BLAYNEY

Goldminco announced an update on it’s recent exploration activities at the Tick Hill, Blayney and Temora projects in Australia. Highlights on the Tick Hill Project include the delineation of a 1 km x 200 m copper/gold/cobalt soil geochemical anomaly at the Spring Creek prospect. On the Blayney Project, a strong IP chargeability anomaly associated with a resistivity high was identified at the Bluebird prospect and an IP survey targeting structurally controlled copper/gold mineralised systems below the Tertiary basalt cover was commenced. On the Temora Project, an 8,000 m drill program is planned.

Two additional reverse circulation holes were drilled to target the down dip continuity of gold mineralisation within the Western Lens. Drilling generally intersected silica-pyrite altered sediments of the Adaminaby Group along with silica-pyrite-pyrrhotite altered volcaniclastic sandstones of the Coombing Formation at depth. Multiple, moderate to high grade gold intersections were recorded in both holes with DRRC100 recording 5 m @ 10g/t Au from 179m. Assay results indicated strong multi-element anomalism at the Ewin South porphyry prospect within drillhole TWRC004, intersecting 3 m @ 0.48% Cu and 5g/t Ag with a second intersection recording 6 m @ 0.22% Cu, 6g/t Ag, 0.5g/t Au and 34g/t Mo.

The results of soil geochemistry collected during the previous quarter were received in addition to prospect mapping and rock chip geochemistry and the completion of a 12 hole reverse circulation drill program testing for porphyry related alteration and mineralisation. Highlights from soil sampling include: 1) a WNW trending Cu/Au anomaly 1.6km x 0.7km with peak values of 142ppm Cu and 27ppb Au on the east margin of the Blayney break. Small historical surficial workings referred to as the Bluebird mine occur to the immediate north. A large alluvial plain is located in the central portion of the anomaly. 2) a 2 point line Au anomaly peaking at 92ppb Au on the margin of the Moorilda magnetic complex. 27 rock chip samples were collected from prospects at Gallymont, Mandurama, Bunyar, Ewin South and Gully. Results from Gallymont failed to report any gold or arsenic anomalism. Additionally, no significant anomalism was recorded at Bunyar. The four samples from Mandurama contained anomalous copper to 427ppm within altered diorite. The samples from Ewin South consistently contained elevated arsenic (to 79ppm), lead (to 476ppm) and zinc (to 395ppm) within strongly albite/quartz/pyrite altered volcaniclastics. One sample from Ewin South also contained 19ppm molybdenum within strongly altered volcaniclastic in close association with monzonitic float material. Two holes were completed at the Pipeline prospect (TWRC001-2), two at Ewin South (TWRC003-4), one at Bunyar (TWRC005), one at North Bunyar (TWRC006) and two at the Kallybukka prospect (KBRC001-2). KBRC002 returned 6m @ 0.19g/t Au and 122g/t As from 171m.