re: Ann: Encouraging Drill Results at Otjozon... Encouraging...

re: Ann: Encouraging Drill Results at Otjozon... Encouraging Drill Results at the Otjo

Excerpt from announcement:

"HIGHLIGHTS

• Shaw River completed 5,773 metres (52%) of its 11,000 metre drilling programme1 at Otjo in Namibia and the second stage of the drilling programme has recommenced, completion expected by Dec Quarter 2012.

• Shaw River is pleased to announce the second batch of exploration drilling results (Table 1, Figures 1 to 6) from the next seventy-nine holes completed at Otjo and are from five areas, Ouparakane, North Bosrand and Ongorussengo, and two new areas of exploration, Labusrus “S” bend and Kopje.

• Drilling has outlined a large number of significant manganese intersections (15% cut-off) reported from 79 RC drill holes. These results are also consistent with expectations for the widths (downhole2) and grades of manganese mineralisation for the planned program and provide Shaw with increasing confidence that the target mineral resource tonnages are within reach.

• Encouragingly, further high grade intercepts, using a 30% manganese cut-off, were also intersected. These are very significant because of the potential for this material as either Direct Shipping Ore (DSO) and/or blending purposes."

More good drill results and further hits, getting better, more drilling underway in 2012, drilling towards a good resource upgrade, ... yet the price drops?!