New Copper Hill Resource Estimate

197 million tonnes at 0.31% copper and 0.26 g/t gold at Copper Hill…

Resource estimates at Copper Hill have been performed by Dr Phillip Hellman, FAIG, who is a Director of Hellman & Schofield Pty Ltd (“H&S”) and who qualifies as a Competent Person under the meaning of the 2004 JORC Code. He consents to the inclusion of these estimates, and the attached notes, in the foirm and content in which they appear.

The new Copper Hill geological resource is 197 million tonnes at grades of 0.31% copper and 0.26 g/t gold and is an increase of 24 million tonnes from the previous estimate released in October 2010.

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