Ann: Excellent drilling results from Yerecoin mag, page-4

re: Ann: Excellent drilling results from Yere... Wow - good point from the recent quarterly in regards to grain coarseness - I should point out that the majority of the Midwest magnetite projects have magnetite sizes in the vicinity of 25 to 34 microns - with GIR's project having 80% greater than 150 microns - which is simply incredible.

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"Further grind optimisation testwork just received indicates that the mineralisation has very favourable liberation characteristics, and is amenable to much coarser grinding than is usual for Western Australian magnetite deposits. The work has established the optimum grind size for magnetite liberation is likely to be coarser than 80% passing 75 microns, and even at 80% passing 150 microns a concentrate grading 69.3% Fe and 3.37% SiO2 was returned."