Third Quarter 2004

Posted on 30/09/2004

Highlights:

Australia

WESTERN AUSTRALIA - TELFER GOLD EXPLORATION

Deep diamond drilling currently being conducted by Barrick Gold of Australia Limited

WESTERN AUSTRALIA  - MOUNT ELVIRE GOLD/BASE METALS EXPLORATION

Encouraging rock chip samples return grades of up to 3.6 g/t gold and 13% copper

Africa

NAMIBIA - TSUMKWE DIAMOND EXPLORATION,

One very fresh (Class 4) kimberlitic garnet recoverd from loam sampling

BOTSWANA  -  KIHABE BASE METALS EXPLORATION,

Metallurgical testing yields recoveries of up to 94% for zinc, 96% for lead and 91% for silver.

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