ann out now, page-3

These latest results will be used to generate drilling targets for a proposed program of Rotary
Air Blast (“RAB”) drilling. These are promising exploration targets that the Company will now
aggressively pursue consistent with the strong gold results achieved by other companies in
nearby greenstones, such as the adjacent Yamarna belt that is known to host million ounce
plus gold resources.
Auger drilling confirms high-level gold anomalies
The results of the recent Jutson Rocks auger drilling programme have confirmed the presence
of strong and coherent gold geochemical anomalies which were previously identified through
BLEG sampling. During October 2011, a total of 755 soil samples were collected by auger
drilling to depths of up to 1.5m. The programme was designed to follow up a series of BLEG
anomalies defined earlier in the year. The BLEG sampling was conducted on a 500m x 500m
pattern, and the results from this programme outlined three possible gold anomalies using
1ppb gold as a cut-off for defining these anomalies. The auger programme was based on a
50m x 250m pattern and covered the areas highlighted by the BLEG programme.
The results of the auger programme are highly encouraging. Statistical analysis of the results
has defined six gold anomalies, all within the areas defined by the BLEG. Using the 95th
percentile, the gold values were contoured from 14ppb, although it is worthy of note that four
samples exceeded 100ppb with a maximum value of 3,050ppb (3.05g/t gold). The largest
anomaly is in the northern part of the area sampled and has a strike length of 1.6km and is
open to the north. The other five gold anomalies are located in the southern part of the
sampled area and these are up to 1.3km in strike length with four of the five anomalies being
open to the south.
All anomalies are located within a 30km long zone of gold anomalism previously identified from
geochemical sampling programmes conducted by various explorers mostly in the 1970’s. None
of the historical gold anomalies have been followed up by drilling. The anomalous gold zone
locates within the most structurally complex part of the greenstone belt and is located either
close to geological contacts or parallel to known geological structures within a previously
defined “structural corridor”.
Auger drilling defines precious metal platinum and palladium anomalies
As well as the latest gold results, two platinum anomalies were also defined (maximum value
26ppb) with the anomalies being defined by >10ppb platinum. One of these anomalies is open
to the north and is over a 1.4km strike length. In addition to these two platinum anomalies,
three palladium anomalies have also been defined using a minimum value of 14ppb palladium
(with a max value of 40ppb). One of these palladium anomalies is open to the south.
The Company regards these anomalies as being very encouraging. The auger sampling
shows that the BLEG technique has been highly effective in this area. Indeed, BLEG and
auger sampling were instrumental in previous discoveries in the Yamarna Belt and Tropicana
further to the south. Given this success, Global Nickel is now planning for a much larger