drilling for copper and gold

1800 Mtr RC Drill.Prog.Targeting Copper-Gold Mineralisation
25/6/03 10:39:00 AM



APEX MINERALS NL 2003-06-25 ASX-SIGNAL-G


HOMEX - Perth



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Apex Minerals NL has commenced an 1,800 metre reverse circulation
drilling programme that will test a series of new gravity and
coincident soil anomalies for copper-gold mineralisation at its 1,470
square kilometre Jillawarra project, 150 kilometres north-west of
Meekatharra.



Six 300 metre holes will be drilled into the Manganese Range and the
Woodlands areas where Apex is focusing its efforts to find a
multi-million tonne ore deposit similar to the massive Olympic Dam
and Ernest Henry orebodies.



Apex's preference towards drilling gravity rather than prominent
magnetic anomalies is due to the targeted mineralisation not
necessarily having a strong magnetic signature.



A greater emphasis is also being directed towards those gravity
anomalies that sit close to major faults that could have served as
feeder structures and where recent soil sampling has delineated
coincident, multi-element geochemical anomalies.



Drilling results are expected to be available in about five weeks.



The project is undoubtedly at the exciting high risk / high reward
end of the exploration risk spectrum. Other than subtle geochemical
anomalies obtained from soil sampling there are very few other clues
at surface as to where mineralisation may occur at depth.



In addition to its new gravity and geochemical data, Apex has
acquired and reprocessed several other geological datasets and used
the latest 3D imaging techniques to screen and finesse targets. The
company has also drawn on the expertise of several leading
geoscientists.



Jillawarra's mineralisation pedigree was considerably enhanced in
1982 when systematic drilling of magnetic anomalies resulted in the
discovery of the 200 million tonne but relatively deep and
sub-economic Abra deposit, 9kilometres east of the Jillawarra
project. Mineralisation was intersected at several other localities
but no other major accumulations were discovered.



Apex has marked out and had cleared by the traditional aboriginal
owners sites for several additional drill holes to enable a rapid
follow-up of any encouraging results it obtains in this programme. It
is also working-up targets at a number of other localities in the
Jillawarra region.



The Company has already earned an 80% interest in the Jillawarra
project which comprises one granted exploration licence and six
applications for exploration licenses. The remaining 20% interest is
held by a syndicate comprising prospectors Mark Creasy, Bruce
Legendre and Frans Voermans who are free-carried to the completion of
a bankable feasibility study.



WINDIMURRA AND NARNDEE PLATINUM-NICKEL PROJECTS



The Jillawarra drilling is the third in an almost continuous series
of drilling programmes by Apex since March this year. Two other
drilling programmes are planned at the Windimurra and Narndee
projects over the next few months.



At Windimurra, Apex is planning in August to follow-up encouraging
first round geochemical and drilling results it obtained from a 1,542
metre, 23 hole RC programme in May at the Muleryon Hill and Corner
Well prospects where it is targeting platinum and nickel
mineralisation (refer release to ASX dated 13th June 2003).



At the Narndee platinum-nickel project, immediately to the south of
Windimurra, joint venture partners Falconbridge Limited and Impala
Platinum Holdings are expected to drill test in late July recently
defined geochemical anomalies.



SOUND CASH POSITION



Apex has 38,875,421 fully paid shares on issue and will hold cash
reserves of approximately $2.0 million after completion of the
Jillawarra drilling programme.