Exploration News 1998

Current Exploration News

Pacific Mining Corp (24 December 1998)

Pacmin has increased its ground position at the Tarmoola gold mine through a tenement swap with Sons of Galia. Pacmin sold its interest in the Marvel Loch area in exchange for 3 tenements at the "strong end of the (Tarmoola) orebody". These tenements were virtually undrilled and untested.

Tiger International Resources (24 December 1998)

Tiger International resources Inc has commenced a drill program on the Springfield and Amity properties located in South Australia.Tiger has located numerous kimberlitic anomalies in recent months, following the drilling program conducted earlier in the year, and the follow up surface and undercover sampling conducted by staff geologists.

Cultus Petroleum (22 December 1998)

Cultus has reported strong oil flows in the offshore Taranaki Basin, NZ. The oil flows were better than expected and came from all 3 hydrocarbon zones tested.

Conquest Mining (21 December 1998)

Conquest's share price has jumped from 5.5 cents to as high as 25 cents - possibly due to the company signing an option to buy a 100% interest i several mining tenements in the Bow River and Ellendale diamond fields in WA. To exercise its option Conquest must pay $3.2 million and issue 7.5 million shares to the owners of Tudo Rose Holdings Pty Ltd, John and Doris Terpu.

Gallery Gold (21 December 1998)

GG has just received the backing of investment fund Lion Selection Group to help continue exploration on its promising Botswana gold project. LSG has agreed to take a $1 illion placement of 8.3 million shares at 12 cents each and underwrite a further $1 million placement to Gallery's major shareholders. The move will give LSG a stake of between 24% and 48% of Gallery.
Gallery has 3 mining leases with a combined resource of 364,000 oz of gold and an option over a mining lease with another 201,000 oz resource.

Normandy Mining / Otter Gold (21 December 1998)

Normandy and Otter have extended the life of the Martha mine in NZ by clearing up environmental concerns over the expansion of the operation. Production will be boosted from 85,000 to 110,000 oz at a cash cost of NZ$280/oz. The mine life would also be increased by at least 7 years to 2007.

Jubilee Gold Mines (18 December 1998)

Jubilee has reported some encouraging gold intersections on its Kathleen Valley tenements, 10km from the Cosmos nickel project in WA. Better intersections included 4.62m @14.4 g/t Au and 16.85m @6.90 g/t Au.

Boral Energy (17 December 1998)

Recent promising gas discoveries in SA's Otway Basin have prompted Boral to begin a $20 million exploration program - initially two $3 million greenfields exploration wells will be drilled in the north of the basin and a $1 milion seismic survey immediately south of the Boral/Omega/Cultus JV at Ladbroke Grove.
The JV also looks set to approve a further 6 appraisal wells (Cost $16.5 million) at the Ladbroke and Redman fields.

Normandy Mining / Johnson's Well Mining (17 December 1998)

Normandy says it has reached agreement with JWM on ground covering the majority of the Duketon Greenstone Belt in WA. Normandy will earn a 50% interest in the Rosemount gold deposit through an initial payment of $8 milion and a further contribution of $10 million to feasibility studies on the project. Delineation drilling is scheduled to commence in the first quarter of 1999.

Resolute / Titan Resources / Marymia Exploration / Homestake Mining (17 December 1998)

Resolute has sold its interests in the Marymia region of WA to Homestake. Homestake's wholly-owned Plutonic Operations has acquired 100% of Resolute's interests along those of its JV partner Titan Resources NL and Marymia Exploration for $14 million cash. Of that, Resolute will receive $9.7 million.

Perseverance Corporation / Cobra Resources (16 December 1998)

Perseverance has purchased exploration tenements at Walhalla (Woods Point-Walhalla Goldfield), 130km east of Melbourne from Cobra Resources. Perseverance will pay Cobra $528,000 by issuing 1.6 million shares at a deemed price of 33 cents.

MACMIN (15 December 1998)

The first two drill holes at the Crater Mountain Project (100% MACMIN) have been completed (total of 450m) and half core samples from the first hole have been despatched to the laboratory for analysis. Results should be available in late December or early January. Hole 3 is in progress.

Australian Oil & Gas / Roma Petroleum (14 December 1998)

AOG is preparing to drill an onshore target, on behalf of Roma, surrounding Esso - BHP's Longford oil and gas facility in the Gippsland Basin. Roma has identified 3 targets - McCreesh, O'Hara and Hurson. Drilling commenced at McCreesh last Thursday.

Ashton Mining (12 December 1998)

Ashton's Canadian subsidiary said it had found 2 more kimberlites at its Buffalo Hills area in Canada.

Macmin (10 December 1998)

SUMMARY

Encouraging gold values were encountered in Hole 1 at the Kabang Northeast Prospect, Feni Project. The Feni Project is within the Lihir Gold Corridor, and has similar geological characteristics to the Lihir Mine.

• The best interval was 52 metres at 1.65g/t Au between 68metres and 120 metres downhole (includes 6 metres at 4.10g/t Au).
  
• The hole was terminated prematurely in gold mineralisation due to problems associated with the drill rig and will be deepened to 250m or more in mid/late December.
  
• The hole is 300metres northeast of the gold mineralisation in the previous closest drill hole at Kabang Prospect (see results in earlier releases), and is thus indicative of a very large gold mineralised system.
  
• The hole was designed to test across the strike of a combined mercury geochemical anomaly and induced polarisation, geophysical anomaly, which are co-incident with the Kabang Structural Zone (KSZ). However 75% of the width of the KSZ at this location, remains to be drill tested.
  
• The Kabang gold system, as defined by drill holes and induced polarization (IP) surveys, is now confirmed to be more than 800m long (still open ended in both NE and SW directions), between 200 and 400 metres in width and thus could be very large.
  
• The KSZ is thought to extend over a strike length of 5 kilometres.

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New Guinea Gold Corporation (10 December 1998)

Normandy Mining (10 December 1998)

Normandy has finally secured exploration licences over about 1000 sq km of land in the highly prospective Tennant Creek gold region - after 6 years of consultation with local Aboriginal groups.

Gippsland Resources Australia (9 December 1998)

Gippsland said its Kumroch project in Russia would now become its main focus - it is to relinquish its other main exploration area - the Porozhistoe gold deposit.

Lynas Gold / Straits Resources (9 December 1998)

Lynas has acquired the Whim Creek Copper project from Straits Resources for $9.5 million.

The deposit is close to Tanganyika Gold's Balla Balla vanadium deposit and Lynas believes it is an ideal opportunity for some sort of mutual arrangement to prove up more vanadium resources.

Dominion Mining (2 December 1998)

Dominion has encountered promising gold intersections on the company's Homasi concession in Ghana. Better intersections included 26m @ 2.87 g/t Au, 24m @ 2.91 g/t and 42m @ 1.32 g/t. The drillhole spacing was 400m.

Australasian Gold Mines (30 November 1998)

AGM said it was acquiring a significant ground position around Meekatharra in WA. AGM has successfully tendered for WMC's Meekatharra Project. AGM is paying $650,000 plus commiting itself to a further $2 million of production-linked payments.

Carpenter Pacific (30 November 1998)

Resource estimates at the Mt Kare gold project in PNG have been increased to 4 milion mineable ounces of gold. Exploration is to be intensified with the aim of further expanding the resource.

Fimiston Mining (30 November 1998)

Fimiston has reported the discovery of a major vanadium oxide deposit at its St Elmo project, near Julia Creek in Qld. Initial drilling had shown the vanadium was within 15m of the surface; geological consultants have calculated an indicated resource of 60 million tonnes @ 0.42% vanadium oxide (252,000 tonnes).

Intermin Resources (30 November 1998)

Intermin has acquired the Gabanthina-Yarrabubbba vanadium project near Meekatharra in WA. The deposit has the potential to host a world-class vanadium resource - drilling encountered mineralised widths of up to 15m containing up to 1.3% vanadium pentoxide.

Pima Mining (30 November 1998)

Pima has been granted an EL covering a large deposit of magnesite, north-west of leigh Creek in South Australia -at the West Mount Hutt, Witcheline and Mt Hutton deposits with a total inferred resource of 47 million tonnes). These magnesite resources will provide the feedstock for the proposed magnesium plant at Port Augusta.

Red Back Mining (30 November 1998)

Early drilling results from the Chirano gold project in Ghana were encouraging - including near-surface intersections of 51m @ 3.27 g/t Au, 49m @ 4.36 g/t and 58m @ 4.81 g/t.

Resolute (30 November 1998)

The Golden Pride gold mine in Tanzania has been commissioned 2 weeks ahead of schedule and $3.1 million below budget. Golden Pride will produce about 180,000 ounces/year.

Sirocco Resources (30 November 1998)

Sirocco has been granted a gold exploration licence in the Gog Range, near Devonport, Tasmania. Previous driling encountered up to 3m @ 21.4 g/t Au and 2m @ 7.7 g/t.

Petroz (28 November 1998)

Petroz has decided not to exercise its option to acquire a 15% interest in the onshore Roccasicurra and Durania Blocks in Italy, following Setteporte-1 exploration well being plugged and abandoned after encountering only minor oil shows.

Ashton Mining (26 November 1998)

One of the key kimberlite pipes at the Buffalo Hills diamond project in Canada has proven uneconomic. Sampling from a bulk testing program of the K-14 pipe had resulted in 56.45 carats being recovered from a 479 tonne sample. The effective grade of 11.78 carats/tonne is disappointing and considered uneconomic. The quality of the stones was mixed.

Mt Kersey Mining (26 November 1998)

Mt Kersey has applied for 39,000 sq. km of tenements in central Australia (Tanami desert region) to explore for South African Witwatersrand-style gold mineralisation.

Gilt Edged Mining (25 November 1998)

GEM has identified 2 possible commercial pits at its East Kundana gold project in WA. A wide-spaced shallow drilling program has located 2 zones of mineralisation within a 1.6km corridor. The zones are about 300m long and 400m apart and remain open at depth and possibly along strike. The latest results at Hornet include 17m @ 5.38 g/t Au and 8m @ 6.26 g/t; at Rubicon results include 8m @ 57.19 g/t Au and 4m @ 17.78 g/t.

Giants Reef (24 November 1998)

Giants has announced exciting drill results from its Billy Boy prospect near Tennant Creek in the NT. A 12m section gave promising results - split into 1m intervals the results included 8.6% Cu and 0.82 g/t Au, 23% Cu and 8.9 g/t Au, 17% Cu and 1.55 g/t Au and 16.4% Cu and 2.93 g/t Au. Other results included 24m @ 30 g/t Au and 3% Cu - a 5m enriched zone returned 137 g/t Au.

Golden Cross Resources (24 November 1998)

Australian Worldwide Exploration (24 November 1998)

Three gas fields in which AWE holds significant interests have been upgraded in resource terms. A review of the Manta, Gummy and Kipper fields in the Gippsland Basin in off the Vic coast has resulted in total proved and probable resources of 796 petajoules of sales gas and 182 million barrels of oil equivalent in associated liquids.

Cultus Petroleum (24 November 1998)

Cultus has confirmed oil has been found in the Maari-1 well, south of the commercial Maui field off Taranaki. Earlier this week Shell Todd Oil Services, which is drilling the well for Cultus, played down rumours of a significant oil find.

Giants Reef Mining / Mt Grace Resources (24 November 1998)

Giants has intersected high-grade copper and gold in its first hole drilled at the Billy Boy prospect, east of Tennant Creek. The hole intersected 12m @ 12.17% Cu and 3.15 g/t Au in a 9,000m drilling program - part of the sale of its remaining 40% stake in the Batchelor interests to Mt Grace Resources NL.

Goldsearch (24 November 1998)

Drilling has commenced at the Mt Kellly high-grade copper-gold deposit, 90 km north of Mt Isa. The holes will be drilled to confirm a previous high-grade intersection and to assess the potential for an economic resource with an average grade of about 3% Cu and 15 g/t Au.

Paget Mining (24 November 1998)

Illegal mining at the disputed Sabodala gold deposit in Senegal had been stopped by army and police intervention. Paget is claiming it has a valid agreement with BRGM to buy a 51% share of the 1 million ounce deposit.

Novus Petroleum (17 November 1998)

Border Gold / WMC (16 November 1998)

Boss Resources (16 November 1998)

Pacific Mining (16 November 1998)

Ross Mining (11 November 1998)

Grange Resources (11 November 1998)

Macmin (11 November 1998)

Preston Resources (11 November 1998)

Santos (11 November 1998)

Kimberley Resources (10 November 1998)

Merritt Mining (10 November 1998)

Minotaur Gold / Gawler Gold & Mineral Exploration (10 November 1998)

Gold Exploration (9 November 1998)

Hampton Hill Mining (9 November 1998)

Hunter Exploration (9 November 1998)

SOCDET (9 November 1998)

Santos (7 November 1998)

Sons Of Gwalia (7 November 1998)

Grange Resources (6 November 1998)

Current drilling at the Mt Windsor JV - Conviction Prospect has intersected 24.95m of copper mineralised massive sulphide mineralisation from 318.5m to 343.45m. The interval from 318.5m to 329.6m is described as massive pyrite containing large blebs of chalcopyrite and the interval from 329.6m to 343.45m is described as semi-massive to massive chalcopyrite.

Mobil (6 November 1998)

Mobil has discovered a potentially rich gas field in the Carnarvon Basin off the WA coast - the John Brooks 1 well had strong gas flows at 53 million cubic feet/day and condensate at 450 barrels/day. The total gross hydrocarbon column was 300 feet thick.

Union Mining (6 November 1998)

Santos (4 November 1998)

Santos has announced a second gas flow from the John Brookes 1/ST 1 exploration well in WA's Carnarvon Basin. The first test flowed gas at rates up to 453,000 cubic metres/day. A second test was conducted flowing gas from the Barrow ground sands at rates up to 1.06 million cm/day. The gas was accompanied by about 32kl of condensate/day.
Santos said the well would be plugged and abandoned.

Africwest Gold (2 November 1998)

Alkane has commenced feasibility studies on a rare-earth deposit near Dubbo in NSW; the deposit contains the world's largest zirconium and yttrium resources. The studies envisage annual production of 3500tpy of zirconia and 250tpy of yttria.

Alkane Exploration (2 November 1998)

Africwest Gold has expanded its West African interests with a new JV in Guinea with unlisted local Voyager Gold.

Equatorial Mining (2 November 1998)

Equatorial has given the go-ahead for the $103 million development of the Tonopah copper project in Nevada, US. Production will start late next year at a rate of 24,000 tonnes of copper cathode/year at a projected operating cost of US$0.50/lb.

Also, Equatorial recently executed an agreement with Rayrock Resources of Canada to gain a 75% interest to the north-east and south-east of its El Tesoro copper project. Equatorial has a 39% stake in this project and plans to build a mining operation producing 75,000 tonnes of copper cathode/year.

Gippsland Resources (2 November 1998)

Gippsland is seeking permission from Russian authorities to commence a drilling program at the Porozhistoe licence in Siberia.

Resolute (2 November 1998)

Resolute said development of the Golden Pride gold project in Tanzania was almost complete; the mine is expected to produce 180,000 ounces of gold/year from 2 million tonnes of ore.

Tanami Gold (2 November 1998)

Tanami has taken an option over the Winnecke goldfield, 60km north-east of Alice Springs. Winnecke would become a priority drill target in early 1999.

Triako Resources (2 November 1998)

In the September quarter, cash costs at the Mineral Hill copper-gold mine in NSW averaged $174/ounce of gold after copper credits. Work continued on the jack's Hut main decline and Triako said decline development from a new portal in the Eastern pit began in late October and full development would start next February.

Western Reefs (2 November 1998)

Mining has commenced at the historic Western Queen gold project in WA - it contains an open-pit resource of 136,400 ounces.

Western Reefs has also announced that it will pay its first dividend, with shareholders to choose between 1.5 cents cash or a bonus share for every 20 held.

Michelago Resources (30 October 1998)

Herald Resources (27 October 1998)

Herald is cashed up and is seeking gold and base metal projects, both within Australia and overseas.

AMX Resources (26 October 1998)

Astro Mining (26 October 1998)

Caledonian Pacific (26 October 1998)

Newcrest (26 October 1998)

RGC / Grange Resources (26 October 1998)

Union Mining (26 October 1998)

Finders Gold / Dioro Exploration (22 October 1998)

YKR International Resources (22 October 1998)

The Company is negotiating with a US major on the property (October 1998) with a view to entering into an option to acquire the property with a royalty to YKR International Resources Limited.

Compass Resources (21 October 1998)

Compass Resources NL is pleased to announce the completion of pre-feasibility studies at the BROWNS PROJECT near Batchelor in the Northern Territory of Australia. The project is 90% owned by Compass and the positive results means that the joint venture will instigate final feasibility studies as soon as possible.

The selected flowsheet envisages a 1,750,000 tonne per year sulphide plant with 300,000 tonnes per year of oxide treated by heap leach. The sulphide plant will use a two stage furnace to recover lead bullion and zinc before pressure oxidation of the copper cobalt nickel enriched smelter matte. Following pressure oxidation a conventional solvent extraction electrowinning circuit has been included to recover high purity copper cathode, very high purity cobalt cathode and a nickel intermediate product. This process flowsheet comprises robust technologies in current use and results from the considerable attention given to eliminate areas of high process risk.

Financial analysis shows a project with an Internal Rate of Return (IRR) of 28.8% and a Net Present Value(NPV) of A$ 297.7 million. Strong revenues averaging A$ 257 million per year over the first 5 years results in a short payback period for the estimated A$ 298 million capital cost project.

These projections used an 8% discount rate and are based on US$ per pound metal prices of cobalt $12.00, copper $0.80, lead $0.25, nickel $2.50, zinc $0.70 and silver $4.50 per ounce and on an exchange rate of A$1.00= US$0.63.

Petroz (21 October 1998)

Petroz advises that the Setteporte-1 exploration well, located in the Roccasicurra Block in central Italy has reached a total depth of 3202 KB and is being plugged and abandoned after failing to encounter significant hydrocarbons. Although oil shows were encountered in the primary objective, 2 formation tests failed to recover hydrocarbons.

Australian Resources (19 October 1998)

Diamond drilling at the Cockburn Deeps prospect in the Mt McClure project had confirmed significant ore zones in 2 sections; best intersections from the Orelia and Cumberland Sections were 4m @ 14.23 g/t Au , 8m @ 13.06 g/t and 4m @ 26.8 g/t.

Bemax Resources (19 October 1998)

Partners in the Murray Basin JV are spending $725,000 on a 30,000m drilling program in an area thiught highly prospective for rutile, ilmenite and zircon within ancient beach strandline deposits.

Diversified Mineral Resources (19 October 1998)

DMR has announced a resource of 967,500 ounces at its Agbaou project in Ivory Coast. DMR now had to decide how to finance the $3-5 million required to complete the drilling program; DMR has $1.3 million in cash and a royalty flow from the Burton coal mine (worth $3.9 million last year).

Sirocco Resources (19 October 1998)

Encouraging intersections have been recorded from the Mt Bundey gold project in the NT, including 3m @ 7.96 g/t Au, 10m @ 5.56 g/t and 9m @ 3.26 g/t.

St Francis Mining (19 October 1998)

Latest exploration results from rock-chip sampling at the Chacarilla copper project in Bolivia are encouraging, including 1m @ 10.4% Cu, 1.4m @ 20.2% Cu and 3m @ 6.28% Cu.

Preston Resources (17 October 1998)

Shareholders approved the $319 million acquisition of Resolute's Bulong nickel-cobalt project in WA.

Preparations have commenced for a start of construction at the Marlborough nickel project in Qld following the Qld Mining Warden recommending the granting of 25-year mining leases. The deposit contains 210 million tonnes @ 1.02% Ni and 0.06% Co; current mineable reserves are 52Mt @ 0.88% Ni and 0.06% Co.

Macmin (16 October 1998)

Normandy NFM (16 October 1998)

NFM revealed the discovery of a promising gold resource over an area of 1.2km at Ground Rush, 100km north-west of The Granites in the NT.

BHP (15 October 1998)

BHP has announced that it has plans to drill 2 appraisal wells, in the first quarter of 1999, at the highly prospective Zamzamwa natural gas discovery in Sindh province in Pakistan.

Union Mining (15 October 1998)

Union Mining N.L. advises that recent exploration at the Peasoso Creek Prospect within Prospecting Licence 1589 North Santo Island has located gold and base metal anomalies within creek boulders which has significantly upgraded the prospectivity of this Project.

