announcement, page-11

re: announcement/ here now 24 May 2005
MARKET UPDATE
Continuation of Voluntary Suspension
On 9 May 2005, the Company notified the market of a continuation of its voluntary
suspension in order to complete a material transaction. At that time it was expected that the
transaction would be completed within a matter of days.
We wish to advise that finalisation of the transaction has taken longer than anticipated and
that we now expect to complete it late this week, with an aim to releasing a detailed
announcement and lifting of our voluntary suspension next week.
In the meantime, the Company will maintain its voluntary suspension pending release of the
detailed announcement to the market.
Chariot Operations
At Chariot, ore is being mined from the 9 to 11 Level stope. The decline heading is past the 13
Level, and development of the 13 Level ore drive has commenced.
Operations are proceeding as normal.
Central Tenements Court Action – Strata Mining Corporation Limited (and others)
The court action by Giants Reef’s wholly-owned subsidiary, Santexco Pty Ltd (“Santexco”)
against Strata Mining Corporation Limited (“Strata”), Sitzler Savage Pty Ltd (and others) in
relation to Giants Reef’s interests in the Juno, Noble’s Nob and Peko tenements at Tennant
Creek, is continuing, and is not related in any way to the current voluntary suspension.
In its ASX announcement dated 12 May 2005, Strata made reference to the Giants Reef action,
together with another unrelated claim Strata is defending.
On 19 May 2005, Santexco lodged an application in the Supreme Court of Western Australia,
for orders requiring Strata to discover documents.
That application, together with other preliminary applications, is now likely to be heard by the
court in late August, early September 2005.
Change of Principal Administrative Office
Giants Reef wishes to advise a change of contact details for its Perth administrative office.
New contact details are as follows:-
Postal Address: PO Box 1573, West Perth WA 6872
Street Address: Level 6, 600 Murray Street, West Perth WA 6005
Telephone: (08) 9483 5700
Facsimile: (08) 9483 5799
The Company’s registered office at Tennant Creek and email and website address have not
changed and remain as set out below:-
Registered Office: 58 Peko Road, Tennant Creek NT 0860
Email: [email protected]
Website: www.giantsreef.com.au
Enquiries:
GV Ariti
Managing Director & CEO
Telephone: (08) 9483 5700
E-mail: [email protected]