ann!!! - is this is as good as i think?!?!?!?!?!

ABN 42 082 593 235
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No of pages: 5
ANNOUNCEMENT
70 metre Wide Copper
Intersection Reported at
Mt Watson
Matrix Metals Limited is delighted to announce results from the ongoing reverse
circulation (RC) drilling program at Mt Watson, and specifically to report an
intersection of 70 metres grading 1.34% copper. This intersection was the
most significant from a number of exceptional intersections including 15m @
2.35% Cu, 16m @ 1.12% Cu, 28m @ 0.93% Cu, 31m @ 1.02 % Cu and 24m
@ 0.97 % Cu.
The balance of the assay results from this 2,000m program are due to be
received by 12 March 2004 and will be announced in due course.
The implications of these drill results are:
• the results have confirmed extensions to resource grade mineralisation in
the up-faulted block, immediately north of the Central Zone mineralisation.
The up-faulting has moved the mineralised horizon closer to the surface in
this area and has therefore extended the potential size of the resource.
• the results confirm additional widespread, relatively thick, high grade
mineralisation on the northern down dip extension of the Western Zone.
• a particular consistently and strongly mineralised area has been located
down dip in the Western Zone, highlighted by the spectacular intercept of:
MWRC 108 70 m @ 1.34 % Cu from 51m
• the significant thickness and shallow depth to the mineralisation in both
zones covered by the reported drilling, and the extensive distribution of
resource grade intercepts, suggest that significant additional resources are
likely to be defined by the ongoing drill program.