80 cents today, page-8

From recent Quarterly:

"3. King Sound Mineral Sands Project
(30%, West Kimberley Region, Western Australia)

Strike had, through a joint venture (JV) with ASX listed Alara Resources Limited (Alara), a 30% interest
(free-carried until decision to mine) in the King Sound Mineral Sands Project, comprising three tenement
applications covering a total area of 652 square kilometres, located approximately 10 kilometres west of
the port town of Derby in the West Kimberley region of Western Australia.

The traditional owners have informed the JV that they are not prepared to consent to any exploration on
the tenements due to the cultural significance of the area and have respectfully requested that the
tenement applications be withdrawn.

In light of the significant cultural importance of this area and the prospect for significant opposition to
future works, the JV parties have recently agreed to withdraw the tenement applications and terminate
the JV in respect of these tenements."