Redbank Mines LimitedThe known copper mineralization at Redbank...

Redbank Mines Limited

The known copper mineralization at Redbank is contained mainly in a series of discrete volcanic breccia pipes. There has also been some primary dispersion of copper laterally into the host rock stratigraphy and by supergene processes. There is considerable potential to increase resources by further drilling around and beneath the known breccia pipe hosted mineralisation. There are also multiple targets where limited previous drilling has intersected high grade near surface mineralisation potentially associated with as yet unrecognized mineralized breccia pipes or stratabound mineralisation styles.

Exploration priorities at Redbank beyond the current drilling program and existing resource envelopes are (refer Figure 1):

(1) Testing depth and some lateral extensions of the defined resources at The Bluff, Punchbowl and Sandy Flat breccia pipes.

(2) Following up on the near surface high grade drill hole intercepts including those at the historical Redbank and Azurite workings.

(3) Assessing existing exploration targets in the surrounding tenement ERL 94.

Exploration programmes focussed on these priorities are planned for later in 2007 after the completion of the current drilling program.
Yours faithfully,
Redbank Mines Limited
Jerome G Vitale
Managing Director
Note:
The announcement refers to a detailed statement of Mineral Resources at the Redbank Copper Project contained in the 2006 Annual Report based on information compiled by Phil Jankowski, who is a Member of The Australasian Institute of Mining and
Metallurgy. Phil Jankowski is a full-time employee of SRK Consulting (Australasia) Pty Ltd, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the (2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’). Phil Jankowski has approved the inclusion of the statement in the Annual Report in the form and context in which it appears.