Shambesai Gold Project

The Shambesai Prospect is a high-grade gold discovery, with a Mineral Resource of 645,000 ounces of gold.

Shambesai contains a significant high-grade oxide portion with more than 250,000 ounces of high-grade oxide resource at 5.7 g/t gold (2.5 g/t gold cut-off) from a total oxide resource of 330,000 ounces at 3.3 g/t gold.We have now accelerated mining and processing studies on the high-grade oxide component.

In May 20009 we reported an inaugural Inferred Mineral Resource of 390,000 ounces of gold. We have since grown the resource to 645,000 ounces. The best high-grade results included 21m at 12.6g/t gold, 21.8m at 4.92g/t gold and 23m at 4.09g/t gold.