ABN 42 082 593 235 Electronic delivery No of pages: 5 ANNOUNCEMENT 70 metre Wide Copper Intersection Reported at Mt Watson Matrix Metals Limited is delighted to announce results from the ongoing reverse circulation (RC) drilling program at Mt Watson, and specifically to report an intersection of 70 metres grading 1.34% copper. This intersection was the most significant from a number of exceptional intersections including 15m @ 2.35% Cu, 16m @ 1.12% Cu, 28m @ 0.93% Cu, 31m @ 1.02 % Cu and 24m @ 0.97 % Cu. The balance of the assay results from this 2,000m program are due to be received by 12 March 2004 and will be announced in due course. The implications of these drill results are: • the results have confirmed extensions to resource grade mineralisation in the up-faulted block, immediately north of the Central Zone mineralisation. The up-faulting has moved the mineralised horizon closer to the surface in this area and has therefore extended the potential size of the resource. • the results confirm additional widespread, relatively thick, high grade mineralisation on the northern down dip extension of the Western Zone. • a particular consistently and strongly mineralised area has been located down dip in the Western Zone, highlighted by the spectacular intercept of: MWRC 108 70 m @ 1.34 % Cu from 51m • the significant thickness and shallow depth to the mineralisation in both zones covered by the reported drilling, and the extensive distribution of resource grade intercepts, suggest that significant additional resources are likely to be defined by the ongoing drill program.
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