1/4 out:$A11,561,000 cash at end of 1/4Results released during...

1/4 out:


$A11,561,000 cash at end of 1/4

Results released during the quarter and subsequently from drilling at Current Lake (Figure 3) and Beaver Lake (Figure 4) included the following excellent intersections:
Current Lake:
TBND061: 61.70m @ 5.61g/t Pt+Pd, 0.66% Cu & 0.38% Ni from 29.30m
including: 35.50m @ 8.83g/t Pt+Pd, 1.04% Cu & 0.57% Ni
TBND082: 32.70m @ 5.82g/t Pt+Pd, 0.68% Cu & 0.35% Ni from 17.00m
including: 21.70m @ 7.53g/t Pt+Pd, 0.87% Cu & 0.41% Ni
TBND092: 42.65m @ 6.47g/t Pt+Pd, 0.77% Cu & 0.40% Ni from 21.00m
including: 22.80m @ 7.98g/t Pt+Pd, 0.90% Cu & 0.44% Ni
TBND097: 48.50m @ 6.68g/t Pt+Pd, 0.84% Cu & 0.37% Ni from 43.30m
including: 18.25m @ 8.69g/t Pt+Pd, 1.04% Cu & 0.49% Ni
and: 7.20m @ 14.14g/t Pt+Pd, 1.73% Cu & 0.51% Ni Page | 2
Magma Metals Limited September 2008 Quarterly Report
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Beaver Lake:
BL08-50: 13.85m @ 4.77g/t Pt+Pd, 0.61% Cu & 0.28% Ni from 183.65m
including: 8.35m @ 6.13g/t Pt+Pd, 0.75% Cu & 0.30% Ni
BL08-57: 6.75m @ 6.88g/t Pt+Pd, 0.85% Cu & 0.46% Ni from 313.00m
including: 3.25m @ 10.30g/t Pt+Pd, 1.28% Cu & 0.67% Ni
BL08-61: 28.95m @ 4.29g/t Pt+Pd, 0.60% Cu & 0.38% Ni from 323.00m
including: 8.75m @ 6.98g/t Pt+Pd, 1.00% Cu & 0.62% Ni
The ratio of Pt to Pd in these intersections is approximately 1:1; this is a consistent ratio in all the drilling so far conducted at the project.