The anomalies come from both mineralised massive sulphide, and sheared and altered volcanic boulder float ranging up to two metres in diameter.

The best assays are as follows:

(a) Massive sulphide float:

Sample NS 1218F:	7.8 g/t Au	120 g/t Ag	2.89% Cu
Sample NS 1217F:	5.2 g/t Au	25 g/t Ag	4.41% Cu

(b) Sheared and altered volcanics float:
Sample NS 1215F: 11.7 g/t Au

The Peasoso assay results are very encouraging particularly since similar mineralised float was located in three separate areas within the Company’s Prospecting Licence 1588 on South Penecost Island, also in Vanuatu.

Preliminary interpretation of an airborne electromagnetic survey completed recently at South Penecost Island has located a number of conductive anomalies. These anomalies appear to coincde with the three areas where mineralised float was been previously located and may support the geological evidence that the area is prospective for either Kuroko or Cyprus style massive sulphide mineralisation.

Macmin (14 October 1998)

Equinox Resources / BHP (13 October 1998)

Equinox has signed a Heads of Agreement with BHP Minerals to allow BHP to explore the Ethiudna Project in the Curnamona Craton in SA. BHP is to spend a minimum of $250,000 in the first 12 months before withdrawal and may, over 5 years, earn a 70% interest in any resources which have an in-ground value of greater than $1 billion - by spending at least $250,000 per year.

Homestake Mining (12 October 1998)

Homestake says drilling at the historic Lawlers Mine in WA was expected to increase resources and reserves at the project significantly by year end.

Spinifex Gold (12 October 1998)

Spinifex has announced multiple intersections from drilling at the Kitongo and Buckreef projects in the Lake Victoria Goldfields of Tanzania. Intersections included 18.25m @ 15.41g/t Au, 16.3m @ 31.01g/t Au and 32m @ 9.07g/t Au.

New Guinea Gold Corp (10 October 1998)

Canadian based Resource Opportunities releases an encouraging report on NGG: " New Guinea Gold holds interests in two projects with excellent potential to be major gold deposits, similar to nearby world-class gold mines. The company is managed by highly respected geologists with substantial exploration experience in this area.

Santos (10 October 1998)

Santos has announced the discovery of a new gas field in the South Australian sector of the Cooper-Eromanga Basin. Welcome Lake East-1 flowed gas at the rate of 103,600 cubic metres/day with associated condensate at 13 kilolitres/day over a 15m interval.

Santos (8 October 1998)

Santos says preliminary data interpretation shows an 80m gas column in the John Brookes -1/ST-1 exploration well in the Carnarvon Basin, off WA.

Acacia Resources (9 October 1998)

BODDINGTON - ACQUISITION OF ADJACENT HEDGES MINED AREAS

Minotaur Gold / Gawler Gold (9 October 1998)

Capricornia Resources (8 October 1998)

Major technical aspects of the Emily Ann Feasibility Stidy are complete - the currently depressed nickel price (around US$4,000/tonne) and the greater than anticipated volumes of groundwater suggest Emily Ann is not viable at the present time.

Macmin (6 October 1998)

Australian Kimberley Diamonds / Rio Tinto (5 October 1998)

Rio Tinto is farming into the Seppelt Range diamond project in WA. Rio can earn up to 85% from AKD by spending $1.5 million over 3 years. Rio will also take a $100,000 share placement in AKD.

Kilkenny Gold (5 October 1998)

Kilkenny has spent $350,000 on its environmental impact study for the proposed Maud Crek gold mine in the NT. Kilkenny plans to mine about 300,000 tonnes/year for about 6 years using both open-pit and underground mining.

Monto Minerals (5 October 1998)

Test pitting and sampling has commenced at the Goondicum ilmenite project, and surrounding area, in QLD.

Rhodes Mining (5 October 1998)

Rhodes has moved to acquire control of high-grade silver tenements, including Sunbeam, in QLD.

Sons of Gwalia / Mt Burgess (5 October 1998)

Mining leases can now be issued for the Butcher Well JV (including the Red October deposit with reserves of 600,000 ounces @ 6.7 g/t Au) following agreement with native title claimants.

Macmin (3 October 1998)

Placer has become the first foreign company to explore for gold in north-west China's Qinghai Province - at the Tanjianshan Gold Mine, estimated to have 300-350 tonnes of gold reserves.

Croesus Mining / Gindalbie Gold (1 October 1998)

Croesus and Gindalbie have intersected significant gold and copper mineralisation at the Anketell project (Magnum prospect) north of Telfer in WA, with gold values up to 23 g/t Au and copper-rich zones up to 14% Cu..

Ashton Mining (30 September 1998)

Ashton's Canadian subsidiary plans to test 2 bulk samples from kimberlite pipes (K-14 and K-11) at the Buffalo Hills project in Alberta.

MIM Holdings (30 September 1998)

MIM has sold its Wandoan coal deposits, with reserves of 1.4 billion tonnes, to US-based Entergy Corp. In May MIM, Entergy and Tarong Energy entered into an alliance to develop the Dawson Valley coal mine and power station in QLD. The proposed 3Mtpy coal mine at Wandoan was intended to supply a 750MW power station, to be built and owned by Entergy.

Allegiance Mining / Rio Tinto (28 September 1998)

Rio Tinto has surrendered its part interest in the Grieves Siding zinc prospect in Tasmania; in return for 100% ownership Allegiance will pay Rio 2% royalty on any minerals produced.

Dragon Mining (28 September 1998)

Dragon plans to acquire iron sands deposits (the Aotea-Kawhai and Waipipi deposits) along the coast of New Zealand's North Island. The key is to produce iron carbide, a relatively new product which provides a high-grade substitute for scrap steel.

Dragon also announced that Sipa Exploration would farm into its Ashburton tenements in WA with the right to earn up to 70%.

Gympie Gold (28 September 1998)

Gympie Gold says it has discovered a new vein with visible gold at its Gympie Elderado operations in QLD. The coarse visible gold was discovered about 90m above the highest level of the Monkland mine and has been traced for a strike length of 300m.

Marlborough Gold Mines / Coolgardie Gold (28 September 1998)

Drilling at the Connor's Arch project in QLD has resulted in further encouraging intersections, including 24m @ 2.48 g/t Au and 6m @ 6.1 g/t Au. The companies said they believed the area contained a previously unrecognised major mineralised system which was open in all directions.

Resolute / Ghana Gold Mines (28 September 1998)

Resolute will further invest in GGM by extending a $1.75 million loan to pave the way for reopening the Obenemase mine in Ghana (closed 2 years ago). The loan will be used to pay for development drilling, metallurgical testwork and other preparations for the mine's recommissioning, with Resolute having the option of being repaid in GGM shares at the rate of 6 cents each.

SMC Resources Limited (24 September 1998)

SMC Resources launches its comprehensive web site, constructed and hosted by Digital Reflections, to coincide with the Gold Coast Gold Conference (24 & 25 September).

Otter Resources / Acacia Minerals (23 September 1998)

Otter has announced encouraging drilling results from its Beaver Creek, Banjo and Banjo North Projects, 35km west of the Tanami operation in the NT. Results included 56m @ 13.6 g/t Au and 21m @ 13.6 g/t Au from Beaver Creek, 18m @ 12.2 g/t Au and 22m @ 4.9 g/t Au from the Banjo and Banjo North Projects. At the new Marlena discovery, results included 4m @ 11 g/t Au.

Pacific Mining Corp (23 September 1998)

Pacmin has announced encouraging drilling results from its Tarmoola project in WA. The mineralisation extends as a wide band around the eastern flank of the existing mine and opens the possibility of a major cutback to access the new ore. Results included 90m @ 6.7 g/t Au, 29m @ 24.4 g/t Au, 16m @ 12.2 g/t Au and 10m @ 35 g/t Au.

Taipan Resources (23 September 1998)

Taipan has increased reserves at its Paulsens prospect in WA; Taipan is expected to complete a pre-feasibility study next month into a 150,000 ounce/year gold operation.

Aurora Gold (21 September 1998)

Aurora has acquired a 50% interest in the Morobe gold project in PNG. The previous owner, Australian Gold Fields NL, went into administration last March. Aurora will pay $24 million for Morobe Consolidated Goldfields. The project contains an inferred resource of about 5 million ounces of gold and 60 million ounces of silver.

City View Energy Corp (21 September 1998)

City View says its subsidiary Western Wisesa Petroleum has passed the prequalification requirements set by the Indonesian oil company Petramina for the 2500sq km Timoforo block.

Coplex Resources (21 September 1998)

The 1998 drilling campaign has commenced at the West Esh El Mallaha field in Egypt. Indicative recoverable oil reserves are between 37 million barrels and 93 million barrels.

Yinnex (21 September 1998)

Yinnex has the option to take 40% of the O'Sullivans lignite project (near Norseman in WA) owner, Australian Power & Energy, at a cost of $2.5 million. Yinnex plans to use an unspecified US coal technology to pump gas through the lignite to produce oil, which will be used to generate electricity.

New Guinea Gold Corp (17 September 1998)

A contract was signed with Regional Drilling of Lae, Papua New Guinea, for a minimum 1,000m of diamond core drilling at the Feni Island Property. In addition, induced polarisation (IP) and controlled source audio magneto telluric (CSAMT) ‘electrical’ geophysical surveys commenced at the Kabang Prospect, during the last week of August.

BHP (16 September 1998)

BHP has located another 7 diamond-bearing kimberlite pipes in Canada's Northern Territories, bringing the total to 107. BHP will officially open its $1.1 billion Ekati diamond mine in Canada's Northern Territories on 14 October.

Golden Cross Resources (16 September 1998)

Petroz (16 September 1998)

Petroz advises that the Setteporte-1 exploration well in Italy was at a depth of 2,333mKB (at 11 September) and drilling ahead. proposed depth is 3,100m.

Savage Resources (16 September 1998)

Savage has announced it has discovered a large zone of high-grade gold mineralisation at its Red Legs prospect, 200km north of Southern Cross in WA, and the known zinc mineralisation at the Accha zinc project in Peru was substantially increased - however it is complex metallurgically.

Takeover rumours also resulted in an increase in the share price.

Tiger International Resources (15 September 1998)

Tiger International Resources Inc. announces the results of the recent undercover drill program at Springfield, South Australia. The program was very successful as 17 of the 66 holes returned positive kimberlitic indicator minerals. Results can be divided into four geographic areas from south to north. The geological conclusion from work to date is that Tiger has located evidence for at least two undiscovered kimberlitic sources for the minerals in holes SF8 and SF50. Other results from holes SF49 and SF69 suggest that further kimberlites are also present in the project area.

Bemax Resources (14 September 1998)

Bemax has advised that work at the Murray Basin mineral sands JV had encountered intersections of heavy minerals at 2 of the prospects - Coombah and Nareen. At Coombah, drilling identified 2 strands with mineralised intersections located 200m apart with grades up to 26% heavy minerals. The Coombah 1 strand is 2700m long and remains open, with a 1km extension to the west.

Dragon Mining (14 September 1998)

Dragon is to explore for gold in Eretria where it will operate the Zara gold project - an area where at least 3 parallel quartz veins which average 3-4m in width at the surface in a 60m wide zone have been delineated. Rock chip samples have assayed up to 53.6 g/t Au.

Lynas Gold (14 September 1998)

Lynas has reached agreement to allow De Beers subsidiary Stockdale Prospecting to explore for diamonds only in the northern portion of the Klondyke project area. Stockdale can earn up to 51% by spending $2 million within 3 years.

Spinifex Gold (14 September 1998)

Spinifex Gold's African subsidiary is about to start a drilling program at its Buck Reef and Kitongo prospects in Tanzania Drilling is designed to at least double the existing resource base of 438,000 ounces. The Lion Selection Group recently announced it would invest $6 million in a Spinifex share placement to finance the exploration.

Santos (11 September 1998)

Santos has reported a significant gas flow from its Moolion North-1 well in the Patchawarra east block in the Cooper Basin, to the north of the Moomba gas plant. The well flowed at 252,000 cubic feet of gas/day and is within 1km of an existing gas pipeline.

Finders Gold (10 September 1998)

The Board of Directors of Finders Gold NL ("Finders") is pleased to announce that B. Vijaykumar Technical Services Private Limited ("BVTS") has entered into a Joint Venture Agreement (JVA) with the Government of Madhya Pradesh ("GOMP") and the Madhya Pradesh State Mining Corporation Limited ("MPSMCL") to jointly undertake exploration and mining for diamonds and other minerals in Block D-7, south-east Madhya Pradesh, India.

Finders currently holds a 20% share equity in the BVTS, with the option to increase its interest to 30% prior to the completion of a bankable feasibility study.

A new joint venture company, B. Vijaykumar Exploration Private Limited ("BVE") has been registered and is presently being incorporated under the laws of India and Madhya Pradesh to undertake these activities.
The BVTS will hold a 89% equity interest in BVE, with MPSMCL holding a 8% free carried interest and GOMP holding a 3% free carried interest.

Macmin (7 September 1998)

The Potoroo Prospect is situated north of the old Panama Goldfield within the Lisle Project. Previous soil and auger geochemical sampling had revealed highly anomalous arsenic and slightly anomalous gold along the track from Golconda to Panama.

Excavator trenching in the area of anomalous arsenic has revealed significant gold within granitic rocks just below a contact with sedimentary overlying rocks such as sandstones and shales. The main trench across the arsenic anomalous zone revealed 8m at 2.3g/t Au within a wider lower grade zone (which is at present open ended in both directions), of 69m at 0.55g/t Au. A second trench, displaced to the west from the higher grade gold in the first trench, recorded 46m at 0.25g/t Au.

The Crater Mt Project is located in a similar geological environment to the Porgera Mine and Mt Kare deposit. An earlier hole by BHP (only three were drilled when they were in a J/V with MACMIN and drilling for copper mineralisation), yielded a mineralised interval of 115m at 1.83 g/t Au including 3m at 14.16 g/t Au. The present drilling program will focus on testing an adjacent, untested, major gold in soil anomaly more than 600m by 1000m in area. This anomaly has peak soil values of 17g/t Au.

The program at Feni is managed by MACMIN but funded by Vancouver listed company New Guinea Gold Corporation. New Guinea Gold has a 25% equity in the Project and can earn a further 25% equity by sole funding the next C$2.0M of exploration expenditure.

There is widespread gold in drill core, soils and groundwater at Feni, which is also along trend from, and has comparable geology to the Lihir Mine. Feni has an open ended inferred resource of 180,000 ozs gold with typical drill intercepts from previous drilling, such as 114m at 1.12g/t Au and 20m at 2.6g/t Au.

MACMIN is at an advanced stage in negotiating a farm out/joint venture for its prospective porphyry copper/gold properties in New Britain, Papua New Guinea.

Nimbus Resources (7 September 1998)

Nimbus Resources NL and The Broken Hill Proprietary Company Limited (BHP) are pleased to jointly announce the signing of a Memorandum of Understanding for the purchase by Nimbus Resources NL of the Hawks Nest mineral sands operation from BHP Titanium Minerals Pty Limited as part of BHP's portfolio restructuring programme. The purchase price consideration is approximately $9m, payable over 15 months from 1 October 1998.

The acquisition will also include the right to use the business name Mineral Deposits (MDL), which is a long standing and respected name in the Australian mineral sands industry. Nimbus will consider changing its name to Mineral Deposits Limited.

Hawks Nest is a well established project involving mineral sand dredging at two locations – Viney Creek and Fullerton - with dry separation occurring at Hawks Nest, producing premium grade rutile and zircon which finds ready acceptance in world markets.

Paladin Resources (7 September 1998)

Paladin has farmed into the Kambalda West gold JV under an agreement with Central Kalgoorlie Gold Mines. Paladin and Ranger Minerals can now earn an 80% interest by spending $2.5 million over 5 years.

Tap Oil (7 September 1998)

3 petroleum permits on the edge of the Bonaparte Basin have been awarded to a joint bidding group of which Tap Oil holds 17%.

Petroz (2 September 1998)

Petroz announces that Springbok-1, a wildcat exploration well, located in TP/12 in the carnarvon Basin, has been plugged and abandoned. No significant hydrocarbons were encountered.

Drillsearch Energy (31 August 1998)

Drillsearch has signed a deal with Albania's State oil company Albpetrol, to sell all of the production from the Cakran-Mollaj and Ballsh-Hekel fields. Drillsearch says its maximum production cost in Albania is US$3.75/barrel.

Gilt-Edged Mining (31 August 1998)

Gilt-Edged has announced encouraging drill results from its East Kundana JV in WA, including 11m @ 3.73 g/t Au and 2m @ 101.35 g/t Au. Both intersections were at shallow depths.

Golden Cross Resources (31 August 1998)

Golden Cross Resources NL recorded positive drill results from its 100% owned Kempfield silver property near Blayney, NSW. The property is subject to a 5% net profits interest.

Twelve reverse circulation percussion holes for 889m have been drilled at Kempfield in a programme aimed at expanding the silver resources indicated in several zones by previous drilling.

Livingstone Resources (31 August 1998)

A commercial-sized (1.7 carats) microdiamond has been discovered at the Jewill prospect in the Naberru basin in WA. The diamond was recovered from excavated kimberlitic volcanic material.

Spinifex Gold (31 August 1998)

Lion Selection Group is to pay $6 million for a placement in Spinifex enabling Spinifex to carry out additional exploration on its Tanzanian properties (through its 49.5% owned East Africa Gold Corp). Spinifex's combined gold resources in this area so far totals 438,500 ounces.

Empire Oil and Gas (25 August 1998)

Empire has spudded its first well - Gingin-3 in the Perth Basin. The well is planned to a depth of 4,100m and aims to tap cheap gas to sell into the deregulated WA market. It lies about 3km from the Parmelia gas pipeline.

Equi Gold (24 August 1998)

Equi Gold has completed the purchase of the Mt Rawdon gold project(measured and indicated resource of 24.8 million tonnes @ 1.15 g/t Au and 4.4 g/t Ag. from Resolute and Samson Exploration. EG has paid $7.5 million and a further $1.5 million to Resolute for a ball mill located at Resolute's Southern Cross project.

Gullewa Gold (24 August 1998)

Gullewa has sold its Gullewa resource and treatment plant, 300km north of Perth, for $4 million to a private company.

Hardman Resources (24 August 1998)

Hardman has acquired two offshore oil exploration areas in Malta; the areas are due south of Italy and 70km from the Vega field which has 300 million barrels of recoverable oil.

Nexus Minerals (24 August 1998)

Recent drilling at the Tampia Hill gold prospect, 250km east of Perth, encountered encouraging results including 18m @ 5.35 g/t Au and 6m @ 16.08 g/t Au. In addition, geochemical sampling to the north of the known mineralisation had delineated a 1110m x 300m anomaly, which extended the target area to a strike length of 2300m.

Otter Gold (24 August 1998)

Otter has announced some very encouraging drilling results from its Banjo prospect, 32km west of the Otter Gold Mine's Tanami operation in the NT. The recent results had defined 2 zones of mineralisation 500m apart, and included 18m @ 10.3 g/t Au, 28m @ 3.7 g/t Au and 24m @ 8.8 g/t Au.

Probe Resources (24 August 1998)

Probe has advised that its Mokhti oil project in Russia has been part-funded, with the recent issue of 5 separate promissory notes of US$1 million each.

Wells Gold (24 August 1998)

Wells Gold has agreed to a farm-in by Goldfields to its Mt Celia project in WA. Goldfields will spend $775,000 to earn an 80% stake.

Petroz (20 August 1998)

Petroz advises that it has farmed into 2 onshore exploration blocks in Italy (140km east of Rome). Drilling is currently in progress.
Petroz will contribute to the cost of drilling the Setteporte-1 exploration well. Upon completion of drilling, Petroz has the option to acquire a 155 interest in the Roccasicura and Duronia permits at no further cost. Target depth is 3100m (Cretaceous to Miocene Apulian Carbonate) and should be completed in October.

BHP Petroleum (19 August 1998)

BHP Petroleum announced encouraging hydrocarbon results at its Atlantis-1 and Neptune-2 wells in the Gulf of Mexico.

Petroz (19 August 1998)

Petroz advises that it has farmed into 3 adjacent exploration permits (TP/12, EP 398 & WA-216-P) in the Carnarvon Basin, offshore WA. Petroz will earn a 30% interest in TP/12 & EP 398 and a 22.5% interest in WA-216-P by contributing to the cost of drilling the Springbok-1 exploration well (in TP/12).

