money coming from blue funnel...cha ching!!

Dated: 27th August 2013
BLUE FUNNEL ORE PROCESSING ON SCHEDULE TO DELIVER +A$3 MILLION FOR PHOENIX
HIGHLIGHTS
„h Mining at the Blue Funnel gold project on schedule and on budget
„h Six to eight week ore processing campaign has now commenced at FMR¡¦s Greenfield¡¦s Mill
„h Project to deliver net cash in excess of A$3 million at a A$1,350 gold price1
„h Stage 1 delivers 86,000 tonnes at 3.5 g/t at a total cash cost of A$980 per ounce1
„h Toll milling to produce over 9,000 ounces at 93% recovery1
„h Blue Funnel Stage 1 is the second in a series of cash generating mines for Phoenix

Phoenix Gold Limited is pleased to announce that its development of Stage 1 of the Blue Funnel Gold Mine is progressing in line with expectations. Mining commenced in July and ore processing has now commenced under a toll milling arrangement with FMR Investments at its Greenfield’s Mill in Coolgardie.