deflector jorc reserve increases by a further

Mutiny Gold Announces Further Significant Reserve Upgrades for Deflector
Highlights:
• Deflector JORC Reserve increases by a further 63,000oz Au Eq
• ’Probable’ Ore Reserves increased by 196,000 tonnes at 9.0 g/t gold, 2.8 g/t silver and 0.6%
Copper for 57,000 ounces gold, 18,000 ounces silver and 1,000 tonnes of copper
• Additional Reserves add high-grade ore (+9g/t Au) to the underground mining schedule for years 2
and 3
• Outcome highlights the value of the high-grade Splay Lodes, with potential to significantly boost
resources and reserves
Australian gold-copper resources company, Mutiny Gold Ltd (ASX: MYG) (“Mutiny” or the “Company”), is pleased
to announce an updated underground JORC compliant resource and ore reserve for its Deflector Gold-Copper
Deposit (“Deflector”) in Western Australia.
The update is the result of a resource classification review of Deflector carried out by John Doepel of Continental
Resource Management (CRM) and Lynn Widenbar of Widenbar and Associates (Widenbar). Particular focus was on
the West Lode splay zones which contain some of the highest grade mineralisation discovered to date at Deflector.
The result is a reclassification of four complete or partial West Splay Lodes from Inferred to Indicated resource
category (Table 1), which has been peer reviewed by Mutiny and SRK Consulting geologists. The increase to
Indicated resource category totals 184,000 tonnes at 13.2 g/t gold for 79,000 ounces gold or 87,000 ounces gold
equivalent.
Entech Mining Consultants (Entech) has reviewed the revised classification, leading to an important material
reclassification from the Inferred Life of Mine (LOM) into the Probable Reserve Category (Table 2) without changes
to the current Mine Design. The revised classification has increased ‘Probable’ Ore Reserves by 196,000 tonnes at
9.0 g/t gold for 57,000 ounces gold, or 63,000 ounces gold equivalent.
Mutiny Gold’s Managing Director, John Greeve, said the reclassified Indicated Resources demonstrate Deflector’s
high-grade tenor delivered from the Company’s successful drilling campaigns.
“The flow-through to Ore Reserves adds increased revenue to the project and places even greater confidence in
our mining plan.
“Furthermore, the Splay Lodes offer further opportunity for additional high-grade ounces within close proximity to
planned mine development and will be included as targets in our exploration strategy,” said Mr Greeve.26 November 2012
Page 2
Deflector JORC Compliant Resource Update
The Deflector Resource Classification review by CRM and Widenbar examined large and high-grade Splay Lodes
associated with the Western Lode. These have been reviewed in detail both from a geological confidence and
geostatistical point of view. Four of these lodes have been either fully or partially classified as Indicated rather
than the initial (July 2012) classification of Inferred.
The resource classification methodology is the same as that used for the West and Central lodes and incorporates
a number of parameters derived from the kriging algorithms in combination with drill hole spacing and continuity
and size of mineralised domains.
The above parameters were used as a guide to digitise wireframe solids that encompassed the measured and
indicated areas of the West and Central mineralisation domains. As an approximation, measured material
generally corresponds to areas of 20m or less drill hole section spacing, which was estimated in the first search
pass and had the maximum number of samples