Santos (19 August 1998)

Santos revealed production at its Elang/Kakatua and Stag oil fields in the Timor Sea had exceeded expectations - output was running at 36,000 barrels/day (original forecast was 32,500bbls/day). In addition, total production at the Stag oil fields had risen to about 15,000 bbls/day, compared with 10,444bbls/day last month.

Centamin (17 August 1998)

The Sukari gold project in Egypt has an estimated resource of 1.8 million ounces of gold at a 1 g/t cut-off.

Redfire Resources (17 August 1998)

Redfire has entered a JV with a private company in the Murray Basin over a 56 sq km area near Lameroo, SA. The area is 8km west of the recent RGC heavy mineral discovery at the Matilda prospect. Redfire said interpretation of satellite imagery and coloured air-photos indicated a series of strand lines crossing the tenement.

Icon Oil (15 August 1998)

Icon reports that drilling operations have been delayed due to flooding caused by unseasonal rains over the past few weeks. The rig has been contracted to a third party for an eight-week programme and on completion will return to drill the first of a four well programme planned for the Surat Basin.

If current negotiations are successful Icon will be involved in nine wells over the next 9-12 months in Australia and the USA. These wells will be at no cost or minimal cost to Icon as they have mostly been farmed out to joint venture partners.

Icon is in the final stages of negotiating with a Dallas (USA) based oil company to farm-in to three wells in the Surat Basin. The three farm-in wells are to be drilled in ATP620P and ATP626P near the Moonie Oilfield. New seismic work has been completed over these new prospects which have potential reserves exceeding those of the Moonie Oilfield of 25,000,000 barrels. Icon will continue to operate the drilling programme.

A fifth well is planned in ATP594P in the Cooper Eromanga Basin in late October but timing is subject to rig availability.

Plans are well advanced to participate in two exploration programmes in Colorado and Montana in the United States. The programme includes three wells in Montana where Icon will have a 35% working interest and one in Colorado where Icon will have a 100% working interest. Further negotiations are being conducted to obtain production interests and income in the USA.

Icon has concluded its farm-in programme as outlined in the prospectus and has added several new areas to its portfolio which have increased the prospectivity of Icon's overall acreage holdings in Australia. The only exception is the remaining farm-in well in ATP620P which is being farmed out to US interests.

Icon has joined a study group in the Bonaparte Gulf on the northwest shelf of Australia and if warranted, intends to participate in any final bid to the level of a 25% working interest.

Anaconda Nickel / Cobra Resources (13 August 1998)

Anaconda has signed a $100 million JV deal with Cobra. Under the deal, Anaconda will take a 70% interest in 2 laterite nickel deposits(near Greenvale and Marlborough) in Qld and a larger resource (Wowo gap) in PNG. Under the deal, Anaconda will boost its lateritie nickel resources to about 500 million tonnes.

YKR International Resources (12 August 1998)

A program of IP Survey has been authorised on the 100% owned Aurex Property in the Mayo mining district for immediate commencement.

A second program of magnetometer VLF survey is to be conducted on the 100% owned Revenue Creek property in the Carmacks district. The results of these surveys should be available in early September 1998.

Audax Resources (11 August 1998)

Audax is set to acquire the prized Bronzewing South mining tenement in WA after it emerged director Leith Beal, through his personal company, Hot Holdings, is likely to be granted formal title to the disputed lease, subject to native-title procedures.

Climax Mining (10 August 1998)

Climax has revealed its Didipio copper-gold project in The Philippines has the potential to produce up to 245,000 ounces of gold and 33 million pounds of copper / year following completion of a bankable feasibility study. Estimated capital cost is $220 million and requires the mining of 17.2 million tonnes of ore @ 2.37 g/t Au and 0.66%Cu .

Croesus / Gindalbie Gold (6 August 1998)

Drilling at the Magnum prospect in WA has revealed significant copper and gold mineralisation; an additional 5-hole drilling program is being undertaken to determine whether there is a substantial resource at the site.

Victoria Petroleum / Sun Resources (6 August 1998)

Victoria Petroleum N.L. and Sun Resources N.L., both Australia based companies, are seeking industry partners to participate by farmin with Victoria and Sun in the drilling of the highly prospective Gouaro Anticline in late 1998, onshore New Caledonia. The petroleum permit, PRA 436 is situated on the western coast of New Caledonia approximately 160 kilometres northwest of Noumea and covers an area of 591 square kilometres (146,000 acres).

Resolute Limited (6 August 1998)

Resolute Limited has successfully acquired all of WMC's gold interests in West Africa. Tenure comprises four permits in total. Two permits in SW Burkina Faso aggregating 510 sq km and two EP's in NE Cote d'Ivoire aggregating 1957 sq km. The four tenements straddle the Burkina-Ivorian border and encompass a highly prospective belt of Birimian greenstones within which WMC have to date outlined several excellent gold prospects by soil geochemistry and limited RAB drilling.
At Nogbale in Burkina Faso, extensive soil anomalies peak at 5.5g/t gold while elsewhere in that tenure numerous other strong geochemical gold anomalies await infill and trenching before RC drilling by Resolute. At Nongon in Cote d'Ivoire reconnaissance geochemistry has outlined extensive gold anomalies peaking at over 2 g/t in sheared magnetic mafic rocks. Again, trenching followed by RC drilling will be carried out by Resolute.

Australian Resources (3 August 1998)

AR has announced a $11.2 million rights issue aimed to expand the life of its mines at Mt McClure in WA and Selwyn in Qld. At Mt McClure the focus is on proving up an ore body named Cockburn Deeps where an inferred resource of 2.5 million tonnes @ 8.25 g/t Au (650,000 oz Au) has been identified. At Selwyn, $4.4 million is to be spent on proving up reserves in 2 targets - Plume and Mt Elliott Deeps, and advancing a solvent extraction-electrowinning project to produce copper cathode on site.

Eastern Gold Corp (3 August 1998)

Eastern Gold has entered into a heads of agreement with Philippine Gold to farm into the Zambales laterite nickel project north of Manila. EG could earn a 49% stake by taking it to a bankable feasibility study stage within 3 years.

Petroz / Victoria Petroleum (29 July 1998)

Petroz advises that the Melanie-1 well, located in EP-359-P in the Carnarvon Basin in WA has reached a total depth of 1422 mKB and has been plugged and suspended as a potential water well.

Aurora Gold (28 July 1998)

Aurora is the likely buyer of Australian Gold Fields NL's (administrators appointed) Morobe gold-silver project in PNG. Morobe has inferrd resources of up to 5 million ounces of gold and 60 million ounces of silver.

RGC (28 July 1998)

RGC has dropped plans to purchase the Cerro Corona copper-gold project in Peru and, in accordance with its plans to merge with Westralian Sands and concentrate on mineral sands, base metal activities in Australia have been reduced to the Reward mine area in Qld.

AMX Resources (27 July 1998)

AMX has commenced mine planning for its 824,000 ounce Golden Cities gold project near Kalgoorlie in WA.
AMX has also made another discovery at its London prospect (5km south of the main Havana Suva orebody) where drilling had resulted in intersections including 9m @ 3 g/t Au.

BHP / Shell Canada (27 July 1998)

Bhp and Shell Canada's Athabasca oil sands JV has reached agreement with Vancouver's BC Gas to develop a C$440 million corridor pipeline connecting the Lease 13 mine with Shell's Scotford upgrader. A C$100 million feasibility study is now under way on each component of the C$3.4 billion Athabasca development and is expected to be completed early next year.

Drillsearch (27 July 1998)

Drillsearch has commenced oil production in Albania and would move to 95% ownership of the project by acquiring 47.5% stakeholder Kiwi International Resources. Combined production from the Ballsh-Hekal and cakran-Mollaj fields was 1580 barrels per day, with 1280 barrels being controlled by the Albanian State oil company. Drillsearch says production should increase to 2500barrels/day within 4 months.

Mt Conqueror Minerals (27 July 1998)

Mt Conqueror has announced increased resources at its Morning Star gold mine in Victoria; identified resources are 1.58 million tonnes @ 5.5 g/t Au (278,000 ounces) for underground extraction plus 464,000 tonnes @ 2.6 g/t suitable for open-pit mining. A new steel shaft has reached a depth of 130m and the company expects to find additional resources in the deeper workings.

Pima Mining (27 July 1998)

Pima plans to raise $1.5 million via a non-renounceable share issue at 6¢/share, to enable the company to drill its Gawler Craton (Sandstone area - Endor, Matador and Yalvin prospects)) and Adelaide Hills prospects (Reservoir and Wheal Ellen) rather than farming them out.

Sipa Resources / Lynas Gold / Arcadia Minerals (27 July 1998)

The JV partners have decided to develop the Mt Olympus gold project in WA; the first gold pour is expected in January 1999. A feasibility study showed gold could be produced at the rate of 60,000 ounces per year at a cash operating cost of $250/oz.

Uranium Australia (27 July 1998)

Unexpectedly high scandium values recorded from drill intersections at the Syerston nickel-cobalt project in NSW sent UA's share soaring late last week. Results from the 10 widely-spaced holes included 22m @ 135.8 g/t scandium, 37m @ 147.1 g/t (including 14m @ 370.9) and several other intersections grading between 12-68 g/t. UA's next step is the pre-feasibility study for the nickel-cobalt operation.

Australian Gold Resources (24 July 1998)

AGR announces that rock chip samples from the Company's exploration licence application E57/419 over the Youanmi Intrusive Complex 120 kilometres east southeast of Mt Magnet in Western Australia returned an average grade of 0.83% vanadium pentoxide. These results indicate potential for a sizeable economic vanadium deposit.

Australian Mineral Processors (24 July 1998)

Australian Mineral Processors announced the third stage of its drilling program at the Tableland gold prospect near Gympie in Qld, had produced excellent results, including 11.46g/t Au from 12m (including 2m @ 45.3 g/t).

Mt. Kersey Mining (24 July 1998)

Mt. Kersey Mining N.L. has reached an agreement with Kitchener Resources and Topsfield to secure rights (to earn a 76% interest) to explore 10,000 square kilometres of the Fraser Range Region bordering the south east of the Yilgarn Craton in Western Australia. The Fraser Range Region has the potential to host substantial gold, diamond and base metal deposits.

Grenfell Resources (22 July 1998)

Grenfell is to take a 75% stake in Indian company Meridian Minerals India. The principal asset of Meridian Minerals India is 100% ownership of 6 mineral exploration leases in Rajasthan in north west India. The lease areas have been selected by Meridian's Indian geological consultant and are prospective for zinc/lead, copper and gold. Major existing deposits of zinc/lead and copper are mined in this region by the government owned enterprises Hindustan Zinc and Hindustan Copper.

Cambrian Resources / Troy Resources (20 July 1998)

Cambrian and Troy have become equal JV partners in the Mt Klemptz tenements in the Sandstone region in WA. The JV includes the prospective Bulchina prospect where drilling has outlined a resource totalling 644,700 tonnes @ 3.1 g/t Au (64,900 ounces).

Queensland Opals (20 July 1998)

Drilling and bulk sampling at the Lucky mine in Qld has indicated that the resource is about 50% greater than previously thought. The two-thirds of the lease which has been drill-tested has an indicated resource of 290,000 cubic metres, sufficient for 5 years and valued at $8.3 million.
Drilling has also been carried out at Bob's Fault, 10km from the Lucky prospect, and has indicated an inferred resource of 100,000 cubic metres, enough for a 3-year mining operation.

BoralEnergy Resources (16 July 1998)

Boral announced that it was examining a $300 million gas development to bring cheap power to Tasmania following encouraging exploration results at its Yolla field, 100km off the coast in Bass Strait. Recent drilling had confirmed reserves of 450 to 600 billion cubic feet of gas, significant quantities of condensate and up to 70 million barrels of oil.

Shell / Australian Worldwide Exploration / Gulf Australian Resources (16 July 1998)

Shell announced that its Basker-Manta exploration play near Lakes Entrance off the Victorian coast was an expected commercial gas and oil field. Exploration suggested the field contained 670 billion cubic feet of gas, 70 million barrels of oil and 37 million barrels of condensate.

Lakes Oil (15 July 1998)

Recent studies undertaken by a greensand specialist in Denver USA engaged by Lakes Oil N.L. has indicated potential for production of oil from the sands/gravel underlying the "Greensand proper" at lakes Entrance. Previously it has been thought that these sands/gravels would be an active water aquifer, and they were accordingly cemented off prior to testing in Lakes' recently drilled appraisal wells, Petro Tech No. 1 and Hunters Lane No. 1. This recent log analysis suggests these sands/gravels could produce a mixture of oil and water.

Lakes Oil N.L. considers this recent analysis, incorporated in Energy Data Services Inc.'s Report, to be sufficiently encouraging to push ahead with opening up the basal sand/gravel at Hunters Lane No. 1.

Australian Gold Resources (14 July 1998)

The Company recently lodged an exploration licence application E57/419 totalling 196 square kilometres over the Youanmi Intrusive Complex which is located 30 kilometres to the southeast of the Precious Metals of Australia Limited and Glencore International AG controlled Windimurra Intrusive Complex. The Youanmi Intrusive Complex is prospective for vanadium, copper, zinc and nickel sulphides and is considered to be stratigraphically equivalent to the Windimurra Intrusive Complex which hosts a substantial vanadium mineral resource.

Field reconnaissance of a recent exploration licence application in the Mt.Thirsty area 15 kilometres north of Norseman has returned assay results of up to 1.9% cobalt and 1.5% nickel from shallow pits. The laterite has a very similar appearance to siliceous cobalt or SiCo ore at Cawse, northwest of Kalgoorlie.

Empire Oil & Gas (14 July 1998)

Empire plans to spud its first well in the Perth Basin's Gingin gasfield in August. The 4,100m well, costing about $5 million, will take about 52 days to complete.

Newcrest (14 July 1998)

Newcrest announced an upgradeed resource estimate for its Cadia Ridgeway Project in NSW. The deposit contains an estimated 44Mt @ 2.6 g/t Au and 0.82% Cu of which 32Mt @ 2.9 g/t Au and 0.87% Cu are classified as Indicated and the remaining 12Mt @ 1.8 g/t Au and 0.69% Cu are Inferred.
The exploration decline is currently 700m long and should allow access to the deposit during the March 1999 quarter.

Straits Resources / WMC (14 July 1998)

The Directors of Straits Resources Limited (ASX Code: SRL) are pleased to announce that the Company has reached agreement with WMC Resources Ltd to purchase the Nifty Copper Operation. The operation is located in the Great Sandy Desert Region of the East Pilbara in Western Australia, 1,250 kilometres north of Perth.

Following the acquisition of Nifty, Straits' attributable production from its two SX-EW copper mines will be 27,000 tonnes of LME Grade A copper cathode per annum at a cash operating cost of approximately US50 cents per pound.

Nifty will contribute positively to earnings and cashflow. Over the life of mine it is forecast to generate Earnings Before Interest and Tax of an average of A$11 million per annum and Operating Cash Flows of A$17 million per annum.

Straits Resources has agreed to pay WMC Resources Ltd A$32 million on settlement and A$18 million payable in four equal annual instalments of $4.5 million. The acquisition is conditional upon the parties entering into the usual Sale and Purchase documentation, consents of the Ministers for Resources Development and Minerals and Energy for Western Australia and Foreign Investment Review Board approval.

Tiger International Resources (14 July 1998)

SPRINGFIELD DIAMOND EXPLORATION UNDERWAY. A new phase of diamond exploration commenced in May and the first batch of results are now available. A total of 56 diamonds were recovered from the preliminary bulk samples which totaled 1.63 carats. A further seven small diamonds were recovered from indicator mineral samples. The largest stone was a clear white macle-dodecahedron with a diameter of 3.5 mm and a weight of 0.34 carats. This is the largest known diamond to be recovered from the Central Flinders Ranges to date. Together with the indicator mineral results a suggested location for a larger bulk sample has now been defined.

During June an undercover drilling program commenced to search for the kimberlitic source of the Springfield diamonds. A total of 66 holes for 421 meters at an average length of 6.4 meters were drilled. Samples have been dispatched to Perth for indicator and diamond mineral observation.

Cambrian Resources (13 July 1998)

Anglo-American subsidiary Prospecting Ventures is restructuring its Zimbabwe JV with Cambrian and has agreed to spend another US$2 million on gold exploration. Initial exploration was on the Giants mine but Cambrian will now include several other of its tenements as part of a new 50/50 JV. Drilling at the Giants mine has identified a resource totalling 336,000 ounces (average grade 2.1 g/t Au).

Finders Gold (13 July 1998)

Finders Gold has been issued an EL (Block D-7 concession) in the Indian State of Madhya Pradesh where previous exploration has identified 40 kimberlitic anomalies.

International Mineral Resources (13 July 1998)

IMR has entered a JV with Resource Exploration to look for platinum at Mt. Singleton, in the southern Murchison region of WA.
IMR is also looking to restart work on its Badgebup gold mine, north-east of katanning in WA, which it operated until it was put into administration last year after running out of money. It has been rescued by a private Perth-based investment group, Commercial & General Capital and is now being run by executive director Tony Grist.

Lafayette Mining (13 July 1998)

Drilling has commenced at the Eteke concession in Gabon where indicated and inferred resources now stand at 1.87Mt @ 6.4 g/t Au.

Metex Resources (13 July 1998)

Metex has doubled the size of its Chatterbox tenements in the Laverton region of WA. Metex and JV partner Delta Gold, have outlined a resource totalling 5.55Mt @3.6 g/t Au (640,000 ounces). A number of other targets have yet to be drilled.

Pima Mining (13 July 1998)

Pima has announced a $1.51 million non-renounceable entitlement issue to finance its own drilling program in the Gawler Craton (Sandstone project) and Adelaide Hills (Reservoir and Wheal Ellen) . In addition Pima has farmed into BHP Minerals' magnesite project at Leigh Creek in SA.

Resolute (13 July 1998)

Drilling at the Indee project, near Port Hedland in WA, has intersected high-grade mineralisation at the Withnell (18m @ 5 g/t Au) and Camel 1 prospects (15m @ 9 g/t Au and 4m @ 12.3 g/t Au).

Triako Resources (13 July 1998)

Triako has confirmed a high-grade underground resource at its Mineral Hill mine in NSW, containing about 60,000 ounces of gold and 3,000 tonnes of copper. Existence of the body has been known since 1988 but was not drilled at the time. Triako has laso hit high-grade intersections north and south of the existing resource.
This new ore body will also provide the cash flow to drill areas around Mineral Hill which have not yet been properly explored.

Petroz (10 July 1998)

Petroz N.L. announces that bidding groups in which it is a participant, have been offered three exploration permits, covering gazettal areas W97-12, W97-14 and W97-15, in the Browse Basin offshore Western Australia.

Straits Resources (8 July 1998)

PT Bahari Cakrawala Sebuku ("PTBCS"), an 80%-owned subsidiary of Straits, has entered into an agreement with an Indonesian company, PT Tunas Muda Jaya ("PTTMJ"), to acquire an 80% indirect interest in the Busui Coal Project in East Kalimantan, Indonesia.

Under the agreement, PTBCS will carry out a confirmatory drilling program and detailed coal quality analysis on the project, which PTBCS is required to complete within a period of six months. Subject to the results of this initial evaluation, PTBCS may acquire an 80% indirect interest in the project. PTBCS has agreed to spend no less than US$100,000 on the initial evaluation, although it may terminate the agreement at any time during the evaluation period. PTBCS's interest will be held through an 80%-owned Indonesian subsidiary ("Project Subsidiary").

If PTBCS exercises the option, the agreement requires PTBCS or the Project Subsidiary to:

• reimburse PTTMJ an amount of US$500,000 for costs already incurred out of future cash flows from the project;
• expend a minimum of US$333,333 per annum on exploration and/or feasibility study for three years, provided that PTBCS has the right to withdraw at any time by giving 3 months notice;
• fund all costs in connection with the development of the project up to the commencement of production. PTTMJ has agreed to repay its share of exploration, feasibility and development costs out of its share of dividends.

East Coast Minerals / Legend Mining (6 July 1998)

Exploration production at the Elizabeth Hill silver project in WA is due to commence in the next few months with plans to drive the shaft down to 102m. A drive at 102m will test the continuity of the mineralisation.

Exodus Minerals (6 July 1998)

Shareholders are expected to approve the placement of 2 million shares enabling Exodus to purchase 2 gold tenements, north of Laverton, in WA; they include the historic Mikado prospect where there is a current high-grade resource of 87,000 ounces.

