potential of mt kasi system and “enhanced case” mi

Date: 8th September 2004

Potential of Mt Kasi System and “Enhanced Case” Mining Scenario

The drilling results reported thus far from the present campaign have all been from an area falling within the mining lease area SML57. The distribution and grade of results over this 2.5km strike length within the mining lease demonstrate the potential for a much higher tonnage within the Mt Kasi mineralised system understood to be located within the Company’s prospecting licences which cover an area of 370 square kilometres.

The results of drilling to date also suggest there is depth potential within the immediate system which remains untested as evidenced by significant intersections at Kasi South and at Paro, as well as within the undrilled balance of the Mineral Hill deposit.

Whilst a short term target of 250,000 ounces has been adopted to justify a minimum base case scenario for a +/- 500,000 tonne per annum mining and processing operation to produce 50,000 ounces of gold per year, the Company believes that the Mt Kasi mineralised system has the potential to host much larger ore tonnages typical of established epithermal gold deposits that occur within the Pacific Rim.

Internal conceptual modelling completed by the Company indicates that considerable economies of scale and other benefits could be derived from a larger, throughput operation, with considerable improvements to project net present value (NPV) and return on investment.

In the medium term the Company intends to further evaluate this “enhanced case” scenario by drill testing targets lying within the Company’s Mining Lease as well as its Prospecting Licences.

Previously reported undrilled targets within the Mining Lease and Prospecting Licences which the Company believes now assume greater significance include the following historical results (refer 2003 Annual Report at pages 9 & 10):

Prospect Previous Exploration Activity Best Results from Previous Exploration

Kasi Cliff: Drill intercept 8m @ 4.3 g/t Au (to be tested in current campaign)
Waidamudamu Drive sampling 120 m @ 12 g/t Au
Cresswells Costean sampling 20 m @ 7.8 g/t Au;
40m @ 4.2 g/t Au
Naduna Underground sampling 18 m @ 19.5 g/t Au
Nasoni Costean sampling 4m @ 7.1 g/t Au
Tavea Rock chip sampling Up to 74.0 g/t Au
Naravuka Rock chip sampling Up to 378 g/t Au

Yours faithfully
Burdekin Pacific Limited
Jerome G Vitale
Director and Chief Executive

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