mt carlton drilling program

Market Update
25 August 2006
MT CARLTON DRILLING PROGRAM
Further to our last announcement to the ASX on 16 August 2006 Conquest Mining Limited
(ASX Code: CQT) advises that it has progressed its drilling program with two rigs at Silver
Hill. A diamond core drill rig has been engaged to duplicate recent high grade gold and
silver intersections, and reverse circulation drilling seeks to extend the resource.
Diamond drill holes HC06DD004 (parallel to hole HC06RC39) and HC06RCD58 (parallel
to hole HC06RC53) have been completed and drill core samples will be dispatched to the
assay laboratory mid next week. A 24 hour shift for the diamond drill rig is scheduled to
commence shortly.
The reverse circulation percussion drilling rig has completed 3 exploration holes and a
scissor hole in hole HC06RC39 is in progress.
Drilling is planned to continue for the remainder of the year with the objective of defining
the extent of the new Silver Hill deposit.
SALE OF TENEMENTS
Conquest is pleased to announce that it has recently completed a sale transaction with
Northern Resources Ltd for the sale of 5 non-core Queensland tenements (EPM 14944,
EPM14946, EPM 15512, EPM15531 and EPM15532). In keeping with the company’s
objective of progressing its Mt Carlton project, the disposal will allow the company to direct
its personnel and material resources to the current gold/silver/copper development. As
consideration for the sale, Conquest will receive 5 million fully paid shares and 5 million
options in Northern Resources Ltd. The purchaser proposes to combine these tenements
and other assets in a new IPO.
John Terpu
Managing Director