MALDON GOLD PROJECT UPDATE Highlights Significant intercepts from recent drilling at Maldon include: 0.65 metres grading 63.70 g/t gold 2.00 metres grading 12.89 g/t gold 5.25 metres grading 4.13 g/t gold Details of Announcement The Directors of Alliance Resources Limited (“Alliance”) (ASX Code: AGS) are pleased to announce an update for the Maldon Gold Project in Victoria. Drilling Recent diamond drilling at Maldon tested Eaglehawk reef near historical stopes in the Alliance ore shoot (past production 71,000t for 39,000oz). The primary purpose of the drilling was to locate the stopes for a proposed dewatering bore. The drilling also tested for remnant gold mineralisation in this area, which could be accessed in the future from the Union Hill decline. Two holes and two wedges were drilled and all confirmed the structural model of Eaglehawk reef in this area. DDH 130 deviated excessively to the west but intersected a strongly mineralised hangingwall splay structure, just west of the main reef. DDH 134 and its two wedges (134W1 and 134W2) intersected very highly mineralised laminated and breccia quartz veining 10 to 20 metres above the old workings. Assay results have been received for DDH’s 130, 134 and 134W1 (Table 1). These include some very encouraging gold grades that indicate remnant ore may be present. Alliance plans to test this potential by drilling from the decline when it is closer to this area. Assays for DDH 134W2 are still awaited.
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