Whilst this is good news that some have been waiting for, it is...

Whilst this is good news that some have been waiting for, it is not the main story.

I'm sure they have Bigger and Better things to come later in the week!!!!!!!!!!!!!!




Level 2, 45 Richardson Street, West Perth WA 6005 PO Box 568 West Perth WA 6872 t: 61 8 9481 2433 f: 61 8 9322 5907
www.halcyongroup.com.au
ASX Announcement & Media Release
7 August 2007
HALCYON ACQUIRES URANIUM-NICKEL PROJECT
Highlights
• Halcyon acquires Goongarrie East Project, expanding the Company’s uranium and nickel interests in the Goldfields region
• The 366 km2 tenement area, acquired from Monarch Gold Mining Company Ltd, is adjacent to the Halcyon’s Lake
Marmion Uranium Project
• The area is prospective for palaeochannel/sedimentary type uranium mineralization
• In addition, the Goongarrie East Project contains the interpreted northern extension of the ultramafic belt that hosts the
Black Swan/Silver Swan Nickel Sulphide Deposits
Halcyon Group Ltd (ASX: HCY) has acquired a promising uranium and nickel exploration project at Goongarrie East, 130
kilometres north of Kalgoorlie.
Managing Director Iggy Tan said today that the acquisition, from Monarch Gold Mining Company Ltd (ASX: MOR), would
extend Halcyon’s uranium interests in the area – and add a significant new prospect to the Company’s nickel portfolio.
“The area is prospective for palaeochannel/sedimentary type uranium mineralisation and contains an interpreted extension of
the ultramafic belt that hosts the Black Swan/Silver Swan Nickel Sulphide Deposits,” he said.
The northern half of the 366 square-kilometre project abuts the Company’s Lake Marmion Uranium Project. This area contains
radiometric uranium anomalies and interpreted palaeochannels sourced from the uranium bearing Lake Marmion area. Most
of these targets sit within granted tenure and are therefore immediately available for drill testing.
Mr Tan said that the Company had commissioned a gravity survey and a surface sampling program at Lake Marmion. Both
programs were due to commence shortly.
“This acquisition will add a significant area of prospective ground to our play for uranium mineralization at Lake Marmion,” he
said.
“It is a very exciting and potentially valuable acquisition”.
“In addition, the southern half of the Goongarrie East Project contains the interpreted northern extension of the same
ultramafic belt that hosts the Black Swan/Silver Swan Nickel Sulphide Deposits”.
“The tenure is only 40kms northwest and along strike from the Black Swan/Silver Swan Nickel Sulphide Deposits (170,000
tonnes of Nickel Metal) and only 11kms along strike of the Scotia East (GSP) Nickel Sulphide Deposit (86,000t @ 2% Nickel)”.
“The acquired project is another key step in the Company’s plan to take a more direct role in nickel exploration and
production”.
The Company acquired 100% of 318 km2 of the tenement (all of which is granted) from Monarch Gold Mining Company Ltd for
the sum of $50,000 (plus GST) and a 2% Net Smelter Royalty on mineral production. Halcyon recently applied for the
remaining 48 km2 of the tenement.
Iggy Tan
Managing Director/CEO
About Halcyon
Halcyon Group Limited is a Perth-based Nickel exploration and mining company listed on Australian Securities Exchange (ASX), exchange code
HCY. The Company’s primary focus is on exploring, realising and expanding the economic potential of the Lake Marmion, Mount Pleasant and
Bardoc projects in Western Australia’s Eastern Goldfields. Members of the Halcyon Board and management team have proven records in
mineral exploration, project development and project financing.
For further information please contact
Iggy Tan – Managing Director/CEO John Nayton – External Affairs
+61 8 9481 2433 0422 414 983
email: [email protected] email: [email protected]