SUMMARYGeological reconnaissance and initial sampling has been...

SUMMARY
Geological reconnaissance and initial sampling has been completed at Mt Andewa (EL 1345) and results from
107 samples have been received. The program was conducted by JV partner South Pacific Minerals Corp
(TSX-V: SPZ) in the caldera of an extinct, Pleistocene strato-volcano and was the first exploration in the subdistrict
for ~16 years. TasGold has a 15% free carried interest to completion of a bankable feasibility study
and financial closure, plus 14.5% (3M shares) direct equity in South Pacific for an effective 27.3% interest in
the project.
The best continuous chip channel samples of quartz veins included: 3m of 14.26 g/t gold (containing 1m of
21.9 g/t), 5m of 8.61 g/t, 2m of 4.86 g/t, 6.7m of 1.2 g/t, 6m of 1.21 g/t, 1m of 5.90 g/t and 1m of 5.41 g/t gold.
A peak of 87 g/t silver in a 1m channel sample was noted and more than 90% of the samples collected were
mineralised at >0.1g/t gold.
Siliceous breccia veins averaging ~3m in width are noted within a 1000m long zone at Komsen Prospect that
contains a 250m section historically averaging 4.93 g/t gold. Previous trench assay results included up to:
15.6m of 5.12 g/t, 9m of 6.44 g/t, 9m of 5.64 g/t, 6m of 8.49 g/t, 15m of 1.83 g/t and 5.9m of 3.86 g/t + 5.1m
of 3.27 g/t gold.
Management believe the gold mineralised silica-clay veins at Komsen offer attractive exploration targets.
There is also the possibility that large-tonnage, bulk-mineable lower-grade epithermal gold mineralisation
could occur in a favourable tuff horizon proximal to the silica-clay veins, that are hosted by more competent
overlying andesites.