Bronzewing UpdateThe Board of Directors of View Resources...

Bronzewing Update
The Board of Directors of View Resources Limited met on the site of the Bronzewing mine yesterday to review the January performance and the outlook for the immediate future.
The Company wishes to advise the following:-
• January production was approximately 6,500 ounces compared to an expectation of around 10,000 ounces.
• The tonnes milled were close to budget but the reconciled head-grade was below forecast.
• Management is working to understand and resolve the grade short-fall.
• It is now considered unlikely that the forecast of 30,000 ounces for the first quarter of 2008 will be met.
The Board has agreed on the immediate course of action:-
• Calista underground capital development has been suspended and further significant operating cost savings are being implemented across the whole mine site.
• Immediate future production is being focussed on the Central open pit and the Discovery and Calista underground mines where significant tonnages of ore have already been developed for stoping.
• Mining from the Success pit has been re-scheduled until the June quarter to further improve short-term cash flow.
• A complete review of the various ore sources and production schedules is being undertaken to maximise the return from available assets.
The Company wishes to advise that the previously-announced sale of Carnilya Hill is on schedule for imminent conclusion.