM’s existing employees to the
expanded Mincor group,” said Managing Director, David Moore.
“This important acquisition secures for Mincor a position of outstanding strategic and commercial value in
the northern part of the Kambalda Dome, complementing our existing operational base to the south and our
growing portfolio of production, development and exploration assets in the region,” he added. “We have
ambitious plans to fully realise the nickel potential of the newly acquired areas.”
The Otter Juan Nickel Mine is Kambalda’s oldest producing mine and by far its largest producer, with over
297,000 tonnes of past nickel metal production. Also included in the acquisition are mineral resources
totaling 28,280 tonnes of contained nickel metal at the McMahon and Durkin Projects, and an outstanding
portfolio of exploration tenements covering the northern portion of the richly endowed Kambalda Dome.
The Otter Juan mine is forecast to add approximately 3,600 tonnes per annum of nickel metal in ore to
Mincor’s production. In addition, Mincor is also carrying out feasibility studies on the McMahon and Durkin
Projects, and expects to make development decisions on these projects within the next six months.
While the Otter Juan mine currently has no JORC compliant reserves or resources due to its previous
ownership by an unlisted company, Mincor believes that the operation is capable of generating
approximately 100,000 tonnes per annum of ore grading 3.6% nickel for the next three to four years.
New Drilling Results from Otter Juan
Drilling is currently underway at the Otter Juan Mine down-plunge of the existing mine workings. Results
received to date have reinforced the Company’s confidence in the strength of the Otter Juan mineralisation,
with intersections including:
• JS44-019: 4.65 metres @ 6.46% nickel
• JS44-020: 4.40 metres @ 6.06% nickel
• JS44-021: 1.80 metres @ 4.92% nickel
• JS44-022: 2.50 metres @ 5.14% nickel
• JS44-023: 3.90 metres @ 5.14% nickel
All intersections reported as estimated true widths (see plan attached).
Mr Moore said the new drilling results demonstrated the continuation of consistent high-grade nickel
sulphide mineralisation at mineable widths, with the mineralisation remaining open down-plunge.
MEDIA RELEASE
Monday, 2 July 2007
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“These excellent early drill results from Otter Juan have provided clear confirmation of the strength of this
mineralised system,” he said. “We intend to continue this drilling programme and pursue the mineralisation
as far down-plunge as it is possible to drill from the existing underground development.”
Mr Moore said that exploration drilling had also already commenced targeting the area down-plunge of the
existing McMahon mineral resource, a separate mineralised channel structure west of the Otter Juan Mine,
where Mincor’s feasibility study is at an advanced stage.
“We hope to make a development decision at McMahon within the next four months,” he continued. “That
will then allow us to turn our attention to Durkin Deeps, where our initial scoping studies have indicated the
potential for another new mine. In parallel with the advancement of these key near-production assets, we
will vigorously pursue the exploration potential of the wider area, which has been virtually untouched since
the late 1990’s.”
Mincor has an aggressive multi-pronged growth strategy in nickel and is pursuing a pipeline of new
development opportunities and exploration projects in the Kambalda Nickel District. The Company recently
announced the formal go-ahead for its new Carnilya Hill nickel mine, and is targeting a sustainable
production rate of 20,000 tonnes per annum of nickel metal in ore.