Gallery Gold (6 July 1998)

Gallery Gold has acquired the 121km² Signal Hill prospect in the Tati greenstone belt in Botswana. Gallery will spend $400,000 to earn an 80% interest. The prospect has a resource, estimated from a 1984 drilling program, of 201,000 ounces.

New Millennium Resources (6 July 1998)

New Millennium Resources is acquiring Greenvale Mining/Esperance Mining's Greenland rare earth's project in return for a 7.5% gross royalty.

Sovereign Resources (6 July 1998)

Sovereign has raised $1.5 million - the money will be used to complete a bankable feasibility study for its manganese sulphate project in the Pilbara.

Yamarna Resources / Trans Global Resources (6 July 1998)

Significant gold intercepts have been reported from the Horan's Small Dam project near Kalgoorlie in WA.

Ballarat Goldfields (3 July 1998)

Ballarat Goldfields N.L. (BGF) advises that it has reached an agreement with Ballarat Consolidated Gold N.L. (BTD) to acquire the historic Ballarat West goldfield.

This purchase, subject only to satisfaction of certain conditions, delivers substantial exploration acreage to Ballarat Goldfields, thereby consolidating its pre-eminent tenement position across this notable gold province. BGF will acquire all the issued capital in a BTD subsidiary, Phoenix Resources N.L., an unlisted Public Company .

In consideration BGF will pay $418,000 cash for Phoenix plus $32,000 for two strategic freehold titles. In addition, BGF will pay a royalty of up to 4,000 ounces of gold sourced from production within the licences.

This strategic acquisition provides further reinforcement of BGF's exploration focus within the Central Highlands Region of Victoria and follows its recent purchase of the nearby Berringa goldfield (announcement on 3 June 1998).

Crest Resources (2 July 1998)

Crest is to fast-track the development of its Arthur Lyons River magnesite project in Tasmania after securing exclusive development technology. An agreement with the Ukrainian National Research and Design Titanium Institute will wipe about $40 million off the project's $612 million cost and save 18 months on a feasibility study.

Herald Resources (2 July 1998)

1. COOLGARDIE PROJECT - FARMOUT AND OPTION DEALS

Herald is pleased to announce that it has reached agreement in principle with Mining Project Investors Pty Ltd (via subsidiary MPI Gold Pty Ltd) and Pittston Mineral Ventures of Australia Pty Ltd (collectively "MPI/Pittston") to earn up to a 60% interest in the various assets comprising the Coolgardie project currently held by Herald and its subsidiaries, with the intention of forming a joint venture to further develop the project.

Significant benefits to Herald

Herald believes that the agreement has the potential to deliver significant benefits, namely:

• the expenditure of up to $6,000,000 in the ground and payments of up to $10,200,000 to Herald, whilst still retaining a substantial 40% minimum interest;
• the retention of the right by Herald to operate 100% to its own account until the sums above are spent/received and the flexibility to achieve maximum benefit from the project assets; and
• the recognition of prospectivity, and technical input by a major and respected group in MPI/Pittston.
• the freeing up of corporate funds to pursue other opportunites.

2. INDONESIAN PROPERTIES

Corporate

Herald is pleased to announce that final approval has been received from the Vancouver Stock Exchange for the previously announced sale of Herald's remaining Indonesian exploration interests to our associate Canadian-listed International Annax Ventures (Inc) ("IAX"), which has funded all exploration expenditures on the properties to date, with Herald as operator.

Following the receipt of various tranches of shares in IAX (some of which remain conditional upon the completion of certain matters), Herald expects to own up to 49% of the issued capital in IAX.

Exploration Update

Dairi Contract of Work (Sumatra) (IAX interest up to 70%)

Following discovery of lead-zinc rich, stratiform, massive sulphide mineralisation of possible sedimentary exhalative (SEDEX) origin at the Sopokomil prospect in late 1997, Herald has put in place a modest fast-track program culminating in 1000m of diamond drilling to confirm the model, style, continuity, mineralisation, and tenor of this potentially major discovery.

Diamond drilling of 1,000m, mainly NQ3 coring, has been let to a contractor and is about to commence. The program is directed at the 1500m long, open-ended soil geochemistry Zn-Pb anomalies which have been subjected to ground TEM (geophysical) survey.

The principal targets are zinc and lead rich stratiform massive sulphide (SEDEX) horizons which have been discovered in four localities in an 1100m strike extent. Disseminated, sometimes strong, zinc-bearing mineralisation in limestone interbeds in the predominantly black shale context is also being targeted.

Beaconsfield Gold (1 July 1998)

UPDATE ON BEACONSFIELD MINE JOINT VENTURE

MINE DEVELOPMENT

Since the first week of March 1998, the emphasis has been on development with the two-boom jumbo. The horizontal development has been mainly in the north drive on the 375 metre level, to gain access to the return air shaft location, and on the 415 metre level to gain access to the bottom of the Hart Shaft (in preparation for the excavation of the permanent Hart Shaft skip loading station between the 375 metre and 415 metre levels).

The main access 1 in 8 decline, which commenced from the 375 metre level on the southern side of the Tasmania Reef, passed through two splits of the reef at a depth of around 430 metres in early June 1998, very close to the C39 diamond drillhole intersection. Ongoing development of the decline will all be on the northern, or footwall, side of the Tasmania Reef. Ground conditions have proven to be excellent.

INITIAL ORE TESTING

While above the lowest historical mining level (455 metres depth), hole C39 and two holes to the east of C39, holes C27 and C40, had indicated that the reef in this area remained unmined and could be a source of early ore. Given the limited data however, no reserves have been calculated for this area so far. It is planned to commence strike driving, to the east, the two reef splits encountered in the decline in July 1998.

Hole C39 intersected two reefs separated by approximately 10.5 metres horizontal of internal waste. The hangingwall reef was 1.08 metres horizontal at 18.2 g/t gold. The footwall reef was 1.30 metres horizontal at 9.9 g/t gold.

The decline intersected the same two reefs 12.5 metres apart. The hangingwall and footwall reefs were 0.8 metres and 1.05 metres horizontal respectively. Two channel samples across the hangingwall reef on the eastern wall of the decline averaged 4.5 g/t gold and 16 random (and diluted) shovel samples from the stockpile of the mined hangingwall reef averaged 7.2 g/t gold. A channel sample across the footwall reef on the eastern wall of the decline averaged 20.0 g/t gold.

TREATMENT PLANT TENDERS

Following detailed technical and commercial evaluation of all the conforming and non-conforming bids, the Joint Venture is proposing to award the lump-sum contracts in July 1998.

Duketon Goldfields (1 July 1998)

The first phase of a deep diamond drilling program has now commenced with Strata Exploration Pty Limited moving their diamond drilling rig onto the Eureka site today.

The new licence is part of the Mt Alexander Goldfield Joint Venture (Duketon Goldfields NL -75% and YKR International Resources Limited - 25%). EL 4235, totaling 100.3 ha, is located approximately 900 metres west of the Wattle Gully Mine and covers the Eureka Anticline which hosts a number of old mine workings including the Eureka, Vineyard, Twomey and Cobbler Gully mines.

Recent Exploration

Exploration during the 1980's and revision of geological concepts during the 1990's indicates that the prospect may host significant mineralisation.

In 1982 CRA Exploration Pty Limited drilled two deep diamond drill holes, 150 metres apart, south of the Eureka Shaft to a depth of about 300 metres. Both holes intersected auriferous quartz veins below the old workings at about 250 metres below surface. The sulphides and visible gold in the quartz intersections convinced geologists at the time that a major new mineralised structure had been discovered below the old mine.

CRAE estimated the resource potential of the immediate Eureka Mine area at 1.2 million tonnes. No allowance was made for the resource potential to the north or south of the mine. Due to the resource potential of this new tenement and its proximity to the currently operating Wattle Gully Treatment plant, the Mt Alexander Goldfield Joint Venture considers the Eureka area one of the best exploration targets in the project area.

Current Deep Diamond Drilling Program

Initially three vertical 300 metre deep HQ diamond drill holes will be drilled in the Eureka Mine area adjacent to the CRAE holes. These first phase holes will target the area up dip of the CRAE intersections where the reef structure intersects the east limb of the Eureka Anticline, approximately 230 metres below surface.

Golden Cross Resources (1 July 1998)

Drilling Programmes

Broken Hill

Golden Cross Resources NL (GCR) has completed approximately 500m of reverse circulation drilling at the Yellowstone Prospect on its 100% owned Broken Hill property. The target is Selwyn or Ernest Henry style gold-copper mineralisation associated with ironstone formation. The drilling follows up on previously reported systematic rock chip sampling which returned two results of 16 g/t gold over 4m. Assays are awaited.

West Wyalong

On GCR's 90% owned West Wyalong property Newcrest Operations Limited (Newcrest) is scheduled to commence reverse circulation drilling next week at the Narragudgil Prospect. The planned drilling programme consists of 24 reverse circulation holes for 5,000m to test for porphyry copper-gold mineralisation in Gidginbung Volcanics along the Gilmore Suture.

Resignation of John H Hill, Director

GCR Non-Executive Director John H Hill, presently based in Europe, tendered his resignation, received on 30 June 1998, due to ongoing work commitments in Europe.

Petroz (1 July 1998)

Petroz advises that the WA-250-P JV (Petroz 50%) has relinquished the exploration permit in the Carnarvon Basin; recent seismic interpretation did not indicate a high level of prospectivity.

St Barbara Gold Mines (1 July 1998)

St Barbara has purchased the Reedy gold project in WA from the Mt Lyell Mining Co for $2.5 million. The tenements have published resources of 580,000 ounces of gold @ 3.5 g/t and adjoin the southern boundaries of St Barbara's Bluebird mine.

YKR International Resources Ltd (1 July 1998)

The Company is pleased to announce that after a protracted licensing process, that the Mt Alexander Goldfield Joint Venture (YKI 25% earning up to 75%) has finally been granted EL 4235 over the old Eureka and Vineyard mining area on 14 May 1998 and the work program for the diamond drilling program was finally approved on 25 June 1998.

The first phase of a deep diamond drilling program has now commenced with Strata Exploration Pty Limited moving their diamond drilling rig onto the Eureka site (EL 4235) today.

The new licence is part of the Mt Alexander Goldfield Joint Venture (Duketon Goldfields NL -75% and YKR International Resources Limited - 25%). EL 4235, totaling 100.3 ha, is located approximately 900 metres west of the Wattle Gully Mine and operating treatment plant and covers the Eureka Anticline which hosts a number of old mine workings including the Eureka, Vineyard, Twomey and Cobbler Gully mines.

Recent Exploration

Exploration during the 1980's and revision of geological concepts during the 1990's indicates that the prospect may host significant mineralisation.

In 1982 CRA Exploration Pty Limited drilled two deep diamond drill holes, 150 metres apart, south of the Eureka Shaft to a depth of about 300 metres. Both holes intersected auriferous quartz veins below the old workings at about 250 metres below surface. The sulphides and visible gold in the quartz intersections convinced geologists at the time that a major new mineralised structure had been discovered below the old mine.

CRAE estimated the resource potential of the immediate Eureka Mine area at 1.2 million tonnes. No allowance was made for the resource potential to the north or south of the mine. Due to the resource potential of this new tenement and its proximity to the currently operating Wattle Gully treatment plant, the Mt Alexander Goldfield Joint Venture considers the Eureka area one of the best exploration targets in the project area.

Current Deep Diamond Drilling Program

Initially three vertical 300 metre deep HQ diamond drill holes will be drilled in the Eureka Mine area adjacent to the CRAE holes. These first phase holes will target the area up dip of the CRAE intersections where the reef structure intersects the east limb of the Eureka Anticline, approximately 230 metres below surface. The main target zone will be reached in about two weeks time and results will be releases as soon as they are available.

Alliance Gold Mines (30 June 1998)

A new drilling program is about to commence at the Creswick Gold project.
Plant modifications at the Maldon Gold project to enable a throughput rate of 55 tonnes per hour have been completed. To fully utilise this increased production potential, additional tailings storage capacity is required- construction has commenced.

Bemax Resources (30 June 1998)

Drilling in the Murray Basin has delineated several potentially economic mineral sands deposits with widths from 120m to 480m. At Tarawi South grades averaged 2.45% heavy minerals including a high-grade zone at least 120m wide grading 4.73%.

Helix Resources (30 June 1998)

Helix has announced aa alliance with BHP Minerals whereby helix will be given access to BHP's exploration database covering WA and NT. Helix will bear all initial exploration costs, with BHP having the right to take 70% of any discovery with an in-ground value of more than $1 billion, and any smaller ones being entirely left with Helix.

Maiden Gold (30 June 1998)

Maiden Gold has announced a JV with Avgold of South Africa whereby Avgold can earn a 60% equity in Maiden's Tanzanian gold properties by spending US$2.45 million. Maiden will remain as manager. Avgold will acquire an initial 20% by paying US$450,000.

Mosaic Oil / Magellan Petroleum (30 June 1998)

Mosaic is joining a consortium to drill a huge structure in Central Australia with a potential target of 1.3 trillion cubic feet of recoverable gas. The Newhaven-1 well will be the first well sunk in the Ngalia Basin for 20 years.

NZ Oil & Gas (30 June 1998)

Proved and probable reserves in the Taranaki Basin are likely to increase following the success of Ngatoro-9 where the core contained 14.2m of oil-bearing sandstone.

Sons of Gwalia / Troy Resources (30 June 1998)

Mining has commenced at the Conishman gold JV in WA; they expect to produce 117,000 ounces of gold in the first 18 months with the ore being treated at the nearby Bullfinch mill.

Macmin (26 June 1998)

A detailed CSAMT (controlled source audio-magnetic telluric) geophysical program commenced at the Imwauna Prospect , Normanby project in Papua New Guinea on 15th June 1998.

The survey will provide blanket coverage of the Imwauna to Kela's prospect area, with the goal of defining sub-surface, high-grade, gold-mineralised quartz veins and silicified zones. In addition, more detailed surveys in selected areas will assist in defining the attitude, orientation and depth extent of the known Imwauna gold mineralised vein and probably highlight zones with increased thickness of quartz veining for future drill testing.

Preliminary data to hand (10% of the survey) have identified several very strong, one station wide (<25m), sub-vertical resistive zones that could reflect substantial widths of possibly gold rich, quartz veining or silicification. One of these zones terminates just prior to reaching the surface, near the linear ridge that separates the Imwauna and Kela's prospect areas. This resistive zone (on section) corresponds on surface to a sub-linear gold anomalous soil zone with thin, outcropping epithermal quartz veins (to approximately 25g/t Au), that is effectively parallel to the known gold mineralised quartz vein/resource at the Imwauna Prospect.

This is an exciting anomaly, and the company is very pleased with the preliminary results from the Normanby CSAMT survey.

Resolute / BHP (25 June 1998)

Resolute has announced plans to develop several projects in West Africa (Burkina Faso, Ghana, Ivory Coast, Togo and Benin) through a strategig alliance with BHP. Resolute will manage and operate up to 16 BHP-owned projects with inferred resources in excess of 3 million ounces. Resolute will spend up to $23 million to acquire interests ranging between 50% and 60%.

Icon Oil (24 June 1998)

Re: Special Report on Exploration Operations

Icon Oil NL reports that Abbott No.1 has reached a depth of 1899 metres and is being plugged and abandoned. The Showgrounds Sandstone was poorly developed at this location and proved to be tight.

Icon has earned a 35% working interest in the Abbott Block.

UNION MINING (24 June 1998)

Union Mining NL advises it has entered into an agreement with a private West Australian based syndicate to carry out exploration over certain Exploration Permits held by the Company in North Queensland. Under the agreement the syndicate will earn a 95% interest in the tenements by contributing $1.105 million to exploration over the next 3 years and paying $95,000 to Union as a cash payment and for partial reimbursement of expenditure by Union over the past 6 months. The syndicate contributions will be in the form of a $105,000 advance to cover exploration over the next 6 months. Further advances of $200,000 will be made every 6 months for the following 2.5 years. Union will manage the exploration and the agreement provides for Union to be able to buy back up to a 50% interest in the areas for the payment of 100% of exploration costs to that point in the event of a significant discovery being made.

Woodside Petroleum (24 June 1998)

Woodside reported that Egret 2, in the main Carnarvon basin oil and gas fields, had encountered a 40m oil column.

Australian Geological Survey Organisation (23 June 1998)

An Australian research vessel had detected strong signs of a potential long-term gas energy source in deep waters on the eastern flank of the Lord Howe Rise, about 800km north-east of Lord Howe.

Leo Shield Exploration (23 June 1998)

Occidental Gold (Ivory Coast) sarl, a wholly owned subsidiary of Leo Shield Exploration NL ("Leo Shield"), has entered into a farm-out/joint venture agreement with a subsidiary of Randgold Resources Limited ("Randgold") in relation to the Tengrela Est and Tengrela Sud concessions in northern Côte d'Ivoire. Randgold can earn a 51% interest by spending US$4,000,000 on exploration over 5 years, diluting Leo Shield to a 39% interest (before allowing for the Government's entitlement to a 10% interest at the mining stage).

Petroz (23 June 1998)

Petroz advises that the Melanie 1 well, located in EP-359-P in the Carnarvon Basin in WA, spudded at 11:00 hours (WST) 19 June 1998 and is currently drilling ahead at 87m. Melanie 1 will test a fault tilted block with the Early Cretaceous Birdrong Sandstone as the primary objective.

Talon Resources (22 June 1998)

Chairman John Horan and executive director Michael Foster have resigned as Talon withdraws from operations in The Philippines. Talon will look to sell its interest in the Sulat copper-gold project in The Philippines and concentrate on Australia.

Tiger International Resources (22 June 1998)

Tiger International Resources Inc. (TGR.V) has now processed five hundred tons of media from the Permian Conglomerate at the Springfield basin project in South Australia. Results from the concentrates will be disclosed upon receipt. Visual inspection of the fine concentrates has been encouraging with consistency similar to the previously reported diamondiferous gravels processed by Freeport Resources.

Western Diamond Corp (22 June 1998)

Western Diamond has extended its diamond exploration areas in the Menzies area of WA by acquiring 21 EL's fron De Beers subsidiary Stockdale Prospecting, including the Melita 1 and 2 kimberlites where 6 micro diamonds have been discovered.

Golden Cross Resources (20 June 1998)

The 50/50 Cargo Joint Venturers, Golden Cross Resources NL and Imperial Mining NL are pleased to announce the following.

RGC Settlement

RGC has advised it is withdrawing from the Cargo Joint Venture and has agreed to pay $440,000 to the Cargo Joint Venturers in satisfaction of its remaining exploration expenditure commitment of approximately $920,000 on EL 5238 at Cargo.

Newcrest Farm-In Agreement

GCR/Imperial and Newcrest Operations Limited have negotiated an arrangement under which Newcrest may sole-fund $12.5 million on exploration over six years to earn a 70% interest in EL 5238 and related tenements and to commit to a 3,000m diamond drilling programme.

Work by RGC

RGC completed three diamond holes in the centre of the Cargo intrusive complex situated in EL 5238 . The drilling covered a small area of the central west portion of the intrusive complex. Much of the intrusive complex, approximately 2.5 km by 2 km in area, is yet to be drilled.

In recent months a 100m dipole-dipole induced polarization geophysical survey was completed by RGC. The survey indicated strong anomalies in the northern part of the complex and was followed by a second survey extending the lines to the north and using deeper probing (200m) dipoles. The second survey supported the induced polarisation anomalies which are yet to be drilled.

RGC also conducted an aircore drilling programme over gaps in the geochemistry on the western edge of the complex. Results to hand revealed anomalous copper geochemistry, in excess 1,200 ppm.

The highly anomalous IP results in the northern portion of the system led to a comprehensive, detailed soil survey being completed by RGC in this area. Results are awaited.

Macmin (19 June 1998)

SUMMARY

The reverse circulation drilling program recently completed on the Texas joint venture (MACMIN 50% Hunter Exploration 50%) was plagued by both drill mechanical problems and bad drilling ground which resulted in objectives and target depths not being attained.

The objectives of the program were to test for extensions to known mineralisation at Twin Hills and Mt Gunyan; to test previously untested soil silver anomalies at Mt Gunyan; and to test two new prospects at Whites Hill and Kenmare.

