Press Releases

Perth, April 28, 2008 (ABN Newswire) - The Board of Peel Exploration (ASX: PEX) is pleased to announce the completion of a resource estimate by Geos Mining Mineral Consultants for Attunga Tungsten Deposit, also known as Attunga Prospect 1. The resource estimate is a global resource estimate for tungsten and molybdenum mineralisation. Results include: 1.29 Mt grading 0.61% WO3 and 0.05% Mo for 9,400t contained WO3 equivalent1 using 0.2% WO3 equivalent1 cutoff. An expansion of mineralisation at a range of WO3 equivalent1 cutoff grades is contained below.

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TOTAL INFERRED RESOURCE
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WO3     Million  WO3% Mo%  WO3   Tonnes WO3
equiv.  Tonnes            equiv. equiv.
cutoff                       %
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0.1     2.27    0.39 0.04 0.48   10,800
0.2     1.29    0.61 0.05 0.73    9,400
0.3     0.86    0.82 0.06 0.97    8,300
0.4     0.58    1.09 0.08 1.27    7,300
0.6     0.40    1.40 0.10 1.63    6,500
0.8     0.32    1.60 0.12 1.86    5,900
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The resource estimate is based on 26 historic drillholes, 25 of which were diamond drillholes. Geos Mining undertook a programme of re-logging five diamond drillholes and re-assaying selected sections of split drillcore, and chip samples from RC drilling, for check assaying. Further information regarding the resource estimation can be found in the attached report provided by Geos Mining.

"The independent JORC resource announced today confirms that the Attunga Tungsten Deposit is high grade and represents a significant Australian tungsten resource," Mr Tyson said. "These results are extremely encouraging, and are a major achievement for the Company within its first year on the bourse."

Peel Exploration is currently planning additional work to be undertaken over the next 3-6months including:

- testing for extensions to the known mineralisation to the west and east of the main zone, as well as around AP1-023.

- testing nearby tungsten targets along the contact between the Inlet Monzonite and sediments.

- metallurgical testwork to determine likely recoveries of ore minerals.

Note:

The information in this report relating to the Attunga resources is based on information compiled by Mr Murray Hutton, who is a Member of the Australian Instituteof Geoscientists and is employed by Geos Mining. He has sufficient relevant experience to qualify as a Competent Person as defined in the 2004 edition of the 'Australasian Code for Reporting of Mineral Resources and Ore Reserves.' Mr Hutton consents to the inclusion in this report of this information in the form and context in which it appears.

Contact

Rob Tyson. Executive Director Telephone (08) 9382 3955 Facsimile (08) 9388 1025 Email info@peelex.com.au