The most salient points from the latest...

The most salient points from the latest (4/2/05)announcement:

HIGH PRIORITY NICKEL SULPHIDE TARGET REQUIRES FURTHER FOLLOW-UP

A down-hole electromagnetic survey of the drill hole has returned a stronger off-hole response than the previous conductor.

The company regards this as an extension of the high priority nickel sulphide target and drilling to test this zone has already commenced.

The follow-up drill hole will be adjacent to the last line of the original ground transient
electromagnetic (TEM) coverage on this part of the basal contact, in which there is an
EM anomaly that is still open along strike for 1.1 kilometres.

The TEM survey over the entire 13kms of the basal contact with the “B-Field” probe
will commence today and will initially focus on the area currently being drilled.

This survey will see an additional 34 line kilometres of TEM coverage, significantly increasing the chance of a nickel
sulphide discovery.

Upon completion of the TEM program the results are likely to generate new targets that will be ready to drill test in late February.

The results from the current drill program and the planned geophysical survey will be
made available at the earliest opportunity.