quarterly, page-2

Very positive ann & looks cheap at the moment.

"June 2007 Quarterly Report Exploration Highlights

· Best ever intersection recorded from the Maitland copper ­ molybdenum prospect at the Greenvale Project in North Queensland 57 metres @ 2.58% copper from 75 metres depth including 13 metres @ 6.31% copper from 104 metres. 6 metres @ 0.49% molybdenum intersected from 87 metres. The recent drilling at Maitland has confirmed the continuity of high grade copper and
molybdenum mineralised zones which remain open at depth.
· Potential for at least two additional zones of copper mineralisation identified at Maitland from geochemical surveys. Separate programs of soil sampling and shallow drilling
confirmed copper anomalies north and south of the existing copper resource.
· Results from drilling at the Crackpot prospect at the Cannington Project in western Queensland returned strongly anomalous uranium (up to 0.9 lbs/t U3O8) associated with elevated silver (up to 10 g/t). Results confirm the potential for significant uranium
mineralisation at Cannington and follow up work is in progress."