prospective area at tally ho substantiall

MACMIN SILVER LTD
(A.B.N. 53 056 776 160)
P.O. Box 7996 Telephone: (07) 5592 2274
Gold Coast Mail Centre Facsimile: (07) 5592 2275
Queensland 9726 Email: [email protected]
AUSTRALIA Internet: www.macmin.com.au

ASX Announcement 11th February 2008


PROSPECTIVE AREA AT TALLY HO SUBSTANTIALLY ENHANCED



• Drilled area at Tally Ho less than 5% of prospective area as defined by soil sampling.
• Resource estimate at Tally Ho to be completed by end of March 2008.
• Surface rock samples from 750m south-west of Tally Ho give similar assay results to
Tally Ho.


Macmin Silver Ltd has recently engaged Groundwork EMS Pty Ltd, a resource consultancy
based in Brisbane, to complete a resource estimate at our Tally Ho Project. This work will
utilise drilling data generated from our programmes completed in 2006/2007 [Figure 1].
Groundwork EMS Pty Ltd has given an undertaking to have this work completed by the end of
March 2008 and will employ suitably qualified staff to complete the resource estimate in
accordance with the guidelines of the JORC Code (2004).

It should be pointed out that the area on which the resource estimation will be conducted only
represents a small portion of the total area which has been subjected to the recent soil
sampling and mapping (ASX release dated 16 January 2008). The geochemical survey and
mapping have significantly expanded the prospective area of interest and identified additional
zones of coincident metal anomalism of similar magnitude to that seen over the central Tally Ho
prospect (the area drilled to date) thus providing drill targets to be drill tested once the wet
season has abated.


Recently received rock chip results from newly identified outcrops of breccia have also returned
some very encouraging results. Table 1 displays results of rock chip samples with greater than
1g/t silver. Samples (650977, 650978, 650981 & 650982) collected 750m south-west of the
drill area have similar magnitude silver values but much stronger gold values (up to 2.58g/t
gold) to that seen in samples returned from the central Tally Ho prospect area.
This area along with a number of coincident soil anomalies, as mentioned above will be drill
tested once the wet season is over. Additional mapping, soil sampling and rock chip sampling
will also be carried out beyond the area sampled and mapped to date.


Yours faithfully,
MACMIN SILVER LTD
Garry Edwards
CHIEF EXECUTIVE OFFICER