REVISED ORE RESERVE AND EXPANSION UPDATE – LADY ANNIE COPPER...

REVISED ORE RESERVE AND EXPANSION UPDATE – LADY ANNIE COPPER PROJECT
• Lady Annie Project Ore Reserves revised based on Mineral Resource increases,continuing strength in copper prices and incorporating operating cost data that reflects actual operating experience over the past year.
• Updated Ore Reserve for the Lady Annie Project stated at 15.3Mt at 0.94% Cu for 144,000 tonnes contained copper, largely unchanged from the January 2007 statement (ASX Release of 16 January 2007) reflecting positive reserve replacement of ore mined and treated to date from the Mount Clarke deposit.
• Updated mine planning that includes Inferred resources shows a mine inventory of 17.1Mt ore to be mined and treated as of 1 June 2008 at an average grade of 0.93%
Cu containing 159,000 tonnes copper.
• Expansion to 30,000tpa well advanced with production ramp up to 25,000tpa scheduled for late December 2008 and 30,000tpa by mid 2009.
• Exploration continues to develop oxide copper potential and the focus over 2008 and 2009 will seek to further increase global Mineral Resources and Reserve replacement.