announcement today ** Looks like A1 is in for an exciting year...

announcement today ** Looks like A1 is in for an exciting year ahead.


MEDIA RELEASE 24 OCTOBER, 2005
A1 LAUNCHES BRIGHTSTAR PRE-FEASIBILITY STUDY
TARGETING 2006 DEVELOPMENT DECISION
A1 Minerals Limited (ASX: AAM) is targeting a 2006 development decision on a new gold mining
development in Western Australia’s Laverton area after commencing a pre-feasibility study on its
100%-owned Brightstar Project. Located close to world-class mines such as Granny Smith and
Sunrise Dam, Brightstar has an initial resource of over 311,000oz, but A1 says there is significant
potential to grow the resource substantially with further drilling.
Perth, Western Australia – 24 October 2005 – Gold development group A1 Minerals Limited (ASX: AAM)
today announced the commencement of pre-feasibility studies on its Brightstar Gold Project near Laverton,
including assessment of a potential large-scale twin open pit development of the adjacent Brightstar Alpha and
newly acquired Brightstar Beta deposits. This follows the announcement of an initial 311,390oz gold resource for
the Brightstar Project.
A1 said today (Monday) the initial resource estimate provided a platform to commence pre-feasibility work, with
the objective of making a decision to mine as early as next year. However, intensive ongoing drilling programs are
also being planned to increase the current resource inventory by drilling extensions to both the Alpha and Beta
deposits, as well as other known gold occurrences within its 400km2 tenement package.
The initial Mineral Resource for the combined Brightstar Alpha and Beta deposits is 2.34 million tonnes @ 4.1g/t
for 311,000 ounces (using a 1g/t lower cut-off) – including a near-surface component (above 100m depth) of
148,640oz grading 3.35g/t and a deeper resource of 100,730oz grading 10.3g/t.
Optimised open pit outlines are currently being designed for Alpha and Beta, although the Company said today,
high-grade drilling results from beneath the two proposed pits show the potential to go much deeper.
A1 Minerals Managing Director, Mr John Williams, said the development of an integrated mining operation at
Brightstar Alpha/Beta represented an attractive opportunity for the Company based on the current resource
inventory, which would form the basis of the pre-feasibility program.
“It is important to emphasise that there is significant upside potential from further drilling, with the deposits
remaining open and increasing strongly in grade at depth, and from optimization of the mining scenario including
the option for treatment at established local plants,” Mr Williams said. “Our intention is to accelerate exploration
activities over the coming months in parallel with the pre-feasibility study with the objective of substantially
increasing and upgrading the Brightstar gold resource,” he said.
Mr Williams said the Brightstar Project offered a number of key competitive advantages in the current climate for
new gold development projects, namely the ability to generate early cash flow with mineralization starting from
surface, high grades indicating a potential solid profit margin, proximity to existing gold plants, and the existence
of a Native Title agreement and Mining Lease (covering both deposits).
2
“Our focus is on the profitable extraction of high grade mineralization, with Brightstar having the sort of grade
and potential economic profile to suit today’s cost structures,” he added. “We have a mining scenario with open pit
operations grading 3-4g/t and mineralization commencing at surface, followed by deeper mining and likely future
transition to underground at grades of over 10g/t.”
“This pattern could follow that of the world-class deposits of the Laverton area, including the nearby multi-million
ounce Granny Smith and Sunrise Dam deposits,” he added. “Our objective is to move rapidly to achieve early
mining start-up to generate the cash flow to achieve our longer term objective of establishing a multi-million ounce
resource base.”
“Initial processing alternatives include the development of a standalone plant, treatment through one of the major
operating mills in the area, or, potentially, utilization of a campaign-based mobile processing option.”
Mr Williams said the resource estimate for Brightstar reflected the high standards of quality assurance, geological
confidence and realistic economics of expected mining methods.
“The resource has applied lower cut-off grades considered realistic for a high rate of conversion to reserves, plus
good potential for upgrade of the resource from Inferred to Indicated and Indicated to Measured, with limited
additional drilling,” he added. “Moreover, the recent mining history of the Beta deposit (formerly Mikado) provides
increased knowledge of costs, mining methods and recoveries and, as a result, we expect a high conversion rate of
resources to reserves immediately below the pit floor.”
Mr Williams said drilling between existing open pits Alpha and Beta, had returned outstanding results at shallow
depths including 9m @ 10.4g/t, 1m @ 75.5g/t, 6m @ 5.4g/t, 3m @ 15.2g/t and 2m @ 17.6g/t, highlighting the
upside potential from a combined single open pit development.
“The relatively shallow depth of these intersections and the synergies to be achieved by a potential single, larger
open pit should significantly enhanced Brightstar Beta’s resource conversion to a reserve,” he said. “We would
anticipate benefits flowing from this potential amalgamation including the ability to access resources between the
pits, the development of an access ramp to facilitate mining to depth beyond the current pit limits, and establishing
a lower cost structure with a large scale open pit operation.”
The Brightstar pre-feasibility study is scheduled to be completed this year, leading to a development decision by
late 2006.
ENDS -
Released by: On behalf of:
Jan Hope / Nicholas Read Mr John Williams
Jan Hope & Partners Managing Director
Telephone: (+61-8) 9388-1474 A1 Minerals Limited
Telephone: (+61-8) 9244 1400
The information in this report that relates to mineral resource is based on information compiled by Mr Tony Ryall, who is a member of
the Australasian Institute of Mining and Metallurgy. Mr Ryall is self employed and an Independent Geological Consultant and has
sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person (JORC Code). Mr Ryall consents to the inclusion in the report of the matters based on
his information in the form and context in which it appears.
The information in this report that relates to exploration results is based on information compiled by Mr John Williams, who is a
member of the Australasian Institute of Mining and Metallurgy. Mr Williams is a full time employee of A1 Minerals Limited and has
sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is
undertaking to qualify as a competent person as defined in the 2004 Edition of the “Australian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves”. Mr Williams consents to the inclusion in the report of the matters based on his
information in the form of context in which it appears.