early warning drilling to commence

For Immediate Release
25th May 2007
ARGO RECEIVES CLEARANCES AND APPROVALS TO COMMENCE
DRILLING AT INTERCEPT HILL – DRILLING TO COMMENCE IN
APPROXIMATELY THREE WEEKS
Argo Exploration Ltd (ASX Code ‘AXT’) advises today that Work Area Clearance
surveys have now been conducted at several proposed drill sites by the Barngarla and
Kokatha Native Title Claimant groups with a number of high priority sites being cleared
for drilling. In addition, the Department of Primary Industries and Resources, South
Australia ( PIRSA) has granted Argo all work approvals required to commence the
contemplated drilling program.
Boart Longyear Pty Ltd are contracted to carry out the initial drilling program involving
four to six holes up to 1200 meters vertical depth. The initial program is designed to
evaluate specific geophysical targets interpreted to reflect possible Olympic Dam-style
iron oxide copper-gold-uranium basement mineralization. Drill testing is anticipated to
commence as soon as the contracted rig becomes available which is expected to be in
approximately three weeks.