KELIMAIZINA

The Kelimaizina gold project is being further reviewed and joint venture opportunities assessed.

Has completed three auger drill programmes centred on the former Kelimaizina laterite open cut. A total of 363 auger holes were drilled for 459 samples. The auger drill results have defined a strong, coherent zone of surface gold mineralization. Using as a cut-off the 200 parts per billion contour, the mineralised zone extends for approximately 500 metres in a north south direction and varies to approximately 100 metres in an east west direction.Mineralisation appears to occur where there is a change in strike, from the regional northeast - southwest trend, to a north - south trend. This change in strike can be inferred to represent a dilational jog structure.

A reconnaissance diamond drilling programme was completed , consisting of three diamond drill holes for a total advance of 226 metres that targeted the primary mineralisation below the existing open pit. These drill holes encountered a number of thin zones of quartz veining and sulphide mineralisation. Sampling of this drilling was generally disappointing, however assaying confirmed the presence of gold mineralisation.