more information in the 3rd and 5th paragraph..timelines &...

more information in the 3rd and 5th paragraph..timelines & qualification of significance of fine based on past exploration in the area.


Spectacular drilling result at Ballarat East

Ballarat Goldfields NL (BGF) is pleased to announce that it has again intersected
significant mineralisation at the Ballarat East project. Diamond drill hole
BDD025B, returned a true width, weighted average assay grade of 30 metres @
24g/t gold, from a depth of 562 metres down-hole.
The intersection is interpreted to be the continuation of an ore shoot, already intersected 100m
further north, which included previously reported gold intersections of 5.1 metres @ 11.3g/t, 6.0
metres @ 9.0g/t and 1.55 metres @ 42.4g/t.
This ore shoot is located approximately 350 metres below the current decline position at the
southern end of Ballarat East and will be accessed within the first two years of production.
BGF Managing Director, Mr Richard Laufmann said, “The most pleasing and important outcome
is that our ongoing drilling success continues to demonstrate the robustness of BGF’s geological
model, which has already delivered over 1 million ounces of Inferred Resource at a very low
discovery cost.”
“It is encouraging and significant that these ore shoots at the southern end of Ballarat East are
similar in size to the large high grade ore shoots defined by drilling in the northern part of the field,
where most of the current Inferred Resource is located.”
“From the drilling to date, it also appears that the grades of the ore intersections, at depth, are
significantly higher than the historical average grades achieved from the shallower old mines,
which rarely went deeper than 300 metres on the East field.” Mr Laufmann said.
“BGF’s continuing ability to intersect high grade gold will allow it to better define its resource and
reserve base in advance of the development program as drilling continues,” he said.