1Date:10 September 2003To: Company Announcements Office, ASXBy...

1
Date:
10 September 2003
To: Company Announcements Office, ASX
By Electronic Lodgement
Number of pages: 2
Subject: Drilling Results Myall Creek Gold Project SA – Plain English
INTRODUCTION
Minotaur Resources Ltd on behalf of EBR released the following results of drilling at the Myall
Creek joint venture in their 30 June 2003 quarterly report.
EAGLE BAY JOINT VENTURE
Myall Creek Joint Venture, EL 2800 and ELA 105/00 (Minotaur 100%, Eagle
Bay Resources earning 75%)
Eagle Bay Resources advise that drilling at the Myall Creek Prospect has provided
valuable evidence on structural controls of the Myall Creek copper mineralisation.
Additional targets along a significant northwest-trending structure will be investigated
in the next quarter.
On the request of shareholders and the ASX, EBR released more details of the Myall Creek drilling
to the ASX on the 4th September 2003. Shareholders felt strongly that the wording of the 4th of
September release was too technical and consequently EBR submitted the ASX report to First
Communications Pty Ltd public relations consultants who have redrafted the release into plain
language as set out below.
WHYALLA COPPER AND GOLD FIND
Eagle Bay Resources has today confirmed the presence of an extensive copper and gold deposit at
Myall Creek, 25 kilometres north of Whyalla in South Australia.
In a 75/25 joint venture with Minotaur Resources (which itself discovered Prominent Hill in South
Australia in a joint venture with BHP Billiton last year), Eagle Bay has been conducting field work,
including drilling, at the site over the past 12 months.
The breakthrough came when three dimensional computer modelling identified the potential source
of copper and gold 150 metres underground.
The Chairman of Eagle Bay Resources, Anthony Rechner, says they have reviewed and interpreted
the results of dozens of holes which have been drilled, trying to find the scope of the deposit.
“What we have found is a one to two metre thick layer of gold and copper-bearing rocks extending
over some 20 square kilometres.
“This is extremely encouraging news, which suggests that we are very close to uncovering a rich
supply of gold and copper.
“Our modelling and the results of our exploration lead us to believe that a healthy and economic
deposit similar to that of Olympic Dam and Prominent Hill is within reach, inside the boundaries of
our leases.
“It is now only a matter of time before the true value of this project is revealed,” Mr Rechner says.
The leases in the area held by Eagle Bay and Minotaur extend into Crown Land operated by the
Department of Defence.
Eagle Bay is seeking permission from the Department of Defence to extend its drilling operations
into this territory – covering about 10 square kilometres – which is where the richest source of gold
and copper deposits is expected to be.