'First silver bars expected May 2011' Ann:8 April...

'First silver bars expected May 2011'

Ann:8 April 2011

-Re-irrigation of existing silver-rich heaps at the Twin Hills mine, SE Queensland now underway
following completion of Storm Water Dam (SWD) remediation works.

-400,000t of leachable material available on the heaps with an average estimated grade of 45g/t
Ag - metallurgical test work indicates that ~45% of the remaining silver can be extracted.

-Twin Hills construction programme on schedule with commissioning for full-scale commercial
silver extraction scheduled to commence in the September Quarter of 2011.

-Strengthening silver price prompts decision to re-optimise Mineral Resource inventory ahead
of FINAL ORE RESERVE CALCULATIONS

-For the past three months, the silver price has been trading in the range of A$34-36/oz - more than 70% above the CONSERVATIVE PRICE of A$19.85 used in earlier studies.

-studies will be completed during April

Comments from MD Andrew King

"We have made rapid progress at Texas - acquiring the mine in late 2009 and completing a broad-based economic and technical review by late 2010. It is a credit to our team that we are now positioned to commence early silver production from re irrigation of the heaps only 18 months after first hitting the ground,"

"It is also pleasing to be starting production at a time when silver prices are exceptionally strong, which I expect to be reflected in the results of the NEW RESOURCE and RESERVE STUDIES currently underway. With our UNIT CASH OPERATING COSTS FORECAST at APPROXIAMATELY A$14/OZ, the Twin Hills operation should be capable of generating an EXCEPTIONALLY STRONG CASH MARGIN,"Mr King added.

And backed up by the charts,i know where my hard earned $$$$ is parked for the next few months...




Cheers

Sheeza