High grade silver mineralisation was not encountered but moderate to low grade silver-gold mineralisation was intersected at Mt Gunyan, and Twin Hills. Better intersections included 4m at 235g/t Ag, 0.60g/t Au and 0.53% Pb in MGP21 at Mt Gunyan; 8m at 116g/t Ag, 0.41g/t Au in THP73 and 4m at 170g/t Ag, 0.55g/t Au in THP74 at Twin Hills (see Table 1). Low level silver anomalism and zinc mineralisation was intersected at Kenmare. Unfortunately results are not definitive as many holes, particularly those testing the depth extension of previously reported high grade silver mineralisation, failed to reach their target depths.

Drilling on a geophysical anomaly at Whites Hill encountered significant silica-pyrite alteration in the sediments, (with one intersection of 4m at 1.0% Zn) which could reasonably be expected to explain the anomaly. This area could have significant base metal potential.

The soil silver anomaly (at 5ppm Ag) at Twin Hills and Mt Gunyan covers approximately 2.8 sq kms and, in addition silver mineralisation extends beneath cover rocks at the northern end of Twin Hills. The silver soil anomaly is within a much more extensive lead/zinc anomaly which covers approximately 5 sq kms. Only a relatively small part of the silver, lead, zinc anomalous area has been tested by drill holes mainly in the more accessible parts of the prospects. Drilling over much of the area would require substantial earthworks for access and the J/V partners are presently attempting to determine the most cost effective drilling or other methods to continue exploration.

An assessment of current and past drilling at Twin Hills and Mt Gunyan has been completed.

The silver soil geochemistry and drill results suggest the mineralisation has a strike length of approximately 900m at Twin Hills and 600m at Mt Gunyan.

Based on the above widths and strike lengths and a depth extent of 150m, Inferred Mineral Resources of approximately 6.0 Mt at 127g/t Ag and 0.2g/t Au and approximately 2.2Mt at 132g/t Ag and 0.9g/t Au have been calculated for Twin Hills and Mt Gunyan respectively. There is considerable scope to increase the size of the resource.

Straits Resources (18 June 1998)

The Directors of Straits Resources Limited ("Straits") (ASX Code: SRL), today announce that a subsidiary of Straits has signed agreements with Kalahari Mining NL ("Kalahari") , an unlisted public company, to farm-in to Kalahari's exploration tenements and mining claims in the African Country of Namibia. The agreements are subject to Namibian regulatory approvals.

The tenements have been explored by international mining houses that focussed on primary copper targets. This data is now available on open file, along with recent high-resolution airborne geophysical survey data. This ground has the potential to host significant copper resources amenable to treatment using heap-leach SX-EW processing technology.

The company views Namibia favourably from a mining and exploration standpoint. It contains world-class base metal deposits (Tsumeb) and known large undeveloped oxide copper deposits. These attributes are set within a stable political climate, modern infrastructure and a fiscal regime conducive to mineral exploration and exploitation.

Ashton Mining (17 June 1998)

Ashton has gained development consent from native title claimants for its Merlin diamond project in the NT. Stage 1 development is estimated at $28 million and will include a 700,000 tpy processing plant producing about 350,000 carats per year. Merlin material runs at about 35% gemstone quality, with remaining material suitable for the lower-quality Indian cut and polish industry.

Australian Resources / BHP (17 June 1998)

BHP will explore 5 selected areas within AR's north-west Qld tenements after reaching agreement yesterday. targets are large sulphide deposits of primarily copper, gold, lead, zinc and silver.

Icon Oil (17 June 1998)

Re: Weekly Report on Exploration Operations

Icon Oil NL reports that Abbott No.1 well commenced drilling on Sunday, 14 June 1998 at 1500hrs. The well is programmed to a depth of 2070 metres.

The well is situated in ATP 573P which is located in the Surat Basin. Icon has entered into an agreement with Tyers Investments Pty Ltd (a wholly owned subsidiary of CVL Resources Ltd of Canada) and Icon will contribute 50% of the Abbott No.1 well costs to earn a 35% interest in the Abbott block of ATP 573P.

The Abbott Prospect is located less than 800 metres south of the McWhirter East oilfield and 2km north of the Yellowbank Creek oilfield, both of which are currently producing from the Showgrounds Sandstone reservoir, the target zone of the Abbot No.1 well. This combined structural-pinch-out trap prospect is located up-dip from four nearby wells that recover high quality oil (50º). Infrastructure within the area is excellent, with the Jackson-Moonie-Brisbane oil pipeline passing through ATP 573P.

Titan Resources (17 June 1998)

Titan announced that significant palladium values were starting to emerge from production and recent drilling at its nickel-copper-cobalt mine at Radio Hill in WA. The palladium is being recovered in the flotation process with levels averaging 4.2 g/t in the concentrate. Further significant palladium values have been found in a 9-hole drilling program; best intersections were 8.1m @3.27% Ni, 2.1% Cu, 0.16% Co and 1.06 g/t Pd from 150m and 26m @ 1.55% Ni, 1.16% Cu, 0.06% Co and 0.8 g/t Pd from 89m.

Aberfoyle (16 June 1998)

The Gunpowder copper project in QLD will be commissioned in mid-July - several weeks ahead of schedule. The cost of the Project would come in on budget at $125 million.

Aberfoyle also advised that the ore reserves at the Esperanza open pit at Gunpowder had been increased by 16% to 47,000 tonnes of contained copper, and a doubling of reserves at its khartoum project in WA to 1 million ounces @ 2.9 g/t Au.

Gympie Gold (16 June 1998)

Gympie Gold will spend $3 million on the start-up of its second operating business, the underground Southland Colliery in NSW. Gympie will provide another $5 million for rehabilitation at the end of the 20-30 year mine life. Production will reach 1.5mtpy in 1999/2000.

Otter Gold Mines (16 June 1998)

Otter has released encouraging drilling results from its Carbine gold mine in the NT. The widest intersection was 32m @ 5.3 g/t Au, with a range from 3 g/t to 38.5 g/t. The results indicate there are multiple intersections of ore with significant ore widths under the existing Carbine open pit.

Alcaston Mining (15 June 1998)

Stream sampling in Sweden has produced kimberlitic indicator minerals , including purple and orange garnets, ilmenites and chrome diopsides.

Comet Resources (15 June 1998)

Drilling has located 2 significant sources of process-quality water within 10km of Comet's Ravensthorpe nickel project. This will allow costs of the project to be reduced as the original plan was to pump water from 35km away.

Dragon Mining / Abador Gold (15 June 1998)

Dragon is to farm in to Abador's Park Range gold project (including the Dulcie West anomaly) , 35km south of Marvel Loch in WA. Dragon can earn 65% by spending $750,000 over 4 years.

Golden Triangle Resources (15 June 1998)

GTR has been granted an EL over an area in NSW containing the Woodsreef mine, tailings and waste rock dumps. GT plans to sample the tailings dump to determine the suitability to provide feedstock for a magnesium metal producing refinery.

Paladin Resources (15 June 1998)

Paladin has purchased another 45 milion pounds of uranium resources for an outlay of $3.4 million. Paladin has acquired the Manyingee and Oobagooma deposits on the north-west coast of WA. The resources appear to be amenable to in-situ leaching.

Red Back Mining (15 June 1998)

Red Back Mining has announced a plan to acquire 85% of the Chirano project, close to Ashanti Goldfields Bibiani mine in Ghana. Redback can acquire 22.5% by exercising an option to pay Reunion US$350,000 and spending US$750,00 on exploration over 12 months. Red Back can continue a second year of exploration by paying another US$250,000 and can earn up to 60% by spending a further US$2.25 million on exploration, a further US$2 would take its stake to 85%. Reunion calculated an inferred gold oxide resource of 1.58 million tonnes @ 2.04 g/t Au (104,000 oz).

Roc Oil (15 June 1998)

Unlisted Roc Oil has purchased Gulf Canada's interest in one of the more promising blocks in the South Atlantic, 200km north of the Falkland Islands.

St Francis Mining (15 June 1998)

Exploration has upgraded the Chacarilla copper project in Bolivia; rock chip sampling results included 4.86% Cu over 1.3m, 7.0% over 3.4m and 5.8% over 4m.

Tanganyika Gold (15 June 1998)

Tanganyika is confident an imminent drilling program will double its resource of 1 million ounces of gold.

BHP Petroleum (12 June 1998)

BHP's sale program continued with the sale of its Timor Sea assets to Gulf Canada Resources for an expected small profit in the 1999 financial year. BHPP signed a memorandum of understanding to sell production licences containing the Jabiru and Challis fields and the abandoned Skua field.

Exodus Minerals (12 June 1998)

Exodus has acquired a 100% interest in an emerging 87,000 gold resource at Swan Bore and Mt Lebanon (Mikado resource), 20km east of Granny Smith in WA. Delta Gold holds 18.3% of Exodus.

Murchison United (12 June 1998)

Murchison says encouraging coal quality results have come from a regional mapping program at the Ambor Coal project in Indonesia. The mapping indicates multiple seams over 8km of strike in the highly prospective Balikpapan Formation.

Pan Australian Resources / Rio Tinto (12 June 1998)

Pan Australian is pleased to announce that it has completed negotiations with Rio Tinto Exploration Pty Ltd for Rio Tinto to earn a controlling interest in the Hawkwood Project by sole funding future exploration. The Hawkwood Project is located 150 km west of Maryborough in South Queensland.

Hawkwood is prospective for precious and base metals (copper and nickel). Previous diamond core drilling has identified copper mineralisation and gold anomalism and costeaning over soil anomalies returned a maximum of 5 metres at 1.6 grammes/tonne platinum group metals (principally palladium and platinum) with 50 parts per billion gold.

Under the terms of the Agreement:

• Rio Tinto has the obligation to spend $100,000 within 12 months of the commencement date (after all statutory consents have been received);
• Rio Tinto will then have the right to earn 60% of the Project by sole funding a further $1,000,000 in exploration expenditure within 36 months of the commencement date;
• Pan Australian may elect to contribute to exploration expenditure after diluting to a 40% equity position. If Pan Australian elects not to contribute then Rio Tinto may earn a total equity of 75% in the Project by contributing a further $1,000,000 (a total of $2,100,000) in expenditure within 54 months of the commencement date.

At the Steere River Project, Delta has commenced a 9,000 metre reconnaissance drilling program over geochemical and geophysical targets previously identified by Pan Australian.

RGC (12 June 1998)

Reserves at the Eneabba mineral sands operation in WA have been increased and will now support a 12-year mine plan. Extensive resource definition work has seen significant conversion of resources into reserves.

Malachite Resources / LFB Resources (11 June 1998)

Three South Korean companies have joined in a $4.4 million JV to search for copper at Yeobal, 350km north-west of Sydney, NSW. Malachite and LFB hold a 50% stake in the JV.

Striker Resources (11 June 1998)

Striker advised that they have entered into a conditional agreement with the Ashton Exploration Joint Venture ('AEJV'). The AEJV is an exploration joint venture between Rio Tinto Exploration Pty Ltd (60%) and Ashton Mining Ltd (40%). One of the major terms of the agreement was that Striker has granted the AEJV the right to earn up to an 85% interest in Striker's North King George and Beta Creek diamond projects.

Finders Gold are in a 50/50 joint venture agreement with Dioro Exploration NL on a diamond exploration project, King George, in the north Kimberley. This tenement is adjacent to that of Striker Resources NL's ground in the same area.

Allstate Exploration / Beaconsfield Gold (10 June 1998)

Allstate has pushed back the Beaconsfield mine's commissioning date by 3 months to August 1999, halving its planned build-up to full production. The postponement means $500,000 in savings relating to mill labour and maintenance costs, but not enough to offset the rise in pre-production capital costs - up from $46.8 million to $51.29 million.

Icon Oil (10 June 1998)

Re: Weekly & Special Reports on Exploration Operations

Icon Oil reports that Penelope No.1 has reached a depth of 1947 metres. Over the past two days three drill stem tests were run to evaluate the strong hydrocarbon shows in the Showgrounds Sandstone. The first DST was a miss run due to mechanical failure and the second DST was successful and recovered a total of 6 barrels of rat hole mud and 21 barrels of very slightly gas cut muddy water with a very strong hydrocarbon odour being detected just before the rat hole mud reached the surface. The results prove that hydrocarbons have moved through this part of the system and that porous and permeable reservoir is present at this location.

Drill Stem Test No. 3 was successfully conducted over a sand in the Snake Creek Formation in order to determine a possible oil-water contact. The drill stem test recovered 1.1 barrels of rat hole mud only and no formation fluids, so it is not possible to determine an oil-water contact using the results from DST No.3.

When Penelope No.1 is plugged, the rig will move from Penelope No.1 to Abbott No.1 in ATP 573P where Icon will contribute 50% of one well to earn a working interest of 35% in the Abbott No.1 and a 20% working interest in the Abbott Block.

Rio Tinto (10 June 1998)

Rio Tinto will pay US$400 million to purchase the Jacobs Ranch coal mine in the Powder River Basin of Wyoming, USA. The mine currently produces 24 million tonnes/year of steaming coal for the domestic market; it is permitted to produce up to 35mtpy.

Anzoil (9 June 1998)

Anzoil has signed an agreement with French company Maurel & Prom to participate in a production-sharing agreement in the Hanoi Basin in Vietnam. Anzoil said the US$16.66 million taht it would receive would go towards the costs of appraisal of the D14 gas field, including 3 new exploration wells. Anzoil is planning a 15% share placement to M&P to raise $1.55 million.

Mosaic Oil (9 June 1998)

Mosaic will conduct seismic tests on the east coast of NZ's North Island. PEP38330 is immediately north of the Enerco NZ/Westech Energy JV where commercial quantities of gas have been found.

Alkane (8 June 1998)

Following drilling at the Bobbie Burns zone, the life of the oxide mine at Peak Hill in NSW has been extended by a year to about 4 years, with oxide reserves increasing from 100,000 ounces to 123,000 ounces of gold.

Auridiam (8 June 1998)

5 potential buyers have emerged for the recently mothballed River Ranch diamond mine in Zimbabwe; several of these companies are interested in the plant and equipment.

Astro Mining (8 June 1998)

Astro has recently purchased the exhausted Bow River diamond mine in WA for $10 million and also formed a JV with Ragged Range Mining who have several tenements in the surrounding area.

Gilt Edged Mining (8 June 1998)

GEM is aiming to expand the Missouri pit at its Siberia gold project in WA by a 34-hole drilling program. Previous intersections included 5m @ 42.9 g/t Au.

Golden Triangle Resources (8 June 1998)

Drilling at the Main Creek project in Tasmania has indicated the presence of a high-grade inferred magnesite resource, containing 47.4 million tonnes @ 43.36% magnesium oxide, with low silica (2.66%). There is potential to increase the resource both along strike and up and down dip.

Great Northern Mining (8 June 1998)

GNM is to sell its North QLD tin and base metals properties to Tin Australia NL (formerly Norminco). GNM will be given $900,000 in Tin Australia shares and will also subscribe further working capital to the latter company to become a major shareholder.

Mt Burgess (8 June 1998)

Aeromagnetic surveys at the Tay project in WA's Yilgarn Block have shown promising indications of nickel sulphides. The Tay project could form part of a southern extension of the Lake Johnstone greenstone belt, home of the Maggie Hays and Emily Ann nickel deposits and the Medcalf vanadium deposit.

Precious Metals Australia (6 June 1998)

Recent drilling has increased the measured oxidised resource at Windimurra 150% from 26 million tonnes to 67 million tonnes at .46% V2O5. Measured and indicated total resources increased from 72 million tonnes to 101 million tonnes at .47% V2O5, a 43% increase.

The measured oxidised resource alone gives a proven mine life of some 23 years, exceeding the 10 year requirement of the Glencore/PMA Bankable Feasibility Study due for completion in June. It is not anticipated that any further drilling will be required prior to the completion of the study or commencement of mining.

Ballarat Goldfields (3 June 1998)

Ballarat Goldfields N.L. (BGF) announces that it has agreed to purchase, subject to contract, the Berringa goldfield, in Victoria, from private interests. Located 35 km south-west of Ballarat, Berringa was actively mined between 1898 and 1917. Six underground operations, over a strike of 2.5km, mined over 1 million tonnes of quartz at an estimated average head grade of over 10 g/t. These mines produced almost 300,000 ounces of gold from a maximum depth of 300m.

Between 1937 and 1952, the Berringa Prospecting Syndicate mined ore zones grading in excess of 10 g/t, within the Berringa mine, between 40m and 70m below surface. 13,500 ounces were produced from 24,000 tonnes of crushings at an average recovered grade of 17 g/t.

In consideration, BGF has agreed to pay $35,000 on settlement and transfer of the MIN 4194 title, then $60,000 and $60,000 on each anniversary date. (A total investment of $155,000)

Icon Oil (3 June 1998)

Icon Oil reports that Penelope No.1 has reached a depth of 1480 metres and is drilling ahead in the Walloon Coal Measures. The well is making good progress and is currently ahead of schedule. Penelope No.1 is located approximately 4 kms southwest of Michaela No.1. The seismic data have been interpreted at this location, to indicate that the Showgrounds Sandstone appears to be developed as part of a distributary sand bar and consequently should have good reservoir properties. The Showgrounds Sandstone is the primary objective with the sands of the Evergreen Formation as secondary objectives in the well.

Alliance Gold Mines (2 June 1998)

Alliance advises that results have been received for the 76-hole RC drilling program completed on its Creswick Gold project in April. 14 zones of multi-element anomalism were identified, broadly confirming an earlier assessment. 4 of the anomalies have been ranked as high priority targets; 2 of these zones appear to be along strike from the Clunes goldfield.

BHP Petroleum (2 June 1998)

BHPP has discovered gas in the Sindh province of Pakistan. The Zamzama-1 well was the first well in the exploration program in the dadu Concession area.

Bemax Resources / Imperial Mining / Probo Mining (1 June 1998)

The Murray Basin Heavy minerals JV has been granted 3 new EL's covering 5,440 km² in the NSW portion of the Murray Basin, adjacent to ground held by Westralian Sands and RGC. Drilling is expected to start within 4 weeks.

Cluff Resources (1 June 1998)

Cluff has commenced bulk sampling at its Gloucester ruby project in NSW. During commissionong trials the plant recovered 59 carats of ruby, 12ct of green sapphire and 27ct of blue sapphire.

Goldsearch (1 June 1998)

Goldsearch is to investigate the potential of a high-grade copper/gold prospect at Mt Kelly, 90 km north of Mt Isa.

Minerals Corp (1 June 1998)

Minerals Corp has signed with Mitsui & Co to cover a program at Oberon, NSW, to assess the feasibility of production of high-purity quartz products - used principally in the semi-conductor and optical fibre industries.

Oxiana Resources (1 June 1998)

Drilling at the Dimakawal prospect in the Sierra Madre mountains in The Philippines has found volcanic breccia containing extensive copper and zinc below outcrops of high-grade silver, gold and base metals.

Strategic Minerals / Pacific Nickel (1 June 1998)

Work at the Woolgar gold project in QLD indicates a previously unknown prospective area north of the main Lost World orebody.

Stuart Metals (1 June 1998)

Stuart Metals has applied for about 1,000km² of ground after a 60km-long mineral sands find at Shark Bay, WA. Stuart Metals believes the fossil coastline at its Coburn project is similar in size and shape to RGC's Eneabba deposit.

BHP (30 May 1998)

The potential of the Canadian diamond project, Ekati, has been further enhanced with the recovery of 3 high-grade gems from the Koala North kimberlite pipe. The 3 stones ranged in size from 3.26 to 5.41 carats and placed an average sample value from Koala North at a comparatively high US$200 per carat, while gems recovered from the nearby Beartooth pipe were valued at an average US$79 / carat.

Diamond Rose (29 May 1998)

Diamond Rose believes it may have discovered a significant diamond deposit in the Kimberleys in WA. An airborne magnetic survey of its Walgidee Hills tenement had identified 3 possible deposits which could contain 3 different types of diamonds.
Diamond Rose is also planning to float a sister company - Silver Rose - dedicated to metals mining operations.

D'Aguilar Gold / Australian Mineral Processors (27 May 1998)

Stage 2 drilling of the Tableland prospect near Gympie, Qld, has intersected 10.2 g/t Au at 6m, 3.56 g/t at 26m and 2.87 g/t at 28m. The porphyry contact containing this mineralisation extends some 9km.

