tag alley results

Mantle Mining Corporation Limited (ASX: MNM) “Mantle”, is pleased to advise that drilling operations have been completed at the company’s 100% owned Granite Castle Gold and Silver Project in North Queensland and that laboratory results for the first of the four areas drilled have been received:

Highlights:

? The Granite Castle Project is Mantle’s most advanced gold project. It contains a large swarm of gold-silver mineralized shears including a JORC Code Compliant Resource1 (see last page for details) in a 600 metre portion of one shear.

? With over 14 linear kilometres of similar shears identified to date, in close proximity to the existing JORC compliant shear, there appears to be excellent potential to deliver a major expansion of the resource base.

? 43 Reverse Circulation (RC) holes were recently drilled for a total of 4,107 metres and Mantle intends to release laboratory results in batches as they come to hand.

? The four areas drilled are shown on Figure 1 and consist of the following areas drilled in chronological order; Tag Alley & Anron area (lower grade breccia targets), Edwards area (main target area with tightly packed cross cutting shears), Davron & Telstra Tower area (early stage targets) and Coronation area (main target area with historic higher grade intercepts).

? The Tag Alley & Anron area results are shown in Table 1. The results for this area are in line with expectation for an early stage, lower grade, bulk target:

o Tag Alley holes have confirmed broad widths of low grade gold mineralisation below similar grades obtained by previous explorers. TARC006 intersected values to 1m @ 1.5g/t Au at depth below equivalent grade surface rock chips.

o Holes drilled at Anron suggest that the mineralisation is less well developed in the structure at this location.

? The Edwards area was the next target drilled and as such
is expected to be the next area reported on once all laboratory results are to hand. Holes drilled at Edwards successfully intercepted a number of shears from surface to depth.

? The Edwards and Coronation target areas are expected to yield the best outcomes as they have been previously drilled and rock chipped and displayed gold and silver grades of a similar nature to the existing Granite Castle JORC Compliant resource base.