ASX Release Page 2 of 2 Raptor Spin-Out Due to the recent share market volatility the Board has decided not to proceed with the spin out of Raptor Minerals Limited (NSW and Peru Exploration assets) at this time. Company Name We have received confirmation from the Australian Securities and Investment Commission (ASIC) that registration of our application to have the name of the company changed from Compass Resources NL to Compass Resources Limited has been granted. Sulfide Resources The updated resource estimates for Browns and Browns East Sulfide mineralisation resulted from extensive infill drilling aimed at improving the status of the resource from mostly inferred to greater proportions in the measured and indicated categories. This was necessary to bring the resources to the confidence level needed for the Sulfide Definitive Feasibility Study (DFS). Mine scheduling in the DFS will be such that the higher-grade resources at Browns will most probably be mined first. The total resource in Browns increased, while the total resource in Browns East, which was previously wholly in the inferred category, decreased. The DFS drilling completed in Browns East to date has allowed a significantly better estimate to be made with better understanding of thickness of mineralization. Significant faulting at the eastern end could be a limit on total Browns East resources but more drilling is required to determine actual resources. The company is also yet to make a resource estimate for the uranium that has been encountered in the continuing Browns East drilling Browns and Browns East both remain open at depth. The potential for further sulfide and Uranium mineralisation on the company’s tenements remains high with less than 50% of the Whites Formation/Coomalie Dolomite Contact within the tenements having been tested. As the requirements for resource definition drilling for the DFS are satisfied, more exploration effort will be transferred to regional exploration work and testing of the Contact. Sulfide resources are present at Area 55, and high grade sulfide mineralisation has been previously intercepted at Mt Fitch South. These occurrences, together with the eastern end of Browns East, will be among those to be tested further. For further information contact: Neil Guest (Company Secretary) Telephone: + 61 2 9417 3588 Facsimile: + 61 2 9417 8750
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