announcement out

20 October 2010
ASX ANNOUNCEMENT
Transol Corporation Limited ? Acquisition of New Gold Projects in Cambodia
(ASX Code: TNC)
Transol Corporation Limited is pleased to announce the acquisition through its 100% owned
subsidiary Liberty Mining International Pty Ltd (?Liberty?) of two new projects and the balance of
one joint venture project in Cambodia.
Liberty has acquired two new exciting areas, one located in Ratanakiri in the Oyadao district, and
one in Mondulkiri Province adjoining OZ Minerals? Okvau project. These two new projects are being
purchased by way of the 100% acquisition of Summer Gold Investment Pvt Ltd (?Summer Gold?), a
Cambodian entity. Liberty has also finalised the purchase of the balance of the Andong Meas Project
in Ratanakiri Province, increasing its interest from 70% to 100%.
The Mondulkiri Gold Kang Roland Project is adjoined to the south and the west by OZ Minerals?
project areas and compliments Liberty?s existing Mondulkiri gold projects located to the south west.
Above: Mondulkiri Kang Roland Project
On 18 March 2010, OZ Minerals? announced to the ASX that an initial JORC compliant Inferred
Mineral Resource at Okvau of 8.1 million tonnes at 2.3 g/t for 605,000 ounces of contained gold (at a
0.5 g/t cut off). OZ Minerals? describes the initial resource at its adjacent Okvau project as a
foundation asset from which to build its resource base, and that its exploration aims to give it an
?indication of the potential for +2 million ounces of gold in the Okvau district? subject to further
successful exploration. A copy of the OZ Minerals, announcement can be viewed via the ASX
website. The Mondulkiri Gold Kang Roland Project license is 136km2 and covers areas of artisinal
mining as well as privately reported high grade rock chips as well as broad geochemical anomalies in
soils and mapped volcanic intrusives. Separate exploration would need to be undertaken on the
Mondulkiri Gold Kang Roland Project area to establish whether it shares characteristics with the OZ
Minerals Okvau project, and no JORC compliant mineral resource has been identified within the
Mondulkiri Gold Kang Roland Project at this time.
The Oyadao Summer Gold license covers 100km2 and includes mapped intrusive, active artisanal
mining and privately reported high grade surface rock chip samples.
Above: Oyadao Summer Project
At the Andong Meas license, Liberty has previously carried out airborne geophysics (magnetic) as
well as a stream sediment sampling program and photo geological mapping incorporating land
satellite imagery. The work detailed multiple targets based on stream sediment anomalies as well as
recorded current artisanal mining. High grade rock chip samples of up to 76.9 g/tonne gold were
recovered from float.
Above: Andong Meas Project
Liberty considers the Summer Gold transaction to be a highly strategic acquisition and will allow
Liberty to commence exploration at the end of the current wet season in mid November this year.
The acquisitions are conditional upon Liberty making an initial public offer (IPO) and listing on the
Australian Securities Exchange (ASX). The transactions involve pre-completion payments of
US$350,000 in cash, and the issue by Liberty of shares with a value of US$1.7 million at the IPO issue
price upon Liberty listing on ASX. Under the terms of the acquisitions, Liberty will also issue shares
with a value of US$1 million at the then applicable 30 day volume weighted average market price
upon Liberty announcing a reserve of at least five hundred thousand ounces of contained gold in
each of the project areas, being a total of up to USD$2 million in Liberty shares. The acquisition of
Summer Gold does not require Transol to issue any securities.
The Company will provide further information on the proposed separate listing of Liberty on ASX,
which will be subject to all necessary shareholder and regulatory approvals being obtained, in due
course.
For further queries, please contact Angus Edgar on +61 3 8610 8633.
ANGUS EDGAR
DIRECTOR