bacchus marsh update, page-2

ASX Release 14 March 2012
Bacchus Marsh Drilling Update
Mantle Mining Corporation Limited (ASX: MNM) “Mantle”, is pleased to provide the following update on results from the Company’s drilling program at its 100% owned Bacchus Marsh Brown Coal Upgrade Project in Victoria:
Highlights:
Yesterday, drilling through the coal seam at hole MBM 009 (see Figures on following page), was completed. Based on driller’s logs, the hole intersected 48.5m of brown coal as versus a predicted thickness of 29m. This equates to a 67% increase.
Predicted thicknesses are based on straight lines drawn between the top and bottom of the coal seam as logged in wide spaced historic drill holes. Some of these historic holes were terminated in-seam, thereby under-representing true seam thickness.
A 3m thick rider seam was also intersected approximately 10m above the main seam however is not included in Table 1 at this stage. It is also pleasing to note that Sulphur levels in these latest holes have reduced (new results highlighted in Table 1).
To date, total cumulative Actual seam thickness as versus Predicted seam thickness is 370.6m Vs 276m, which equates to an overall 34% increase. Mantle considers these results to be excellent indicators of the potential to deliver a robust maiden JORC Inferred Resource at the Bacchus Marsh Project.
Table 1: Drilling program results to date (Note: Roof and floor cut-offs are currently not defined. Above figures are weighted averages of not less than 93% of logged seam thickness).
Mantle is undertaking a 15 hole drilling program designed to report an Inferred Resource in accordance with the principles and guidelines of the JORC Code. Due to the interception of some very soft overburden layers above the coal seam, and additional thicknesses of coal intersected, the last two holes have taken 2+ weeks each to complete. Drilling continues