announcement

Friday, 1 August 2008
The Manager
Australian Securities Exchange Limited
OVERVIEW
1. Proposal to Acquire the Bounty Gold Mine.
2. Project includes a JORC Code compliant Measured, Indicated and Inferred Resource of 1,833,000 tonnes at an average gold grade of 5.20g/t, for approximately 306,500 ounces of gold.
3. Capital Raising of up to $2.5 million, (20,000,000 Shares at 12.5 cents with 20,000,000 free attaching options),
Introduction
Convergent Minerals Limited (“the Company”) is pleased to advise that it secured an option to acquire the Bounty project located in the Forrestania region of the Eastern Goldfields, Western Australia.
Subject to shareholder and regulatory approvals, the Company will acquire an effective 100% interest, in what the Company considers to be a major, and under explored tenement portfolio prospective for gold, silver and base metal mineralisation in Western Australia. The Company will gain a 100% interest in the gold and silver rights and a 30% (potentially reducing to 20% ) Joint Venture interest in all other metals.
The Company has also entered into a conditional agreement to acquire various infrastructure tenements adjacent to the Bounty project. This agreement is conditional upon completion of the acquisition of the Bounty project by the Company.
Following the proposed transactions the Company expects to have 66,350,300 shares on issue and 66,150,180 options on issue.
Mr Richard Homsany has tendered his resignation, other than that the Board will remain unchanged.