re: assets and insitu values UPDATED DATA AND...

re: assets and insitu values UPDATED DATA AND CALCULATIONS.

WOODLAWN UNDERGROUND PROJECT RESOURCE ESTIMATE – SML 20
26 Oct 2006: "Tri Origin Minerals Ltd (“Tri Origin”) is pleased to announce its first JORC(1) compliant Measured, Indicated and Inferred resource estimate for the redevelopment of the Woodlawn Underground Project:

10.1Mt @ 1.8% Cu, 4.0% Pb, 10.2% Zn, 0.55 g/t Au, 85g/t Ag.


INSITU VALUATION OF RESOURCE:
Latest US $/lb: CU: 2.40; Pb: 0.76; Zinc: 1.40; Silver: $13.27/ounce. Omit Gold. Shares: 76.93 mill. Options 2009-2011: 5.845 mill. Fully diluted: 82.775 mill. US$1=AUS$1.2911. Share price: AUS$1.35.

+++++++++++++++++++++++++++++++

Recalculating the Insitu values/tonne (US$): Cu: 95.04; Pb: 66.88; Zn: 314.16; Silver: 36.26 or the total Insitu value/tonne is US$512.34 or $A661.48/tonne (24.7 grams/tonne Gold equiv. - Ounce of gold= US$644.6). That is a very high value per tonne in situ.

There is 10.1 mill tonnes or total in situ is AUS$6680.97 mill; on a fully diluted basis, that is AUS$80.71/share or per AUS$1 market cap: AUS$59.79, a high number.

There is room for expansion of the resource and the next Jorc update ought to give us that info. The pre-feasibility study planned for Febr 2007 ought to show a very good IRR. (Internal Rate of Return).

Note that these calculations omit the resource of Lewis Ponds.

Subject to audit,

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.