ASX Release – 20 March 2008EXPLORATION & RESOURCE DRILLING...

ASX Release – 20 March 2008
EXPLORATION & RESOURCE DRILLING UPDATE
Heron Resources Limited (ASX: HRR) (“Heron”) is pleased to announce the results from drill programs at Aubils, Boyce Creek, Jump-up Dam and Pianto Road.
At Boyce Creek, drilling has been underway to form the basis for an updated resource estimate.
Resources at Boyce Creek currently stand at 18.4 Mt grading 0.82% Nickel in the inferred category. At Aubils, work is underway for the initial resource estimate. A total of 341 holes for 16,195 metres were completed at Boyce Creek and 290 holes for 17,541 metres at Aubils. The Boyce Creek program included 8 Sonic Core holes (150mm diameter) for 329 metres which are providing geotechnical data as well as ideal samples for beneficiation test work. During the course of Boyce Creek drilling a number of significant drill intersections were received and are summarised in Table 1.
During the last 9 months drilling has been ongoing at Jump-up Dam reducing the drill spacing down to 40mX40m over the key resource areas and down to 20mX20m and 10mX10m in two regions on the deposit for the purposes of ore type and grade continuity investigations and grade control for trial mining. Resource estimation is currently underway on this data to provide a more accurate resource model for use in the atmospheric leach studies. A total of 774 new drill holes for 37,500 metres will be included in this resource model as will results from the close-spaced control drilling and mining reconciliation.
HIGHLIGHTS
�� 16,195m of drilling completed at Boyce Creek – updated Resource estimate underway
�� Significant Nickel Laterite intersections from Boyce Creek drilling
�� 17,541m of drilling completed at Aubils – initial Resource estimate underway
�� Reconnaissance drilling intersects new Nickel Laterite zone at Pianto Road – Assays pending
�� Close spaced drilling at Jump-up Dam – increased confidence Resource estimate underway
�� Drilling results show potential to expand current Atmospheric Leaching scoping study to encompass a multi deposit Nickel Laterite operation

Exploration & Resource Drilling Update 2
Reconnaissance RC drilling comprising 55 holes for 2,526 meters was recently completed at the Pianto Road nickel laterite prospect, located some 25km south-west of Jump-up Dam. A zone of nickel laterite some 40-100 metres wide has been intersected on the 480 meters spaced lines over a strike length of some 1.4 kilometres. Assays for this drilling are pending.
Heron Resources Managing Director, Mr Mathew Longworth, said that Heron has maintained a rapid pace of exploration and resource drilling over the past few months.
“We have a continuing exploration and development program progressing over a number of regional targets in the Kalgoorlie area, with substantial amounts of drilling just completed,” said Mr Longworth.
“We have some good results from Boyce Creek, and Resource estimation work underway at Aubils, Boyce Creek and Jump-up Dam. We would expect the increased confidence Resource at Jump-up Dam to be completed first, with Boyce Creek and Aubils to follow.”
“The results we are seeing from all of these locations are suggesting that a Nickel Laterite Atmospheric Leaching operation based on multiple deposits may be possible. We will be expanding the scoping study to evaluate this possibility, along with the use of beneficiation in treating the Nickel Laterite ore.”
“Dependent upon the study results, an expansion to a multi deposit operation has the potential to
significantly modify the financial parameters of the project.”
To distinguish the ongoing work Heron is conducting outside the Kalgoorlie Nickel Project with Vale Inco, Heron has collectively named the Aubils, Boyce Creek and Jump-up Dam areas the “Yerilla Project”. Future discoveries outside the KNP, such as the potential find at Pianto Road, may also form part of the Yerilla Project.
Based on resources reported to the ASX during 2007, the Yerilla Project has total resources in the Indicated and Inferred categories of 84 million tonnes at 0.73% nickel based on a 0.5% nickel cut-off grade.