Icon Oil (27 May 1998)

Re: Weekly Report on Exploration Operations

Icon Oil reports that Michaela No.1 was plugged and abandoned and the rig released at 5 a.m. on 27 May 1998 after electric logs indicated that the hydrocarbons encountered were associated with poor reservoir development and did not warrant further testing.

The drilling rig is now being mobilised to Penelope No.1, approximately 4 kms southwest of Michaela No.1 where a new play is being tested. The seismic data have been interpreted at this location, to indicate that the Showgrounds Sandstone appears to be developed as part of a distributary sand bar and consequently should have good reservoir properties. The drilling of Michaela No.1 is further confirmation that the system is charged with oil and that exploration needs to be directed at finding a good reservoir.

Icon Oil NL is pleased to announce that it has reached Heads of Agreement with CVL Resources Ltd to earn a 35% working interest in the Abbott Block in ATP 573P. Under this agreement Icon will contribute 50% to the cost of drilling one vertical well and if necessary extend this well at a later date as a horizontal well on the Abbott Prospect.

Michelago Resources (27 May 1998)

Michelago has focussed on the eastern Lachlan Fold Belt of New South Wales and has a very strong land position in the region. Michelago now seeks:

• Joint ventures from Companies seeking quality farm-in opportunities in the Lachlan Fold Belt.
• A strategic alliance with a major group wishing to enter the Lachlan Fold Belt.

Icon Oil (26 May 1998)

Re: Weekly Report on Exploration Operations

Icon Oil reports that Michaela No.1 is currently at its total depth of 1925 metres. Two zones of interest have been penetrated and logs have been run to gather more information about these intervals which had oil shows. After the logs are examined a decision will be made about running drill stem tests.

Astro Mining (25 May 1998)

Astro Mining is to purchase Normandy's Bow River diamond operations, 120km south of Kununurra in WA, for $10 million, including $5 million in the form of convertible preference shares. Normandy had mothballed the alluvial diamond mine in 1995 mine after failed negotiations over native title claims.

Caledonian Pacific Minerals (25 May 1998)

Caledonian is about to commence drilling at its Meretrice tenements in New Caledonia; drilling will test anomalies extending over a 6km length parallel to the meretrice zinc-silver mine which operated until the 1940's.

Jervois Mining (25 May 1998)

Jervois has been allowed access to State forest and park areas near Port Macquarie where drilling in adjacent areas has produced encouraging nickel, scandium and cobalt intersections.

Metex Resources / Delta (25 May 1998)

Drilling at Metex Resources' Laverton JV has produced encouraging results with best intersections including 6m @ 6.52 g/t Au, 5m @ 2.99 g/t and 7m @ 5.30 g/t.

Newcrest Mining / Sedimentary Holdings (25 May 1998)

Drilling at the Cracow Goldfields project in QLD has encountered further mineralisation at up to 6.98 g/t Au.

North (25 May 1998)

North has confirmed the existence of a large, low-grade copper orebody at its El Galeno project in Peru. The resource appears to be about 300 million tonnes @ 0.7% Cu plus trace gold. A diamond drilling program would be completed over the next few months.

Pan Australian Resources (25 May 1998)

Pan Australian Resources NL have announced that it has signed a joint venture agreement with Delta Gold NL, granting Delta the right to earn a controlling interest in the Company's highly promising Steere River Project, 10 kilometres south of Ravensthorpe, Western Australia.

As part of the agreement, Delta has agreed to:

• Take a placement of four million Pan Australian shares at 25 cents each, raising $1.0 million within the next 30 days. The issued shares can not be sold by Delta during the next 12 months.
• Commit a minimum of $500,000 to exploration within the next nine months.

Following completion of the minimum expenditure commitment;

• Delta may elect to spend a further $1.5 million for a total of $2 million within two years to earn a 26% interest (or withdraw with no interest), then
• Delta may earn an additional 25% interest by spending a further $2 million within another two years – earning a 51% controlling interest for a total of $4 million

Upon reaching a 51% interest Delta has the option to increase its interest to 65% by bearing the sole cost of exploration up to the completion of a feasibility study to a bankable standard. Pan Australian would thus have a free-carried interest of 35% through to completion of a feasibility study to bankable standard.

Sand Queen Gold Mines (25 May 1998)

Sand Queen is to become a gas producer through an agreement in-principle with Energy Equity Corp to earn a 15% interest in the Bunya and Cocos gasfields in the Queensland section of the Cooper Basin. Sand Queen says its wholly-owned subsidiary Richfield Resources Pty Ltd will participate in up to 12 exploration, appraisal and development wells starting in June, and also has the option to buy its stake for $1.25 million before production commences in August 1999.

Tap Oil (25 May 1998)

Tap Oil says the indicative technically recoverable reserves for the Woollybutt oil field off Wa's coast stand at 42 million stock took barrels (MMstb). This could swell out to 204 MMstb should the Woollybutt-3 well to the south of the field prove successful.

BHP Petroleum (22 May 1998)

BHPP has announced successful appraisal drilling which has produced a record flow for the oil-rich Berkine basin in Algeria. Testing of the main oil zone of SFNE-1, on the south-eastern fringe of the main oil find, produced a record peak flow of 14,780 barrels a day and at an average flow over 96 hours of 4,650 barrels a day. Testing of the higher, second, zone produced an average flow of 2,870 barrels a day with a peak flow of 6,400 barrels a day. However well ROD-4, drilled on the northern extremity, was plugged and abandoned after encountering no hydrocarbons.

Icon Oil (21 May 1998)

Icon Oil reports that Michaela No.1 is drilling ahead and has reached a depth of 1400 metres and is currently three days ahead of schedule. The primary target in the well is the sands of the Evergreen Formation, which are the producing sands at the Alton Oilfield 30 kms to the north.

Lakes Oil (20 May 1998)

Lakes Oil N.L. advises that the Killanoola-1 and Killanoola-1 sidetrack wells, drilled last month by Oil Company of Australia in Petroleum Exploration Licence 27 (PEL27), are of significant importance to Lakes Oil N.L. and its joint venture partner Sun Resources N.L.

The discovery borders on Petroleum Exploration Licence 62 (PEL62) which is held 50% each by Lakes Oil N.L. and Sun Resources N.L.

Oil Company of Australia (66.67%) and Cultus Petroleum (33.33%) reported that they recovered 12 and 11 barrels of oil respectively during drill stem testing of the Sawpit Sandstone in these wells.

Anvil Mining (18 May 1998)

Anvil has announced that the pre-feasibility study by Signet Engineering for the Dikulushi project in the Democratic Republic of Congo indicated a "financially very robust" combined open pit-underground operation producing 125,000 tonnes of copper and 13.2 million ounces of silver over an 8-year mine life. A bankable feasibility study will commence immediately.

Astro Mining (18 May 1998)

Astro Mining is to explore for diamonds in the Phillips Range, 275km northeast of Derby, WA, after signing a JV deal with the tenement holder. Astro will pay $100,000 and spend up to $6 million to earn a 51% interest.

Australian Resources (18 May 1998)

AR says there are improved prospects that the underground deposit below the existing Cockburn pit at Mt McClure will prove economic. Using a 2 g/t Au cut-off, there is an inferred resource of 2.5 million tonnes @ 8.2 g/t(650,000 ounces) below the planned pit base at 290m. Deeper drilling could increase the size of the resource.

Carnegie Minerals (18 May 1998)

Agreements have been reached with the traditional owners at the Ivanhoe alluvial diamond project in WA, paving the way for a drilling program, scheduled to commmence in June.

Hargraves Resources (18 May 1998)

Drilling at Bald Hill in NSW intersected a 76m interval averaging 1g/t Au and some copper. Underground drilling at the Browns Creek orebody intersected 74.6m @ 1.79 g/t Au and minor copper; mineralisation was at a depth of 150m below the ore block currently being mined and occurred over a true width of 10-15m. High-grade intersections included 4m @ 8.2 g/t Au and 8.3m @ 4.2 g/t.

Taipan Resources (18 May 1998)

Drilling at the Paulsens and Belvedere projects in the Ashburton region of WA has produced both excellent grades and continuity. At Belvedere better intersections included 20m @ 4.25 g/t Au and 4m @ 3.8 g/t Au. Mineralisation has been confirmed along the 800m of the Belvedere shear zone.

Petroz (13 May 1998)

Petroz advises that the Kittiwake-1 well, drilled in permit WA-199-P in the Timor Sea, is to be plugged and abandoned after encountering minor hydrocarbon shows.

Tiger Resources (13 May 1998)

Tiger confirms that diamonds were previously discovered at the main site on Tiger's 5,400-sq.km Springfield property in South Australia. A total of 120 diamonds were discovered. This was recently confirmed by the Mines & Energy Resources department of Australia, which states "In the Springfield Basin, 128 diamonds and fragments have been recovered from conglomerates of Permian age. Garnet indicators with a kelyphytic ring suggest very little transport and hence a local source" (MESA Information Sheet, G7, 1997).

Petroz (12 May 1998)

Petroz advises that the Dimipac-1 well in exploration permit GSEC77 in the Northwest Palawan Basin, Philippines, has been plugged and abandoned with no significant hydrocarbons.

Bligh Oil & Minerals (11 May 1998)

Bligh has picked up exploration tenements in the PNG Fold Belt, south-east of the Hides-Igafu-Gobe oil and gas complex.

Exodus Minerals (11 May 1998)

Drilling at the Reynolds Range project in the NT has encountered high-grade gold-antimony mineralisation, including 12m @ 3.9 g/t Au and 4.2% antimony.

Horizon Mining (11 May 1998)

Horizon has applied for 8 EL's in the Eastern Goldfields area of WA. Six are at Raeside, another along strike from the Murrin Murrin nickel-cobalt project and one at Yundamindra.

Livingstone Resources (11 May 1998)

The Jewill and Mt Throssell diamond prospects in the Naberru Basin in WA are to be tested in a large-scale bulk sampling program.

Metex Resources / Delta (11 May 1998)

From the last drilling program an inferred resource of 2.25 million tonnes @ 4.7 g/t Au was reported at the Whisper-Innuendo Prospect near Laverton, WA.

Western Reefs (7 May 1998)

Western Reefs has purchased WMC's Western Queen gold resource in WA for $6 million cash plus royalties. Western Queen is only 37km from WRL's Dalgaranga mine, and ore from the deposit will be trucked to the Dalgaranga plant.

Tiger International Resources (5 May 1998)

Tiger has commenced an extensive diamond exploration and development work program at its 5,400 square kilometer Springfield Basin project in South Australia. The three-faceted work program includes a final review and compilation of the geophysical data, an intensive drilling program, and a trenching and bulk-tonnage sampling/mining program.

Acclaim Uranium (4 May 1998)

Acclaim has purchased the Millipede uranium deposit, near Wiluna in WA, from Outokumpu and Barrack. The deposit abuts 2 other uranium prospects that collectively form the Centipede deposit.

Esperance Minerals / Greenvale Mining (4 May 1998)

Esperance says metallurgical tests from its Greenland tenements have shown grades up to 35% niobium, 0.7% tantalum and 1% rare earths. Aeromagnetic surveys and drilling are about to commence.

Hardman Resources (4 May 1998)

Hardman has taken a 40% interest in a JV that will explore for oil in Guyana. The JV holds an option over the entire Takutu Basin and it has lodged an application for a large offshore area.

Hunter Exploration (4 May 1998)

Hunter has entered a JV in the Thackaringa cobalt project (Pyrite Hill and Big Hill prospects) , south-west of Broken Hill; Hunter can earn a 50% share by spending $3 million on exploration. There are indications that Big Hill contains mineralisation in excess of 7lbs/tonne of cobalt.

Lafayette Mining (4 May 1998)

Sampling at its Moukanda prospect in Gabon has confirmed the potential to host large low-grade gold deposits. Drilling will commence in June.

Molopo Australia (4 May 1998)

Molopo has applied for a mining licence to cover the Tsagaan Suvraga copper deposit in Mongolia. Molopo plans to drill for ground water this year and to complete an environmental assessment.

Petroz (4 May 1998)

Petroz advises that the West Noorindoo #1 well located in the Bainbilla Block of ATP 471P in the Surat Basin has been cased and suspended as a potential gas producer. Prelim wireline interpretation indicates a 14m gross hydrocarbon column in the Permian Tinowan Sandstone (at a depth of 2188m).

Reef Mining (4 May 1998)

Reef expects to revise its resource estimate after drilling at the high-grade Nick-o-Time Shoot at Tarnagulla (VIC) encountered visible gold and bonanza intersections - including 2.8m @ 239 g/t Au..

Strike Mining (4 May 1998)

Strike has signed a Letter of Understanding over the exploration and development of BHP Mineral's extensive gold holdings in the Hodgkinson Basin in QLD. Strike can earn 100% in resources worth less than $1 billion, but BHP retains a 75% interest in more valuable finds.

Tiger International Resources (4 May 1998)

Tiger announces that it has acquired additional property totaling approx. 3,200 square kilometers to the east and the west of it's previously announced 2,148 square kilometer Springfield Basin diamond project in South Australia. Total area now held is approx. 5,400 square kilometers, or 2,304,000 acres.
Tiger has previously announced that it acquired extensive geophysical data on the area which it having processed. The preliminary indications showed magnetic returns in a broad band over the central portion of the property, overlapping on to the neighboring properties. Management applied for the two areas with the South Australia Mines Department, and has been advised that it's application have been accepted and will be finalized after the government gazettes and publishes the applications. The two properties which were applied for are the Gilbert Hill and the Willochra Plains-Oroorroo areas.
Tiger has conveyed a 25% interest under an agreement of mutual interest, with the right for Tiger to acquire a portion of this interest to increase Tiger's interest to 85%, to the Springfield Syndicate from which Tiger acquired the Springfield Basin property.

West Oil (4 May 1998)

West Oil has signed JV agreements with Gambia and Ghana to study offshore areas. In the agreement with the Gambian government, West will study the offshore area in return for choosing a licence area.

Santos (2 May 1998)

Santos has announced a new gas field in South Australia where the Cabernet #1 exploration well encountered liquid-rich gas. Preliminary estimates set the reserves at about 30 billion cubic feet, with a potential 50bcf. Santos hoped for early connestion of Cabernet through construction of a 20km, $4 million pipeline to meet up with the Moomba pipeline.

Southern Cross Resources (1 May 1998)

Southern Cross Resources has revised upwards the mineral resource statement for its Gould Dam uranium prospect (in South Australia) from 2,300 tonnes to at least 18,000 tonnes.
The company would need to look at a JV or capital raising to fund development of Gould Dam, which would require at least $20 million for a stand-alone operation.

Ashton Mining (27 April 1998)

Ashton is now exploring for diamonds in 4 African countries. Ashton has just confirmed the presence of a 44ha magnetic anomaly at the Kassama project in Mali, with drilling intersecting a kimberlite at 151m. Kimberlites have also been found at the Kenieba prospect.
In Mauritania, drilling of an anomaly has intersected the first kimberlite reported in that country.

Redfire Resources (27 April 1998)

Redfire has lodged applications for 8,000 sq km of mineral sands territory in the Murray Basin, covering 3 blocks in NSW and 2 in SA. Redfire said studies showed these areas had the potential to host high-grade concentrations of rutile, zircon and ilmenite.

Stirling Resources (27 April 1998)

Stirling Resources and Canadian partner Carmanah Resources have commenced development drilling on their Camar North#3 oil well in Indonesia. It is the first of 3 proposed wells designed to test a formation near 2 production wells and allow an increase in production from 1300 barrels/day now to 8,000 to 10,000 bpd. Potential recoverable reserves from the new well were more than 1.8 million barrels, Stirling said.

WMC (27 April 1998)

WMC is about to commence a 1700m drilling program to confirm promising lateritic nickel intersections at the Irwin Hills leases held by Red Back Mining, south of Laverton, WA. WMC can earn a 60% interest in irwin Hills by spending $1.6 million by October 2001, then carrying Red Back's interest on loan through to the bankable feasibility stage.

Petroz (24 April 1998)

Petroz advises that it has farmed into exploration permit GSEC 77 located in the offshore Palawan Basin in the western Philippines. GSEC 77 covers an area of 14,346 sq.km and consists of 2 blocks, the Coron North Block and the Nido Block. By contributing 30% to the cost of drilling the Dimipac-1 well in the Coron North Block, Petroz will acquire a 30% interest in the Coron North Block and a 15% interest in the Nido Block.

AMX Resources (22 April 1998)

AMX Resources has announced a 40% increase in the estimated resource at its Golden Cities project in WA; the gold resource now stands at 824,000 ounces with an average grade of about 3 g/t Au. The total resource was more than 17.6 million tonnes @ 1.9 g/t Au if the cut-off was reduced from 1 g/t to 0.5 g/t. The resource target is 1 million ounces.

Australian Mineral Processors (22 April 1998)

Australian Mineral Processors subsidiary D'Aguilar Gold has found 'significant gold mineralisation' at its Kilkivan tenements near Gympie, QLD. The best result from the Tableland prospect was 2m @ 105 g/t Au with a repeat assay of 130 g/t. The discovery, just 1km from D'Aguilar Gold's processing plant, would allow economies in open-cut excavation and processing of pre.

Anvil Mining (20 April 1998)

Anvil has been awarded 4 exploration areas in the Democratic Republic of Congo; the areas total 18,150 sq.km and lie south of prospects held by Banro Resources of Canada where 9.5 million ounces of gold have been delineated.
Anvil has also almost completed its pre-feasibility study on the Dikulushi copper project in southern Congo.

Aurora Gold (20 April 1998)

Approval for development of the 150,000 ounce/year Toka Tindung gold project in Indonesia could be given by June with production commencing within 12 months. Aurora would produce at below US$200/ounce total cash costs.
Aurora also released encouraging drilling results from its Talawaan prospect, 14km south-west of Toka Tindung, including 25.4m @ 7.21 g/t Au and 6.9m @ 14.5 g/t.

Diamond Ventures / Auridiam Consolidated (20 April 1998)

Diamond Ventures has recovered kimberlitic garnets from drill intsections at its Mmashoro, Botswana, JV.

Exodus Minerals (20 April 1998)

Exodus is about to commence a 9,000m drilling program at its Wilga Dam gold-silver-copper project in WA. It will target the Glasgow-Magpie anomaly where float samples returned values up to 30g/t Au and 26 g/t Ag.

Exploration Expenditure (20 April 1998)

Resources companies spent $1.7 billion on mineral and oil exploration in 1995-96, of which $486 million was for overseas projects, according to ABS figures.

Federation Resources (20 April 1998)

Federation has reported encouraging drilling results from its Costerfield South project in VIC, including 1m @ 40.6 g/t Au and 0.28% antimony and 3m @ 10.28 g/t Au and 0.31% antimony.

Finders Gold (20 April 1998)

Additional RC drilling at the Lanut Project has continued to return significant widths of gold mineralisation, including 14m @ 5.33 g/t Au, 10m @ 5.56 g/t and 40m @ 2.39 g/t. The mineralisation appears to be controlled by a fault system and intense alteration at the bottom of the deeper holes suggests that the epithermal system may have considerable vertical extent and is reasonably preserved. Drilling is continuing.

Paladin Resources (20 April 1998)

Paladin is to proceed with a full assessment of its 80%-owned Kayelekera uranium deposit (11,700 tonnes of U3O8 @ 0.187%) in Malawi. The studt will examine whether the deposit is suitable for in-situ leach development.

Shell Development Australia / Timor Sea Petroleum (18 April 1998)

Shell says its Evans Shoal-2 Well in permit NT-P48, 150km off the NT coast, has flowed at a rate of 25.4 million standard cubic feet a day. The viability of a plan to build a $6 billion LNG project in WA has now significantly improved.

Macmin (18 April 1998)

The MACMIN N.L./Anglo Australian Resources N.L. joint venture on MACMIN's Thirkell Hill Project, E.L. 2/92, Tasmania, has been terminated. MACMIN now has a 100% interest in this project.

Two diamond core holes will be drilled to test a lead, zinc and iron geochemical anomaly in auger samples with an adjacent airborne EM anomaly. This geochemical anomaly has similar lead soil values to those over Aberfoyle's Hellyer orebody and MACMIN's target is a similar volcanogenic massive sulphide - silver, lead zinc body. The drill was expected to be mobilised to site on 17/4/98 and drilling should commence in the next few days.

