media release 19th oct 2009, page-16

Key info summary.....
IRON ORE
The update today ....."shows a continuous magnetic anomaly over 11km in length and up to 800m wide, is currently being processed by Fugro. Maps and interpretation of
processed data will be released by the Company upon final data receipt, expected by the end of October". ( less than 2 weeks away).

"A total of 475 samples have now been submitted to the Ultra Trace laboratory for assay and results are expected to be available in early November".

The results from the samples last year had up to 66.93% Ca Fe ( calculated after LOI) which is some of the highest grades around. With 11km by 800m, we have something to look forward to in November.

From Table 2 , page 6 of the results from the SGS Perth lab, GDA news 5 June 08 ,I worked out the following CaFe percentages for 8 samples....

Sample Fe% CaFe %
34908 59.9 66.93
34909 60.2 63.95
34911 58.6 65.69
34916 58.5 64.24
34924 62.5 64.87
34925 59.8 65.26
34927 58.6 60.68
34929 55.5 62.50

From the half yearly, 11 sept 09, "approximately 1,500 sq km of prospective exploration licences and applications are held. The tenements provide an extensive coverage of greenstone belts containing indications of iron ore, gold and copper-zinc, molybdenum, nickel, tin-tantalum mineralisation. This includes 100km of the Coongan
Greenstone Belt, extending south from Marble Bar".

GOLD
2,400m shallow RC drilling. Results for "Centenary" and "Whitehorse" announced with 1m @ 45g/t, 7m @ 13.91 g/t (including 2m @ 36.9 g/t), 1m @ 60 g/t, 1m @ 26.55 g/t and 1m @ 19.45 g/t from 1m to 2m from surface.

Drilling at Spring Hill, Buffalo, Southern Star extension and Zeus to be completed within next week. Results during next three weeks released as received.

From the last gold update (29 june 09)...."The pit optimization studies should be completed shortly.
Preliminary pit design work is currently underway for the Buffalo prospect to enable Gondwana Resources to calculate
a probable reserve within the current resource area".

"5,600 oz mined previously at Whitehorse" (21.4 g/t)

From the half yearly (11 sept 09) "Gondwana holds interests in ~290 km² of tenure straddling the Parker Dome"


From previous report (11 july 08)...."Gondwana’s drilling at Centenary in mid-2004 identified very high-grade gold mineralisation in narrow quartz veins associated with BIF. Best results include 3m @ 167.26g/t Au from 40m and 4m @ 34.28g/t Au from 51m".