ASX Release 10 January 2006 No. of pages lodged: 3 Company Announcements Office Australian Stock Exchange Limited 4th Floor, 20 Bridge Street SYDNEY NSW 2000 Dear Sir/Madam ENCOURAGING INITIAL DRILL RESULTS FROM MINNIE SPRINGS MOLYBDENUM DISCOVERY Including 52 Metres Grading 0.07% Mo (3.2 g/t Au equivalent) From 10 Metres Assay results from seven of the eighteen holes completed in the recent drilling programme at Minnie Springs have been received. These initial assay results, which are from drill holes situated along the central section of the mineralised area, show Mo mineralisation is present over significant widths with higher grade sections contained within these zones. Hole MRC 8 for example intersected 34 metres @ 0.07% Mo (gold equivalent 3.4g/t) from 32m including 16 metres @ 0.10% Mo (gold equivalent 4.9g/t) from 32 metres and hole MRC 10 recorded 52m @ 0.07% Mo (gold equivalent 3.4g/t) from 10m including 20 metres @ 0.12% Mo (gold equivalent 5.8g/t) from 24 metres. Hole MRC 13 intersected 52 metres @ 0.05% Mo (gold equivalent 2.4 g/t) from 68 metres. The mineralisation was also shown to be persistent at depth with hole MRC intersecting 14 metres @ 0.07% Mo (gold equivalent 3.4g/t) from 106 metres to end of hole. Drilling was by reverse circulation to maximum hole depths of 121 metres and all of the holes reported in this release were inclined at 60 degrees. Drill samples, which were collected every metre and composited to two metres for analysis were assayed for molybdenum (Mo) by the XRF pressed powder method. The drilling results are summarized on the attached table and a drilling plan showing the location of all holes in the programme has been included as figure 1. Although these drilling results are preliminary only and represent less than 50% of the programme completed the results nevertheless confirm that the exploration target of a bulk tonnage ore body is the correct interpretation for the Minnie Springs discovery. The remaining drilling results are expected later this month. Howard Dawson Chairman For further information on the company visit http://www.catalystmetals.com Please direct enquiries to: Mark Thompson – Exploration Director Phone +61 8 9415 1714
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