Australian Resources / Audax Resources (17 April 1998)

Prospector Mark Creasy has entered an agreement with Australian Resources in a continuing battle to claim the prized Bronzewing south gold lease. The agreement is to negotiate a formal JV if either of them are granted the exploration licence for the disputed tenement.
Prospector and Audax Resources director Leith Beal drew the winning marble for the tenement in a ballot in December, but is still to be granted formal title by WA Mines Minister who has called for fresh submissions on the case.

Macmin (17 April 1998)

BHP Minerals have agreed to relinquish to MACMIN any and all rights they may have in the Crater Mountain J/V. In return MACMIN has agreed that BHP Minerals will have a pre-emptive right or first right of refusal on the sale of any equity in the Crater Mountain Project at any time between the completion of a bankable feasibility study and the commencement of mine construction.

The Crater Mountain Project has potential for a major gold resource and drill intersections such as 115m at 1.83g/t Au including 15m at 3.43g/t Au and 3m at 14.16g/t Au were encountered in one drill hole in October 1997. The above drill hole terminated in gold mineralisation at 340m in depth.

The BHP drilling apparently tested mineralisation peripheral to an extensive gold in soil anomaly that averages 500m wide, and is more than 1.5km long, and is open in most directions - particularly to the north. The potential to intersect additional gold mineralisation is excellent.

Normandy Mining (17 April 1998)

Normandy, through its La Source JV, has announced encouraging drilling results from its Perama Hill gold prospect in northeastern Greece. Results include 48m @ 11.2 g/t Au, 38m @ 7.5 g/t and 31m @ 11.6 g/t. The deposit is a classic fine grained volcanic hosted epithermal system. Drilling is continuing.
Market sources estimate Perama Hill could be a 1 million ounce near-surface orebody with an average grade of about 4 g/t Au.

Anzoil (16 April 1998)

An independent technical report has confirmed that oil and gas discoveries in Anzoil's Hanoi Basin are expected to contain 522 billion cubic feet of recoverable gas and 19 million barrels of oil. Anzoil said the gas field required about US$20 million for development and the oil about US$10 million; Anzoil has up to 50% of the 2 projects available for farm-out.

BHP Petroleum (16 April 1998)

BHPP has expressed confidence that its oil discovery in Algeria's Sahara Desert contained more than the 200 million barrels needed to justify a $400 million development by 2002.

Resource Exploration (16 April 1998)

Initial rock chip sampling at the Breakaway prospect at its Mt Gibson project in WA had recovered grades as high as 2 g/t platinum. The drill results ranged from 12m of combined platinum and palladium @ 0.66 g/t to 20m @ 0.60 g/t and 5m @ 0.58 g/t.

Macmin (14 April 1998)

MACMIN has just acquired the Tanga Project within the Lihir gold corridor in Papua New Guinea. MACMIN now has a dominant land position in this corridor, controlling two of the four island groups. No other prospective land is available.
The Lihir Mine, within the corridor immediately to the NW of Tanga, successfully commenced operations in 1997 and expects to produce 625,000 0zs gold in 1998.

Intrepid Mining / Cobra Resources (13 April 1998)

Intrepid Mining's takeover of Cobra has resulted in Intrepid acquiring a series of potential nickel projects in QLD (Marlborough and Greenvale) and PNG (Wowo Gap).

Kalgoorlie Resources (13 April 1998)

Kalgoorlie Resources is poised to acquire 100% of an eastern Indonesian oil field that produces 700 barrels a day and has additional reserves of 7.6 million barrels. Kalgoorlie Resources' share of oil in place from the exploration block is estimated to be up to 3.75 million barrels.. The acquisition would cost US$1.575 million and provided an excellent base from which to pursue other oil and gas interests.

Mt Lyell Mining Co / Glencore (13 April 1998)

Mt Lyell has joined Glencore International in a JV to restart the Cobar mine; The JV has been granted a 120 day option by the liquidator to acquire the mine. Glencore will carry out a drilling program to determine if the mine is still viable.

Pacrim Energy (13 April 1998)

Pacrim is seeking partners to drill 3 wells off the east coast of NZ's south island, south of Banks Peninsula.

Hemley Exploration (7 April 1998)

Hemley Exploration will commence a $15 million oil exploration program in the Officer Basin in South Australia in July following a landmark agreement with Aboriginal groups. The land was previously explored by Comalco for minerals - but found traces of oil.

Golden Triangle Resources (6 April 1998)

Golden Triangle has commenced a drilling program aimed at testing an 876 million tonne mineral sands deposit on the southern margin of the Murray Basin, VIC. The ilmenite, rutile and zircon deposit is in the Parilla sand formation, host to most of the recently discovered mineral sands deposits in the Murray basin.

Marlborough Gold Mines (6 April 1998)

With the recent rise in the price of tin, Marlborough is looking to develop the alluvial tin deposits at Ardlethan, NSW. The inferred resource is 5.8 million cubic metres @ 1.3kg per cm and Marlborough hopes to begin mining 1,000 to 1,200 tonnes per year within 18 months.

Shell Australia / Timor Sea Petroleum (3 April 1998)

Shell Australia and its JV partner Timor Sea Petroleum announced a 216m gas column from the Evans Shoal 2 interpretation well in the Timor Sea. Shell is hoping to prove up a reserve of 6.5 trillion cubic feet of gas within Evans Shoal.

East Coast Minerals / Legend Mining (31 March 1998)

JV Progress Report Elizabeth Hill Silver Deposit, Munni Munni (Via Karratha W.A.)

Three separate bulk testings have been completed.
Bulk Test No. 1 of 25 tonnes has returned a grade of 1.02% silver including silver specimens not crushed.
Bulk Test No. 2 of 25 tonnes is almost completed. It has so far returned a calculated head grade of 0.74% of silver. This figure is expected to increase as further nuggety silver is recovered during the final phases of testing.
The third batch of 991 kilograms has returned a head grade of 1.0478% silver.

GEOLOGY - Plantinoids

The Joint Venture has decided due to the unexpected platinoid results in the Elizabeth Hill ore to closely study the presence of platinoids and platinum. Platinum group elements have been consistently found within the silver horizons at Elizabeth. The Munni Munni complex also contains several other large platinoid horizons including: Upper Munni Munni Horizon , The Lower Munni Munni Horizon , Judy's Reef, Basement Sulphides.

At Elizabeth Hill considerable exploration has shown two types of mineralisation:
1. Stratabound nickel-copper and silver zones which occur near the base of the Munni Munni complex Although platinoid bearing, it is of a lower grade and has up to 3000 g/t Ag and 2% Ni and Cu.
2. Silver Ore The massive native silver ore of Elizabeth Hill contains considerable quantities of The platinoids. The platinoids have probably been dissolved by the native silver during passage through the ultramafics.

Two distinct types of platinoids have so far been delineated within this deposit:
i. Stibiopalladinite Stibiopalladinite is a palladium antimony mineral which is anticipated to contain rhodium. The mineral occurs as fine needles within the sulphide rich fractions.
ii. Native Platinum Native platinum is pale yellow and appears to occur within the metal rich silver veins. Results range from 0.5g/t to g/t for various concentrates throughout he process.

Macmin (31 March 1998)

Drilling at the MACMIN/Hunter exploration joint venture property at Texas, S.E. Queensland commenced on 28th March 1998. Initial drill holes will test a silver geochemical anomaly at Mt Gunyan prospect with a peak surface value in soils of 60g/t Ag. By comparison the high grade intercept of 10m at 1158 g/t Ag intersected last year at the Twin Hills prospect was below surface expression soil values of approximately 20g/t Ag.

Petroz (31 March 1998)

Petroz advises the Kittiwake-1 well, in permit WA-199-P in the Bonaparte Basin of the Timor Sea, spudded on 30 March and is currently drilling at a depth of 145m preparing to run casing at 161m. The proposed total depth is 2,870m and is expected to take about 4 weeks to drill and evaluate.

Tectonic Resources / Homestake Gold (31 March 1998)

Tectonic says drilling at the Kundip JV in WA has confirmed the existence of rich gold-copper zones at the polymetallic Trilogy deposit.
Pan Australian Resources' Steere River Project is adjacent to the Trilogy deposit.

Centamin (30 March 1998)

Following recent drilling, Centamin says it is confident a world-class ore body will be delineated at its Sukari gold project in Egypt. Better intersections include 33.5m @ 1.67 g/t and 129m @ 1.94 g/t.

Cluff Resources (30 March 1998)

Cluff has commenced work on the Star tunnel at its Copeton diamond project in NSW. The tunnel will access to an inferred resource of 500,000 carats of diamonds. Stones recovered had proved the highest quality found so far within the Copeton project.

Fortuna (30 March 1998)

Fortuna is to farm into the Palladium Brighstar uranium JV (Paladin Energy and Uranium Australia) in thr Frome Basin in South Australia.

Hillcrest Resources (30 March 1998)

Hillcrest has made a $264,000 placement to finance work on its Northampton exploration project (base metals and gold) near Geraldton in WA

Paget Mining (30 March 1998)

Paget is to seek international arbitration to settle its battle over the Sabodala gold deposit in Senegal. Paget claims that the Normandy Mining-controlled LaSource Compagnie Miniere was obliged to sell its 50.1% stake to Paget under an existing agreement. LaSource has announced it is selling its stake to a company associated with Senegal's prime Minister.

Spinifex Gold (30 March 1998)

Spinifex Gold now holds a 19.7% stake in East Africa Gold Corp, just below the threshold at which Canadian takeover provisions would be triggered. Tha Canadian company holds 860sq km of tenements in the Lake Victoria goldfield in north-western Tanzania, including the Buckreef project which contains an indicated and inferred resource of 2 million tonnes @ 2.83 g/t Au for 186,000 ounces.
Spinifex shares several directors with African gold player Leo Shield Exploration.

St Francis Mining (30 March 1998)

St Francis has reported more significant copper intersections from its Borda project in Bolivia.

Summit Resources (26 March 1998)

Following an increase in size and grade to 64 million pounds of uranium, Summit says its Valhalla uranium deposit in QLD is now the 3rd largest undeveloped deposit in Australia. The project is still in the pre-feasibility stage but the company hopes to be at the development stage within 3 to 4 years.

Glengarry Resources (25 March 1998)

Glengarry has announced a 38% increase in gold resources at its Great Britain deposit near Charters Towers, QLD to 3.1 million tonnes @ 1.47 g/t Au (146,704 ounces). Further recent geochemical work and geological compilation has identified new anomalies related to a potential extension to the mineralisation to the NW over a distance of 800m. A drill program in the June quarter is being designed to test the potential extensions.

Aurora Gold (24 March 1998)

Aurora says total gold reserves at its Mt Muro and Toka Tindung projects in Indonesia have been increased by 3% to 1.502 million tonnes as at 31 December. Mt Muro now has a total rteserve of 5.183 million tonnes @ 4.18 g/t and Toka Tindung has 4.28 million tonnes @ 3.97 g/t.

Finders Gold (24 March 1998)

Finders says drilling at the Lanut project in Indonesia has returned significant widths of gold mineralisation - up to 60m; better intersections included 23m @ 2.46 g/t Au and 14m @ 5.33 g/t. Drilling is continuing.

Queensland/Federal Govt - Elizabeth Creek (24 March 1998)

A joint Federal and State geological mapping study has identified a prospective new base metals zone in far north Queensland with potential to host another Century-style deposit.

The Elizabeth Creek prospect, approx. 100km north-east of Century, is subject to a 6-month moratorium giving interested parties time to prepare exploration permit applications. A data package on the lead/zinc/silver prospect will be released at an industry conference in Mt. Isa on 20 April by the Qld Dept of Mines and Energy and the AGSO.

Union Mining (24 March 1998)

Union Mining NL has released two significant announcements to the Australian Stock Exchange relating to discoveries at its Vanuatu and Papua New Guinea tenements.

On Pentecost Island in Vanuatu, the Company feels it has outlined a potentially large base metal province with mineralisation in the style of the Japanese Koroko deposits. The system occurs within an altered volcanic greenstone belt associated with a number of discrete small aeromagnetic highs. At the Wale River area, mineralisation within float rocks extends over a considerable distance with grades to 10.6% Cu, 15.90% Zn, 6.76 gm/tonne Au and 170 gm/tonne Ag. Anomalous float has also been located 6 kilometres to the north and 4 kilometres to the south. Geophysical surveys are planned as the next step prior to drilling.

Meanwhile, Union's joint venture partner in Papua New Guinea has drilled a major gold intersection of 49 metres @ 3.9 gm/tonne Au and 8.5 gm/tonne Ag at Gameta on Fergusson Island.

The inferred gold resources on Fergusson Island have been revised upwards by joint venture partner, Yamana Resources Inc to 11 million tonnes at 1.8 gm/tonne (650,000 ounces). Yamana advise that substantial further drilling at both sites is justified and anticipated.

Hillcrest Resources (23 March 1998)

Hillcrest will have an 80% interest in a high-grade polymetallic base metals area in the historic Northampton mineral field near Geraldton in WA.

Marlborough Gold Mines (23 March 1998)

Marlborough is taking over unlisted Telminex NL, a company which owns 5 exploration properties in NSW including the large Ardlethan alluvial tin project.

Sydney Oil Company (23 March 1998)

SOC has selected the Dimipac prospect in The Philippines as its first drilling target and has also received Philippine Government approval of exploration areas in the Southwest Palawan Basin.

Talon Resources (23 March 1998)

Talon has taken an option to JV into a gold and base metals project in The Philippines.

Santos (21 March 1998)

Santos has signed up for more exposure in the Gulf of Mexico. Santos is the highest bidder on 6 exploration blocks and plans 5 to 6 wells in 1998.

BHP / Petsec (20 March 1998)

BHP and Petsec have signed up for more exposure in the Gulf of Mexico. BHP says it is the highest bidder on 16 of its 31 bids and could pay $14.4 million for the exploration blocks.
Petsec's bids are worth $7.762 million.

Sun Resources (20 March 1998)

Sun Resources is to drill wells in the highly prospective Carnarvon Basin (Melanie#1) and Otway Basin (East Avenue#1) in March/April, followed by the probable drilling of the large White Opal prospect (Carnarvon Basin) in late 1998.
However, drilling and other exploration emphasis in the next 12 months is on major targets in PNG and New Caledonia.

Tiger International Resources (19 March 1998)

Tiger has obtained existing unprocessed Airborne Geophysical Data which covers the entire 2,148 sq.km prospective diamond area known as the freehold Springfield Property in northern South Australia. Interpolation of the data is expected by mid-April 1998 and will be followed up by trenching and sampling.

Precious Metals Australia (18 March 1998)

PMA has carried out an extensive reappraisal of the Windimurra Vanadium resource including infill drilling to convert part of the indicated resource into measured reserve for bankability purposes.

The program was successful in proving a measured reserve of 19.1 million tonnes at .51% V2O5 using a 0.4% cut off. At a cut off of .2% the measured reserve is 26.8Mt @ .46% V2O5. This reserve has been calculated using a bulk density of 2.68t/m².

A program of 20 additional RC and 5 diamond holes is currently underway. The program is designed to extend the total indicated resource as well as bring further material into the measured reserve category.

BHP (17 March 1998)

BHP reported that it had discovered a new porphyry copper deposit near its Superior copper mine in Arizona, containing high primary grades up to 2.18% Cu.

Empire Oil & Gas (16 March 1998)

Recently listed Empire Oil & Gas has been awarded 2 new exploration areas in the Perth Basin; offshore permit area TP-16 runs along the WA coast from Bunbury to Rockingham and EP411 takes in an offshore zone extending from Kwinana to Preston Beach.

Growth Resources (16 March 1998)

Growth announced gas shows at its Houston #1 well in Alaska. The well also revealed a significant 6m thick coal seam at 264m. Following the announcement more than 10% of Growth's stock changed hands.

Western Diamond Corporation (16 March 1998)

WDC said a new kimberlitic pipe had been discovered at its Menzies project in a previously untested part of the Yilgarn Craton, WA.

BHP Petroleum (13 March 1998)

BHP Petroleum says oil production at its Gobe Main and South-East fields in PNG commenced on 9 March and there have been further encouraging drilling results at its Algerian oil prospects.

WMC (13 March 1998)

WMC's international exploration arm has laid off about 20% of its staff and slashed its expenditure budget from $64 million last year to $50 million. WMC will almost disappear from Africa and will mainly concentrate on 15 exploration targets spread throughout Asia, the Americas and the Pacific region.

Lakes Oil (12 March 1998)

Lakes Oil N.L. is offering for farmout an interest in each of the above permits, exclusive of the Lakes Entrance Oil Field.

Both the above permits are located on the north east flank of the Gippsland Basin, adjacent to the prolific offshore producing fields which have proved to be the mainstay of the Australian petroleum industry over the last 35 years.

Woodside Petroleum (11 March 1998)

Woodside says the Banambu-1 well in the Carnarvon Basin is being plugged and abandoned after failing to find any significant hydrocarbon shows.
A new well, Mandorah-1, has begun in the Timor Sea off the NT - planned depth is 3900m.

Delta Gold (10 March 1998)

Successful exploration at Granny Smith has extended the life of the gold mine to at least 2001; total reserves have ben increased from 666,200 ounces to 876,000 ounces.

Rio Tinto (10 March 1998)

Rio Tinto plans to spend up to $1 billion to develop its Canadian arctic diamond discovery (Diavik project), worth an estimated $8.7 billion. The deposit so far contains 123 million carats of diamonds, of which 104 million are mineable reservesand more than 90% are of gem quality. Production is planned to commence in 2001 at between 6-8 million carats per year

Apache Energy (9 March 1998)

Apache will increase its oil production four-fold this year and double gas production. By the end of 1998, Apache will have beneficial oil production of 16,000 barrels /day and 57 terajoules of gas, from 9 fields.

Bolnisi Gold (9 March 1998)

Bolnisi has reported high-grade gold intercepts from its Sakdrisi project in the former Soviet republic of Georgia. Best intersections include 1m @ 512.5 g/t Au, 12m @ 3.5 g/t Au, 4m @135.3 g/t, and 8m @ 24.9 g/t.

Jervois Mining (9 March 1998)

Jervois advises drilling results at its Lake Innes project in NSW have increased scandium resources; values up to 5 ounces /tonne of scandium, at shallow depth, have been recorded.

Kimberley Oil NL (9 March 1998)

Newly-listed company, Kimberley Oil NL, is to explore the Canning basin in WA, believing it has similarities to Canada's Alberta Province.

Normandy Mining (9 March 1998)

Normandy is seeking a large acquisition in the Americas to become a globally recognised gold producer.

Roper River Resources (9 March 1998)

Roper says assay results from drilling at its Two Gums nickel prospect in WA have identified a silica iron-rich gossan zone that ranges from 5m -30m in width and is about 1.2km long. Due to hardness problems, all 16 holes failed to penetrate the silica rich zone; however all returned Ni values greater than 0.5%, with one >2% (adjacent to the gossan).

Beach Petroleum/ Petroz/ Santos/ Arrow Resources (6 March 1998)

Beach (25%) said its JV with Santos (37.5%), Petroz (25%) and Arrow Resources (12.5%) had been awarded exploration and development rights over the Bonaparte Basin tenement in the Timor Sea.Seismic surveying is due to start in early 1999.

Hunter Exploration (6 March 1998)

Hunter is to join Delta Gold in exploring a nickel/copper prospect in the eastern goldfields of WA. Hunter can earn a 70% interest by carrying Delta to a bankable feasibility. Delta can buy back up to 51% by refunding Hunter twice the amount it spends on exploration.

Ross Mining (6 March 1998)

Ross Mining NL has been granted an additional mining lease for its Timbarra Gold Mine by the NSW Minister for Mineral Resources. The Minister's approval clears the way for development of the $16.5 million project located near Tenterfield in northern New South Wales.

Caledonian Pacific (5 March 1998)

Reconnaissance ground geophysical exploration for zinc-lead-silver rich stratabound massive sulphide mineralisation of the Merètrice type, has detected a series of discrete, intense anomalies over a 4,500m strike length, within a broad anomalous belt up to 1,000m in width. Initial follow-up work over the 1500m long central sector, has detected the Merètrice deposit as a small discrete anomaly, structurally displaced to the west of the main anomaly trend. The much larger and more intense main anomaly zone to the east, has a minimum combined strike length of 1000m and is a very high priority drilling target.

