EBR 0.25% 98.8¢ ebr systems inc.

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    ULEY GRAPHITE PROJECT ­

    EBR 100 % DILUTING TO 25 % FREE CARRIED TO PRODUCTION
    PORT LINCOLN SOUTH AUSTRALIA

    The farminee `Mikkira Graphite P/L' (MG) has paid A$200,000 to EBR to extend its option
    on the project a further 18 months to enable MG to continue testing and due diligence. On
    exercise of the option MG has the present intention to construct at their sole cost a plant to
    achieve `mechanical beneficiation...with an output capacity of approximately 83,000 tonnes
    per annum (TPA)... at a carbon content of 60-90 % carbon.'

    The previous farminee spent some A $15 million to commission the existing plant at 14,000
    TPA at a grade of + 94 % which may be demolished or significantly upsized to achieve MG's
    targeted output capacity of 83,000 TPA at 60-90 % carbon.

    regards The Tinhopper
 
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