update - niue island minerals project

No placement for now thats good for holders



COMPANY ANNOUNCEMENT
UPDATE – NIUE ISLAND MINERALS PROJECT
5 September 2005 : Yamarna Goldfields Limited (ASX – YAM) announced today that it has
commenced its initial sampling program for uranium, gold and base metals on Niue Island. A
geological team arrived at Niue and will be conducting on-ground sampling over the next 7 days.
As part of the due diligence programme the company’s consulting geologist Mr Geoff
Blackburn, has been provided with a report authored by Mr Arthur Y Smith in May 1979. Mr
Smith was an independent consultant engaged by the International Atomic Energy Agency
(IAEC) in Vienna to report to the Niuean government under a United Nations development
project on the Uranium exploration programme that was taking place at that time. His detailed
report (UNDP report number NIU-78-006) confirms the highly radioactive nature of the soils on
Niue Island but concludes that “the possibility of locating an exploitable and economically
attractive Uranium deposit on the island is slight.”
As part of the ongoing due diligence programme announced to the ASX on the 15 August 2005,
the company will consider this report in the context of the advances in exploration techniques,
concepts and methodologies that have occurred since the report was written and the surface
sampling programme currently underway. The samples will be collected this week and
dispatched to Australia for assay. Results will be reported as soon as they are available.
For And On Behalf Of The Board
Richard Revelins
Director
Geoff Blackburn has sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person
as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results. Geoff
Blackburn consents to the inclusion in the report of the matters based on his information in the form and
context in which it appears.