Golden Cross Resources (5 March 1998)

Golden Cross Resources NL has received further encouraging drill results from the Copper Hill porphyry copper-gold project near Molong, 40 km NNW of Newcrest Mining Limited's Cadia/Ridgeway project.
Assay results have been received for diamond core hole NCH8, drilled to test northeast of and beneath the previous best intersection (hole CHRC-58) below the main old workings at Copper Hill.
Hole NCH8, located 280m northeast of hole CHRC-58, was drilled to 661m and intersected gold-copper mineralisation associated with fault-disrupted and brecciated quartz-magnetite veining. Results include 149m @ 0.44% Cu and 0.52g/t Au (including 49m @ 0.55% Cu and 0.71 g/t Au).

Austral Malaysia Mining Ltd (2 March 1998)

Austral has signed an agreement to prospect for gold at Kelantan in Malaysia. Austral holds a 60% equity in the JV.

Gwalia Consolidated (2 March 1998)

Gwalia, in partnership with Pacific Wildcat Resources, has been awarded a Contract of Work for its Sulut gold project in Indonesia.

Kilkenny Gold (2 March 1998)

Drilling at the Mau Creek prospect in the NT has more than doubled its Mau Creek gold resource to 905,000 ounces (11.8Mt @ 2.38 g/t).

Meekatharra Minerals (2 March 1998)

Meekatharra, in partnership with Teck Corp, has been awarded Contracts of Work for 2 gold-copper projects(Aceh and Tapaktuan) in Indonesia.

Money Mining (2 March 1998)

Drilling at the Granny Venn gold project in WA had shown that the Aunty Nellie mineralisation appeared continuous over a 200m strike length. The inferred resource is about 500,000 tonnes @ 3.75 g/t Au.

Sirocco Resources (2 March 1998)

Sirocco is to develop the Tom's Gully (high grade - about 10 g/t Au- underground) and Quest 29 (about 3.5 g/t open cuttable) gold project in the NT; a decision to develop a 40,000 ounce /year operation is expected in the June quarter and production could then commence within 60 days. Gold resources total 502,000 ounces and the cash producing cost is estimated at US$150 / ounce.

Tiger International Resources (2 March 1998)

Tiger has appointed Dr. Kevin Wills of Adelaide(currently Exploration Director with Adelaide Resources) to direct Tiger's diamond exploration at Springfield in the Gawler craton in SA. Work planned includes bulk trenching and aeromagnetic surveys.

Fimiston Mining (23 February 1998)

Fimiston plans to start drilling at its Silver Hill prospect in Tasmania next month. High-grade silver, zinc znd lead and massive sulphide outcrops had been located over 500m of strike length.

Resources Exploration (23 February 1998)

Results from a rock chip sampling program have confirmed anomalous platinum values at its Breakaway prospect at the Fields Find project in WA. Pt values up to 690ppb and palladium values up to 1,175ppg were recorded.

Roper River Gold (23 February 1998)

Drilling at its Two Gums project, north-west of Kalgoorlie, has shown positive nickel results from half the 100 holes sunk along the 1km strike. The highest intersection was 1.1% Ni.

Victoria Petroleum Gold (23 February 1998)

The company will drill 4 wells during March and April in the Carnarvon Basin in WA and San Joaquin Basin, California.

Macmin (20 February 1998)

Joint venture partners MACMIN NL and Hunter Exploration NL have agreed to recommence drilling at the Texas silver project in late March 1998.

It is envisaged that the drilling program will include holes near previous intersections at Twin Hills and Mt Gunyan; to test geophysical anomalies east of Rimfire Pacific's Silver Spur lease; and to test new prospects such as the Kenmare prospect within the Pikedale license.

Newcrest (20 February 1998)

Newcrest has has reported further encouraging drilling results from its Ghost Crab deposit, 25km west of its New Celebration mine in WA. A drill intersection of 12.3m @ 7.78 g/t Au from 558.7m was recorded. Data from the hole indicates that the width and grade of mineralisation are relatively constant down plunge; however further drilling is needed.

WMC (19 February 1998)

Due to low gold prices, WMC has deferred the final feasibility study at the Zarmitan gold project in Uzbekistan.WMC plans to complete the study when the gold outlook improves. Up to 30 employees working on the project are to be deployed or retrenched.

Golden Cross Resources (18 February 1998)

Golden Cross Resources NL has received encouraging drill results from the Copper Hill porphyry copper-gold project near Molong, 40 km NNW of Newcrest Mining Limited's Cadia/Ridgeway project. Newcrest Mining (operator) has a 68.7% interest (earning 74.5%) and Golden Cross Resources a 31.3% interest (diluting to 25.5%) in the Copper Hill project. Best results include 157m @ 0.78g/t Au and 0.4% Cu, including 26m @ 1.28 g/t Au and 0.65% Cu.

Tiger International Resources (18 February 1998)

Tiger has signed an agreement to earn a 70% interest, with the right to earn up to 80%, in a property prospective for diamonds - Springfield EL 1771 and Glen Oak ELA 324/93, currently held by Springfield Resources Syndicate.

Canyon Australia (16 February 1998)

Canyon will resume a US$12 million oil exploration program in St Vincents Gulf this week, more than 12 months after its original plans were put on hold after the collapse of its drilling rig. Exploration will focus on drilling through Cambrian rock in the Stansbury Basin for oil and natural gas.

Rimfire Pacific Mining (16 February 1998)

Rimfire is reassessing resources at its Silver Spur project near Texas, QLD, following the rise in the silver price. Using 7% zinc as cut-off, Rimfire says it has 369,000 tonnes @ 11.9% zinc equivalent including 5.79 ounces a tonne of silver.

Sovereign Resources (16 February 1998)

Sovereign is to test its Coogee prospect, near Kambalda, at greater depths in the hope of finding larger copper-gold sulphide mineralisation.

Titan Resources / Legend Mining (16 February 1998)

Titan has increased its Radio Hill Nickel project by farming into Legend Mining's adjacent Radio Hill West nickel tenements. Titan can earn a 60% interest by spending $200,000 on exploration.. The area contains the ultramafic Dingo complex.

Cogema (13 February 1998)

French uranium company Cogema will sell 2 of its smaller assets in Western Australia (Oobagooma Yampi project and its 83.1% equity in the Manyingee deposit) in a bid to focus its efforts on the high-grade Koongarra Project in the NT. The small, high-grade orebody, containing 14,500 tonnes of oxide, is accessible by open cut and proposed production is 1375 tonnes / year.

BHP Petroleum (12 February 1998)

BHP Petroleum has advised that the first discovery well (Bir Sif Fatima-1), in the Algerian exploration program, has produced oil at 1960 barrels /day.

East Coast Minerals / Legend Mining (12 February 1998)

Details of the bonanza silver find at Elizabeth Hill, within the Munni Munni Project in WA, were released yesterday. All but 2 of the 13 holes returned high grade silver intercepts in excess of 2000ppm, with 1200ppm equating to 48 g/t gold. The drilling had proved a high grade zone which extended horizontally for at least 35m at the level at which the area was drilled from an existing shaft at a depth of 82m.

Heathgate Resources (12 February 1998)

Heathgate Resources has announced an almost doubling of resources (from 11,000 tonnes up to 21,000 tonnes - average ore grade 0.18%) at its Beverley uranium project in South Australia. A pilot plant had already produced encouraging results and the plan is to submit an EIS in March and be at full production rate of 900 tonnes by the end of 1999. The uranium will be extracted through in-situ leaching, the first in Australia.

Ashton Mining (11 February 1998)

Ashton Mining of Canada has reported it had recovered a few microdiamonds in the mini-bulk sampling programs on the K6 and K91 kimberlite pipes at its Buffalo Hills prospect. The results confirm the presence of a population of larger stones and point to the need for collection of a larger sample.

Bligh Oil and Minerals (11 February 1998)

Bligh Oil and Minerals has advised that drilling at its West Park project in Texas had revealed a potential extension of an earlier gas find which could double the cash flow of the company over a period of time.

Newcrest Mining / Sedimentary Holdings (10 February 1998)

The JV partners have found gold mineralisation at Cracow in Qld, 2km from Sedimentary's 300,000 tpy processing plant. Hole KDD-7 (collared near the old Royal Standard mine) intersected 12m @ 7.4 g/t Au at 215m depth. The zone is located 120m below existing intersections. Previous drilling encountered 8m @ 31 g/t from 31m.
Newcrest drilling 480m to the north on the Klondyke-Royal Standard line has encountered further lower-grade gold mineralisation.

East Coast Minerals / Legend Mining (9 February 1998)

Shares in the Munni Munni JV (silver deposit at Elizabeth Hill) , East Coast and Legend, were suspended from trading on the ASX following sharp rises. East Coast said in a statement to the ASX that the silver deposit was " characterised at times by veins and pods of almost pure silver". Additional results are expected to be released this week.

Oxiana Resources (9 February 1998)

Oxiana has discovered significant copper-gold porphyry mineralisation at Gambang in The Philippines. The mineralisation is near surface and grades increase with depth ("better than Bougainville"). Drilling stopped at 80m - still in mineralisation.

Petroz (7 February 1998)

Petroz has reached agreement with Victoria Petroleum, Premier and Pace Petroleum to acquire a 10% interest in Carnarvon Basin exploration tenement EP 359. The interest will be acquired by meeting part of the cost of drilling the Melanie-1 exploration well, scheduled to be drilled in late March.

Bemax Resources (2 February 1998)

Bemax says it has discovered potentially large deposits of easily extractable mineral sands within the NSW sector of the Murray Basin. Bemax has delineated a very high-grade core of up to 80m wide and a lower grade envelope of 1% heavy minerals over widths of up to 250m. The sands have a high % - up to 60% in some places - of the more highly valued zircon and rutile minerals.
Bemax has also earned a 40% interest in the Aroroy gold project in The Philippines where there was potential to prove up 1 million ounces.

Danae Resources (2 February 1998)

Danae has released encouraging new drilling results at its Sappes gold project in Greece. Significant intersections included 13m @ 53 g/t Au, 28m @ 18.56 g/t and 25m @ 37.54 g/t. The resource had been upgraded to 1.37 million tonnes @ 12.36 g/t for 545,000 ounces.

Finders Gold (2 February 1998)

Finders has joined a consortium to search for diamonds in the Indian State of Madhya Pradesh.

Giants Reef (2 February 1998)

Giants Reef has signed a JV with Normandy Gold to search for gold and copper on Giants' Northern Territory tenements near Tenant Creek.

Highlake Resources (2 February 1998)

Victorian explorer Highlake has identified more than 100 mineralised reefs in the Maryborough gold fields. The resource inventory now totals 2.98 million tonnes @ 2.24 g/t Au, or 215,000 ounces.

WMC (30 January 1998)

WMC has obtained encouraging results from its West Meliadine gold project in Northwest Territories, Canada. A mineralised zone 2km long and 600m in depth has been delineated and a 1.2km section, named Tiriruniak, has been singled out for detailed investigation.
An initial resource estimate at Tiriruniak is 2.6 million ounces of contained gold @ 11.9 g/t Au, using a 5 g/t cut-off. Best intersections include 58m @ 6.27 g/t, 44.8m @ 9.26 g/t and 30m @ 13.4 g/t.
Another area, F-zone, has an initial resource of 630,000 ounces @ 7.7 g/t Au.

Werrie Gold (29 January 1998)

HIGHLIGHTS FROM BENAGERIE JOINT VENTURE FOR DECEMBER 1997 QUARTER

• A significant wide gold copper intersection was drilled at North Portia in hole BEN 592.
  • 76 metres of 1.06% copper, 1.21 g/t gold and 235 ppm Mo from 297m.
• Further significant wide copper and gold mineralisation was intersected in follow up drill hole BEN 596 which is located 100 metres to the north and 50 metres west of BEN 592.
  • 72 metres of 0.72% copper, 0.56 g/t gold and 838 ppm Mo from 246m.
• At Portia, additional reverse circulation drilling for metallurgical testwork highlighted a further high grade gold intersection.
  • 20 metres of 6.79 g/t gold from 87m.
• A programme and budget totalling almost 3.0 million dollars has been approved for resource assessment diamond drilling at North Portia, follow up of highly geochemically anomalous zones at Shylock and South Nerrissa, and air core drilling of five newly discovered gravity targets.

AMX Resources (28 January 1998)

AMX Resources has reported a significant new nickel discovery - initial drilling at North Monger, 35km south-east of Kalgoorlie, had intersected laterite nickel mineralisation grading 1.1% Nickel equivalent over 20m and 1.07% over 14m. The mineralisation has a strike length in excess of 4km.

Rio Tinto (26 January 1998)

String diamond indications have been delineated at Rio Tinto's second Lac de Gras diamond play. Mineral chemistry in 11 indicator mineral trains on the Back Lake Claims were some of the " best found to date in the NWT diamond play in terms of quantity, quality and composition".

Fletcher Challenge (26 January 1998)

Fletcher Challenge has acquired a 20% interest in a 5699sq km area north of the Maui gas field in New Zealand. The operator is the locally based Spectrum Exploration.

Hardman Resources (26 January 1998)

Shell has withdrawn from one of Hardman's key African offshore exploration blocks.

Hillgrove Gold / Allegiance Mining (26 January 1998)

Hillgrove has expanded its antimony holdings in NSW by acquiring the Bielsdown project, near Dorrigo, from Allegiance Mining. Allegiance has agreed to swap the antimony deposit for Hillgrove's interest in the Nymagee copper project near Cobar. Bielsdown contains about 350,000 tonnes at 3% antimony.

Summit Resources (26 January 1998)

Summit has reported further high-grade intersections at its Valhalla uranium project north of Mt Isa, including 16m @ 2.7kg / tonne of uranium oxide, 26m @ 2.2 kg/t and 45.4m @ 1.95kg/t.
Summit said all holes intersected wide zones (30-75m) of uranium mineralisation, grading in excess of 11g/t of U3O8.

Cultus Petroleum (22 January 1998)

Cultus said its JV with Alberta Energy and Gulf Resources has been offered a block off Ashmore and Carrier islands, 20km north of the producing Jabiru oil field.

Ashton Mining (21 January 1998)

Ashton has confirmed commercial quantities of diamonds fromthe K14 Kimberlite pipe at its Buffalo Hills prospect in Alberta; however the quality of the diamonds remains an issue - the largest diamond found (1.31 carats) had a "silvery-grey appearance with many dark inclusions".

Astro Mining (21 January 1998)

Astro is poised to assess the Abminga diamond prospect in northern South Australia, now under exploration by Canadian explorer Caldera Resources. Astro is about to undertake a 6 month drilling and due diligence program; if the results are positive, Astro could enter into a JV and acquire up to 70% of the prospect. Caldera has spent about $2 million on aero-magnetic surveys and exploration and delineated 250 prospective diamond locations. In 15 targets already tested, 2 micro-diamonds plus indicators were found.

Metex Resources (21 January 1998)

Metex has announced a total resource of 560,000 tonnes of contained gold (6.7 million tonnes @ 2.6 g/t Au ) for the Laverton Project JV with Delta; this includes 340,000 ounces for the Whisper and Innuendo prospects (2.25 million tonnes @ 4.7 g/t Au at a 1.0 g/t cut-off). Metex expects to be producing gold at its Laverton project in WA by late 1998.

Perseverance Corp (21 January 1998)

Perseverance says it is on the verge of a major expansion at its Fosterville gold project in VIC. Drilling in the December quarter has extended the corridor of economic mineralisation to 14.5km and the company is looking at a large gold field at the site, east of Bendigo.

Eastern Gold Corp (20 January 1998)

Shares in Eastern Gold rose substantially yesterday after higher than expected silver results from its T'Boli gold project in the Philippines. Tunnel sampling had yielded values in excess of 1000g/t Ag, with a highest grade of 1997g/t.

Golden Cross Resources (20 January 1998)

Drilling is presently underway at the Cargo and Copper Hill projects in which GCR holds a joint venture interest.

At Cargo the first hole of a minimum 5,000m diamond drilling program has been completed on the large copper and gold mineralised porphyry system, 12 km due west of Cadia/Ridgeway. The hole reached a depth of 440m showing good alteration throughout. Results will be included in the Company's December Quarterly Report.

At Copper Hill joint venture partner Newcrest Mining Limited is conducting an $880,000 drilling program to test the copper-gold porphyry prospect. The program, consisting of 18 holes averaging 400m depth, is scheduled for completion by 31 March 1998. The first diamond drill hole and a number of reverse circulation drill holes have been completed and available results will also be included in the Company's December Quarterly Report.

Capricorn Resources (19 January 1998)

The latest set of results from diamond drilling at Roundtop East ("The Vision" Prospect) continue to support the potential of the Roundtop JV area to host additional nickel deposits :

• A further 5 diamond drillholes have been completed
• Assay results show intersections of 3.93% NI over 1.04m (RTD164 from 256.8m).
• A second mineralised horizon in the same hole of 15 Ni over 6.2m was intersected from 249m.
• Two mineralised horizons in hole RTD165 of 1.03% Ni over 5m (from 242m) and 1.06% Ni over 1.21m (from 237m) were also intersected.
• Of 3 other peripheral holes (RTD 166,167,169) all encountered stringer and disseminated sulphide nickel, the best being 2.34% Ni over 0.43m (RTD169 from 233m).

East Coast Minerals / Legend Mining (19 January 1998)

East Coast has advised the ASX that it is awaiting results from bulk testing of ore from its Munni Munni silver discovery where tailings of the crushings assayed 3000 g/t Ag and 1.3 g/t Au.

Intrepid Mining Corp (19 January 1998)

Intrepid has acquired 3 nickel/cobalt prospects after exercising an option over the shares and assets of privately owned Cobra Resources NL. One of the prospects, Wowo Gap, is in PNG and has an inferred resource of 120 million tonnes of nickel-bearing laterite. The other 2 are at Greenvale in QLD and include the old Greenvale nickel mine. The Greenvale tenements have an inferred resource of 55 million tonnes @ 1.41% Ni and ).08% Co.

Paladin Resources (19 January 1998)

Paladin is exploring for uranium at its Frome prospect in South Australia in a JV with Brighstar Power of the US. Paladin says an early commercial discovery was possible.

Rhodes Mining (19 January 1998)

Rhodes is seeking a JV partner for its African venture after deciding to stop expenditure on grassroots exploration - due to the depressed resource market.

Western Metals (19 January 1998)

Western Metals has reported the discovery of a new ore body at Price's Creek - it has added 2.07 million tonnes at 10.4% Zn and 0.9% Pb to the company's total resources.

Carnarvon Petroleum (6 January 1998)

Carnarvon has reported minor gas shows in its Janus-1 well offshore WA; the gas was recorded between 1886m and 1934m with wireline logs. Carnarvon said the primary target failed to intersect any hydrocarbons and the company will now shift its focus to exploiting a gas discovery in PNG.

Union Mining (5 January 1998)

Union Mining NL announces that it has been awarded a Prospecting Licence to explore for bauxite within the Republic of Guinea, West Africa through a wholly owned subsidiary, "Compagnie Union Miniere De Guinee".

The Licence Area covers 3,905 square kilometres and includes all of the Gaoual Bauxite Deposits, situated in North Guinea. This highly prospective area lies between 20 to 80 kilometres north-west of the large Sangaredi Bauxite Mine.

Capricorn Resources (3 January 1998)

Follow-up drilling at Roundtop East, located 4km north of Emily Ann, has highlighted the potential for the Roundtop JV area to host additional rich nickel sulphide deposits similar to that already discovered at Emily Ann. The drilling has located massive nickel sulphides associated with an ultramafic unit that was not even identified when drilling of the geophysical target commenced in late november 1997. Better results received include 0.76m @ 6.29% Ni from 210.41m and 0.33m @ 4.31% Ni from 188.49m.
Meanwhile drilling and metallurgical studies have confirmed satisfactory parameters for development of Emuil Ann and the company await additional, logistic and engineering studies before committing to final feasibility and development schedules for 1998.

Chile Minera NL (3 January 1998)

Chile Minera will firm up drill targets at its La Costa tenements in Central Chile after receiving the results of a pilot drilling program where intersections of up to 0.3% Cu were encountered. An IP survey will be carried out over the tenements later this month.

Novus Petroleum (1 January 1998)

Novus advises gas shows and the presence of hydrocarbons have been identified in the Block 8 JV off the coast of Qatar in the Middle East. Drill stem testing is yet to establish the nature of any hydrocarbons that may be recoverable.Talon Resources (31 December 1997)

Talon's partners in the Red Dam nickel project - Outokumpu Exploration and Fodina Minerals - have withdrawn from their heads of agreement following news that no significant mineralisation was encountered from exploration work during the December quarter.

Current Exploration News

Exploration News - 1997

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