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Distributed: Oct 9, 2012

Archer Exploration Limited (ASX:AXE) Final Campoona Shaft Metallurgical Drill Hole Results

WWW:www.archerexploration.com.au
(ABN) Company Overview

Archer Exploration Limited (ASX:AXE)

Final Campoona Shaft Metallurgical Drill Hole Results

Perth, Oct 9, 2012 (ABN Newswire) - Archer Exploration Limited (

ASX:AXE) report that the results for the last two metallurgical diamond drill holes at Campoona Shaft have been received.

Significant results include:
- 31m @ 14.4%TGC from 16m in hole CSDD12_001
- 77m @ 17.2%TGC from 11m in hole CSDD12_002

All Resource drilling at Campoona Shaft has been completed with Resource estimation completed by December 2012.

CAMPOONA DIAMOND DRILLING

Assay results have been received for the outstanding two diamond drill holes at Campoona Shaft. Resource drilling at Campoona Shaft was completed on a nominal 50m x 20m pattern to depths of 80-100m (Figure 1 in link below). Resource modelling has commenced and is expected to be completed by December 2012.

Receipt of the final assays has also signalled the start of more detailed composite metallurgical testing to test metallurgical responses across the length, breadth and depth of the deposit. Metallurgical results will be released to the market as and when they are finalised.

Diamond drill results for Campoona Shaft include:

--------------------------------------------------------
Diamond Hole From  To  Interval  Assay  Lithology
     ID      (m)  (m)   (m)     (TGC)
-------------------------------------------------------- 
CSDD12_001   16   47    31     14.7%   Graphitic schist 
CSDD12_002   11   88    77     17.2%   Graphite schist to EOH
--------------------------------------------------------

Full Campoona Shaft Metallurgical Diamond Drill Hole Results

--------------------------------------------------------------
Diamond Hole From  To  Interval  Assay  Lithology
     ID      (m)  (m)   (m)     (TGC)
-------------------------------------------------------------- 
CSDD12_001   16   47    31     14.7%   Graphitic schist 
CSDD12_002   11   88    77     17.2%   Graphitic schist 
CSDD12_003   24   106.4 82.4   15.9%   Graphitic schist to EOH 
      incl   24   89    65     14.7%   Graphitic schist to EOH
       and   90   106.4 16.4   21.3%   Graphitic schist to EOH
CSDD12_004   17   115   98     13.3
CSDD12_005   28   74    46     12.6    Graphitic schist & gneiss
      incl   32   51    19     16.1    Graphitic schist & gneiss
       and   59   73    14     14.8    Graphitic schist & gneiss
--------------------------------------------------------------

For the full tables and diagrams, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-AXE-699031.pdf

About Archer Exploration Limited

Archer Exploration Limited (ASX:AXE) is a graphite, magnesite, copper, gold and manganese explorer focused on the discovery of world-class ore deposits.

The company has carefully acquired a portfolio of projects, covering an area in excess of 5300 km2, in the highly prospective Gawler Craton and Adelaide Fold Belt regions of South Australia. All projects are 100% owned by the Company.

Archer also has earned the right to 100% of minerals other than uranium on EL4693 Wildhorse Plain located near Cleve on Eyre Peninsula.

The Company's flagship Campoona and Sugarloaf graphite deposits occur in the Cleve district where the Company has tenure of 933km2 in the emerging graphite province.

Archer Exploration Limited has an experienced board and management team and has the ability to maximise the potential of the company's world-class projects.

Contact

Archer Exploration Limited
T: +61-8-8272-3288
WWW: www.archerexploration.com.au

Link: http://media.abnnewswire.net/media/en/docs/ASX-AXE-699031.pdf