HIGHLIGHTS • Allied Gold’s 100% owned Simberi Oxide Gold Project, located in offshore Papua New Guinea, produced first gold in February 2008 • Simberi produced 18,894 oz of gold for the March quarter at a cash cost of AUD$363 per oz • Letter of Intent signed with Barrick Gold Corporation (Barrick), the world’s pre-eminent gold producing Company, whereby Barrick will individually fund up to AUD$20 million of expenditure in order to gain a 70% interest in the exploration licence that encompasses Big Tabar and Tatau Islands • Barrick subscribed for 17,647,059 fully paid ordinary shares in Allied Gold at $0.85 per share upon execution of the Letter of Intent, thereby injecting AUD$15 million into Allied Gold • Drilling continues to deliver highly encouraging results on areas located outside of the current mine plan. Best results previously announced in exploration updates include: • 8m at 5.51 g/t gold from 1m at South Samat • 7m at 4.49 g/t gold from 1m at South Samat • 6m at 3.52 g/t gold from 5m at Sorowar West • 13m at 2.20 g/t gold from surface at Sorowar West • 22m at 2.14 g/t gold from surface at South East Sorowar • 5m at 4.81 g/t gold from 75m at South East Sorowar • 9m at 6.19 g/t gold from 41m at South East Sorowar
ALD Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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