pre-open boys, page-5

read below...extracts from todays announcement...drilling to continue feb 05!

"Anomalous intervals were resampled as one metre individual samples and resubmitted to the laboratory. Results for these resamples are awaited '.

"The TEM survey was designed to identify ectromagnetic conductors which may represent deeply
buried bodies of massive nickel sulphides.

Exploration by previous companies did include surface
TEM surveys which detected four conductors. However the more modern techniques provide deeper coverage and better discrimination of conductive effects. Nickel Australia’s survey provided detailed discrimination of two strong conductors which are located in favourable geological positions adjacent to the basal ultramafic contact at the southern end of the project area".

To date no diamond drilling has been carried out on the Maggie Hays South property and the geochemical and geophysical anomalies identified by Nickel Australia remain untested. A diamond drilling program, consisting of six holes designed to test these areas, is scheduled to commence in early February 2005. Downhole electromagnetic (DHEM) surveys will then be carried out in all diamond drill holes.