drilling update ann from thursday afternoon

DRILLING UPDATE – POTASH EXPLORATION
SOUTH CARNARVON BASIN
ASX RELEASE
09 APRIL 2009
As at 1200 hours, 09 April 2009, Potash Exploration hole RWDK0903 was at a depth of 1,057
metres and coring in Dirk Hartog formation limestone.
Based on the previous hole RWDK0801, 50km to the east it is expected that a further 200
metres of penetration is required to fully test the prospective Dirk Hartog horizon. At the current
rate of drilling this is expected to take a further 10-15 days.
A decision on location of the next hole will depend on results of the current RWDK0903 but will
probably be drilled in the Yaringa area 105km south of the current hole.
A significant halite (salt) horizon is known to exist in the Yaringa at a depth of 1,100 - 1,200
metres. Minor Potash mineralisation was encountered in the evaporite horizons previously
intersected in that sector.
Further results will be provided as they come to hand.
Yours faithfully
MICHAEL RUANE
Director