new drilling results out...

Summary
• 19 RC holes were drilled for a total of 2,650 metres at a nominal grid spacing of
100 metres in late March 2007.
• Assay results recently received and compiled by the Company indicate the
presence of massive Fe mineralisation with individual grades of up to 69% Fe
with the highest average grade being 66.8% Fe for 34 metres.
• Drilling also indicates the presence of significant cumulative thicknesses of high
grade mineralisation with the best result being 108 metres @ 62.17% Fe.
• Cumulative thicknesses of between 26 metres and 108 metres of +60% Fe
mineralisation were intersected in 13 RC drill holes.
• Drilling indicates that the high grade mineralisation remains open to the north
and west.