AUSTRALIAN UNITED GOLD LTD ACN 008 982 474 1st Floor, 8 Parliament Place West Perth WA 6005 PO Box 1618 West Perth WA 6872 Tel: (08) 9481-7833 Fax: (08) 9481-7835 Email: [email protected] Website: www.austunitedgold.com 21 July 2006 The Manager - Companies Australian Stock Exchange Limited Exchange Centre 20 Bond Street SYDNEY NSW 2000 Dear Sirs, MANINDI RESOURCE STATUS Australian United Gold Ltd wishes to clarify the status of the zinc resources at its Manindi Zinc Project in the Murchison Mineral Field of Western Australia. The Manindi zinc resources are contained within four zones, namely Kultarr, Kowari, Mulgara & Warabi. These resources are JORC compliant and were calculated by Geochemex Australia in 2000, on behalf of the previous owners of the Manindi project. The global JORC resource for Manindi, at a >1% Zinc Cut-Off Grade, is: Measured & Indicated 729,670t @ 7.71% Zinc Inferred 322,970t @ 7.49% Zinc TOTAL RESOURCE 1,052,640t @ 7.64% Zinc* *These resources do not include the results from the latest round of drilling, completed in June.. The JORC complaint resource inventory, at >1% Zinc Cut-Off Grade (to 200 metres below surface), is detailed below: Warabi (Zone A) Measured 45,060t @ 8.91% Zinc Indicated 52,390t @ 8.76% Zinc Inferred 21,900t @ 6.58% Zinc Subtotal 119,350t @ 8.42% Zinc Mulgara (Zone B) Measured 116,570t @ 7.76% Zinc Indicated 92,850t @ 7.65% Zinc Inferred 8,820t @ 9.17% Zinc Subtotal 218,240t @ 7.77% Zinc Kultarr (Zone D Nth) Measured 155,710t @ 7.63% Zinc Indicated 212,180t @ 7.69% Zinc Inferred 235,250t @ 7.66% Zinc Subtotal 603,130t @ 7.66% Zinc Kowari (Zone D Sth) Measured 17,570t @ 5.45% Zinc Indicated 37,340t @ 6.24% Zinc Inferred 57,010t @ 6.86% Zinc Subtotal 111,930t @ 6.43% Zinc Total Measured 334,910t @ 7.73% Zinc Total Indicated 394,760t @ 7.68% Zinc Total Inferred 322,970t @ 7.49% Zinc TOTAL RESOURCE 1,052,640t @ 7.64% Zinc Despite excellent results from the recent drilling program, the resource inventory at Manindi has yet to be recalculated due to the ongoing evaluation of these resources and an active drilling program. A program of resampling is currently being undertaken on the RC drilling completed in June, while a program of diamond drilling and down hole EM studies are due to commence in mid-August. Competent Person Declaration The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Tim Putt of Exploration & Mining Information Systems, who is a member of The Australasian Institute of Geoscientists, and Allan Younger, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Younger was engaged as a consultant through Geochemex Australia to prepare the resource statements contained in this report for the Valdera Resources Limited Prospectus in September 2000. Both Mr Putt & Mr Younger have 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, Mineral Resource and Ore Reserves”. Both Mr T. Putt & Mr A. Younger consent to the inclusion in this report of the matters based on their information in the form and context in which it appears. Yours faithfully Bruce McCullagh Company Secretary
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