9 February 2006 Australian Stock Exchange Limited Companies Announcements Office CURRIE ROSE EARN 100% INTEREST IN THE JUBILEE REEF LICENCES, AND AN EARNIN OF A 40% INTEREST IN MABALE & NYAMIREMBE IN TANZANIA Sub-Sahara Resources NL has signed a letter agreement with Currie Rose Resources Inc.(CUI) for the option of the properties CUI is presently earning an interest in, located in Tanzania, pursuant to earlier on option agreement dated November 18, 2004. The letter agreement provides that in consideration of the receipt by Sub-Sahara of two million shares in the capital of CUI that: (a) CUI will have acquired a 100-per-cent interest in the Jubilee Reef licences; and (b) CUI will have earned a 40-per-cent interest in the Mabale and Nyamirembe licences. Now that CUI has earned its 40-per-cent interest in the Mabale and Nyamirembe licences, it can increase its interest in these licences to a 70-per-cent interest upon completing a bankable feasibility study on either of the projects. The terms of the acquisition of the Jubilee Reef licences provide for a royalty payable to Sub-Sahara of $3.00 (U.S.) to $7.50 (U.S.) per ounce of gold produced from the licences contingent on the amount of annual production and the price of gold. The terms of the letter agreement are subject to CUI and Sub-Sahara entering into a more formal agreement within 30 days and regulatory approval. Yours faithfully For and on behalf of Sub-Sahara Resources NL MR Griffiths Chief Executive Officer & Director ACN: 061 104 158 288 Stirling Street, Perth Western Australia 6000 PO Box 8260 Perth Business Centre Western Australia 6849 Telephone (+61 8) 9227 3260 Facsimile (+61 8) 9227 3271 Email: [email protected] Web: http://www.subsahara.com.au Sub-Sahara Resources NL
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