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Tel: +61 7 3833-3833 Level 6, 200 Creek Street, Brisbane Postal Address:
Fax: +61 7 3833-3888 PO Box 728
Spring Hill Q
Australia 4004
3 November 2006
Company Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Dear Sir
Re: Second significant copper intersection at Mehdiabad
Union Resources Limited (Union) advises that sampling and assaying of drill hole 5302 on the
western side of the Mehdiabad zinc, lead and silver deposit in Iran has produced the following
result:
Cut off of 1% Copper:
40.1m @ 2.1% Cu from 92.9m
Cut off of 2% Copper:
21.1m @ 2.4% Cu from 92.9m
The copper mineralisation is hosted by hematitic (and goethitic) gossan with substantial
amounts of barite, at the base of the Abkouh Formation, which is stratigraphically located
above the zinc, lead, silver resource, predominantly in what has been regarded as waste
rock, in the proposed Mehdiabad super pit. The average core recovery for the whole zone is
74.4% with core loss due to poorly consolidated sections within the gossan. Core recovery
for the higher grade zone was 89%.
Hole 5302 is located approximately 120m north of drill hole 8416, which recorded a zone of
35m @ 4.3% Cu from 167m from the same stratigraphic position, and hence the intersections
are considered significant.
However, Union is awaiting the results of about 9 more holes currently being assayed, prior to
having an independent copper resource estimate made.